The self-described socialist senator from Vermont, Bernard Sanders, is prematurely declaring the teachings of Milton Friedman dead in the fringe publication, In These Times. Many dim bulbs on Capitol Hill think the same way as Sanders does, so if only for that reason it’s worthwhile to see what he’s thinking.
The senator’s beliefs are not merely misguided but evil and profoundly un-American.
He and his fellow travellers on the Hill and in the media routinely lie and distort the history and function of markets in this country. Never does it occur to them that government, because it set the rules of the road and provided incentives for perverse behavior, is a primary cause of the current temporary economic downturn. Instead they are adherents of an imported ideology that tolerates no dissent and crushes all freedom.
Take this Sanders statement:
My colleagues in the Senate and I are now picking up the pieces of a banking system brought to the edge of collapse by this theory of deregulation and by the insatiable greed of a small number of wealthy financiers playing in the market and engaging in incredibly risky—if not illegal—behavior.
Which deregulation would he, as Congress enslaves future generations by running up debts in the trillions of dollars, be referring to? Sarbanes-Oxley? The Community Reinvestment Act? Ask these people for specifics and you consistently get stammering evasions.
Sanders and those like him are just trotting out the same lies that one of America’s worst presidents ever, Franklin Delano Roosevelt, used in the 1930s to vilify the market after government intervention helped to push it over the edge.
You cannot beat or overcome the business cycle no matter how hard you try. Markets go up and markets go down. But Sanders and his Marxist ilk cynically prey on the fears that people have in a bad economy in order to augment their own power.
They have effectively repealed the Thirteenth Amendment by making us all serfs. On this, the 200th anniversary of Lincoln’s birth, it is time for America once again to overthrow slavery.