Did you know thatt The Wall Street Journal wants Mitt Romney to run a campaign based on Bain Capital SAVING America? Did Bain Captial sae America? You don't believe that. I don't believe that. NON ONE blieves that, except thedespicable Wall Stretet Journal and the economic fascists of Wall street--who want a government of Wall Street, by Wall Street and for Wall Street (I offer lthis line to Gingrich free of charge, even though I don't support him for President).
Even the Wll Street Journal--which the author of this blog DISWNED some 40 years ago, and has never found cause to believe he was wrong--cannot possibly believe that Bain Capital literally "saved America". Even Mitt Romney does not try to say this, even as he uts TTO MUCH emphaiss on Bain Capital PROVING he"knows" how to create jobs, without EXPLAINING ow that translates into GOVERNMENT POLICY (see previouis article). As I said in the previous article, Bain Capital is a MILD PSITIVE for Mitt Romney, It CANNT be the end-all of his campaign. But what the Wall Streeet Journal wants Romney to do is to say that WALL STREET SAVED AMERICA. Read the line in my first paragraph agai. The people on Wall Street LITERALLY think that way. I am not intending to exaggerate. These truly are, as this blog has been saing for a DCADE or so: The Stupidest People on Earth (along with "journalists").
Say what/ Yes, for as long as I have know anythinhg about the Wall Street Journal, it has taken the positon that BIG MERGERS are "necessary" to make business "more efficient", and weed out the weeak. This is a VIOILATION of free market theory-this Wall Street Journal idea that BIG is GOOD. In other words, the Wall sTreet Journal setill EMBRACES "too big to fail". The Wall Street Journal calls this "consolodation" that makes business more 'efficient" (translation, people get FIRED). Free market THEORY (the "invisible hand" of Adam Smith) is based on multiple free market units acting in their own sef interst, who allocate resources corrctly by the COMBIANTION of all of their decisions--beteter than the FALIBLE "cnetral planning" decisoins of either government or some masssive Wall Street organized companies. Free market theory BRAKS DOWN if the "units" whose decisioins combine to make up the 'invisible hand" of Adam Smith have enough POWER to KNOWINGLY affect the marke. In other words, "too big to fail' is aVALIDATION of free market theory: that if "free market" units are big enough, or powerful enough, to exercise CONTROL over the market, then you no longer have a "free market". What you have is COPORATE CENTRAL PLAANNING, iwth the SAME defects as Big Government. Yuo haev, in short, a "too big to fai" philosopphy of economic fascismm: a philosopphy of a PARNERSHIP betwenn Bib Business and Big Goverfnment to CONTROL the economy (and, incidentally, to always BAIL OUT Wall Street, even as the poor and hungry and others are not allowed to be "bailed out".
That is what the Wall Street Journal wantss Mitt Romney to do; to base his campaign on WALL STREET. I mean the headline, againm, literally. This blog would lie to KILL OFF the candidacy of Mitt Romney. You would think thee Wall Street Journal was acting as the AGENT of this blog. There is NOTHING more CERTAN than that the Mitt Roomnety campaign is DEAD if he bases his entire campaign on WALL STREET (as illustrated by Bain Capital) saving America.
Yep. The unfair and unbalanced network is still "all in" for Romney, as that network--like a lemming heading for the sea-heads for the dustbin of history. I did NOT "read" the Wall Street Jouranl for this article. I have essentially boyctotted the Wall STreet Joournal for 40 years. I head the Wall STreet Journal athor FEATURED on the unafiar and unbalanced network, talking about how American corpoartins had become "ineefficient" --building up too much cash jut waiting for CORPOARATE RAIDERS--as 50% of all public companies faced HOSTILE TAKEOVER bids. The wall Street Journal position is that these HNOSTILE takeover bids--big mergers between public companies, as well as "leveraged buyouts" using the company's own money to buy it--were necessary to "week out' (Darwin style) the "inefficient" companies (those managed for tomorrow, sometimes, and not just for today's Wall Street stupid person). The whle alleged goal is "efffficiency" (FIRING people in the interest of making money for Wal lStreet, and DESTORYING free market theory). Goog luck Romney. I ENCOURAGE you to campaign on tis thoery,. I willwrite your eulogy. , And yes, you ARE coming too close already to comapiaigning on this idea that it is WALL STREET efforts like Bain Capital who will lead this country back to the "promised land" (NOT free market theory).
Let me be clear. Bain Capital is not the kind of Wall Street, free market destroying econmic fascism that onlly the despicable Wall Street Journal could defend. Bain mainly involved VENTURE CAPITAL (a good thing), and turning around SMALLER corporations. It is a BAD thing for government to interfere in that sort of operation, and the operation itself is POSITIVE (net) for the eoncomy. Yet, it is hradly right that this kind of operatioins "saved' America. What could "save" America is FREE MARKET theory, indstead of the theoretial and practical FAILURE of CENTRAL PLANNING (whether by Walll Street peole or by governmnet).
