Sunday, 24 April 2011

Keiser Report (E140): As Gold As Gold

This time Max Keiser and co-host, Stacy Herbert, report on downgrades, gold bars and third worlds. In the second half of the show, Max talks to Taki Oldham, director of The Billionaires Tea Party, about tea parties, astroturfing and Ayn Rand.

The argument from the right is that the freemarket will pick winners and losers, that consumers won't pick things that hurt their wellbeing. In practice there are problems here because those with great power (corporations) can hoodwink folks and slant things so that the masses will be at a significant disadvantage. There needs to be rules, some level of safety net, and some restrictions, in this freemarket - hence the US Constitution.

I like Max's idea of government being "the people's house" that provides real competition and oversight against corporate control in the interests of the wider population.

[Posted at the SpookyWeather blog, April 24th, 2011.]

1 comment:

steven andresen said...


At one time, the various groups that made up the United States agreed to disagree about their differences. They thought, we're told, that they calculated that working together ...even with grouops that opposed them on various issues,...would benefit them all in the long run more than continuing to be divided over these minor issues. This is the idea of the social contract or the people's house.

However, as the economy has been getting worse, these groups have decided that working together and ignoring differences, no longer provides these overwhelming benefits.

So, the religious right has thought that they should no longer ignore the fact that most of their fellow countryman disagree with them about abortion or women's rights or the role of relegion in the education of children.

Also, the rich no longer suppose that they have any obligation to care for the less fortunate. Hence, they are working hard to eliminate any government mandated altruisms demanded of them.

Yes, the people's house is a fine idea, but it would not be one which the rich would buy into at all.