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Biden Chokes Up During Debate
Bush ran on a platform of being FISCALLY CONSERVATIVE, since reasoning is hard for you to grasp this lil' graph should help you.
New Orleans? Failure of big government and democrats? What like FEMA appointment by the Bush Administration never happened? What Big Government are you talking about anyway? Last I checked Bush all but privatized the whole shebang by hiring out consultants for everything including the War on Terror.
III. Do Free Markets Exist? (Blog Entry by imstellar28)
Deregulating the market - case study: Enron & California
Not to mention the slow and gradual nullification of the powers that federal agencies have in regulating these companies.
III. Do Free Markets Exist? (Blog Entry by imstellar28)
One tenant of a completely free market is the lack of asymmetrical information, that both the buyer and seller are aware of all other buyers and sellers.
In your example, the parent would know of all other kids competing for money to mow the lawn, the kid is aware of all parents seeking his services and at what price point.
This is just a small local example, this can be taken further on international levels, where it gets even more complicated as we factor in protectionist trade policy, trade agreements, trade restrictions, trade quotas and so on.
For example in the 70s, the Japanese auto industry was decimating the local auto industry in the US, the Big 3 lobbied the government to do something about it. Through negotiations the Japanese agreed to a voluntary quota system, they would import only a limited amount of their more efficient cars, this drove up their price artificially in the market, allowing them to gain alot of profit by re-branding their cars for a luxury car market known today as the Lexus.
The Big 3 gained via continued dominion of the US auto market, the Japanese gained through a new luxury auto market, while the consumer lost because market efficiency was not there, the cheapest model cars made in Japan were not available to the US consumer.
International trade fails free market ideals in many ways, since a lot of first world nations do not allow third world nations into their markets especially in terms of agriculture. In the 1920s to 1950s, there was highly restrictive trade as various international economics locked off their markets to rebuild their economics, this took over 70 years to slowly unravel via the GATT and the emergence of the WTO. However there are a lot of barriers, the G8 also have larger influence and bargaining strength over third world nations, they also understand WTO legalese better.
Now think of something that holds a large control of the market like Wallmart in the retail industry, in some areas they are the sole superstore thus this is already not a free market, everyone is forced to purchase their products at one place. This doesn't stop the seller to change their price because the consumer is dependent. This is where we can say no free market exists due to regional monopoly.
The closest we come to a free market is the stock market but only on price, all sellers and buyers know the price however not everyone knows profit forecasts, insider information, business conditions, corporate structure and so on.
Palin - Katie Couric Annoyed Me, So I Couldn't Name a Case
Economic policy (Blog Entry by jwray)
This is where I think the problem develops, those who followed free market beliefs cocoon their though process into believing that the free market can and does self regulate in the long term, without really address the effect of such policy on sectors not adequately covered such as infrastructure, health care, defense, and so on.
Sarah Palin: A bad choice but... I'd still... you know?
Tina Fey on the other hand though...
Biden Chokes Up During Debate
Well Joe, your side of the aisle believes people live to serve government, not the other way around. Your idea of "help" is a crushing tax burden you and your ilk inflict on people who work hard, in order for you and your cronies to buy the votes of the indolent welfare class, illegals, ex-cons and bureaucrats.
Wait did you just say that the Republican Party who have held a near dominant position for the last 8 years have been fiscally conservative and serving the American people?
I think folks over in New Orleans would disagree.
Hawksley Workman "Striptease"
Cradle of Filth - From the Cradle to Enslave
The Subprime Primer
I think people need a recall.
"According to him, the biggest mistake that everyone made was that housing prices will always go up, so these risky investments would be safe in the end."
It's so funny how this is always the reason for something like this. It shows an utter detachment from the reality of business cycles. No market ever perpetually keeps going up and up. Especially something as volatile as housing prices.
Burning Down The House: What Caused Our Economic Crisis?
SNL's VP Debate with Gov. Palin and Senator Biden
*discard *dupe
Nobel Prize for Literature goes to? (Books Talk Post)
Play by Play: What Caused the Current Economic Crisis
These finical instruments were highly complex derivatives that sometimes even those who packaged them didn't really understand their ultimate risk factor, if you think that is unlikely then remember that Enron in it's heyday was selling weather futures.