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Would be interested to know what peeps think about the credit crunch.
I have counted myself as being a socialist most of my life. Over the last few years I have despaired of both socialism and capitalism – more of an anarchist than anything.
Reading a bit about anarchist philosophy and trying to imagine how it would work in reality has led me to ultimately despair about it as well though (it must be the perfect way forward… but it just cant work in reality with the situation that we live in… maybe in a 1000 years we will live in an Ian M Banks utopia akin to the culture [a perfectly realised anarchistic society] but we are a long way away from that just now.)
So where have I ended up? I can barely believe I am saying this… but I am strangely influenced by Ayn Rand and her extreme right wing view of capitalism.
After reading some of her stuff (and some general info from other Austrian economic school authors) I am beginning to think that it wasn’t so much capitalism that i wanted to destroy… just the bastardised version of it that we live in today.
Well worth reading this book if you are interested in this stuff. Basically Rands solution to the current credit crunch would be rather counter-intuitive. Basically… let the banks/ stock market go to hell… and then let them reform with no subsidy, no government intervention, no safety net for ever more. i.e. the exact opposite of what the world leaders seem to be bent on at present. In this brave new world banks could rise and fall. There would be no limits on companies banding together/fixing prices or trying to create monopolies. Its scary… but it might just work!?!?
Maybe I am just blinded by her arguments temporarily… but its interesting nonetheless.
I am astounded at the stance the US gov has taken on this – what the hell are they doing!! those banks and financial institutions who should be crashing left right and centre in order to rectify the insanity of their mad lending are being propped up!!!! madness
those fuck whits who have caused this whole mess and should be throwing themselves off building are still in place and will keep their jobs so they can do it all again!
what message does this send!!!
“hey mr banker, go and give as much money as you like to anyone you like and fuck the consequences. when the pigeons come home to roost don’t worry cos uncle sam will bail you out”
i reckon instead of a 8-10 year cycle at this rate we will be on a 4 year cycle.
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