Monday, 26 September 2011

Debt Crisis? Presidential candidates? WWARD?

Everyone worldwide with more than $100 in their bank is talking about the  multi-trillion Euro plan to bail out debt-ridden European banks and governments; a plan that has already failed before it has begun – a plan that asks taxpayers to take the hit for stupid loans made by stupid banks.

And everyone with any interest at all in what goes on in the world wants to know are there any US presidential candidates worth a damn?

Since every candidate for the coming presidential election so far is so poor, and since every answer the mainstream alleged experts come up with to solve the debt crisis is always reliably worse than the last, some on The Street are asking What Would Ayn Rand Do?  How would Ayn Rand would approach deficits, the debt crisis, selecting presidential candidates?  Here to answer the question on  The Street is Yaron Brook, head of the Ayn Rand Institute:

1 comment:

  1. I watched him on Stossel this weekend. There was some "progressive" he was debating, who was attempting to defend all the usual Keynesian Catalysts. (Why DO they call them progressives when they just want to take us back to the dark ages?)

    Brook shot down the poor SOB on every issue with Economic literacy. The poor guy looked like he was about to cry at any stage that his altruistic intentions didn't make good math - ever.

    Here was one of the myth-busters:

    “It’s ridiculous to assume that you can tax the people that are actually working, and give the money to people who are not working, and somehow this creates economic activity. You’re destroying as much by taking from those that are productive, that are working, that are creating much more your destroying anything…”

    and another...

    “The other Keynesian fallacy is that the economy is not driven by consumers. The economy is driven by production, by creating stuff, by building stuff. When businesses invest, they buy stuff, they consume – that’s what really powers an economy. If we can get businesses confident in the future, in the future of the US economy, they will start investing. And the only way to do that is to get government off their backs.”

    Then he shot down the broken-window fallacy... then the idiot was "left" claiming that "Individuals don't create wealth... society creates wealth..."

    Unfortunately Stossel had to run to break, but I would love to have heard his final idea ploughed.



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