The Turkish Genocides, the Endless Story

21. November 2008 by admin.

From Facebook group “Turkish troops out of Cyprus” we received word that MSNBC is holding a live poll, if the US should formally recognize the World War I-era killing of Armenians as genocide?

The group: “As of a few minutes ago the numbers showed Yes 20%, No 80%! The Turks have mobilized a global campaign to shift results towards “No” but we can’t let them.

The Armenian Genocide is a historical fact, along with many other crimes against humanity (…) and it should be recognized.

Please vote ‘ YES ‘ at the below link and send it to everyone you know. >>>

- Caption: from the Genocide Education Project -

As long as Turkey is able to get away with their denial, all concerned - Turks, Armenians, Greeks and Assyrians - will never be able to close the book on this painful episode in the history of the Ottoman Empire.

Even last week The Brussels Journal published an article by Tiberge, “For the EU, Sarkozy and the UN, Turkey Is Already in Europe”, quoting Turkish Defense Minister, Vecdi Gönül during a ceremony at the Turkish Embassy in Brussels honoring the 70th anniversary of the death of Ataturk (d. Nov. 10, 1938), in atrocious denial, praising the policy of what he termed the “deportation” of the Armenians, because it allowed the construction of the Turkish nation.

-Caption: Red Cross photo on Hellenic Genocide-

“Would it be possible today to maintain the same national State if the existence of Greeks in the Aegean region and of Armenians in several regions of Turkey had continued as before?” Vecdi Gönül asked. “Remember, before the republic, Ankara was composed of four sectors: Jewish, Muslim, Armenian, and Greek… When I was governor at Izmir I realized that the Izmir Chamber of Commerce had been founded only by non-Muslims. There was not a Turk among them.”

The article goes on to quote a comment by French blogger Yves Daoudal:

“Before the republic”, Izmir was called Smyrna and it was a Greek city, and stayed that way until 1922, when it was conquered by Ataturk. But he had to deny that Izmir was a Greek city before the Greeks were chased out of it, as he had to deny that the most fortunate deportation of the Armenians was a genocide (…) ”

This has now gone on long enough. Turkey wants to join the European Union. If they want to be a mature state, they should grow up and own up. An organized denial to vote No to a poll is hardly the answer towards resolving this serious question.

- Caption: Headline of a 1922 Times article -

Related:

- Politeia: “The Medina Precedent for Holocaust and Genocide”
- Jewcy: “Understanding the Islam in Islamic Antisemitism”, by Andrew G. Bostom (in 3 parts)
- The Lighthouse: “Pope Benedict XVI in Turkey: day 1”
- The Lighthouse: “Transnational Progressivism: an Inexplicable Presumption”

- Filed on Articles in “The Armenia Chapter” -

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A Message for the American Church

19. November 2008 by admin.

Anyone who’s been following the news and who’s also been watching Christian television or regularly visiting Christian ministry web sites has likely heard that our experts say we’re entering a period of turmoil.

 

Bankruptcies and bailouts in the financial sector, a rescue passage for America’s “big three” auto-makers, bankruptcies in the insurance and retail sectors coupled with an increased threat of terrorism have prompted an unprecedented number of experts, preachers and prophets to forecast the coming downturn.

 

The politicians are forecasting at minimum a recession.  Some political leaders say a depression bigger and longer than the Great Depression is on the way. 

 

Forecasters and economists even say the nation will see food riots.  Some political leaders upset at the turn of events forecast a second shooting war for America’s independence.

 

Preachers a ministers from evangelical and Catholic circles say that the United States and the rest of the West is entering a time of judgment—an upheaval the likes no one alive has ever seen.

 

Regardless of the forecasts, the United States may be entering a time of judgment.  If we are, it’s not because we’ve elected Barack Obama.  If we’re entering a time of judgment, it’s not because we elected George W. Bush for two terms, nor is it because we elected Clinton twice.

 

In fact, the coming judgment isn’t because of which party holds a majority of seats in Congress or occupies the White House.

 

We’re not entering a time of judgment because we don’t allocate enough money for child daycare.  We’re not falling under the Lord’s decrees because we don’t spend enough on agricultural subsidies or because of the war in Iraq.   

