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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (144927)	8/22/2014 10:12:01 AM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

Definition of 'Centrally Planned Economy': An economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses. Unlike a market economy in which production decisions are made by private citizens and business owners, a centrally planned economy seeks to control what is produced and how resources are distributed and used. The production of goods and services is undertaken by state-owned enterprises. Exactly. The Federal Reserve sets interest rates, which are used by all businesses to price risk in this country. Since they are now employing ZIRP, which sets the interest rate far below market pricing, they have distorted all contracts, which means that businesses think deals are profitable, when based on market discounting, they are not. When the Fed raises rates, that will expose these unprofitable deals for what they are. As Buffet says, when the tide goes out, we find out who was swimming naked. What the Fed is doing is the very definition of central planning. They are setting prices, rather than letting the markets set prices based on supply and demand. Then let's talk about Obamacare. The US healthcare industry is also the very definition of central planning, with centrally set prices and government exchanges managing everything. Then there is Social Security, which is the largest centrally planned Socialist program in the world. Increasingly, the US has become one giant Socialist enterprise, which has decreased our economic growth to minuscule levels, enriched the 1% who have cronies in government, while destroying the vitality and wealth of our once vibrant middle class. Now with our spy apparatus and our Dictator President who breaks whatever laws he feels like breaking, we have become no better than the former United Soviet Socialist Republic. What a fucking disgrace.