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Was the housing market bubble the fault of capitalism, or the fault of the government?
Multi part question....
1. Was the housing market bubble the fault of capitalism, or the fault of the government?
2. Who established the interest rates on the loans, the free market or the Federal Reserve? Would the free market have kept rates so low for so long?
3. Who guaranteed these bad loans so they could immediately be sold off? The free market or the government?
4. Who relaxed the standards required to get a loan? Freddie and Fannie (the government) or the free market?
5. Who came back later and bailed out these corrupt banks? The government or the free market?
Watchthiscityfall...
Yes. I want a free market. And I've heard Naomi Klein speak about her book. She makes some valid points about the abuses that have occurred under capitalism, but she fails to make the point that it is THE GOVERNMENT that let's these abuses occur.
What we have is CORPORATISM. It's a mixed economy alright... a mix of Big Government and Big Business. Big Government is bought and paid for by Big Business, so Big Business gets it's way.. and Big Government gets even bigger.
I'm a libertarian and I believe in free markets, sound money and limited government.
The big key is LIMITED government. Not NO government. I want a government that doesn't have it's hands in everything. Our federal government has it's hands in almost every industry. Energy, transportation, food and drugs, etc. Since the government has an influence on everything, some companies don't get punished for doing wrong... or they receive special favors or subsidies.
The government shouldn't
Watchthiscityfall...
Yes. I want a free market. And I've heard Naomi Klein speak about her book. She makes some valid points about the abuses that have occurred under capitalism, but she fails to make the point that it is THE GOVERNMENT that let's these abuses occur.
What we have is CORPORATISM. It's a mixed economy alright... a mix of Big Government and Big Business. Big Government is bought and paid for by Big Business, so Big Business gets it's way.. and Big Government gets even bigger.
I'm a libertarian and I believe in free markets, sound money and limited government.
The big key is LIMITED government. Not NO government. I want a government that doesn't have it's hands in everything. Our federal government has it's hands in almost every industry. Energy, transportation, food and drugs, etc. Since the government has an influence on everything, some companies don't get punished for doing wrong... or they receive special favors or subsidies.
The government shouldn't
The government shouldn't be involved in all that stuff. This way, it doesn't have a vested interest in anything other than the law and enforcing the law. The reason our environment is so polluted, is because the government let's certain companies pollute through lax regulations. Lobbyists donate money to politician's campaigns... and when they get elected, they relax the regs.
In a true free market, there would be limited to no regs, but you could still sue for the wrong doing. If your land was polluted, you could sue for damages. In our corporatist environment, if you sue, you can't get any damages unless you prove the company broke the law. If the law is lax and they didn't break the law... you're just screwed. In other words, the government, by favoring the corporation over the citizen, allowed capitalism to harm the citizen.
Limited government.. by not having it's meddling hands in every industry... would go back to being the WATCHDOG... to prevent the abuses of the free market..
4 Answers
- Anonymous1 decade agoFavorite Answer
Government and the Federal Reserve.
- Anonymous1 decade ago
Well let's see,
Can you imagine what the economy would be like if all the banks we bailed out would have went down the tube? A hell out a lot worse. And are you not remembering bush had a bailout? Well I guess neo-cons like you forget your own mistakes. We had eight years of Bush, it takes time to recover. Things don't happen that quick, that's called wishful thinking. Anyway --
Do you really want a free market? A 100% free market means the government has almost no hand in the economy, if you don't want a minimum wage, so be it..wait until you get paid 0.45 cents an hour.
Banks charge whatever they want when they want.
Companies do what they wish, like your safety regulations at your job? Kiss them good bye.
Try reading a book called -- The Shock Doctrine by Naomi Klein ...you might change your mind spreading love of a free market.
We are in what is called a mixed market, some Socialist programs with mainly a capitalist ideology. We have never had a true free market, and I pray (I don't believe in any religion) that we never do.
- gwinnjrLv 44 years ago
nicely you're patently no longer into politics aside possibly out of your mainstream media indoctrination. do not concern even though it occurs to the better individuals. the answer is capitalism: because there does no longer be a housing bubble to burst in socialism. to positioned into the fingers of marketplace forces something as necessary as a house is a organic capitalist invention. Capitalism might want to promote your soul to that aspect they call "loose marketplace" if it would want to. loose marketplace isn't a similar as socialization too: loose marketplace changed into coined famously by Adam Smith and that i believe he's a capitalist; one which you depending your structure after (once you're an American) between many others. Socialization as you're saying "fannie mae and freddie mac/eg the authorities backing all the loans" in basic terms isn't socialism yet an insignificant acknowledgment that capitalism isn't sustainable because contained in the destiny the wealthy get richer and the undesirable get poorer. which ability if the tremendous adult men flop they could get rescued yet no longer the small city businesses, a lot for survival of the fittest. That attempt is to salvage what's left of capitalism in disaster.
- BlessedLv 71 decade ago
1. the government
2. the government
3. the government
4. the government
5/ the government
now that you know the government does not know how to run anything, why do people still put the same people into office?