 

If the nation is entering a time of judgment, it’s because we’ve slaughtered about 50-million of our babies since 1973.  If we’re entering a time of judgment, it’s because of the filth and the perversion that fills our nation’s airwaves, satellite transmissions and flows through our internet lines in cyberspace. 

 

The Lord will send judgment because of profane-laden diatribes in our movies, music and literature.  The Lord will send judgment because we permit the exploitation of our poor through games of chance.  It’s because nationally we’ve failed to take a stand for righteousness.

 

If we’re entering a time of judgment, it’s because one hundred years ago our seminaries began to turn out graduates who no longer believed the Bible as the Word of God. 

 

It’s because the seminaries began denying the bodily resurrection of Christ.  It’s because our pulpits grew cold and indifferent to the truth and began preaching a Gospel of accommodation.

 

Our pulpits have preached a Gospel of self-fulfillment and self-exploration.  Our pulpits began to preach a “me-first” Gospel and denied the way of the cross.

 

If we’re entering a time of judgment it’s because the church in America has grown lethargic, fat, happy and satisfied with the status quo.

 

If we’re entering a time of judgment, it’s because our pulpits and pews no longer have a heart to win the lost or to “go into all the world.”  If we’re entering a time of judgment, it’s because the church stopped being concerned about righteousness and began being concerned with what the world thinks of us.

 

It’s nothing short of denying the Words of Christ and living lie if the church ever believed, or still believes, that the church can make peace with the world.

 

The church’s marching order from Christ Himself is to “make disciples”, not to make watered down converts who know nothing of the power of the cross and Christ’s death-defying gift of self sacrifice.  The church wasn’t to be about the business of trying to find its place in the world, the church’s purpose was and is to transform the world through the Holy Spirit’s power and through the cleansing tide of the pure, spotless blood that flowed from Christ’s outstretched arms.

 

The church’s mission is to preach repentance, death to self and a resurrected life, not a life of ease and self-actualisation.

 

The answer to the warnings of coming destruction isn’t to join a commune or a political party.  The answer is for the true body of Christ—His holy remnant—to come out and live an in-your-face level of discipleship and holiness.  The answer is to be on our knees pleading before the throne of grace for the power to live a holy life before the world.

 

Two weeks ago, I had a dream in which I was to do a joint worship service with one of the former pastors of the church where I am pastor.  I was puzzled by this dream because the other pastor in the dream is dead. 

 

When I arrived for the service, I walked to the platform and stood among the choir members for this service. 

 

Yet, for the duration of the dream, the inclination in my heart was to walk away from the crowd and the service.  I felt led to leave the room in which the service was to be held. 

 

I was following a sense of direction to come out from among them.

 

After puzzling on it and praying about it, the message was clear.  I was being called to come out from the dead.  I was being called to come away from the dead institutional church of American Protestantism.  I was called to come out of dead works and the watered down, weak church as usual.

 

I was called to come out and be separate from the compromised, weak, and ineffective American “social club” religiosity. 

 

The message is also clear for the rest of America’s true, born again believers.  We’re called to come out and be separate from those who play church.  We’re called to live as the church triumphant, but also the church militant.  We’re called to live under the shadow of Christ’s cross and to truly learn what it means to drink from His cup. 

 

We’re called to proclaim and live the Gospel before the world in an uncompromising way.  We’re called to no longer play games and to tolerate weak teaching that advocates a version of Christianity that calls for a watered down Gospel.

 

We’re called to call sin, sin.  We’re called to tell people that if they don’t repent of their evil deeds they will perish and go to a Christ-less eternity.  We’re called to warn people about hell and to powerfully and uncompromisingly tell them about the love of God in Christ Jesus our Lord.

 

We’re called to unapologetically teach Christ and Him crucified, dead, and risen. 

 

We’re called to a life of death to self and a life of taking up our cross and following Him without apology.

 

This is the only answer for a nation that is on the brink of judgment.  

 

 

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17. November 2008 by admin.

