Mr. Freeze, The Financial Curmedgeon - Pointing His Big Fat Finger at the Wolves
Mr. Freeze and his minions have never believed that letting wolves tend the hen house was a good idea. Unfortunately, our financial system has been controlled by individuals who are only concerned with profit. There are a lot of capitalists who have been preaching the virtues of the “unfettered” free market for decades. Here is the constant refrain: “If we would just get out of the way and let the free market operate without the intervention of regulation, then business will prosper and everyone benefits.” This is an expression of the Ronald Reagan “trickle down” baloney that so many Americans believe in. Mr. Freeze knows that in America if something is said over and over again, often enough, then it becomes true. Well, today Mr. Freeze takes great pleasure in pointing his big fat figure at all of the libertarian/conservative think tanks, investment “experts,” day traders, financial publications and CEO’s who have manufactured this get rich easy propaganda. It is a sort of money-idolatry of biblical proportions. The tragic thing is that this MYTH is now causing domestic and international markets to self-destruct. As a public service, Mr. Freeze has provided you, dear reader, with two important media clips: a video from 60 Minutes broadcast last night, and one audio article from National Public Radio. I hope you have a few moments to reflect on what these pieces reveal. Click on the picture below to watch the 60 Minutes piece:
Please click on the NPR piece below to hear one of the most articulate observers of the current market break-down, John C. Bogle, Founder of the Vanguard Mutual Funds.
The pieces above confirm one of Mr. Freeze’s economic formulas: capitalism + greed - governmental regulation = disaster. There must be a well-considered balance between government and business. One cannot exist successfully without the other. Mr. Freeze is tired of hearing about the virtues of the free market system. Mr. Freeze lives in the REAL WORLD where people go bankrupt, where families fall apart, where jobs and careers are outsourced, and where ruinous things happen to people because a wealthy, elite financial class has been allowed to “make a profit” no matter the cost. Mr. Freeze hopes you’re all doing OK. Really.
