During this whole mug-the-taxpayer debacle, a.k.a. the "Bailout", or *cough*, the "Rescue" of Wall St., I've been having some "spirited debates" with various members of the Sociocrat wing of the Republicrat Party.
"SEE!", they howl with a misinformed smugness, "THIS is what you get with a *sneer*, free market economy!!!"
Ahem. "Exactly what free market economy are you referring to, sir?", I retort.
"Wha-wha-WHAT?!?", shrieks the stunned Sociocrat. "Why, the evil, greedy, capitalistic free market economy of America...the one you 'fiscally conservative' Republican & Libertarian types brag about! What do you have to say about your hero Adam Smith now?"
*Cough* "Exactly what fiscally conservative Republicans are you referring to, sir?", I ask incredulously. "Nevermind. How can you possibly consider Fannie Mae and Freddie Mac part of a free market economy? Remember the Clinton administration, Barney Frank, and their legislation to force mortgage companies to make loans to people who would otherwise not qualify in a free market economy?"
"Oh, well, they were just helping out the poor and the common man.", says the Sociocrat.
"No, don't try tugging on my heartstrings...come back over here to the discussion of our alleged free market economy. How does government enforced lowering of mortgage qualifications even remotely fall in the realm of the free market?"
Answer: It doesn't...it is one of many examples of how we DO NOT have a free market economy, so stop blaming capitalism, do your homework, then open your eyes to reveal the true culprit of this Latest Economic Apocolypse.
The Problem With Truth
4 years ago