Link to latest newscope show:
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Newscope transcrript- 11-17-08

17. November 2008 by admin.

American Freedomist Network presents Newscope with your host, and accomplished uno card player, Paul Collier. Today, Paulson’s about face has officials concerned, the handover of our sovereignty to the G20, Obama continues to recruit Clinton drones, the Africa problem for Obama, Medvedev welcomes fellow Fascist into the white house, financial news, world news, and political news.

We start off with a look at world news:

The Africa Problem

Now that Obama really is the man, what’s he going to do with all that military stuff? He isn’t going to keep that stuff overseas, according to his own words and those of his disciples. Or is he? You see, Africa is becoming a major epicenter of violence, violence that could spread to other parts of the world.
This violence is largely born on tribal territorial battles, battles that use religion as a means of calling its thugs to the streets. The primary religion on the attack is Islam. Conflicts in the Congo, the Sudan, Somalia, and more all surround the belligerent, genocidal practices of Obama’s own people, Islamo-Fascists. How can an American President who is really a fascist interloper find the moral compass to protect Christians from Obama’s murdering brothers and sisters (in Kenya, a murderous cousin, a fellow Islamo-Fascist)?
How can he pull all the troops home if so many agents are set to destroy us, overseas or at home. To stop the killings, you need professionals, professionals that only a select few nations can provide, professionals like the American military. The willingness of Obama to pull back may come from his not-so-secret desire to see a weakened America that will allow Fascism to spread.

Comrade Medvedev happy to have Comrade Obama as President of the US
In a tone that bordered on fantastical, the new President of Russia, Dmitry Medvedev seemed to suggest that Obama will heal the rift between the US and Russia.
Here is what Russia has done:
1. Siezed pipelines in Georgia in an effort to control the flow of oil to Europe, raising the price of oil if they can.
2. Illegally, and with no action on our part, pumped billions of dollars to buy….rubles. Flooded its currency market to raise the value of its ruble, while devaluing the American dollar
3. Sold high tech military equipment to Saddam Hussein, while we were fighting him.
4. Sold high tech military equipment to Iran, Syria, North Korea, etc, in an effort to undermine worldwide security, knowing it would be an overburdened American military that would have to quell the unrest
Nothing the Russians have been done have been anything but clearcut efforts to attack out nation, through diplomacy, through economics, and through funding terrorist nations and groups. If Comrade Obama makes nice with Russia, it will just be further evidence of his love for anyone and anything not American. The interloper will surrender our greatest technologies to his Russian and Chinese brothers and sisters.
Wall Street Journal

Yemen’s Gunantanamo Problem
Barack Obama has promised to close Guantanamo Bay, sending all the detainees and their orange jump suits back to their home countries. There’s only on problem with that, Yemen. The small middle eastern country at the base of the great Arabian boot has a nasty little habit of releasing any terrorist we send to them, or that they themselves capture. There are about 100 such cases in Guantanamo right now, 100 organge jumpsuits who, when they weren’t wearing jumpsuits, were plotting and carrying out muders, kidnappings, etc, all designed to kill American citizens, whether they be soldiers or not.
No comment from the Obamarx about the unique problem connected to closing Guantanam; What do you do with 100 Yemenis dying, literally, to kill more Americans, knowing they will be set free if you turn them over to Yemen.
Perhaps the Obamarx will react differently now that he is no longer one of the leaders of a far left fringe. Now that the Obamarx IS the establishment, will he allow assassins of American boys and girls fighting for our nation to simply be set free? Only time will tell.
Miami Herald

That has been the world news….Now
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Now, back to the news.

The world markets are still experiencing downward trends intermingled with profiteering. Here is a look at what’s going on behind the numbers.

Financial News

Before we look at today’s financial news, we want to play this clip of ron paul giving Bernanke a thorough schooling. Too bad he didn’t listen”

First 3:00

The Big Three plead for help…a cnn Youtube clip

G20 set to muddle up Auto Bailout

World Leaders at the G20 meeting have a problem with a U.S. automaker buyout. They say it amounts to nothing more than protectionism, with the French leading the way, as usual.

