Originally Posted by
fruitcake
Unlike Liberals, I do not subscribe to an ideology that says the world must revolve around my ass.
I am a well-defined liberal, and I do not believe that the world rotates around my posterior -- or any other part of my anatomy. In fact the world could hardly care less about me and my interests. It is essential that I duck and jump as necessary to avoid what Shakespeare calls "the slings and arrows of outrageous fortune" (Hamlet)and that I accommodate some idea of what is best for humanity as a whole.
(Hint: enrich your life. Get as deep into Shakespeare as possible and you will learn much about philosophy, human nature, and even politics. Think about it: no country whose literati know MacBeth can ever have a fascist or commie government.
Let me give you an example of how a Liberal thinks.
If the market moves against them a Liberal will say, "OMG the market has failed!"
ahhh do you see?
I know human nature far better than you. Markets are human institutions, and they work no better than the human participants. I also know economics far better than you. I have never known of any market failure that occurred without some human folly, vice, or simple bad luck. Packard Motor Car Company used to make fine cars, only to decide to cut corners to cut costs more than it cut prices. Packard Motor Car Company is no longer in existence. Schlitz Beer was one of the best sellers -- until it came out with an ad campaign that suggested that its drinkers were so hooked on their beer that they would defend it with inexcusable force. Montgomery-Ward refused to follow middle-class America to suburban shopping malls -- only to lose market share to its competitors Sears and J.C. Penney. Arthur Anderson disappeared from the ranks of the Big Eight Accounting firms because it didn't challenge (as a CPA firm must) the squirrelly methods of accounting that one of its largest clinets (Enron) used in efforts to conceal costs and overstate revenues. The business graveyard is full of "me-too" efforts to enter saturated markets without doing anything better. Such is folly.
Yes, it's also full of small companies whose owners couldn't convince their promising sons and daughters to stay in the business instead of going into law, accountancy, dentistry, or the like. It's full of companies whose grandchildren of the founders who elected to drain the assets to live the Good Life that someone else had earned. Of course such an activity as oil wild-catting offers huge rewards for discoveries of oil, and nothing for dry wells -- which people expect in that business.
Panics and crashes? Sure; some powerful people ensure that asset inflation becomes the only reliable way of getting rich or even protecting wealth. They become fast friends with the politicians that they support through campaign finance; such is especially common late in a 3T. The wealth "created" in the corrupt boom becomes illusory, but people commit to it and blame themselves if they aren't doing as well as speculators. The illusory wealth in the end proves to be without foundation, and lots of people who invested their retirement savings in "the only game in town" find themselves broke. The hollow political leaders of the time have no clue of what to do next.
Enrob Corporation -- excuse me for the Freudian slip -- failed due to the scams of its executives. Texaco -- an oil company! -- went under because it attempted to manipulte the prices of another oil company illegally and got taken over. That was gigantic folly.
There is no such thing as market failure --> only people who fail to understand that the market owes them nothing.
Of course the market will go up and also down, but that is not failure.
You confuse the "markets" of academic economics and the vicissitudes of the valuations of assets such as real estate, corporate securities, and commodities. Economic markets eventually show the vacuousness of wealth created entirely on paper.
I can't tell you enough about economics; all that I can tell you is that people can produce and find all sorts of things, but the only value that anything ever has is what someone can get out of it or what one can sell it for. At one point a piece of paper that entitled one to 100 shares of Enron common stock could buy a big chunk of an ordinary single-family house in Houston. It now has value only as a collectors' item.
Eventually the market decides what has value and what doesn't.
The next step a Liberal takes is to turn towards government and hope they "do something".
Liberalism is an ideology that advocates "going against" the market and believing they can win --> good luck!
No. The liberal expects the government to correct the mistakes of illiberal governments.
I believe the actions that Liberals ask government to take to avoid loss are the exact same actions which will lead us to the next "Gilded Age" or the road to serfdom.
I do not plan on being one of the "serfs" in this new gilded age, I plan on being one of the aristocrats.
You have shown incredible ignorance. First, you fail to recognize that the Gilded Age was a time of amoral greed overpowering all else. Second, you fail to recognize that the title The Road to Serfdom refers to a book, much praised among intelligent conservatives, by the late Friedrich Hayek, that presented an argument that efforts to subordinate economic life to socialistic tendencies would result in poverty and tyranny. Third, you claim that you will be one of the "aristocrats" of a plutocratic society -- only to forget the most obvious qualification for aristocratic status: being born or marrying into it.
The greatest evil is not now done in those sordid "dens of crime" (or) even in concentration camps and labour camps. In those we see its final result. But it is conceived and ordered... in clean, carpeted, warmed and well-lighted offices, by (those) who do not need to raise their voices. Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the office of a thoroughly nasty business concern."
― C.S. Lewis, The Screwtape Letters