Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who wrote (7629)	8/24/2001 3:40:57 AM
From: que seria	Read Replies (1) of 74559

Very open-minded of a site called "Prudent Bear" to find a place for such an anti-capitalist screed. So much so wrong, where do you start? the long-running trend of governments to increase the fortunes of the already-affluent via tax cuts, deregulation, union-busting, etc. Could have fooled me on that trend. Only a true-believer socialist imagines that gov't increases someone's wealth by seizing less of his money in taxes. he (correctly) sees these pro-rich policies as provinding the underpinning for the historic bull-run. So why leave "the rich" with any income at all? Isn't that "pro-rich?" Let them eat capital! But Kudlow is worried; the "pro-rich Keynesianism" he advocates, a.k.a. the trickle-down theory is still now being implemented, but the market is tanking. Once again, failed gov't interference with markets will be used to prove the need for more gov't interference. That ever-widening cycle is the real "long-running trend." The inequality of wealth is still increasing, due in part to the continuing adoption of supply-side policies Yup. If gov't taxes less and people produce more as a result, incomes will rise (never by the same proportion), so inequality will increase. Socialism, thy name is Envy. . . . yet the market is tanking. Hence, now he argues for expansionary monetary policy as a further prop for the bull-market. Hayek well explained Why I am not a Conservative. Too often conservatives have given socialists their talking points against capitalism. Schizophrenic monetary policy (and indeed, fiat itself) is just another straw man for attacks upon a free market. The article is worthwhile as a reminder that we now living in the U.S. will likely never have anything closer to a free market than what we have now.

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