The smaller nations,the so-called emerging ecomomies, are part of a growing camp calling on a moratorium on “protectionist measures”

The French favor global regulations, while nations such as Canada argue that any such moves will be seen as a violation of national sovereignty.

Also, America is now being monitored by the IMF, will submit the Federal reserve to the authority of a college of supervisors, and is, in essence, now a part of the European Union, without a vote. The actions of this G20 summit may have already violated our basic Constitutional Rights and national sovereignty, done so under a supposed Republican, George Bush, a name that will go down in the annals of history as being a traitor to his party, his people, and his nation, a man who handed away the United States, willingly, for the sake of a few dollars for his well-to-do family and friends.
From the Washington Post: “Here you had everyone at the table trying to come together, and Sarkozy was out there trying to write the world according to Sarkozy,” said a senior diplomat present at the summit. “It was not helpful.”
The tone of the meeting is that the emerging nations, such as China and India, see this crisis as an opportunity for their nations to become major players in the world economy. No talk of the Chinese/Russian efforts that led so greatly to the crisis in the first place, through subsidizing their own currency to drive the dollar down, enabling them to buy cheap raw materials in America, build products with poorly paid and treated workers, then resell to the American market at highly profitable levels.
It is the inclusion of corrupt markets, such as China and Russia, into America’s marketplace that have contributed significantly to the accelerated process of that same corruption reaching American soil
Yet as this meeting has developed, it has become clear that some of the very nations who conducted economic war against the west, now seek rewards for their illicit efforts.

Wash. times

Chrysler finds $30 million for its executives
Imagine if you will that you walk into your parents’ home, waving tons of cash around, living the good life with a new Benz and a new home, then, and only then, you ask your parents to bail you out of your bankruptcy problem.
Outside of the occasional mad parent who gives their child everything they want, no sane parent would offer to help such a person. Yet the Obamarx and his fearful sheeple congressfolks plan on doing that with Detroit’s automakers.
According to the Detroit Free Press, Chrysler offered $30 million in “incentives” to keep their “top talent” in place, the same talent that brought Chrysler to the brink of death. In light of Chrysler now asking for billions in bailout money from Uncle Same, the incentive packages are controversial, to say the least.
Chrysler’s response has been, through a human resources VP (not named in the Detroit Free Press article) that the bonuses were agreed to a year ago, before talks of a bailout surfaced. In point of fact, even a year ago, under this same valuable talentm Chrysler was hemorrhaging money, which is why they sought Daimler’s partnership, i.e. much needed capital.
“We all would be smarter if we knew what we know now back in February of ‘07,” she tells the Free Press, insisting that the bonuses, which range from $200,000 to $1.89 million, “were very conservatively constructed”. We here at Newscope are so awfully proud of her and her company for showing such restraint.
Obama says: “If we don’t have a focused program for homeowners by the time I take office, we will after I take office.” He also said the federal government must help the struggling auto industry. “For the industry to collapse would be a disaster. But it can’t be a blank check,” he said, adding that aid should be a “bridge loan” to create a “sustainable” industry.`
Detroit Free Press

Paulson’s flip gaining resistance on both sides of the aisle
When Hank Paulson unilaterally decided to shift the funds congress was bullied into giving him (using scare tactics), he did more than lose credibility. He lost billions of dollars in the markets, thanks to his unspecified, unregulated plan to rescue poor millionaires and billionaires.
Democrats and Republicans alike slammed the poster boy for this bailout, Neel Kashkari, at a recent Congressional hearing, accusing him of “bait and switch” tactics. Dareel Issa pointed out that Paulson pitched them with an idea to sell of bad debts in auctions which the government would buy, reverse auctions, as they’re called.
Yet, as soon as he got the $700 billion (in addition to to $500 billion he illegally created), he switched tactics, deciding to give millionaires and billionaires handouts, create a climate in which the haves can easily purchase the have-nots, AND get Americans who see NO benefits to pay for it for years to come.
There is a growing mood amongst Congress members that this is becoming more about Paulson’s attempt to claim powers that were not constitutionally given to him. Yet, not one mention of the illegality of the legislation, a spending bill initiated by the Senate, which is unconstitutional.
Washington Times

