Thursday, September 13, 2018

How to Destroy the Banking System

Regulate regulate regulate, tax, instantiate statuary tax funded  bailouts and all of the latter was in place loing before the last financial crash. The idea that it was in any way shape or form caused by the banking and financial institutions is a statist canard that has it's origins in the 29' crash which was also caused by the same factors but has been whitewashed away with statist folklore written by left wing economists with their establishment statis quo agendas which canard is till being peddled today.

One of the arch purveyors of this statist ex post facto rationalisation is the Scottish basilisk himself Gordon Bennet Brown who is up on his hind legs again giving one of his counter factual crackerbarrel narratives with the subtext about how he save the world last time but the whole thing could happen again because we have not learned the lessons from last time (true -but not in the way he means) and we have relaxed the regulations (o yeah), nations are not talking unto nation, we risk being 'fragmented' with rival contradictory regulatory systems, some countries even having the temerity to dilute some of the oppressive anti capitalist statist incursions such as the notorious socialist  abomination known as Dodds Frank which Trump to his credit is attempting to dilute if not ideally abolish.

So the whole thing was caused and created by statism and when the shit hit the fan who was ready to rush in with statist solutions to the very problem and disaster it had created? Like fiends in the night with bricks they had smashed every window in the polity and in the morning they donned their window repair uniforms and made out like gangbusters.

The game had been won yet again. They practically took over the banks,nationaliszed them and  -yes you got it, instituted yet more statist regulation which will only lead to one thing as night does day -another crash. False diagnosis, false solution. It's the politician and statists bread and butter and it never fails.

The taxpayer as per usual footed the bill, corporate welfare was instatntiated, what was left of the free market was eviscerated and the knights in shining armor were the politicians who burnished their credentials for this act of state looting and larceny and went off into the sunset with their halos shining, reputations assured and their portfolio of business directorships and emoluments on the lecture circuit bulging.

Mr Brown informs us in stentorian tones that not enough bankers went to jail. How about the real culprits doing some time -the politicinas who created the whole mess and set the whole thing in motion. The heist of the century and the culprits doing yet another lap of virtue signalling. Doesn't it just make you want to vomit?

No comments: