These days, our corrupt political parties are virtually indistinguishable. Neither give a damn about individual rights, both will gladly march us into the bowels of statism. Both of which project either a complete ignorance, or smug disdain for the just nature of economics. In a move which will result in nothing but economic destruction (in the name of the public good), our current administration announced it’s intention to further sink it’s meddling fangs into our economy.

The Fed would become the government’s “market stability regulator,” given sweeping powers to gather information on a wide range of institutions so that Fed Chairman Ben Bernanke and his colleagues could better detect where threats to the system might be hiding.

They, in fact, are the only threat to the system. A market left free of meddling will respond and eliminate any threats, as long as they aren’t delivered at gunpoint, in which case Government is supposed to the one responding to the threat, not the one holding the gun.

“It will have broad powers and the necessary corrective authorities to deal with deficiencies”

Well, well… wonder what they mean? Surely they aren’t implying that they’d trample the rights of a business owner by forcing him to comply with their vision of how he should do business? Not here, not in America? The deficiencies they speak of only exist in any relevancy as a result of intervention in the market. Removing the safety net introduced via government bailouts would force those who didn’t want to lose money to invest or lend it wisely. Instead, we have beaurocrats with very little to lose enforcing their will on the market, then blaming the results on the market in order to justify more meddling.

Regulation, like always is the culprit. All problems, true problems, one’s which cause destruction that impacts our country negatively in terms of years, decades and centuries; where rights are trampled, and wealth is destroyed, are caused by illegitimate government action.

This entry was posted on Wednesday, April 2nd, 2008 at 3:54 pm and is filed under Gripes, Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.