Blog Credo

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

H.L. Mencken

Saturday, October 15, 2011

Well Played, Hippie, Well Played Indeed



http://occupywallst.org/article/10-15-call-to-action/

So, the hippies in OWS have called for an end to neo-liberalism.

And people say they have no demands...

Neo-liberalism is not "liberalism" as it is understood in the politically and economically illiterate United States.  It is the liberalizing of markets, the freeing of markets from government oversight.

And OWS says it's ruining the world.

They might be right, though fat lot of good it will do them.

For me the best example of this is Spain.  Greece is a mess, because the Greeks made a mess.  Spain is suffering because... well, they had a housing bubble.  But they also had budget surpluses.  They are emphatically NOT Greece.

So why the run on Spanish debt that created a fiscal crisis?  Pretty much because there was money to be made off of it.

Think about that.

Right now the biggest problem facing the world economy is Europe, and a lot of Europe's problems (outside of Greece) are caused by unregulated financial speculation.  Remember, it's not Greece that's causing conniptions in Europe, but the idea that Spain or Italy might follow.

And they're worried about that because Spain got hit by the jackals of the financial world like a sick wildebeest calf too far from the herd.

Neo-liberalism isn't going anywhere, but it's nice to see that the hippies are aiming their ire at the right targets.

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