Ayn Rand's Ugly Step Child

[Procrustes Stretched]

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.

 

[Procrustes Stretched]

great stuff...

The rejection of Commodity Futures Trading Commission chief Born's proposal to regulate derivatives was backed by Treasury Secretary Robert E. Rubin and Securities and Exchange Commission Chairman Arthur Levitt Jr., both members of the Working Group on Financial Markets, but, according to most accounts, Greenspan led the charge.

Some argue that Greenspan was less an independent power in his own right than a reflection of the forces that have generally dominated the setting of banking regulation over the years.

Columbia economist Massimo Morelli, for example, contends that:

-The Oracle or The Master Of Disaster @ Huffington Post

 

[Procrustes Stretched]

"Do not regulate fraud...the market will correct for it" A Greenspanism/Randian idiocy.

 

[Kevin_Kennedy]

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.

 

[Oddball]

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.

 

[Mike Mitrosky]

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.

 

[Procrustes Stretched]

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.

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.

 

[Kevin_Kennedy]

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.

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.

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?

 

[Procrustes Stretched]

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.

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.

 

[Oddball]

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?

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.

 

[Procrustes Stretched]

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.

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.

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?

You are confusing ideology and philosophy with real world actions. Believing in a system and allowing it to fail was never an option for those in charge. Since the system itself was never totally pure as a free market it is impossible to see where you are going with his idiocy.

 

[Procrustes Stretched]

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?

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.

You too are living in a fantasy world where something existed that didn't.

Greenspan and others didn't have the power to turn our system into a totally pure free market system.

You sound like those crazy commies who always argued over who was pure as a commie...Trotsky, Stalin et al

 

[Oddball]

And you're a goddamn idiot who can't see a currency monopoly -hence no free market- when it's staring you in the face.

Dickweed.

 

[Procrustes Stretched]

And you're a goddamn idiot who can't see a currency monopoly -hence no free market- when it's staring you in the face.

Dickweed.

yawn...

having another hallucination are we?

 

[Kevin_Kennedy]

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.

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?

You are confusing ideology and philosophy with real world actions. Believing in a system and allowing it to fail was never an option for those in charge. Since the system itself was never totally pure as a free market it is impossible to see where you are going with his idiocy.

And you're simply making up nonsense so that you don't have to admit that you're wrong about Greenspan. If you believe in the free market you do not accept a job as Federal Reserve chairman, you do not artificially manipulate interest rates, and you do not accept that stimulus spending is the way to get the market out of a recession. Thus proving that Greenspan did not believe in the free market.

 

[Oddball]

And you're a goddamn idiot who can't see a currency monopoly -hence no free market- when it's staring you in the face.

Dickweed.

yawn...

having another hallucination are we?

You've had your thread premise busted to pieces, asshole.....Just man up and admit it.

 

[Procrustes Stretched]

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?

You are confusing ideology and philosophy with real world actions. Believing in a system and allowing it to fail was never an option for those in charge. Since the system itself was never totally pure as a free market it is impossible to see where you are going with his idiocy.

And you're simply making up nonsense so that you don't have to admit that you're wrong about Greenspan.

Nope.

If you believe in the free market you do not accept a job as Federal Reserve chairman, you do not artificially manipulate interest rates, and you do not accept that stimulus spending is the way to get the market out of a recession. Thus proving that Greenspan did not believe in the free market.

You are being doctrinaire and worse. Greenspan was a close associate of Rand's. He tried to make the market we have as free of regulation as he could. He was not able to do what he would've given that power (thank gawd).

There is NO invisible hand to guide markets. That is as goofy as the happy talk we hear from people in the diet pill industry.

 

[Procrustes Stretched]

And you're a goddamn idiot who can't see a currency monopoly -hence no free market- when it's staring you in the face.

Dickweed.

yawn...

having another hallucination are we?

You've had your thread premise busted to pieces, asshole.....Just man up and admit it.

Followers of Ayn Rand almost destroyed America and the free world when they were given even an iota of power to put forth their whacky philosophical nitwittisms.

 

[Kevin_Kennedy]

You are confusing ideology and philosophy with real world actions. Believing in a system and allowing it to fail was never an option for those in charge. Since the system itself was never totally pure as a free market it is impossible to see where you are going with his idiocy.

And you're simply making up nonsense so that you don't have to admit that you're wrong about Greenspan.

Nope.

If you believe in the free market you do not accept a job as Federal Reserve chairman, you do not artificially manipulate interest rates, and you do not accept that stimulus spending is the way to get the market out of a recession. Thus proving that Greenspan did not believe in the free market.

You are being doctrinaire and worse. Greenspan was a close associate of Rand's. He tried to make the market we have as free of regulation as he could. He was not able to do what he would've given that power (thank gawd).

There is NO invisible hand to guide markets. That is as goofy as the happy talk we hear from people in the diet pill industry.

As Fed chairman he was in a position to raise interest rates and not finance any stimulus nonsense. However, if he truly believed in the free market he wouldn't have accepted the position as Fed chairman in the first place. His entire career proves he was against the free market because he believed he could centrally plan the economy. He was at one point associated with Ayn Rand, and he did once believe in the free market. However, he gave up those beliefs.

Now you can try to spin the situation and make excuses as to why the supposed champion of the free market couldn't actually forward any free market policies, but it's obviously nonsense.

 

[Oddball]

yawn...

having another hallucination are we?

You've had your thread premise busted to pieces, asshole.....Just man up and admit it.

Followers of Ayn Rand almost destroyed America and the free world when they were given even an iota of power to put forth their whacky philosophical nitwittisms.

I'm not a follower or Rand or her cargo cult, numbnuts...And your thread premise is still dead.