Free Markets Are Not Free.m4v

Debunking the Republican, right wing myth that government regulation is what is stifeling the economy

Category:

News & Politics

Tags:

• economics
• government regulation
• Free Market

[TheForwardGaze]

Wasn't the Glass-Steagle Act removed in a bill signed by Bill Clinton?

[vudu8ball]

@TheForwardGaze Yes it was. In the House, 155 Democrats and 207 Republicans voted for the measure, while 51 Democrats, 5 Republicans and 1 independent opposed it. Fifteen members did not vote. Bill Clinton was one of the best Republican Presidents we ever had! Unfortunately the financial iterests in this country own the government Republican and Democrate alike. It doesn't change the the arguement that regulation of markets is a necessity not a hinderance to economic health.

[cskipper65]

@vudu8ball Maybe everything blame on free markets is manipulated by the FED.Is it regulations that save us or does the FED over inflate markets to a bust and then push the public to blame freer market Capitalism? Not just financial but also moral and personal beliefs through inflation and taxation. It is much easier to blame the private sector than the FED because the FED makes the rules. Have you researched what a centralized banking powers can do? That is the power we should be questioning.

[vudu8ball]

@cskipper65 The banks and traders all need to be heavily regulated. The present depression has been caused by banks being "to big to fail", the promulgation of unregulated drivitives and preditory fraud perpetrated by the morgage industry. unfortunately Obama is a bank man and the republicans are mired in an ideologic and religious quagmire so nothing will be done. Maybe next time.

[mdt2189]

Hey man, is it cool if I post your video on my facebook page? All of the points you've made are amazing and so much more coherent than I ever could hope to achieve.

[vudu8ball]

@mdt2189 That would be great!  Thanks.

[cskipper65]

@cskipper65 to me it is as if we play right into the hands of the big businesses that already have a hold of the government. So what do we do we ask for more and more of their abuse because we think the fire started with these companies when it was the government supported FED that continues to pay them off. Look at the history of the FED and you may find smoke there. They prop up bad companies not the free market that far left people want to believe.

[cskipper65]

@vudu8ball the biggest irony of it all is that Greenspan considered himself a free market libertarian. someone tell me how a free market libertarian sets the rates and money supply and can be honest with himself and his beliefs. He deflected his personal beliefs onto what he said he supported in which he never did(confusing). Then the finger pointing begins and we beg the government for more regulation on our business and personal liberties. Its like a battered wife syndrome (bad analogy).

[cskipper65]

@vudu8ball but because the FED gave their approval and backing of this type of investment instead of the market weeding out bad business. Then the FED followed up a incoming recession with ridiculous rates to save us once again. Now the combination of this approved bad investment practice along with easy money magnified an issue the markets could have worked themselves out of by 100 times. The FED has been the issue and Greenspan like a coward blamed the free market. Irony

[cskipper65]

@vudu8ball I think we both agree that "to big to fail" is the problem. The question is it regulation or not enough regulation. Derivatives became a problem when the FED worked out a deal with LTCM to cover up the mistake of over leveraging through derivatives . Had the FED not existed and had the power from the government to intervene that company would have failed and would have been a notice to other companies of the risks involved in that type of investment.

[TheForwardGaze]

@cskipper65 Under communism there is no state; it slowly dies with capitalism due to the implementation of democracy in the workplace.

[cskipper65]

@TheForwardGaze State Capitalism is another word for Communism or at least the next step toward communism.That is the progression.The more you centralize power the more opportunity for abuse. It does not matter if it is Government of Corporations.The Constitution knew this and put into place regulations on the Government.Modern Socialist push for more regulation with no end in sight. That line has continually been stepped over until full gov. control. Question the FED's power and its influence.

[TheForwardGaze]

@vudu8ball I agree. I agree. State capitalism and regulation is necessary. And I think most republicans would agree with that, too, despite their rhetoric. History has shown that state capitalism can serve the interests of the majority or the few. The problem, as Gore Vidal put it, is national amnesia.