Ron Paul on CNN, Talks Record Bank Bonuses and Regulations

Anyone who believes freemarket ideology works should consider reading THE SHOCK DOCTRINE by Naomi Klein. Unfettered freemarkets ar a disaster for the economy and the working class while being an excellent source of corruption,greed,irresponsibility and mismanagement. Deregulation has led to record profits for Corporations and record growth in CEO compensations at the expense of middle class wages and standard of living ever widening the gap between rich and poor.Freemarket expansion has contributed to the loss of record numbers of jobs in the US as more profitable markets are found overseas.Freemarket capitalism thrives under the premise that corporations will take care of the growth of the corporation by expansion and adding jobs and continuing to be profitable and credit more jobs etc. However when left to their own devices corportions will cut corners,ignore workers rights and expect more and more for less and less.Profits are used to facilitate greed and abuse of power in political arenas When profits slow workers go before anything else.If left to freeemarkets wages would be dictated by the market.social programs would all be subcontracted to private companies,you would be paying more for less.Social security would bring a 3% return for contributors and a 10% return for investment bankers as happened in Chile. Your kids would be educated by teachers employed by Haliburton or Coca cola.Roads would be built and maintained by some company in Sweden as in Illinois.Despite what anyone claims you will pay for all of this,it just depends on who want to pay and how much.Freemarket capitalism doesn't care if you can't afford to send your kid to school or go to the doctor or ever retire or whether you have worker compensation if you get hurt at work.Or whether you think you are making a decent living. When you espouse total unregulated freemarket capitalism you forego any rights you thought you may have had as a worker or as a citizen of this country.Everything for sale even your hopes and dreams. Bring corporate clone to a whole new level.

First, Paul ignores the fact these bailouts also included abandoning mark to market accounting. Of course these outfits quickly returned to profitability as soon as they were no longer required to report their losses. If there's a reason to be outraged, it's that these windfall bonuses are being paid on bogus profits. In other words, it's just one last shot at bleeding dry the gutted shells of these outfits.

Paul's views on unregulated free market libertarianism is insanity squared. There are a lot of places Paul makes sense, but his libertarian views make him unelectable. Paul objects to fiat currency, but doesn't seem to have a problem with fiat everything else. Fiat gold, fiat oil , fiat pork bellies and soybeans, fiat corporate assets, fiat profits, etc. - these are all in line with Paul's vision of a "free market". The real problem is privatization of profits and socialization of losses. If some aspect of a government operation turns profitable, it is sold off to the private sector, and subsequently gutted. After it's gutted, the government steps in to pump it up with taxpayer monies, then it's turned back over to the private sector to be regutted. If you're going to socialize the losses, you may as well socialize the profits as well. If some service or industry is too critical to the security of the country to allow to fail, then it's too critical to trust in the hands of the private sector.

Roads? The only market for roads is government, so why are they built by private companies? Fannie and Freddie? Where would they be today if they hadn't been turned over to the private sector to be bled white?

The list goes on....

Is what comes from the futility of raging against this machine.

And I wanna scream at this newsperson trying to explain everything and not just ask questions.

Makes me look forward to a the next exctinction quality asteroid.