Andre said to Michael:
...Has Government driven this trend of using money 'representing the value of
goods...' to money as a commodity in itself? Is Government responsible for
this? Is Government responsible for the financial bubble farces that have gone
on over the years?
dmb says:
The free-market conservatives, the one's who have been undoing the New Deal by
deliberately starving the government for thirty years, have achieved
de-regulation in just about every sector of the economy, including the
financial sector. The housing bubble, for example, can be traced to the repeal
of regulations that kept mortgage banking separate from investment banking.
Now we see what the invisible hand of the market place does when it's left to
do what it will. Free-market deregulation has been tried and it's pretty
obvious that we need a different approach. It also seems pretty clear that
free-market conservatives are mostly in denial about this and there's a whole
lot of revisionism going on right now. In a radio interview, I heard a Tea
Party leader answer a question by denying that George W. Bush is a Republican.
To say Obama is at fault for the bank failures and the implosion of the housing
market and the unemployment rate - that's pure revisionism. Obama was just a
candidate when that shit hit the fan.
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