Ayn Rand's Ugly Step Child

Discussion in 'Economy' started by Dante, Oct 21, 2009.

  1. Dante
    Offline

    Dante On leave Supporting Member

    Joined:
    Dec 1, 2008
    Messages:
    52,463
    Thanks Received:
    3,324
    Trophy Points:
    1,825
    Location:
    On leave
    Ratings:
    +6,054
    Ayn Rand's Ugly Step Child is to blame for the recent/current economic shit the world faced and is still facing.

    To start with...

    Alan Greenspan was a close associate and follower of Ayn Rand and her nutjob beliefs; Objectivism. Reagan and the GOP conservatives who embraced Obejctivist ecomonic policies, policies arguing for little to no regullation in the finacial markets, came into power in the 80s. These greed driven nitwits along with conservative economists appointed by Bill Clinton (embraced by many a liberal because of the greed factors...greed over ethical principles) caused the current economic meltdown.


    Conservative economic theories and Ayn Rand's foolish belief system = Economic Meltdown

    Saw a great PBS program on some of this...www.pbs.org

    The progam touched on the old 90s financial mess that foretold the problems we would eventual face with over-the-counter OTC derivatives.

    The invisible hand of Ayn Rand (most likely pulled out of her ass) is evident throughout the financial system over the last three decades.

    Proctor & Gamble's lawsuit against Bankers Trust...www.nytimes.com is an interesting peek inside the Voodoo economics of the last three decades.
     
    • Thank You! Thank You! x 1
  2. Dante
    Offline

    Dante On leave Supporting Member

    Joined:
    Dec 1, 2008
    Messages:
    52,463
    Thanks Received:
    3,324
    Trophy Points:
    1,825
    Location:
    On leave
    Ratings:
    +6,054
    great stuff...

    -The Oracle or The Master Of Disaster @ Huffington Post
     
  3. Dante
    Offline

    Dante On leave Supporting Member

    Joined:
    Dec 1, 2008
    Messages:
    52,463
    Thanks Received:
    3,324
    Trophy Points:
    1,825
    Location:
    On leave
    Ratings:
    +6,054
    "Do not regulate fraud...the market will correct for it" A Greenspanism/Randian idiocy.
     
  4. Kevin_Kennedy
    Offline

    Kevin_Kennedy Defend Liberty

    Joined:
    Aug 27, 2008
    Messages:
    17,581
    Thanks Received:
    1,577
    Trophy Points:
    205
    Location:
    Ohio
    Ratings:
    +2,015
    Greenspan also rejected free markets, despite his rhetoric, and objectivism by becoming the Federal Reserve chairman and foolishly attempting to centrally plan the economy. Keeping interest rates at 1% during the dot-com bust was not something the free market would have done, and inevitably led to the housing bubble and bust. Invoking Alan Greenspan as a true advocate of free markets is absolutely dishonest.
     
  5. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,409
    More pedantic bullshit, trying to peddle the shepherd of a banking monopoly and a worthless fiat currency as a "free marketer".

    Move along....Nothing to see here.
     
    • Thank You! Thank You! x 1
  6. Mike Mitrosky
    Offline

    Mike Mitrosky Member

    Joined:
    Oct 7, 2009
    Messages:
    173
    Thanks Received:
    19
    Trophy Points:
    16
    Ratings:
    +19
    The problem is the entire monetary system.. We use debt for money.. federal reserve notes.. that we have to buy at interest.. and it causes a never ending cycle of going deeper and deeper into debt just to buy our own money.. We cannot get out of the mess until we change the entire system.
     
  7. Dante
    Offline

    Dante On leave Supporting Member

    Joined:
    Dec 1, 2008
    Messages:
    52,463
    Thanks Received:
    3,324
    Trophy Points:
    1,825
    Location:
    On leave
    Ratings:
    +6,054
    Greenspan is said to have noticed the issue, but nevertheless he supported little to no government regulation. His plan was not full of central power. Greenspan believed in the free market that corrects itself. He was a fool as was Rand.
     
  8. Kevin_Kennedy
    Offline

    Kevin_Kennedy Defend Liberty

    Joined:
    Aug 27, 2008
    Messages:
    17,581
    Thanks Received:
    1,577
    Trophy Points:
    205
    Location:
    Ohio
    Ratings:
    +2,015
    He says he believed in a free market that corrects itself. However, his actions say something else. He certainly didn't allow the market to correct itself during the dot-com bust now did he?
     
  9. Dante
    Offline

    Dante On leave Supporting Member

    Joined:
    Dec 1, 2008
    Messages:
    52,463
    Thanks Received:
    3,324
    Trophy Points:
    1,825
    Location:
    On leave
    Ratings:
    +6,054
    nothing wrong with debt as long as it is manageable.

    Taken as a whole, capitalism has brought humanity far along a road of prosperity. Seen from the long perspective, capitalism with regulation (as Adam Smith viewed it) works pretty good.
     
  10. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,409
    Nor did he believe in the marketplace when he and the Fed board kept interest rates artificially low.

    The entire premise of this thread has been DOA since the OP.
     
    • Thank You! Thank You! x 1

Share This Page

Search tags for this page

ayn rand nutjob