patrick.net

sbh says

which forced the mine to kill the children in an inefficient manner thereby raising costs to consumers

you joke, but this is literally what these asshats post here repeatedly

Obama Policy Seeks To Reduce Working Hours and Decrease Business Profitability

sbh says

Reality says

Would you send your kids to jobs like that if you had better choice?

If their only choice is to die in the mines it's the government's fault, surely. Either the government over taxed the mine owners or the government forced the mine owners to pay something at all or the government refused to let the mine owners kill the kids and sell them as fertilizer or the government refused to let the mine owners charge the kids for the privilege of working in the first place. It just doesn't matter: the government is to blame.

Are you talking about ancient Greece or pre-Civil War American South, both of which had de jure slavery enforced by the government? Otherwise, are you so dumb as to think the government outlawed child labor before it was already on its way out? Where do you think the votes came from if child labor were still common practice? The legislations banning child labor only became politically possible when free market improvement of the human condition had reached a level where child participation in labor force was already becoming unnecessary for the family and the vast majority of employers.

sbh says

One can literally only resort to humor to innoculate against such lunacy, otherwise we, the sane ones, ultimately have to join the lunatics. No one enjoys being taxed, even fascists, I presume, if in fact I knew any.

Really?? So you are saying those who advocate raising taxes are just sociopaths incapable of feeling other people's pain?

But the bizarro world of anarcho-capitalism is just too perverse in its victimhood theories: without OSHA kids wouldn't die in mines. It's remarkable, really.

The stupidity is remarkable. What do you think OSHA is? Some kind of omnipotent god-like figure that checks in each mine shaft every fraction of a second? Do you really think kids died in mines in droves after 1938 Fair Labor Act banning child labor but before 1971 establishment of OSHA? Really? Can you big government worshipers even read a calendar?

Reality says

Austrians were very critical of Greenspan even when the mainstream media was praising the "Maestro." In fact, Austrians were among the earliest critics of Greenspan policies.

and of Reagan too

indigenous says

I think the article was ok, but did not give a reason for Greenspan's change to the dark side.

I think the real reason was that since 1997 he has been thinking with the little head.

It was fame & power.

If you are given control of a nation's money supply it is too much perhaps for a mortal to avoid using all of the power granted to you.

Greenspan was an interventionists almost from day one:

During Greenspan’s tenure as Fed Chair he confounded us with an inimitable and often indecipherable verbal style. From softening the effects of the 1987 stock market crash (the Fed “stands ready to serve as a source of liquidity to support the economic and financial system”), to his attempt to jaw bone some of the “irrational exuberance” out of the nascent Nasdaq .com bubble in late 1996, to the arrangement of a bailout of Long Term Capital Management in 1998, to the pouring of liquidity into the market and lowering of interest rates in 2001 post 9/11, Greenspan’s Fed tenure had a decidedly interventionist streak that was antithetical to his pro free market/anti statist views of two decades earlier. Indeed, Mr. Greenspan’s Fed used an interventionist monetary policy so often to prop up the markets that such actions were called the “Greenspan put”.

http://smaulgld.com/negative-interest-rates-and-janet-yellen/

smaulgld says

It was fame & power.

Maybe, but I think my take is more accurate. His wife is quite doable, she hales from NBC which makes her mutually exclusive to Austrian economics, this would put poor Alan at her mercy...

spydah_hh says

The hype and herd mentality that is created by cheap money from the FED, yes

Not all bubbles however are created by the Fed.

The stock market bubbles are a direct result of Fed policy as was the housing bubble in the 2000's and the housing price bubble of the past two years.

The Fed admits that their policies are designed to raise asset values in stock and real estate markets to create a wealth effect-they just don't call rising stock and real estate prices, bubbles when the underlying fundamentals don't support the valuations, they call it a success.

bgamall4 says

Remember what that Republican guy from Alabama said? He said the regulators exist to serve the banks.

Bank regulation unfortunately exists to keep the big banks entrenched Look at the many fines that have been levied against citibank, jp morgan etal in the billions of dollars in the past few years. Only the big banks can pay those types of fines, smaller banks can't afford the compliance and legal fees and fines.

Holder even admitted they really can't regulate the banks because of the impact that bringing down one of those banks would have on the economy- a startling admission that the banks control the country

bgamall4 says

Our nation is not powerful enough to stop the Fed or decide. Look at when Tim Geithner was forced on the treasury as a Fed Mole. The guy actually gave money to banks everywhere to cover AIG's mistakes, and he did so at the behest of the Fed.

True and Geither actually did some document cover up for AIG-straight up criminal act and nothing happened.

http://www.businessinsider.com/the-25-billion-dollar-secret-the-ny-fed-goldman-and-the-aig-cover-up-2009-11

and then there was the issue of his personal taxes and failing to report portions of his income for two years and he still became treasury secretary http://blogs.wsj.com/washwire/2009/01/21/turbotax-responds-to-treasury-nominees-disclosure/

indigenous says

Maybe, but I think my take is more accurate. His wife is quite doable, she hales from NBC which makes her mutually exclusive to Austrian economics, this would put poor Alan at her mercy...

fame power and women- all human weaknesses

Its part bad monetary policy and part fraud working together

smaulgld says

spydah_hh says

The hype and herd mentality that is created by cheap money from the FED, yes

Not all bubbles however are created by the Fed.

The stock market bubbles are a direct result of Fed policy as was the housing bubble in the 2000's and the housing price bubble of the past two years.

The Fed admits that their policies are designed to raise asset values in stock and real estate markets to create a wealth effect-they just don't call rising stock and real estate prices, bubbles when the underlying fundamentals don't support the valuations, they call it a success.

No, all bubbles were created by the FED. Now if you're speaking of recessions then I'd agree not all recessions are created by the FED.

A recession can be caused by a bubble which effects the entire economy in all sectors now a recession that's not created by a bubble normally does not effect the entirety of the economy.