The Last Capitalist

A site dedicated to restoring individualism in the United States of America

Archive for November, 2008

More Ayn Rand on Barack Obama

Posted by jemartynowski on November 28, 2008

Despite all of the bad things Barack Obama has claimed he would do (raise taxes, attempt to socialize health care, etc.) it’s becoming pretty clear that he understands how irresponsible those things are.  He may be a far left man at heart, but he clearly knows that, even though he believes in those far left ideals, they are not good for the economy.  Why, then, if he is willing to indirectly admit that his ideas are bad, are so many people still pushing for such things after the economy recovers?  My guess would be that he and other leftists think it is in the interest of fairness and altruism that we should steal from the rich and give to the poor.

Sure, it’s bad for the economy.  Sure, it’s against everything for which this country was created.  But it’s for the good of the poor people in our country.  Right?  Well, I’m not so sure.  What is better for low-skilled people?  No jobs but some limited handouts filtered through a government official with his hands in it?  Or someone becoming rich off of a good idea, business, and creating jobs for those low-skilled employees?  When the handouts happen, people don’t own their own creations and work.  They are almost slaves.  When the second happens, even the low-skilled employee owns his work.  He can leave that company when he wants.  He collects a reward for whatever it is he produced for the rich employer in the form of a paycheck.  If he feels his work is worth more, he can negotiate that. 

This is where Ayn Rand comes in this time.  She wrote the following about altruism, which is forcing everyone to live for others and not themselves:

The social system based on and consonant with the altruist morality—with the code of self-sacrifice—is socialism, in all or any of its variants: fascism, Nazism, communism. All of them treat man as a sacrificial animal to be immolated for the benefit of the group, the tribe, the society, the state. Soviet Russia is the ultimate result, the final product, the full, consistent embodiment of the altruist morality in practice; it represents the only way that that morality can ever be practiced.

The problem with the leftist, altruistic ideas that we need to sacrifice those who are successful for others means that we are nothing more than either slaves or those served by such slave labor.  We know that this is not a viable option, yet many keep on pushing it forward.  Let’s hope Obama realizes that what is good for the economy (freer markets) is good for everyone.  Then, maybe, he will shy away from his fervor to forcefully sacrifice some people’s work for others.

Posted in Barack Obama, Capitalism and Politics, laissaz-faire capitalism, Socialism and Democrats | Tagged: , , , , , | Leave a Comment »

Ayn Rand on Barack Obama’s New Socialism

Posted by jemartynowski on November 26, 2008

I figure, now that Obama and his staff our getting all excited and ready to “fix” the economy, it is a good time to go over why everything the government is doing is wrong.  No, it’s not just Obama.  The entire government, with all their bailouts, handouts, or whatever you want to call them, are falling into the Socialist trap.  We want a quick fix so the government is going to give us what we want.  Let’s let probably the most brilliant mind of all time let us know how she would feel about this:

Socialism may be established by force, as in the Union of Soviet Socialist Republics—or by vote, as in Nazi (National Socialist) Germany. The degree of socialization may be total, as in Russia—or partial, as in England. Theoretically, the differences are superficial; practically, they are only a matter of time. The basic principle, in all cases, is the same.

Instead of prosperity, socialism has brought economic paralysis and/or collapse to every country that tried it. The degree of socialization has been the degree of disaster. The consequences have varied accordingly.

 Ayn Rand from The Virtue of Selfishness

The first paragraph is especially important for us to understand right now.  Socialism of any kind, such as the government taking ownership of private property, is socialism nonetheless.  When government can take control of private property, they take control of individuals.  By allowing control of what we as individuals create, we are acknowledging that we are nothing more than slaves.

The second paragraph is stating the obvious.  I hope that this large-scale economic takeover by our government comes to a halt soon because the degree of disaster will get larger with each bailout or whatever they decide to create.  I’m not sure how much more “help” our freedom can survive.

Posted in Capitalism and Politics, Socialism and Democrats | Tagged: , , , , , , , | 1 Comment »

More Walter Williams Genius: Laissaz-Faire Capitalism

Posted by jemartynowski on November 14, 2008

Dr. Walter Williams, a brilliant mind with a talent for taking the ridiculous things we hear every day from a variety of sources and proving the garbage we hear wrong.  With so many people saying conflicting things to try to forward their own cause, it’s often difficult to understand what is really going on.  I’ve let it be known that I never really liked Alan Greenspan, cause he’s a d-bag and all, but people still actually listen to things he says.  Seriously, they do.  Even after he preached about how great adjustable rate mortgages are and was a proponent of the weak dollar (not that Bernanke is innocent in that regard).  So I think it’s important to understand why he is so wrong when he says that he overestimated the free market and seems to show sadness in its failure. 

Dr. Williams steps in here and shows a more detailed description of our so-called “free market” and why it really isn’t.  If you want to blame the current system, go ahead, but don’t call it the laissaz-faire capitalism.

