October 14th, 2008

yellow_elephant

Another interesting debating point

Who Caused the Economic Crisis? almost provides an interesting starting place. And as always a tip of the hat to tongodeon for trying to find some sort of"bi-partisan" ideal...

The problem of course is whether it will go far enough.

Is it finally time for americans to start to question the religious dogma of Milton Friedman.

Or should we just smile and keep whistling in the dark, that, well, these things happen, it is the way of life, and we should just accept that the Really Smart Guys will find a way to make the Liquidity Farms grow more liquidity at warehouse wholesale prices...

It will be fun to watch how limited the debate will really be. There are some interesting places, such as the referenced The Money Meltdown - which has a john stewart moment in it.

But I wonder if there isn't a core problem in all of this, namely the adoption of the mythology of the majikal market, which is both the free Market and the free Trade, and they bring freedome to the free... The rest of you will have to pay retail.

Of course dr_strych9 takes the totally irrational perspective that there were persons who were not supportive of the current rush to catastrophy, and some of them go back to lamenting the madness that comes from forgetting the past and removing the Glass-Steagal Act, and replacing it with the bi-partisan bill.

But if there is some value to be found in history, and gosh, maybe Francis Fukuyama was being honest when he stepped away from the myth of the end of history... What if we opted to use this opportunity to actually view both the flow of the past, as it actually happened, and not merely as it should have happened in the correct ideological orientation. Then who knows, we might look at the question of Planning.

Which would of course bumps into the holy doctrine question of whether or not the invisible foot of the market can really plan.... Or is the history of excesses, that it remains unable to plan.

Ah yes.... what wonderful things could come of this...

Why gosh, there might be a need to differenciate between what things a market can do, and what things must be left to the resolution mechanism of a democratic republic in a federalist formation....

What? Arrive at a place where there were room for a Quaker Profit, but no need for Disaster capitalism?
yellow_elephant

Who you gonna call...

do you suffer along with Brad Setser and Felix Salmon Fear the Zombie Banks????

Do you find Zombie Banks lurking around the school yard passing out investment warrants?

Remember, in america, we love our Banking System, even if the Moose Once Bit Your Sister...
A world where the government guarantees the ability of privately owned banks with potentially troubled balance sheets to raise wholesale funding is neither desirable nor necessarily stable for long.... If the guarantee is credible then an institution with little or no equity has the capacity to raise wholesale funds to gamble for redemption. And those bets are a potential source of instability. Regulation theoretically can limit this risk, and right now there is enough fear that I am not sure that it is most immediate risk -- but conceptually, the incentive to make big bets with the government's guaranteed money is there.
( op cit )
Regulation?

Regulation?

This is something to worry about? Since the invisible foot of the market will make sure that the majik is majikal...

Besides AEI has been stumping and campaigning for Massive Regulation Restoration to protect the banking, hedge funds, insurance, psuedo-banks, and the back room gambling pits running numbers.... Since of course, we know that only the regulatory oversight that the AEI has always championed can save .....

Hold it, what regulations?
[I]f you go the UK route and insist on board seats and the ouster of failed executives, it helps.... I'm quite sure that Paulson hates the fact that he's semi-nationalizing the banking system. But he needs to get real and accept it, rather than trying to brush it under the carpet. Otherwise he's putting hundreds of billions of taxpayer dollars at unnecessary risk
( op cit, emphasis added )
Hum....

What if Paulson doesn't care about the plebian masses???? and it is not like there is any need to be concerned about the long run....

Since soon NorComm will have the Combat Brigades to bring the Hurt down upon the Unbelievers....
yellow_elephant

What happened to the professional standards?

The Decatur soldier accused in the rape and murder of a 19-year-old woman with a learning disability inhabited a nightmarish world online, seeking sex slaves in the Colorado Springs area and boasting he could "kill without mercy or reason."

Robert Hull Marko was arrested Monday - his 21st birthday - in the death of 19-year-old Judilianna "Judi" Lawrence.

The woman - described as gentle, happy and devoted to her family - had been trading messages with Marko through MySpace and was due to meet him for the first time on Friday, family members said.

[ cf Decatur soldier accused in rape, murder led chilling life online ]
Once upon a time Country was third. It was a time when there was
Duty, Honor, Country
What if the nation has lost more than merely the marvels of the free marketerring....
yellow_elephant

Godless Liberals Stabbing Troops In The Back!!!

I am going to call this for the Cornerites. They do, I think, have a powerful point or two:

They are saying: "Look. You signed the same contract with Lucifer as we did--tell lies about Republican politicians and get in return teh Kingdoms of the Earth. You told us and everyone for years and years that George W. Bush was not just a good president but a great president, Teh Right Man, not in spite of but because of his ignorance, mendacity, disconnection from reality, and malevolence. And now you balk at Sarah Palin? This does not compute. Who do you think you are kidding?"

And Frum is replying: "Lucifer? Contract? Blood? Signature? Let me just squeeze on over into teh bipartisan center now that it looks like the ol' Star of the Morning doesn't have all the chops..."

And the Cornerites are righteously pissed at this abandonment.

[ cf I Am Going to Call This One for the Cornerites... ]
SHOCKING!!!

Just shocking!!! What has become of the total loyalty to Great Leader!!!!

What these evil liberals really need to remember is:
Thank GOD for RoboBushCheneyParis!!!
They Shiney!!!
and fashionably fashionable!!!

And willing to do their part to put the Mourning into the Morning Star!!!
Since what is best in Life?
To Crush Your Enemies!
And listen to the lamentations of their Creditors!!!!
But is this what we are getting from these Sun Shine Holy Warriors????