also, I would say her economic philosophy is flawed... unregulated financial products are partly to blame for our present economic downturn, so it would stand to reason that one can not have a completely unregulated economic system as it will give way to massive fraud and theft as our bankers have recently demonstrated...
The problem is not lack of regulation. The problem is that the banks have monopoly power through the Federal Reserve Cartel, and the government is wholly owned by the banks.
The FED claims to be responsible for the banks. So people don't pay attention to what their bank does, they deposit their money, and know FDIC will cover them. This is known in economics as a moral hazard. A false sense of security encourages people to take excessive risks.
The FED knew exactly what was going on with all of these banks, and did not act against them. The FEDs have access to the balance sheets of these firms 24/7. If individual investors were watching the banks, they would have seen the problems coming.
Same thing with Bernie Madoff. He was close personal friends with the heads of the SEC. So everyone invested with him, thinking, he's close to the SEC, so he must be a good guy to invest with. Meanwhile, he's running the largest private ponzi scheme in human history.
The American system is not a free market. The money is regulated. There are hundreds if not thousands of taxes. The tax code alone is 62,000 pages. There are over 10,000 federal crimes, most of them are oriented around property. You've got union law, minimum wage law, anti-discrimination law. You've got to register. You can be audited.
Banks are highly regulated. Medicine is highly regulated. Invention is highly regulated. Education is highly regulated.
Does that sound like freedom?
No one has been charged with fraud, everyone who committed fraud has been paid off, and Geithner, the #1 banking regulator as the Chairman of the NY FED, is now in charge of further defrauding the public.
So please, don't say it was a lack of regulation. This is straight up theft and fraud by criminals, and they are still getting away with it. Lack of regulation lets all of the private and public crooks off the hook, as though they simple-mindedly changed some laws by accident.
The free market punishes fraud and theft. It strips those people of their property and provides restitution to victims. That is not what is happening here. There is no justice. There are just more lies and more fraud. And that is why people are protesting.
They see the injustice and no one will speak for them, as the corporate media tries to paint them as crazies and their concerns as illegitimate.
Laissez-faire is a better system, simply because it is decentralized, and there is no monopoly regulator to bribe, coerce or infiltrate.
When you centralize power, you attract all corruption and evil to that location.
When you spread out power, there is no systemic risk because the system is modular.
That is the entire notion behind federalism. Diversify power, divide it amongst the people, amongst hundreds of elected representatives. That is the radical notion of human liberty. Let people rule themselves instead of letting only the criminal rule.
