We've all heard the real economic news by now, or worse, experienced it. You've gone to the bank to find it closed, or you've gotten laid off, or you're just feeling the pinch in your wallet as money grows ever tighter. You need to understand how and why it happened if you're going to get yourself out of this economic mess, because surely you've figured out by now that your so-called leaders in Washington aren't going to do it; they seem hell-bent on making things even worse for you.
The Big Bailout Circus has the nation in stitches. Taxpayers are being sewn into a skin-tight forever suit by an amazingly bipartisan group of government clowns. But despite the agreement about the need for a slap dash redo of the U.S. financial system -- and by extension our political system -- the designing bozos disagree about details. And none can resist an occasional hit of the rubber chicken . . .
It's bad enough that the federal government wants to spend trillions of dollars of your children's money to bail out financial institutions that should be allowed to collapse for the good of the economy. But under the terms of the proposed bailout plan, the government will be able to rescue bad banks in secret.
I get more spam than most, and I just hit the Junk button for most of it. But when spam comes in with my real name attached, then I give the spammer a few minutes of extra attention. Usually this results in their web hosting and advertising accounts being canceled.
Last week the world of finance was rocked hard as the policies of the Federal Reserve and the U.S. government finally came home to roost, with one major investment bank going under and many more in dire straits and being bought up at fire-sale prices.
Neither straight-up businesses nor flat-out government agencies, Fannie and Freddie have enjoyed the best of both worlds. With their privatized profits pumped by the implicit guarantee of socialized losses -- in case of disaster break glass and soak taxpayer. That implicit guarantee has now become an explicit government takeover by the U.S. Treasury.
Gardner Goldsmith explains why claims by politicians that consumers can become "irrational" and why claims by the same politicians that government can help "fix" markets are both false and misleading. He also explains what the terms Praxeology and Epistemology mean, which is key in understanding how to place free markets in their proper place among human history.
Join the members of the Liberty Conspiracy as they discuss issues ranging from the "Incorporation Doctrine" and gun rights, to the NBA, to protests conducted at military funerals, protests that are being challenged by government, and which will be heard by the philosopher kings in the U.S. Supreme Court.
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