baubles of my mind's eye

cultureofresistance:

atomicsocialist:

logicallypositive:

atomicsocialist:

Behold! Marvel at the efficiency of the free market!

lol come on now Mike, even you must admit this is a clever straw man.

The glut of foreclosed homes are due to central bank manipulation, not the free market. This was predicted 90 years before it happened by Mises. Ron Paul warned it would happen a decade before the bubble collapsed.

Not at all, it’s because the completely unregulated derivatives market incentivized giving loans to people who couldn’t afford them and would surely default. The exasperated boom and bust practices of the fed which are fairly new did have something to do with the crash however it was mostly because a completely unregulated derivatives market allowed companies to build CDO’s they knew would fail and then bet on their failure. When the market finds a way to incentivize failure and foreclosure, you’re gonna see a whole lot more of it

True story, Richard Heinberg’s ‘The End of Growth’ gives a great overview of how the unregulated derivative market led to the crash of ‘08. It was definitely a result of unregulated markets. 

(Source: turkishbolshevik, via socialuprooting)