Wednesday, March 25, 2009

Usury is the cause

A recent post of mine over on the Blog at Mises.org:










Usury is the cause

Jim Fedako


According to Robyn Blumner, legalized "[u]sury has been a known evil since Babylonian times, yet we allowed it to revive and flourish. And so paved our path to ruin." She obviously missed Rothbard's History of Economic Thought during her research into the history of usury. Regardless, for many politicians, commentators, and assorted Progressives, the current crisis opens the door for new regulations, with the goal to end actions perceived to be societal ills. Next, I am waiting for blame to fall on trans fats, tobacco, and SUVs.

notes:

1. Ironically, while she states, "We've built trillion-dollar enterprises on nothing more than huckstering newer and more esoteric financial products," the folks in DC are huckstering newer and more esoteric trillion-dollar financial enterprises.
2. As you read her column, note how she alludes to bond traders as being nothing more than the despised middlemen -- sitting in mahogany offices, raking the cream off of financial transactions, and producing nothing save waste.


1 comment:

Anonymous said...

I always look forward to skipping over Blummer's weekly column in the Dispatch. As intellectually dishonest as Nicholas Kristof is, she is as uninsightful. Her columns are musings by, and for, the mindless.

A few years ago she wrote a column on her atheism, which, now shows her to be as untruthful as Kristof. From her newest piece she reveals that she, too--like the rest of her journo-weasel peers, worships at the alter of government. Big Surprise.