Bailout marks Karl Marx’s comeback
September 30th, 2008 . by RobertThe first attempt at socializing the financial markets has been defeated. Public opposition is running in excess of 50:1 against the bailout. Keynesian and Friedmanian economists espouse a bailout as being the only option while Austrian school economists point to the failed monetary policies of both those schools of thought that have resulted in the very situation they claim will be fixed by more of the same. We are dangerously close to fulfilling the Utopian ramblings of Karl Marx in his desire for the centralization of credit in the banks of the state.
Jeff White posts an excellent analysis of the Marxist bailout scam that almost happened yesterday.
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