There are all kinds of lies. The most famous is, “The check’s in the mail.” Whether that statement is a lie or the truth will be proved in a few days. But I’m not referring to that type of lie.
I am thinking of the BIG lie that requires a thinking, sentient being to reflect on and realize they are being mis-led.
- free markets require no adult supervision
- climate change is a hoax
- humans did not evolve from other species over millions of years
- infrastructure in the U.S. is in tip-top shape
The U.S. has a whole slew of federal agencies that debunk the first. The EPA, FDA, SEC and the FDIC (among others) have a role in protecting the consuming public from harm. Most of that ‘harm’ can be seen coming from greedy executives that are only interested in increasing corporate profits.
All the food recalls because of salmonella derive from actions to increase profits.
Automotive recalls – the companies could have avoided the enormous cost of the recall if they had not been in the big hurry to get a model to market.
So, when you hear Mayor Bloomberg or some other politician blame Congress and not the banks for the crisis we are going through, just ask yourself, who profited the most from blowing up the U.S. economy?
Here is an analysis of the problem and a suggested solution. I like this graf near the end
To fix the banking sector, should we rely more on government regulation and oversight or let the market figure it out? Tougher rules or more capitalism? Right now, we have the worst of both worlds. We have a purportedly capitalistic system with a lot of rules that are not strictly enforced, and when things go wrong, the government steps in to protect banks from the market consequences of their own worst decisions. To me, that’s not capitalism.