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Entry: Confessions of a Bitter Old Reactionary Link: http://www.takimag.com/blogs/article/confessions_of_a_bitter_old_reactionary#23561 Post contents: Tristian New sez: "Justin, you’re yet another victim of the Keynesian economic system our mendacious politicians and their banker-bureacrat cronies." Well Tristian, you’ve got your economic theories all mixed up…Keynesianism is entirely different then Milton Friedman’s “monetarism”. Keynes said the Great Depression was caused by drop in consumer demand, and “Libertarian” <sic> Friedman got the Noble Prize for allegedly “proving” that the depression was caused by a mere drop in the money supply. If you want to give credit for the real estate bubble, and the subsequent---and inevitable bailout by the government, look to Ayn Rand Cult member Alan Greenspan, who engineered the damn thing. And don’t forget to give credit to “free market” theorist, Milton Friedman---whose ideas fueled the growth of the power of the FED. And don’t forget the Neuter Gingrich “libertarian” Republican Congress who passed legislation “deregulating” the banking industry that turned middle class home mortgages into a speculative investment. So thanks to fools like you who actually believe in all this “laissez faire” nonsense, we’ve got a political system that enshrines “free market fundamentalism” ----the completely idiotic and improvable belief that the unregulated “free” market always achieves a equilibrium”. In fact, the last 40 years has proved the opposite, from the S&L;bailout to the dot-con, to the mortgage derivative crisis. And of course, all this nonsense is fueled by the unlimited power of the FED to create credit from thin air--again thanks to folks like you and Justin, and the Ron Paul crowd. It‘s all poetic justice when you get screwed by the very system you created. Look all the “free market fundamentalism“ is all about is creating wealth for a few insiders---like Greenspan---by creating economic insecurity for the rest of us. Sent at: 2008 07 04