Posted by
Mike on Monday, September 19, 2011 4:10:30 PM
http://www.westernperspective.blogspot.com/
The deregulation of the financial sector during George W. Bush's
administration led to wild speculation in derivatives which added fuel
to the housing bubble created by sub-prime lending backed by government
guarantees. It is one thing for government to promote better living
conditions by offering tax credits and other types of incentives. It is
quite another thing for government to attempt to manipulate the lending
market as was done by some members of Congress, leading inevitably to
financial collapse. That is why these elected officials must go.
Our economic system, like that of the discredited systems of socialism
and communism, all grew out of 18th and 19th century European liberalism
and are based upon false premises. In the case of capitalism, the
super-rich wealthy unjustly usurp power belonging to the people, taking
away our cherished individual freedoms using security as a
justification, when in fact it is their own rapacious appetite for world
economic domination through creation of democratic regimes that brings
about global instability.
The only solution is for government to voluntarily restore power to the
people in local communities, so that the free market will not be tilted
in favor of the wealthy few and against the majority including those who
are poor.