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By Pete Moore On November 3rd, 2011

“There is something rather pathetic about American liberals desperately clinging to a distinctly top down anti-market approach that has spectacularly failed in Europe, and is now dragging America down too. On both sides of the Atlantic, the grandiose Big Government vision of the Left is collapsing in turmoil and disarray.”

Nile Gardiner

We seem to have it all with dramas and crises and catastrophes which the euro-elites provide daily. But it’s not merely about the euro and Greece and keeping the dream of a more perfectly socialist union alive. There’s a larger context and it’s that we are seeing the end of the regulatory welfare state.

Post-war governments and supra-national elites didn’t test the economic boundaries of their model states and societies, they smashed so far through them that monstrous confiscation of private wealth was long ago greatly surpassed by their ability to borrow, spend and condemn future generations to lives poorer than otherwise. Those models are now in collapse as the iron laws of economics assert themselves and there is nothing they can do about it.

When future historians look back, the likes of Papandreou and the referendum will be details in a much greater story because these are revolutionary times and those times are still just beginning.

10 Responses to “ATW QOTD”

  1. It seems to me that Barack O’Bama is inclined to turn the once dynamic USA into a ‘Socialist state a la Europee’
    I can appreciate the socialist ideal of “from each according to his ability to each according to his need.”
    The problem is that human nature only remembers the second part of that statement, and until Richard Clinton succeeds in changing us all for the better, it will remain thus.
    People (even I) tend to be inclined towards selfishness and laziness.
    For instance, thank God that America wasn’t a Socialist State during both World Wars.
    She would have been no good to anyone.
    Liberals and socialists cannot face up to the fact that the world is now a global market, and the reason why China is now the dominant economic world power owes NOTHING to Health and Safety, Human Rights, Workers Rights or Union power..

    American business (like many European nations) has become fat, lazy and greedy, with too much outsourcing of manufacturing which benefits only the recipient nation and the plutocrats.

  2. Agitated

    A profoundly incoherent comment, even by your standards.

    Eg. according to Rightworld, FDR was a commie, so the USA was indeed “a Socalist State” during WW2.

    And why is China so dominant? Is it due to its pursuit of free market capitalism as espoused by you and your pals? Or maybe something a tad more complex, including the outsourcing of US manufacturing because there was nothing to stop it and wages in China were 90% lower? So maybe the “fat, lazy and greedy” US workers should work for one dollar an hour?

  3. The Chinese worker is cheaper and is more dependable too.

    If that’s not a killer app, I don’t know what is.

  4. “…There is something rather pathetic about American liberals desperately clinging to a distinctly top down anti-market approach that has spectacularly failed in Europe, ”

    ain’t that the truth.

  5. Peter –

    FDR was at least deeply socialist and authoritarian.

  6. Here’s the killer app: World trade imbalances are about to hit the buffers. That mean springtime for some and winter for others, including the mercantilists in China. As soon as the export bonanza dies their economy will implode, and with it their despotic regime. And good riddance.

  7. The Chinese won’t need exports to the US. They are finding their trade accounts full of useless dollars which are produced in trillions from nothing. With control over their own money and usury-free investment loans, the Chinese will have their own consumer market to buy products which they themselves manufacture.

  8. Agit8ed,

    “Richard Clinton succeeds in changing us all for the better, it will remain thus.”

    I can but try. But did you note, as I did, the language of Pete’s post: “monstrous confiscation of private wealth”.

    When did that happen? I thought that sort of thing had ended with the Nazis.

    You want monstrous? This is monstrous:

    Billionaire Roman Abramovich had to be persuaded to invest in Russian aluminum plants in 2000 because “every three days someone was murdered in that business,” he told a London court.

    Abramovich, testifying in the $6.8 billion legal fight with his former business partner Boris Berezovsky, said he got into the aluminum business in spite of worker disputes and the presence of criminal gangs after being pressured by Badri Patarkatsishvili, an associate of Berezovsky.

    “I didn’t want to have anything to do with a business like that without Badri,” the 45-year-old billionaire owner of Chelsea Football Club said. “I wouldn’t have poked my nose in there.”

    Abramovich was part of a group who bought the assets, including one of the largest aluminum smelters in the world, for around $550 million in 2000. Berezovsky says Abramovich could never have taken part in that deal without his help and political connections and that he wasn’t paid enough for his stake in the business. The aluminum assets eventually became part of what is now United Co. Rusal.

    Berezovsky claims in his lawsuit that Abramovich bullied him into selling his stakes in Russian oil and metal companies, including OAO Sibneft, for far below their real value by telling him the government would seize his shares if he didn’t sell. The London trial has provided insight into how two of the world’s richest men made their fortunes in the chaos following the collapse of communism, and how their friendship soured after Berezovsky fled Russia in 2000.

    So who are the monsters… and what the donald duck would Jesus say?

  9. Richard Clinton –

    This year the state will plunder around 50 per cent of everything we produce. For many it will be over half of what they produce.

    At least Danes and Norsemen occasionally settled down and lived in peace, the modern illiberal state is permanently viking against us.

    At least medieval serfs only had to give up 10 per cent of their produce. Oh to be a looted merely like a serf.

  10. “A profoundly incoherent comment, even by your standards.”
    “So maybe the “fat, lazy and greedy” US workers should work for one dollar an hour?”

    At least one of the above statements is incorrect. I would like to say both are, but you of course are entitled to your opinion.

    If you look again at my earlier comment you will look in vain for references to “fat, lazy and greedy US workers.”
    In reference to this particular subject I have consistently referred to greedy corporations and businesses that have outsourced jobs abroad, depriving American workers of jobs and dignity, and the American government of lawful taxes.