November 18, 2011

Flying From Frying-Pan To Furnace

Thomas Jefferson
“The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” -- Thomas Jefferson

Earlier on I have pointed out that the growing trend toward conflating free markets with big business, state-directed capitalism will eventually lead to society's 'throwing the baby out with the bathwater'. Indeed, it is likely that the father of free markets, who introduced the at that time radical concept of 'the invisible hand', Adam Smith Would Neither Recognize Nor Approve Our Financial, Monetary, Economic Or Legal Systems. He advocated government oversight to forestall corporate monopolies!

The reality, though, is that power abhors a vacuum. Just as the Tea Party movement, modeled on the original Boston Tea Party that rebelled against tax favoritism and crony capitalism by the Crown was hijacked by the mainstream political 'right', veering off course - so too is the OWS movement likely to be co-opted by the populist 'left' and used to advance a socialist agenda as the masses look towards the State to be their savior. Either way, we are headed directly from the 'frying pan into the furnace'.

There is no easy way out of this mess, despite what power-hungry politicians keep telling the masses. Every step we take to avoid the pain of adjustment today will surely lead to ten times more suffering down the road as future generations will come to realize when the piper returns to collect on his tab!

By the way, for those who cling to the foolish notion that police are only doing their job rather than blatant brutality to crush a popular movement, here's a wake-up call you won't see on 'Faux News':

And here is a crash course on what real (free market) capitalism is all about:

Finally, the core principles upon which it is based:

The Occupy Movement Is Protesting the SAME THING that the Founding Fathers Protested at the Boston Tea Party

The Occupy – And Original 2009 Tea Party – Movement Is Protesting the SAME THING that the Founding Fathers Protested at the Boston Tea Party

I noted yesterday:
The Founding Fathers hated big corporations. See this, this and this. They were as suspicious of big corporations as they were the monarchy. So they only allowed corporate charters for a very brief duration, in order to carry out a specific, time-limited project.
As James Madison noted:
There is an evil which ought to be guarded against in the indefinite accumulation of property from the capacity of holding it in perpetuity by…corporations. The power of all corporations ought to be limited in this respect. The growing wealth acquired by them never fails to be a source of abuses.
Indeed, while the Boston Tea Party was a revolt against taxation without representation, it largely centered on the British government’s crony capitalism – and disproportionate tax breaks – towards the East India Company, the giant company which dominated the tea market and hurt small American business.
Protesting against the government propping up today’s giant banks – who are ruining the chance for small businesses to have a fair chance at competing – is exactly the same idea.
As I’ve repeatedly noted, the “Tea Party” movement starting in 2009 was also originally centered on the protesting government bailouts of the giant banks. See this, this, this, this and this.
While it was quickly hijacked by the mainstream Republican party, Sarah Palin, Neocons and others, the Tea Party was originally an anti-crony capitalism, anti-corruption, anti-bank bailouts protest. As such, it really was originally modeled on the Boston Tea party.
No wonder – as I noted last month:
The Oath Keepers and a founding member of the Tea Party announced that they are supporting the current protests on Wall Street and against the Federal Reserve.
Another key founder of the Tea Party – Karl Denninger – also supports the protests, and points out that the demands of the Tea Party protesters were originally very similar to those of the Occupy protesters (before the mainstream Republican party co-opted the Tea Party) .
Numerous local tea party leaders, such as the leader for the Trenton area, also support the Occupy protests.

No comments:

Post a Comment