[ExI] Is unemployment the future?
pharos at gmail.com
Sun Nov 8 12:15:27 UTC 2009
On 11/8/09, JOSHUA JOB wrote:
> But yeah, politically Objectivism is all about a laissez-faire market
> economy. So anything the Fed does, "right" or "wrong", is undesirable
> (though, in my opinion, doing something which damages the market more than
> anything else you could possibly have done, is way way more undesirable than
> any other course of action, haha).
The Fed was the facilitator, but your mythical 'free-market' was
damaged far more by the opportunist crooks that jumped in and traded
garbage all round the world, snagging millions in commissions and
bonuses until the house of cards collapsed.
So laissez-faire was a great deal for financial crooks. The rest of
the US lost their jobs and houses.
Great deal if you work in the finance industry.
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