What about this idea that WALL STREET "saved America"? ..................................................................................................Sorry ,. I almost died again, here on the flor laughing and crying. Wall Street was DEAD It was DEAD AS A DOORNAIL. It had KILLED ITSELF. Like the economic fascists they are, they LOOKED TO GOVEERNMENT to save them. They looked to YOU and to ME to SAVE them by BAILING THEM OUT. No, it is no good to say that government policies led us into that debacle. Sure they did. But Wall Street bought into it all, and even added things like derivatives--leading to a house of cards ready to FALL. And it DID FALL. Then WE were asked to bail them out. How can I say thesese are The Stupidest People on Earth, when they got US to bail THMEM out? Obviusly, in their own SELF INTERST--hsort-term self intrest--in AMAKING MONEY they are not so stupid. But in terms of developng a healthy system, they ARE The Stupidest People on Earth. And tTHIS is what the Wall street Journal wants Mitt Romney to EMBFRRACE. Give me a break.
You think Wall stret has learned anything? Not a chance. They have DOUBLED DOWN on economnic fasicism. They want to be TAILED OUT in Europe--includnig by the AmERICAN taxpayer. They want to be CONTINUALLY BAILED OUT by Ben Bernanke and tghe Fed, and one of the dirty little secrets out there is that Wll Street is STILL being bailed out every single day by our government and our Federal Reserve. The stock market goes UP every time a new Fed BAILUT is announced or implied, and every time a POLITICIAN says taht he or she is ging to do what Wall Street wants (generally a GUARANTEE that Wall Street will not be allowed to FAIL),
I not longer think Mitt Romney CAN beat Barack Obama, short of a complete economic collapse by November (more than possible). I get the impression that Romney's instincts ARE Wall Street instincts. Here is my favorite definition of economic fascism: "socialism with an capitalist veneer" Did I jsut call Romney a SOCIALIST. In a way. I jut called him an ECONMIC FASCIST--a guy who seemss to want government of Wall Street, for Wall Street, and by Wall Street. Yes, you and I know that such a government, as implied by the definition I just gave, ends up DESTORYING not ony a free market economy but the Wall Street epole who buy into it. But we are smart. Mitt Romney is not smart. Wall Street people are not smart. It is not accient that MOST supported BARACK OBAMA. It turns out that BAIN CAPITAL people donated more money to DEMOCRATS than to GOP candidates overall. That, too, is not accident.
Newt Gingirch made a bad mistake in the WAY in which he attacked Bain Capital. However, Gingrich could not make a big enough mistake to save Mitt Romey if Romney embraces the Wall Street/Wall Street Journal theory of government. He is comng close. If he follows the "adice" of teh Wall Street Journal, and the unfairand unbalanced network, nothing can save him. Personally, I think it is too late, unless Romney IVOTS away into a real EBRACE of rree market thoery, instead of embracing government of, by and for Wall Street. You know what would HELP Romney, as this blog has said about the GOP in general? If Romney wre to come out AGAINST BIG MERGERS (which would NOT be against operations like Bain), and say that we were STUPID to let companies get "too big to fail" by MERGER, he would suddently get beyond this TRAP of being ONE with WALL STREET. Romney, the GOP and conservatives seem to simply be unable to make this STAND against CENTRAL PALNNING (whether by government or BIG corpoarte entities), in favor of free market theories. Too bad.
P.S No proofreading or spell checking (bad eyesight). I am not kidding above. Ever since the inception of this blgo, and YEARS before Wall Street EXCESSES created "too big to fail" and essetnailly almost brought down this country (as they still may), I wrned about us creating this house of cards ready to fall by making it more than possible fore the bad deicisons of a FEW to bring down our economy. That is the main FALW in central planning (practial falw and theoreticla flaw). When the decisions of a FEW go wrong, it is FATAL. It is not that "cnetral palnneing" deicsioins--the decisons of individual MEN controlling our economy--are always WRONG. The roblem is that when they are wrong, as will alsys SOMETIMES happen with fallible men, the result is CATASTROPHIC FAILURE> By "efficiencecy" Wall Seet means something far from the "efficient' allocation of resources provided by an "infinite' number of small decisons by entites who cannot singly affect the market (or know the resut of their individual deicisons on the whole maret) ., What Wall Street means by "efficiency" is the OPOPOSITE of frfee market theory: where WALL STREET peole CONTROL the way the market works--the essence of CENTRAL PLANNING. Do ou see yet why I could never vote for the present Mitt Romney for President? It does not matter. Even if you do not, the Wall Street Journal and the unfiar and unbalanced network are acting as MY AGENTS to KILL OFF Mitt Romney (politically speaking).