Ben Bernanke is a socialist. Listen to his response to Jaime Dimon after Ben's speech. BB mourns the fact that we do not have the comprehensive tools to be able to predict what all the regulations the government is setting up will do to our economy. "It is just too complicated," he says. But then he goes ahead with all the other things the Feds are going to do.
This sounds like F Hayek. He states that there is NO WAY anyone can decide ahead of time what will work for the whole economy. "It is simply too complicated." There are an infinite number of decisions that must be made daily and no one, except God, can make all those decisions for the best of everyone involved. That is why the free market system works so well. All these decisions are made on the ground by the individual in each interaction that is made. The fact that Ben Bernanke thinks he or any group of ideologues can make those decisions from the top shows he is a socialist. That is the foundation of socialism: "We (the experts) will make the decisions and set the regulations that will benefit everyone else. We know what is best for everyone else."
What a joke! Talk about a big ego! Talk about having a Messianic complex. How could anyone ever think they could dictate from the top what is the best for everyone else? That is insanity for any human to claim for him/her self. Those decisions can only be made by the individuals on the ground as they face each situation. To try to set these decisions from the top is idealistic at its best and demonic at it worst. It was exactly this philosophy that brought Hitler and Mussolini and Stalin into power. This is the philosophy of those who are power hungry. They may not use guns, at least at first, to get people to fall into step, but eventually they will use force, the force of law which has the force of the gun behind it. "Either you agree and conform or you will be punished." It does not really matter if the punishment is fines or imprisonment or death. If you refuse to submit to the punishment you will be destroyed. And that is exactly what our government is doing now.
This is exactly what our country's founders were trying to avoid. They believed that the only reason for government was protection from other governments. Otherwise, the government was to stay out of the way. And the reason this worked so much better and outlasted the USSR and other socialist states is because the decisions were not made top down, but made on the ground where individuals were directly involved in each situation. The REAL experts are those simple folk on the ground who make life-changing decisions everyday and do it with all the information that the supposed experts simply cannot compute because it is way to complicated. There is no way anyone can compute all the different facets of a decision for everyone else; it is simply too complicated. The leaders of the USSR learned that, but BB and his followers including Alan Greenspan don't seem to realize it yet. And that is exactly why some founding fathers did not want a national bank. BB states that it is too complicated, that we do not have the systems to compute this very question. F Hayek stated that there is never going to be a way to compute this from the top. It must be done on the ground, each and every day.
So what do we do? One thing we need to do is get those stupid "experts" like BB and Frank and Obama out of our government. We need to shrink our government and get it out of the way for the free market. This is the reason our country has been so prosperous up until the last century. FDR and Woodrow Wilson are just a couple of examples of where our country started heading south. They believed that government could solve our problems. And that philosophy has grown ever since and Obama is the epitome of such foolish, insane thinking, ideology. The Tea Party movement is on the right track. That movement needs to keep up the pressure.
Why do we think our country prospered so much in its first two centuries? It certainly wasn't because it had an unusual amount of natural resources. It was not because it had such wise leaders through that whole time span. The USSR had natural resources that rivaled or even surpassed what the USA had. The Middle East has resources that rival what the USA has. The only reason the USA prospered so greatly was because the government stayed out of the way of the individual people as each person made decisions as to how to manage work and life. So we have ended with technology that the rest of the world envies. And it was because the individual was free to express his/her ideas and plans as long as those plans did no harm his/her neighbor.
So, get the government out of the way! Shrink it until it no longer can dominate the market and the freedoms of the individual.
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