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  • We Simply Do Not Have a Financial System [View article]
    ?? Politely, what the heck ??

    In a free market based on private property, private contract, private savings, there is no "financial system" as such. It's easy to baffle the public and conflate markets with intervention (liberty and fascism), using muzzy terms like "financial system" to imply it's all one big intertwined Political Economy that needs alternating doses of poison and free lunch.

    Once in a while I'd like to hear a notable economist say that GSEs were lunatic bipartisan folly, that central banking makes as much sense as Soviet central planning, and unfunded entitlements have to be wound up and written off -- all of them, including private pension and health care funds that are hopelessly broke (auto workers, teachers, cops, airline pilots, etc).
    Nov 02 08:46 am |Rating: +1 -1
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