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View Diary: Open thread for night owls: Market didn't redistribute wealth upward, it was 'deliberate' policy (58 comments)

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  •  A little bit of bullshit. Of course it was the (9+ / 0-)

    natural working of the market aided and abetted by a government that decided to ignore the way markets work.

    We have to remember the essence of free markets is one that has caused at least one economist to say that it was rational for bank executives to loot a bank.

    Markets are lots of people looking out for their own interests, and work surprisingly well most of the time, but...sometimes they don't.

    When the ebb and flow of the markets concentrate too much power in too few hands, markets break.  Somebody has to step in and say that we can't afford broken markets, that broken markets aren't really markets so much as command economies.

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Sun Mar 17, 2013 at 08:50:38 PM PDT

    •  Exactly. (5+ / 0-)

      We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

      by Gooserock on Sun Mar 17, 2013 at 08:57:26 PM PDT

      [ Parent ]

      •  So what do ya'll think about Cyprus? My gut (1+ / 0-)
        Recommended by:
        Zinman

        reaction is this is straight out of Shock Doctrine. And it will spread.

        if a habitat is flooded, the improvement for target fishes increases by an infinite percentage...because a habitat suitability index that is even a tiny fraction of 1 is still infinitely higher than zero, which is the suitability of dry land to fishes.

        by mrsgoo on Sun Mar 17, 2013 at 09:56:05 PM PDT

        [ Parent ]

        •  Haven't read Shock Doctrine, but, on the surface, (0+ / 0-)

          and strictly from a judging a book by its cover view, it seems silly.

          We seem to respond stupidly to crisis no matter what we do.

          When Katrina leveled New Orleans, it wasn't capitalists who were shouting "Of course we'll rebuild!"  The question of whether New Orleans even makes sense global warming, ocean's rising, weather getting more threatening world was pushed aside.

          And I don't think it was capitalists rushing to shovel money out after Sandy Hook.

          And what of TARP?
          That one might fit the bill, but the real capitalist re-making had its genesis not in economic disaster, but in the repeal of Glass-Steagall.

          At any rate, I've always been skeptical of these bailouts, as I was skeptical of TARP, and the bailouts of GM and Chrysler.
          Politicians come in, choose who they want to win, and don't care who else gets screwed how badly or how long in the process.

          Don't forget that we live in a land where people celebrate this administration's (somehow forgetting that TARP was initiated during the Bush presidency) deft avoidance of a depression in the midst of more than 20 million unemployed and underemployed people plus the largest long-term unemployment problem since the Great Depression of the thirties.

          LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

          by dinotrac on Mon Mar 18, 2013 at 04:19:36 AM PDT

          [ Parent ]

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