Markets are down today on fears of lower corporate earnings. <Sarcasm class=”thick”>Clearly the Fed needs to intervene. The goal should be to inject billions into every public company. We need real capital infusions, even outright ownership and control. Only that will end losses, and leave us with the profit-only system once called socialism. Just look how profitable all socialists countries have been, and without these horrible cyclical changes!</sarcasm>
h/t: Jeffrey Tucker, the Ludwig von Mises Institute
I’m not sure I’m 100% on-board with everything published on that blog, but many of the ideas appeal to me at a very deep level. More on such things later, mixed with the usual geekage and NASCAR wrap-ups.
-k-
It’s nice just to see someone use the term “socialist” correctly. It is grating to listen to Republicans (like Sarah Palin) refer to a progressive tax system as “socialist” yet not say one word about the nationalization of the financial market, which actually is socialist.
The difference, of course, is that Democrats want one and Republicans are actually doing the other.