Friday, October 10, 2008

The end of American Capitalism

As the current financial crisis deepens and spreads around the globe, more and more people are beginning to feel its effects. In developed countries businesses are closing their doors (, innocent renters who have never missed a bill are being evicted from their homes because of the land owner's failures (, and more and more people are asking which presidential candidate will fix their problems for them (

At the same time, in the poorest regions of the world food riots have caused both starvation and political upheaval (, and price increases have unbalanced the trade differential between developing countries and the west ( Some financial leaders, such as World Bank president Robert Zoellick, even think this could reverse the movement of developing countries towards being successful self sustaining economies, (

Clearly, this is a time of great civil, political, and financial unrest. It is understandable that people would be afraid. It is understandable that people would feel powerless to affect their own futures. It is understandable that people would turn towards those in power for assurances, leadership, and hope.

And the governments of the world know it. They are more than happy to take charge in this current crisis. You've already seen that more and more they are placing the blame for all of this on the free market. You've already seen that more and more they're nationalize and recapitalizing the finance industries with public capital. Never forget that all public funds are either seized from the people through coercive use of force, or simply printed up new, adding to inflation and devaluation of the currency. Now, as the fear is reaching a fever pitch, with comparisons to one of the darkest periods in American history, the great depression, (, some politicians and commentators from around the world are calling for “the end of American style capitalism,” (

In the future, I'll point out how America has never enjoyed a truly free market. I'll show you how, since the very beginning, we've always labored under crony capitalism, and state supported capitalism, and government intervention. I'll point out how the only truly free market we've ever had has only occurred on the black market where it was free of government regulation, taxation, or control. But for now, think about how afraid you are and how willing the government is to take all that responsibility away from you to ease your fears.

Think about the end of American style capitalism.

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