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The Fight for Capitalism Against Impostors

The Fight for Capitalism Against Impostors – Nicholas Scipione – Mises Institute.

The criminal liberal media, the Democrats,and even some Republicans, wrongly accused capitalism for what happened to us in 2008.  Capitalism, and deregulation, they asserted, caused this recession and so government must step in.
Nothing could be further from the truth.  And anyone who insists that the United States is a capitalist land doesn’t understand the basic definition of capitalism to begin with.  We cannot make a move in free commerce without some governing body regulating that move.  Entrepreneurs and investors must endure reams of paperwork to market a perceived, or actual, demand.
Our investors are not allowed to exploit/market the trillions of barrels of oil and gas we sit on.  They are not allowed to build the kind of cars consumers demand.  They are not even allowed to make coffee as hot as the customer would like all due to government interference.
Not long ago, I happened to be watching the great Maria Baritoromo on The Wall Street Journal Report and she was interviewing 2 economists.  The topic was Bernanke.  One was fawning “Obamaesque” praise over Bernanke for “saving us.”  The other had it right, that the interest rates are negligently low and that a bubble will be the result, not unlike the housing and tech bubbles that led to where we are.  He noted that, at the moment, we don’t know where the bubble is, but these interest rates, if not returned to sanity, will indeed be the cause of yet another bubble that will have to burst.
It’s why I like Maria Baritoromo (so did Joey Ramone).  All economic ideologies are represented at one time or another on her show, even an Austrian one.
Capitalism does not exist in the United States.  What we can say is that it is one of the MOST capitalist countries, but it still does not make it capitalist.  Fascism was socialism, just not as bad as communism.
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