Thomas Sowell – Obama’s Failed Economic Policies.
This short video below, from libertypen.blogspot.com, is a 2010 interview of Thomas Sowell talking about the Presidents economic policies and their consequences. The most interesting thing from the video is when he is asked, “Let’s talk about President Obama, do you think he is a socialist?“, He responds, “Not technically I suppose, because socialist usually means Government ownership of the means of production. The pattern he is following is much more like that of the fascists, where the Government leaves the means of production in private hands and the politicians tell them what to do. And that’s much more politically viable because after the Government forces the private industry to do something, and it turns out disastrously, you can always haul the people from private industry up before congressional committees, denounce them on television and so forth, leaving out the fact it was you who forced them to do what they did.”
Does this remind you of the housing bust in 2007, which was created by the Government and the Federal Reserve, but was blamed on the greedy capitalist system by politicians and their servile followers in the media.
These four articles explain the economics of Fascism. The last two articles are heavy lifting but well worth the effort. Ask yourself, is this or is this not what has been happening the last ten or fifteen years?
Related Article- The Economics of Fascism, at mises.org.
Related Article – Three New Deals: Why Nazis And Fascists Loved FDR, by David Gordon, at mises.org.
Related Article– The Vampire Economy And The Market, by Ben O’Neill, at mises.org. Excerpt from the article.
“Under the fascist economic system, private capitalists are nominally regarded as the owners of the means of production, meaning that they hold property titles to these assets and are referred to as “owners” of these assets……It is the state that tells the private capitalist how he must use “his” property, under the threat of confiscation or even imprisonment. In the words of economist Ludwig von Mises, it is “socialism in the outward guise of capitalism”.”
Related Article – The Vampire Economy: Italy, Germany, And The U.S., by Jeffery Herbener, at mises.org. Excerpt from the article.
“What distinguished the fascist variety of interventionism was its reliance on the idea of stability to justify extending state power. Big business and labor eagerly allied with the state to obtain stability against what Murray Rothbard called business fluctuations, the ups and downs of particular markets that result from shifting consumer demands……….To extend their control, the fascists bolstered fiscal expenditures with debt and monetary inflation. Not only did they hope thereby to dominate more and more industries with their expenditures, but also to boost public support for their regimes by generating economic prosperity. Instead, their reckless spending and inflating set in motion the boom-bust cycle. They took the depression as an opportunity to extend their power further by socializing investment with regulations while claiming that such measures would stabilize the business cycle.”