Let’s take a break here for some levity
This is Newsbusted from 11/14/08

The next shoe to fall in the credit freeze of 2008

Did you know that the charge-off rate has doubled in the last year? From 5% to 10%, that’s $96 billion out there- money they don’t even think they’ll get. You see, we’ve overspent, overextended, and even lost our home equity. So, while credit cards do well in typical recessions, they won’t this time because no one has any credit left to spend. Experts expect the charge-off rate will continue to climb, with no ceiling in mind.
As more and more Americans stop paying their debts, that rate will rise. As the rate rises, the cost will increase, which will be passed to the consumer, further accelerating the process until the whole credit industry is shattered, which is just fine by the AFN.

Time Magazine

Japan gives up the ghost
Japan has officially joined the ranks of nations that have fallen into a recession. Japan’s GDP fell .1% in the third quarter of this year. One of the major reasons? No more exports to America. As Americans convert from being the consumer of the world, the rest of the world markets, while they held up Americans as being the excess of the world, are learning just how important that American commercialism was to the foundations their own economies were built upon; Build cheap using workers you don’t have to pay or give benefits to, then ship your products to a country, such as the U.S. that DOES pay its workers, pays them enough to buy your cheap goods.
Now that Japan has joined the ranks, expect most of the Pacific-Asian region to suffer the same fate.

Reuters

And now, a word from our sponsor- the AFR
American Freedomist Radio is announcing the unveiling of its new blog home, afr50.com, on December 1st, 2008. That’s right folks, our Christmas present is a new blogsite for our AFradio shows, including Newscope, Midnight in America, and the 57th state.

These blogs will feature the latest shows, the archived shows, transcripts, notes, AND you will be able to create your own blogs, free of charge (available on a first-come, first-serve basis).

If you go to our current home, blog.freedomist,info, you can get more information on this project, as well as sneak peaks at the work in progress.

AFN

Now we finish Newscope with a look at our political reality,

Political News

Alaska still too close to call

The count continues, with Democrat challeneger Mark Beglich now over 1,000 votes ahead of Republican incumbent, and convicted felon, Ted Stevens, for the Senate seat of Alaska. The troubling point of this recount is that the Stevens strongholds have already been counted. Despite this lead, both sides concede a December recount will be conducted.

Most experts, while still acknowledging that the race is not over, believe that, after the recount efforts of Friday in Stevens’ areas, it seems apparent that the Dems will win another seat.

59 seats is what the Dems will most likely have. However, a run-off election in Georgia may decide whether the Dems get their 60 filibuster-proof votes in the Senate.

Another Clinton Croney to the Rescue

Gregory Craig was one of Bill Clinton’s lawyers during the impeachment process. He is now the white house counsel to Barack Obama. More than ¾ of Obama’s team, so far, are members of the Clinton team from the 90s. That’s a lot of change…wait….it’s more of the same. Craig was one of the early Clinton members to join in supporting Obama. Aftger Ted Kennedy’s endorsement opened the floodgates to Obama, the sycophant, Craig, followed. His boss, Ted, had spoken, and he followed suit.

Now that paradigm of original thought, the man who actually defended Clinton’s sleazy ways, is the new White House Council. Welcome the new boss…..same as the old boss.

Pawletny’s Rino call
Minnesota Governor, on Fox News Sunday, called in the Republican party to adapt to the changing nation. According to Pawlenty, “We have to be a conservative party. But we have to apply those principles in the context of a changing country.”
Pawlenty may be positioning himself for a 2012 run, trying to stake an early claim to the ‘moderate’ moniker. However, the mood amongst rank and file GOP, those still left, is decidedly different than that

Thank you for listening to Newscope. Please join us tomorrow at 11am for the latest news delivered in the only we know how, with extreme irreverence and skepticism.
This has been Paul Collier, the state uno playing champion 3 years in a row (it would have been four but I lost to Obamarx- he was holding secret clone cards but I couldn’t prove it).
Good day from the AFN and the staff at newscope. Bill Collier is next with the 57th State. Let’s give it up for Bill MMA-style….
Billlllllllllllllllllllllllllllllllllll Colliiiiiiiiiiiiiiiiiiiiiiiiiier
Play 57th state theme

For the 57th state…….the cult of Obama revealed- the Oprah factor
Start at 30 seconds

The Oprah sell out. Great montage video
This presentation may be used in whole or part if you credit Paul Collier and the American Freedomist Network (http://blog.freedomist.info)

Posted in Freedom News | Print | 2 Comments »

Hurray! It’s the Weekend of Capitalism!

