Sunday, September 20, 2009

The socialist roots of the global meltdown

Capitalism has been under heavy assault since the global financial meltdown (see Foster and Corcoran). And adding to the obfuscation, as usual, most of the political class of all stripes are only too ready to assign blame anywhere except government.

So it’s worth a reminder that the meltdown had its roots in government intervention. The following video is a replay of the actions of some key figures (including Barack Obama) in their own words:


That’s not capitalism at work, it’s heavy handed (but, as they always try to tell us, well intentioned) government intervention in the capital markets. It’s a classic example of why socialism does not and cannot work.

Also here’s Corcoran on Michael Moore’s new movie Capitalism:
... Bank robbery is a theme of the movie. In the latest issue of Vanity Fair, however, two veteran financial reporters tell a different story of how the banks were ordered to a meeting by Paulson who staged what they call a reverse bank robbery. "It was basically a reverse holdup, with Paulson holding the gun and forcing the banks to take the money." That’s statism, not capitalism. ...

3 comments:

Xanthippa said...

Excellent video!

But, I rather thought everyone knew this...

Acorn actually hired Obama to train its people in the 'strong-arm tactics' the video touches on. And, when they 'sued the banks', they hand-picked Obama to be their lawyer, hiring the law-firm he worked for and then especially requesting him as a condition of the contract.

Bill Clinton was strong-armed into signing the bill which is at the root of this: and Obama was there to hold the proverbial gun to his head.

But, like I said earlier: does not EVERYBODY know this? It is certainly not secret, the info is openly available and even the most surface research will yield the 'breadcrumb-trail'...

JR said...

True Xanthippa, it's not exactly news, or at least it shouldn't be. There was lots of video evidence of this some time ago. I've posted some of it. Though this one does put it all together fairly effectively.

However, as I said in the post, "it's worth a reminder" given all the recent anti-capitalist rhetoric (see the above links).

You ask "does not EVERYBODY know this?" It would seem that many, including even some in our current government either don't remember or refuse to acknowledge these facts. Should we yield to their continued willful ignorance and stay silent, or is it "worth a reminder"?

Xanthippa said...

Oh, it's DEFINITELY worth a reminder!!!

I just get so sad when people fail to take an interest in the world around them and then plead ignorance when they are proven to be complicit in the destruction of our freedoms and our society...