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Leftists Misplacing Blame for Financial Problems

Posted by jemartynowski on November 3, 2008

This is the perfect time for someone with a voice to try to push an agenda.  Barack Obama is looking to beat John McCain by playing prevent defense in this final drive to election day.  He won’t do press conferences and avoids pretty much all questions altogether.  McCain is only able to preach to his choir, probably gaining very little momentum.  But journalists are sitting here with a full blown financial crisis and an increasingly large divide in the American population over capitalism vs. socialism.

This is just what Dr. Charles Wheelan did with his voice on yahoo’s finance page.  He makes the claim that we “free-market ideologues” have lost the battle.   The free market, he claims, is obviously fully responsible for the current financial situation and proves how wrong we were.  This is a great position for him to be in, seeing as everyone knows that we are a capitalist country and it must be capitalism to blame.  Well, I for one am very happy Dr. Wheelan has given us an opportunity to prove that you can be a total dullard and still have “Ph.D.” after your name. 

First Dr. Wheelan claims that the idea that individuals know best is wrong.  This is verified by people taking out terrible loans and making bad decisions.  Yep, they certainly did make bad decisions.  But does that mean that they shouldn’t think for themselves?  People that made these poor decisions are paying for them, and that’s part of a process I like to call “life.”  We make mistakes, we learn from them.  I’d be willing to bet that most of those people won’t make the same mistake again.  Plus, I think we’re overlooking that these people were given advice from people like Alan Greenspan and organizations like Freddie Mac, Fannie Mae, and his precious government.  There’s a reason so many people made these poor decisions:  they were given poor information.  The takeaway here is this:  People aren’t perfect.  Nobody is making that argument.  If people are left to make the best decisions for themselves, it will be better for society in the long run.  It’s the reason we have advancement.  And to argue that the companies made poor decisions:  well, there were a few mandates pushed on them from Congress that actually led to many of those poor loans.  The same Congress Dr. Wheelan wants to make our decisions for us.   Oh, and when Fannie and Freddie guaranteed these loans, supporting the poor decisions made by people, that was probably not a good advertisement for government’s decision-making ability.

Wheelan’s next argument about firms always managing resources better than government is completely flawed as well, and he even tells you he’s wrong.  The Fannie and Freddie are both the main culprits, and the push to get people who couldn’t afford houses to buy houses is EXACTLY the problem.  He is saying that blindly eliminating regulations isn’t the answer, but I’m not sure who has ever said that it is.  Bringing up the main reason for the current crisis (government intervention) is not a good argument for more government intervention.  If we wait a little while, we’d learn that these banks get destroyed from bad moves, and the same mistakes won’t be made next time.  Unfortunately, politicians can’t say “tough titties” to the American public, even if we need to be told so.  I guess it is the government’s responsibility to fix it, seeing as they broke it.  It’s just that every time they do that, they make things worse.

The next argument that Wheelan makes is annoying in that he completely misconstrues tax breaks.  Nobody ever claimed that lower taxes are a “miracle balm,” as he calls them.  Lower taxes are far more than that.  They are the base for what any free economy should be.  When he says that it helped lessen the already strong pain we’re going through, he’s missing the point.  Taxes weren’t any part of this mess.  If you want a good explanation of how we got to this problem, read the latest Forbes magazine where Steve Forbes himself gives a great rundown of it.  Just so he we’re clear, the tax situation has nothing to do with the economic situation we’re in.  All it did was increase revenue for the government and decrease the amount of money people had to pay, percentage-wise, to the government.

Again missing the point, Wheelan then says that the idea that hands-off government aided the current crisis.  No, no, and no.  The weak dollar strategy created by the fed along with what used to be called affordable housing for the poor and is now referred to as preditory lending were the two biggest catalysts.  When Freddie Mac and Fannie Mae started putting a government guarantee behind really really bad debt, everyone became takers.  Who wouldn’t invest in something government backed and think that it was risk-free?  Well, the government entities made terrible miscalculations.  Plus, nobody can pass the buck here.  Individuals and companies did make really bad decisions.  We need to let those who did feel the pain, or else it will happen again, probably worse. 

His last point is a little bit useless.  He says that mainstream economists don’t believe in the free markets.  Well, not entirely.  They believe in free markets with some regulation.  Wheelan misrepresents this as these mainstream economists as believing in heavy regulations.  Plus, who exactly is a “mainstream economist?”  Alan Greenspan?  That guy is now a proven dimwit.

OK, so maybe I went a little overboard in my execution examination of Dr. Wheelan.  I guess I’m just trying to say that you can’t dismiss something as wrong without having seen it in action.  Giving up on the free markets would be like giving up on a two year old kid.  We haven’t seen them in action yet.  What we’ve seen is an indecisive mess that tries to pretend to be free-market, but as soon as something happens that we don’t like, we throw someone under the buss (banks, CEO’s, the “rich”) and submit to the government to make our decisions for us.

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