Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

Just Say No to Fiat

Posted by Jesse on November 30, 2007

Lew Rockwell writes:
“But shouldn’t we do something to address the credit crunch? Yes, and that is the following: let it happen. After all, a credit crunch is not an act of nature. It is a response to an economic expansion that is not justified by fundamentals. How do these occur? It is not part of the structural dynamic of the market economy that an economy suddenly embarks on irrational exuberance for no good reason. Misdirected investment in some projects at the expense of others is brought about by credit expansion beyond which it is justified.”

The idea of freedom is fought for, sought for, and denied. Consistently.
It’s a scary thought. As Dr Paul stated at this private function, people agree with the philosohy of liberty. Generally people abide by and live by the idea, but everyone has an opposing view. They say: “I think people should be free, except for here, or here…” Eventually you have so many laws that society ends up in a stranglehold. Freedom really is a matter of faith. What do you believe?

The confusion lies in the limits of government. Should one be able to vote on an issue that doesn’t affect them? One hears the concern over a bureaucrat making decisions from an office that is so remote from the situation. The principle should remain the same for the citizen. Localize the issues. Don’t subsidize them.

Mr Rockwell concludes:
“Here’s what I would like to see: the whole of Wall Street rising up against the Fed and demanding that it turn off the spigots and let the economy get back on an even keel. Let the correction happen and let profits and wages fall in the overblown sectors. Then we could even disgorge the Fed of its powers and establish a free-market monetary system.

But of course in doing this, the corporate class would have to forego its short-term interests in favor of the long-term interests of everyone. And yet, that’s what good economic thinking is all about.”

Right on dude.LoL


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