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PollWhat should the government do about ailing financial institutions? Nothing, except to back off and get out—as any Objectivist knows, intervention is treating the disease with the disease 83% Intervene judiciously—enough to avert a catastrophe that is otherwise imminent 3% Intervene massively—as it's doing 3% Nationalize the whole economy and be done with it. Bring on the USSA! 1% Something else (specify) 11% Total votes: 80
 Basic Economics by Thomas Sowell
 Economics In One Lesson by Henry Hazlitt
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ARC Press Release: Are We All Socialists Now? Submitted by Ayn Rand Center on Fri, 2008-10-10 21:46.
Are We All Socialists Now? Washington, D.C. --The Treasury Department, as part of its ongoing assumption of control over the financial industry, is preparing to inject cash into U.S. banks in exchange for preferred shares of bank stock. “Are we all socialists now?” said Yaron Brook, executive director of the Ayn Rand Center for Individual Rights. “Have we learned nothing from the devastation that socialist policies wrought worldwide in the twentieth century? Government intervention distorts markets and causes economic dislocations, no matter whether Uncle Sam controls private companies by regulation or assumes public ownership outright. “A crisis doesn’t transform poison into medicine. Over decades, government manipulation of money, credit, and mortgages poisoned this economy and left it dangerously weak. Now Hank Paulson and his comrades are hooking up IV tubes filled with more of the same poison--bailouts, loan guarantees, cheap money, and more burdensome regulations--and hoping we will lie still and trust in their cure. “But the real cure is capitalism, not more doses of socialism. We should act quickly to put government in its place, by rolling back the interventionist measures that caused the present emergency. Government’s proper role is to punish fraud and enforce contracts, not to own and manage the economy. We cannot achieve financial health unless we are willing to free the markets.” ### ### ### Yaron Brook is executive director of the Ayn Rand Center for Individual Rights. He is a regular contributor to Forbes.com and a contributing editor of The Objective Standard. His articles have been featured in major newspapers such as USA Today, the Houston Chronicle, the Chicago Sun-Times, the Providence Journal and the Orange County Register. Dr. Brook is often interviewed on radio and is a frequent guest on a variety of national TV shows, having appeared in the new Fox Business Network, FOX News Channel, CNN, CNBC, and C-SPAN. Dr. Brook, a former finance professor, lectures on Objectivism, capitalism, business and foreign policy at college campuses, community groups and corporations across America and throughout the world. To interview Dr. Brook or book him for your show, please contact Larry Benson: For more information on Objectivism’s unique point of view, go to ARC’s Web site. The Ayn Rand Center is a division of the Ayn Rand Institute and promotes the philosophy of Ayn Rand, author of “Atlas Shrugged” and “The Fountainhead.” Copyright © 2008 Ayn Rand® Center for Individual Rights. All rights reserved.
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 Atlas Shrugged by Ayn Rand
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Aaron, you nailed it! I
Aaron, you nailed it! I wonder what Alice in Wonderland world the government planners live in. Oh yeah, houses should be expensive and their price should keep going up forever so that everyone can buy them with no money down loans and use the accumulated capital gains to further stimulate the economy
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Jim
Had they known
"I was amazed that CNN took the trouble to get a true free market perspective at all."
Had they known the capitalist would be cogent and unapologetic, they would not have asked him on.
Scott DeSalvo
www.desalvolaw.com
FREE Injury Report and CD Reveal the Secrets You Need to Know to Protect Your RIGHTS!
Some things just innately
Some things should be cheap, like oil and health care, and some should be expensive, like houses, well, except that everybody should still be able to afford them. Clear?
Aaron
Capitalism gets the blame again
Most everything from ARI is obvious. Surprises repeatedly how idiotic the MSM is.
One thing I haven't heard
One thing I haven't heard comment on in all this doom and gloom is: why shouldn't houses and stocks become more affordable? At the ridiculous, unsustainable level they had attained, asset price inflation was the real problem in the economy and now it's coming back into balance.
The government policy makers are trying to do the economic equivalent of repealing the law of gravity.
Jim
TV and integrity
Practically no one on TV has the integrity to do it unfortunately.
CNN, of all networks, had someone really good on just before I left New Zealand. I missed his name, but think he was the CEO of something or other. CNN put their own Richard Quest, an idiot, up against him, with their moderator in between. No contest. The free market guy left Quest uncharacteristically speechless. I was amazed that CNN took the trouble to get a true free market perspective at all.
Love it. Most people today
Love it. Most people today seem to think that the markets have been free. They need to be shown the concrete examples like Fannie Mae and Freddie Mac of the government clearly having their hands on the market. Practically no one on TV has the integrity to do it unfortunately.