[deMolay]

Pretty much sums things up, http://dailyreckoning.com/die-hard-illusions/

[nobodypanic]

i can't think of a bigger illusion than that of the so-called 'free' market.

capitalism can simply go to hell as far as i am concerned. and it is.

[Sixstrings]

$this->bbcode_second_pass_quote('', 'I')n the month of May, Japan’s exports declined 40% year on year.

Yesterday came similar news from Europe. Industrial orders in the Eurozone dropped 35% in April, from the year before.

“Fed on hold as slump eases,” reports The Wall Street Journal. What exactly is meant by ‘slump eases’ is unclear. As near as we can tell, the slump is getting worse.

[TreeFarmer]

"Many times have we argued that they will fail. We laugh at building dog walks …bailing out businesses that have lost their way…and paying huge bonuses to Wall Street execs. But those are just the obvious flaws. Down deeper, in the dark, corroded heart of the government economist is a fatal conceit.

We know from the experience of the 20th century that Friedrich Hayek was right. He called it the “Fatal Conceit”: the idea that central planners working for the government are free from sin and error. He wrote early in the century…when National Socialism and Communism were still popular.

Now we know; central economic planning doesn’t work. Everywhere it was tried it was a disaster. The more the bureaucrats planned, the bigger the mess they made. But now we are supposed to believe that central financial planning will save the world from the mistakes of the bubble era. That is the grand illusion waiting to be toppled. What fun it will be to see it come down!"

Fatal Conceit is right! From pressuring banks to make loans to people who could never afford to pay them back to creating trillions out of thin air to replace other trillions that vanished into thin air there seems to be no end to the madness.

I'm reminded of a line from Babylon Five, when Kosh was asked how it would all end, the replied "in fire".

TF

[Daniel_Plainview]

$this->bbcode_second_pass_quote('', '[')b]In a nutshell, the meddlers believe they can borrow their way out of debt. If you say that the key problem in America is debt, they won’t argue with you. But they think that they can overcome that problem by borrowing trillions more.

[TreeFarmer]

The meddlers and government believers still think that they are slick enough to get something for nothing.

That is why a lot of people vote for the big government politician, they expect soemthing to be given to them at no cost.

TF

[pablonite]

$this->bbcode_second_pass_quote('TreeFarmer', 'B')ut now we are supposed to believe that central financial planning will save the world from the mistakes of the bubble era. That is the grand illusion waiting to be toppled. What fun it will be to see it come down!"

[eXpat]

$this->bbcode_second_pass_quote('Sixstrings', '')$this->bbcode_second_pass_quote('', 'I')n the month of May, Japan’s exports declined 40% year on year.
Yesterday came similar news from Europe. Industrial orders in the Eurozone dropped 35% in April, from the year before.“Fed on hold as slump eases,” reports The Wall Street Journal. What exactly is meant by ‘slump eases’ is unclear. As near as we can tell, the slump is getting worse.