15. November 2008 by admin.

Hurray! The Weekend of Capitalism!

Say what you will, call him names! A lame duck, yes mistakes have been made, the rules of laissez-faire capitalism were violated, but right now it is he who stands between prosperity through free market principles, and the forces of Statism, who wish to reduce the financial sector to a tragic shadow of its former self, a mere government utility!

While experts in the US are still trying to figure out what happened, some Europeans already knew before the event: it’s capitalism, stupid! Isn’t the cause of crime, the law? Now is the time for the coup of state, let the ax fall on the evil system!

- Caption: “Sunriser II”, by Bobbie Carlyle -

 

Here are two opinions: one by the most underestimated US President in history, George W. Bush - and an article by Objectivists Yaron Brook and Don Watkins on the Op-Ed page of the Ayn Rand Center for Individual Rights: a urgent plea for the separation of Economy and State. Europeans are urged to take note of a field virtually unknown to them. But first, the news:

CNN: “Bush ready to defend free-market principles during summit”

(…) President Bush signaled that he’s ready to defend Western-style capitalism and free-market principles during what will be one of his last appearances on the world stage. (…) As leaders of the world’s 20 largest economies, dubbed the G-20, gather in Washington, some European leaders are pushing for global financial regulation. (…) >>>

Wall Street Journal: “The Surest Path Back to Prosperity - ‘If you seek economic growth, social justice and human dignity, the free-market system is the way to go’,” by George W. Bush

As we have seen in recent months, financial turmoil anywhere in the world affects economies everywhere in the world. And so this weekend I’m going to host a Summit on Financial Markets and the World Economy with leaders from developed and developing nations that account for nearly 90% of the world economy. The leaders attending this weekend’s meeting agree on a clear purpose — to address the current crisis, and to lay the foundation for reforms that will help prevent a similar crisis in the future. (…) the actions taken by the U.S. and other nations are having an impact. Credit markets are beginning to thaw. Businesses are gaining access to essential short-term financing. A measure of stability is returning to financial systems.

- Caption: “Refuge” by Perrin Sparks -
(…) we must recognize that government intervention is not a cure-all. For example, some blame the crisis on insufficient regulation of the American mortgage market. But many European countries had much more extensive regulations, and still experienced problems almost identical to our own. History has shown that the greater threat to economic prosperity is not too little government involvement in the market, it is too much government involvement in the market.

We saw this in the case of Fannie Mae and Freddie Mac. Because these firms were chartered by the U.S. Congress, many believed they were backed by the full faith and credit of the U. S. government. Investors put huge amounts of money into Fannie and Freddie, which they used to build up irresponsibly large portfolios of mortgage-backed securities. When the housing market declined, these securities, of course, plummeted in value. It took a taxpayer-funded rescue to keep Fannie and Freddie from collapsing in a way that would have devastated the global financial system.

- Caption: “We the Living”, by Nick Gaetano -

There is a clear lesson: Our aim should not be more government — it should be smarter government. All this leads to the most important principle that should guide our work: While reforms in the financial sector are essential, the long-term solution to today’s problems is sustained economic growth. And the surest path to that growth is free markets and free people.

In the wake of the financial crisis, voices from the left and right equate the free-enterprise system with greed and exploitation and failure. It’s true this crisis included failures — by lenders and borrowers and financial firms, and by governments and independent regulators. But the crisis was not a failure of the free-market system. And the answer is not to try to reinvent that system. It is to fix the problems, make reforms, and move forward with the free-market principles that have delivered prosperity and hope to people all across the globe. (…)

Nations that pursued other models have experienced devastating results. Soviet communism starved millions, bankrupted an empire, and collapsed as decisively as the Berlin Wall. Cuba, once known for its vast fields of cane, is now forced to ration sugar. While Iran sits atop giant oil reserves, its people cannot put enough gasoline in their cars.

