Consider the following:
1. One man – with the help of a few government wizards – controls interest rates for everybody. Why is this so? It causes easy money and boom/bust cycles that don’t reflect economic reality.
2. The tax code builds in special protections for people to invest in real estate.
3. HUD, Fannie Mae, Freddie Mac and the Community Reinvestment Act strengthened under Bill Clinton forced lenders to give risky loans to people, which caused a horrible ripple effect we’re experiencing today as a tsunami.
4. Sarbanes-Oxley was signed into law in 2002, creating one of the most highly regulated business environments in U.S. history.
5. As of 2007 there were 74,402 pages in the federal register — the volume that documents government regulation.
In what sense is the US a capitalist, free-market system? In what sense
is the free movement of goods, services and investments responsible for
this mess? The socialists are cashing in on this. They caused it. Now their blaming freedom for the result of excessive government power.