Are we going through it again. NOBODY EVER SAID IT WAS CAPITALISM...IT WAS MEN WHO WERE FREE MARKET CAPITALISTS BY PHILOSOPHY!!!!!!!!

Are you telling me the Markets never spin out of balance and leave people destitute? Are you telling me there would good old days before the entitlements when people did not suffer from the failures of capitalism? I guess that whole great depression is a myth?

Really? Could you perhaps explain what you meant here then:

viewtopic.php?f=12&t=14420&p=467061&hilit=capitalism#p467061



(Getting popcorn ready, waiting to see how he dodges and wiggles this time)

I had no idea how amazingly stupid you are until this moment.

Are we going through it again. NOBODY EVER SAID IT WAS CAPITALISM...IT WAS MEN WHO WERE FREE MARKET CAPITALISTS BY PHILOSOPHY!!!!!!!!

Are you telling me the Markets never spin out of balance and leave people destitute? Are you telling me there would good old days before the entitlements when people did not suffer from the failures of capitalism? I guess that whole great depression is a myth?

No, in fact, you have blamed the Free market and Laissez-Faire policies themselves. Now you are trying to backtrack. You can't seem to come to grips with the fact that when Capitalism is meddled with, it becomes less effective. Before the Fed, the United States had enjoyed the greatest growth it ever had in its history. After the progressives brought in the Fed the progress had been stunted. The normal business cycle was not allowed to continue because of government (socialist) interference.

When the economy is left in the hands of individual, each attending to their own self interests, free to choose as they will, that is when society benefits the most. Not with this command from the top type structure you defend.

"The proud and unfeeling landlord views his extensive fields, and without a thought for the wants of his brethren, in imagination consumes himself the whole harvest ... [Yet] the capacity of his stomach bears no proportion to the immensity of his desires ... the rest he will be obliged to distribute among those, who prepare, in the nicest manner, that little which he himself makes use of, among those who fit up the palace in which this little is to be consumed, among those who provide and keep in order all the different baubles and trinkets which are employed in the economy of greatness; all of whom thus derive from his luxury and caprice, that share of the necessaries of life, which they would in vain have expected from his humanity or his justice...The rich...are led by an invisible hand to make nearly the same distribution of the necessaries of life, which would have been made, had the earth been divided into equal portions among all its inhabitants, and thus without intending it, without knowing it, advance the interest of the society..." - Adam Smith

The following is from wiki on the Great Depression and is listed as opinion with out much citation, however, it seem relevant here:
Thus, the personal political and policy viewpoints of scholars greatly color their analysis of historic events occurring eight decades ago. An even larger question is whether the Great Depression was primarily a failure on the part of free markets or a failure of government efforts to regulate interest rates, curtail widespread bank failures, and control the money supply. Those who believe in a larger economic role for the state believe that it was primarily a failure of free markets, while those who believe in a smaller role for the state believe that it was primarily a failure of government that compounded the problem (H here: I believe this a bit simplistic view propagated by people like Jafo).

It is Heraclitis' position that the Great Depression was caused by both events because the bankers who caused the problems with the free market running wild were the same ones running the Fed that failed to decrease interest rates. It is also my position that they failed to decrease interest rates out of self interest driven by greed (after all they were only human).

It is Jafo's position (at least my interpretation of your opinion after trying many times to actually get you to state your position with some clarity) that the socialist government that had been brewing behind the backs of the three most recent Laissez Faire Presidents (Harding, Coolidge and Hoover) and a radical Laissez Faire / Trickle Down Treasury Secretary (Andrew Mellon) were able to perpetrate the coup of the century by getting the Federal Reserve (administered by Laissez Faire Bankers) to meddle with the Free Market by not doing anything at all! They did not lower the interest rates! That is the mechanism of meddling, not doing anything at all! They did not drop money from a helicopter!

You Decide?

How many times do we have to go back and point out what was said when Jafo brings us back to square one!

Jafo, The Great depression was a Failure of Capitalism!

So again you say The Great Depression was a Success of Capitalism?

Or are you going to argue Mellon and Hoover were not capitalists, they were socialists in drag (again and again and again and again)!

Jafo, The Great depression was a Failure of Capitalism!