Corporatism Is Your Fault

One of the most intriguing figures of this election season so far has been Congressman Dr. Ron Paul, a Republican from Texas. The Federal Reserve manipulates rates of interest and creates credit score out of skinny air, allowing us to stay well past our means with low and unfavorable savings charges, resulting in the truth that “we have now deserted a vital part of free-market capitalism, without which a easy and growing financial system is unsustainable.” The bubbles within the financial system, such because the lately burst housing market bubble, are created from the Federal Reserve creating simple credit; and the nonexistent financial savings rate, a key driving drive of true capitalism, is allowed and encouraged by the system.

Sarcastically, the aim of this type of corporatism — within the U.S. as in Europe and Asia — has been to avoid extra direct government intervention available in the market, by … Read More