The Death Throws of Unregulated Ronnie Raygun Friedmanite Capitalism
Originally POSTED Aug. 1, 2008
Lemon Socialism
and entry into his 'Flat-World Economy' Challenge

Blame Friedman & Reagan

1. Ronald Ray-Gun frequently carried around a copy of Milton Heinous Bastard Friedman's Capitalism and Freedom

2. Republican's from that time focused on de-regulation of the economy-
"Friedmanite-freeing the markets from government controls"

3. VP Dick Chaney repeatedly stated - "deficits don't matter"

4. GHW Bush - doubles national debt from 3 trilllion to 6+ trillion
5. inherent greed of free-market Capitalists finally destroys economy - Sub-prime mortgages

6.

September 09, 2008 "US Bails Out Fannie Mae & Freddie Mac" Mortgages/Housing - NATIONALIZED $200 billion "The US government has seized control of the mortgage finance companies Fannie Mae and Freddie Mac in what could become the largest corporate bailout ever. The Treasury Department has pledged to provide as much as $200 billion as the two quasi-public companies deal with heavy losses on mortgage defaults". Democracy Now

September 16, 2008 American International Group NATIONALIZED $85 billion Federal Reserve rescues AIG "Highly unusual decision effectively nationalises insurer" "The US government has seized control of the world's biggest insurance company, AIG, in an $85bn (£47bn) emergency rescue to avert a "disorderly" bankruptcy which threatened to wreak havoc with fragile financial markets." The Guardian

7.

8. US Government $700 + $120+ billion bailout

Regarding the $700 billion number, Forbes.com quoted a Treasury spokeswoman:
"It's not based on any particular data point. We just wanted to choose a really large number."

Milton Friedman showed, and current FedReserve Chairman Bernanke agreed, that
the Great Depression was caused by the Federal Reserve’s manipulation of money
– choosing to aid certain banks over others.
This is strikingly similar to what we’ve just seen happen again.

9. Friedmanite Economics dictate that-
former illegal activity by a financial institution or its executives must end up being hidden.

AFTERMATH: the Capitalists will keep any profits, the middle class tax payers will carry the debt for generations,
and
the bailout will eventually cause hyperinflation and dollar collapse and depression.
WHY?

• in 2006 China owned $321 billion US Debt
• in 2008 it's $1.4 Trillion
that is - on Average every single American owes China - $4000

10. FINALLY: In discussion - CNN's Fareed Zakaria and Bill Gates both agreed that
"strict government control of Capitalism will always be necessary to counter its inherent tendency towards greed".
"Will it ever happen with Capitalists in control?" Doubtful because "one can not legislate against greed".

Socialist USA - for the first time in history America, following CUBA, has through it's actions admitted that there is a moral duty to fund/provide proper housing for it's citizens.
When will Canadian and British Columbian society follow suit?

2008.10.08 22:45h It has been three days of down on the DOW / World Markets Countries were bailing out their banks Harper finally threw $20Billion at RBC and banks cut interest rates - though he continues to say 'Our Economy is STRONG & Safe'

"The problem with the current global crisis is that it is acting like a disease that is progressing with terrifying rapidity. "In response, the financial medicos are throwing every drug and scalpel they have in their bag at the problem. We have seen rate cuts, trading bans, bailouts, loans, nationalizations and TARPs ... and that's just the last two weeks! "But that profusion of responses means that neither they nor investors know what is working, what is having no effect, and what might actually be making the system even sicker." Duncan Stewart

 
11.  Bank Shot - millions of worthless US mortgage contracts

An Alternative to Friedmanite / Reaganomic De-regulated Globalized Capitalism