To: TobagoJack who wrote (15760 ) 3/22/2007 2:29:35 PM From: foundation Read Replies (1) | Respond to of 217574 the parasites get busy -- trotsky, 10:46:37 03/22/07 Thuvoy.com Congress now wants to 'enact new laws to increase the federal government's oversight over mortgage lending'. in short, the negative result of previous government interference in the market (GSEs, Fed lowering rates to absurdly low levels), now are deemed to demand an ad hoc response consisting of even more interference (quite typical, actually). one of the avowed goals is to protect people from their folly (the folly of borrowing more than they could afford, in this case). by this method one soon has a nation full of fools. nobody is interested in letting the market work - they all think THEY know better. it is one of the measures of how deeply down the path toward socialism Western allegedly 'capitalist' democracies are. one of the trade-offs one has to accept if one wants liberty is personal responsibility. a willingness to LET the market work, to allow it to punish foolish decisions. this is how the market ensures that capital will be redirected to its most efficient uses. the moment one abandons the concept of personal responsibility, one also abandons liberty. in the process one ensures that overall wealth diminishes, or grows slower than it otherwise would, as misdirection of capital continues to be furthered. one keeps hearing that 'no-one wants a recession' or 'no-one wants bankruptcies'. if one points out that this makes no economic sense, one is accused of heartlessness. leading people into the slavery of State-dependency is apparently seen as a sign of one's good-heartedness, by contrast. meanwhile , the imbalances, malinvestments and debts continue to get piled higher and higher. comes the day of reckoning (as has now happened in the sub-prime mortgage lending industry), demands for even more government intervention are immediately raised.this is what Friedrich Hayek has called 'the road to serfdom'. the bureaucracy has a 'plan' for you - you're not supposed to have too many plans of your own. others must do the thinking (such as it is) for you. this is also why there can be a war that according to polls practically nobody wants. misery, war, poverty and enslavement are always the end points of this bureaucratic utopia.