The record is unmistakable: If you seek economic growth, social justice and human dignity, the free-market system is the way to go. It would be a terrible mistake to allow a few months of crisis to undermine 60 years of success. (…) >>>

Give Bush a buzz z

- Caption: “The Anchorage” by Bryan Larsen -

Ayn Rand Center for Individual Rights: “Stop Blaming Capitalism for Government Failures”, by Yaron Brook and Don Watkins

Speaking of the financial crisis, French president Nicolas Sarkozy recently said, “Laissez-faire is finished. The all-powerful market that always knows best is finished.” Sarkozy was echoing the views of many, including president-elect Obama, who assume that the financial crisis was caused by free markets–by “unbridled greed” unleashed by decades of deregulation and a “hands off” approach to the economy. And given this premise, the solution, they say, is obvious. To solve this crisis and prevent another one, we need a heavy dose of Uncle Sam’s elixir: government intervention. (…)

But while capitalism may be a convenient scapegoat, it did not cause any of these problems. Indeed, whatever one wishes to call the unruly mixture of freedom and government controls that made up our economic and political system during the last three decades, one cannot call it capitalism. (…) Take a step back.

- Caption: “Lunch Break” by Quent Cordair -

In the lead up to the “Reagan Revolution,” the explosive growth of government during the ’60s and ’70s had left the American economy in disarray. A crushing tax burden, runaway inflation, brutal unemployment, and economic stagnation had Americans looking for an alternative. That’s what Reagan offered, denouncing big government and promising a new “morning in America.” (…) Bush Jr., often laughably called a champion of free markets, presided over massive new governmental controls like Sarbanes-Oxley and massive new welfare programs like the prescription drug benefit.

None of this is consistent with capitalism. (…) The government’s job under capitalism is single but crucial: to protect individual rights from violation by force or fraud. America came closest to this system in the latter half of the nineteenth century. The result was an unprecedented explosion of wealth creation and consequent rise in the standard of living. Even now, when the fading remnants of capitalism are badly crippled by endless controls, we see that the freest countries–those which retain the most capitalist elements–have the highest standard of living.

Why then should capitalism take the blame today–when capitalism doesn’t even exist? (…) Consider the current crisis (…) the driving force is clearly government intervention: the Fed keeping interest rates below the rate of inflation, thus encouraging people to borrow and providing the impetus for a housing bubble; the Community Reinvestment Act, which forces banks to lend money to low-income and poor-credit households; the creation of Fannie Mae and Freddie Mac with government-guaranteed debt leading to artificially low mortgage rates and the illusion that the financial instruments created by bundling them are low risk; government-licensed rating agencies, which gave AAA ratings to mortgage-backed securities, creating a false sense of confidence; deposit insurance and the “too big to fail” doctrine, whose bailout promises have created huge distortions in incentives and risk-taking throughout the financial system; and so on. In the face of this long list, who can say with a straight face that the housing and financial markets were frontiers of “cowboy capitalism”? (…)

- Caption: “Cityscape Texture Study II”, by Bryan Larsen -

This is just the latest example of a pattern that has been going on since the rise of capitalism: capitalism is blamed for the ills of government intervention–and then even more government intervention is proposed as the cure. The Great Depression? Despite massive evidence that the Federal Reserve’s and other government policies were responsible for the crash and the inability of the economy to recover, it was laissez-faire that was blamed. Consequently, in the aftermath, the government’s power over the economy was not curtailed but dramatically expanded. Or what about the energy crisis of the 1970s? (…)It’s time to stop blaming capitalism for the sins of government intervention, and give true laissez-faire a chance. Now that would be a change we could believe in. >>>

Wall Street Journal have a touching short documentary on the Great Depression up on their video archive …

Art in this post by the Quent Cordair Fine Art Gallery for Romantic Realism

- Filed in “The Ethics of Capitalism” and “The Economics and Monetary Dossier” -

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