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RE: Free Market question - 9/27/2011 6:07:06 PM

Fellow

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quote:

So the recent banking crisis was really generated by the government?

How about the mortgage crisis? The government again?

What if we go back to the savings and loan scandal?

We do not have free market system. With sound money, fair competition, and the market setting the asset prices and the interest rates this kind of scandals are very unlikely. The mortgage crisis is a direct result of the central bank interest rate policy. So is the banking crises the direct result of government policies: the way money and credit is created, "too big to fail" enabling high risk-taking and fraudulent accounting.

(in reply to rulemylife)

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RE: Free Market question - 9/27/2011 7:52:48 PM

willbeurdaddy

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quote:

ORIGINAL: TreasureKY

quote:

ORIGINAL: tazzygirl

Never mind, I found it

and my paraphrasing was accurate

Perhaps you could share with us?

Apparently not.

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RE: Free Market question - 9/28/2011 1:13:42 AM

Masta808

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quote:

ORIGINAL: Fellow

It has been often argued libertarian type true free market systems do not control monopolies and fraud. Therefore, large governments are necessary to impose controls. In practice, of course, the governments themselves commit and aid massive fraud no free market system would be capable of. I would argue, free market systems have a strong community base, and this itself reduces fraud, while highly centralized systems (like in the US) massive fraud and corruption are natural phenomena. No free market system could generate fraud and corruption in scale it happens today in the US (and actually worldwide).

Exactly thats why corporation are doing so well in Somalia. They have no central government there.

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RE: Free Market question - 9/28/2011 9:26:48 PM

tazzygirl

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quote:

ORIGINAL: TreasureKY

quote:

ORIGINAL: tazzygirl

Never mind, I found it

and my paraphrasing was accurate

Perhaps you could share with us?

Its not that difficult to find. I didnt want to post the source because I wanted a better understanding of the possible meaning without tainting the question.

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RE: Free Market question - 9/28/2011 9:33:04 PM

tazzygirl

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quote:

With sound money, fair competition, and the market setting the asset prices and the interest rates this kind of scandals are very unlikely.

Whats to prevent a monopoly?

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Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
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Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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Post #: 25

RE: Free Market question - 9/29/2011 2:13:42 PM

tazzygirl

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Bumps this

I would still love to see an answer to my question

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Post #: 26

RE: Free Market question - 9/29/2011 4:10:55 PM

tazzygirl

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LOL

I find this funny... Considering Ron Paul said it.

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RIP, my demon-child 5-16-11
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Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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Post #: 27