Glenn Beck is incapable of defending free markets

[Joe3113]

http://www.youtube.com/watch?v=5GzUXrQXRN0

[matt0611]

Wow, Beck is such a fool. I can't believe I actually used to like Beck 6-7 years ago too.

[libertyfanatic]

This should come as no surprise.

[NewRightLibertarian]

this was actually pulled from an anti-fed segment of his that was very well done

[Athan]

He's a nitwit.

[iamse7en]

I think it was trying to make the point that Peter Schiff always makes... when you have the artificial boom, you must have the bust. You can't stop it. It's a natural consequence.

[No Free Beer]

I'm not a Glenn Beck fan, but this was a clear hit-piece.

[Elwar]

Buck Feck.

[Travlyr]

Rich Idiot. A total sell-out.

[ShaneEnochs]

Wait, wait. Are you guys saying that in a free market economy, booms don't happen? Because that's retarded. Fads cause booms just as much as anything else. The boom may not be as large or dangerous, but there is still a boom.

[thequietkid10]

Panic of 1857

http://www.u-s-history.com/pages/h159.html


Panic of 1893

http://www.u-s-history.com/pages/h792.html

[dannno]

Wait, wait. Are you guys saying that in a free market economy, booms don't happen? Because that's retarded. Fads cause booms just as much as anything else. The boom may not be as large or dangerous, but there is still a boom.

In a free market those types of booms would be referred to as mal-investment, which is how Ron Paul currently refers to our past economic booms.

However both the boom and the mal-investment, whichever term you decide to use, are perpetuated and encouraged by a loose monetary policy and regulations which direct public and private investments into particular economic sectors.

[twisted]

that's right, true capitalism would sink nearly everyone, the way that they "think" and act today, and GOOD RIDDANCE.

[dannno]

In a free market those types of booms would be referred to as mal-investment, which is how Ron Paul currently refers to our past economic booms.

However both the boom and the mal-investment, whichever term you decide to use, are perpetuated and encouraged by a loose monetary policy and regulations which direct public and private investments into particular economic sectors.

For example, if a bunch of people bought houses in an area and the housing prices went up and then a tornado hit, or a resource that they thought was rich in the area turned out to not be as rich as they thought, it would simply be referred to as a bad investment.

Some physical thing has to cause the environment to dissipate.

In the case of booms and busts in a keynesian economy, the simple fact that the government perpetuated these things comes to a head when debt they created cannot be serviced.

In the free market, if the debt can't be serviced then it was a bad investment.

[Joe3113]

Wait, wait. Are you guys saying that in a free market economy, booms don't happen? Because that's retarded. Fads cause booms just as much as anything else. The boom may not be as large or dangerous, but there is still a boom.

Yeah. Like when there is a locust plague, there is a boom in locust-fighting products.

Hardly an economy-wide boom-bust.

Glenn Beck is saying "the current crisis is completely natural". That is horrendously wrong.

[Victor Grey]

Glenn Beck is incapable. of defending the free market.