Ah, yes.... The collectivists controlled the Presidency, the Senate, and the House of Representatives and used their power to regulate the credit derivatives market out of existence. How much better things would have been if the Chairman of the Federal Reserve had heard of Objectivism!
Even the off-hand pop culture references are crapulous: "A Confederacy of Dunces" surely counts as a "classic novel of recent decades that was never made into a movie", and it is a lot funnier than anything Ayn Rand ever wrote.
he expanded the money supply in 1995 and again in 2000 in order to create growth. Since you can't create growth out of thin air these bubbles eventually burst. This is blatant Keynesian economics, the opposite of the free-market.
Ayn Rand thought she had something important to say about society. And I've seen interviews with her on the media, where she's seemingly invited in just to be mocked and called greedy. So frankly, I think she had - and still has - a point.
I think the writer's being over-the-top, but I also think that the bailout is going vastly over-the-top and I think that Obama's plan to continue it isn't helping things at all.
Don't understand your first sentence totally. You do admit that collectivists have controlled the Presidency and House and Senate for the last 8 years, yes? Bush, in particular, is no anti-collectivist. Some people get confused by labels, e.g., Republican, so I just want to make sure.
Asset bubbles always happen. They probably always will happen. Now that the bubble is bursting, the collectivist mismanagement over the last several years is making us extra vulnerable. Even more horribly, the current and coming response is dooming the recovery to a much longer period than if the economy were allowed to reach equilibrium on its own.
Even the off-hand pop culture references are crapulous: "A Confederacy of Dunces" surely counts as a "classic novel of recent decades that was never made into a movie", and it is a lot funnier than anything Ayn Rand ever wrote.