5 thoughts on “Rand v. Krugman

  1. I’ve read quite a bit on objectivism and while

    the principles the ARC espouses while noble in

    the end the current objectivist scholars are

    apologists for the current corporate structures.

    Take this quote from “The Road to Fascism,

    October 16, 2008”: “regulations that pushed

    banks to become dangerously over-leveraged”.

    The meme that the CRA caused the credit crisis

    is a fallicy and that government regulations

    promoting home ownership played anything but a

    minor role are disingenuous.

    Contrast this with Krugman’s column proclaiming

    a resounding victory for a “new” New Deal with

    Obama’s election and one wonders if either is

    breathing the same oxygen the rest of us are.

    I know Obama is an intelligent man and have hope

    that he seizes this opportunity. I’m not saying he will, I’m saying he seems to have the ability to look past ideology.

    Americans want opportunities, not handouts. His overwhelming victory is a reflection that the majority of

    Americans have been allowed few opportunities

    under the cannibalistic form of capitalism of

    the past thirty years. Moreover we want

    leadership, something the past administration

    failed miserably to give us.

    Many of our corporations have forsaken solid

    business practices for quarterly profit

    statements attempting to increase stock price at

    all cost.

    On your blog how many times have I seen the
    quote (paraphrasing), “the chart tells the story.”

    IMO, The crux of the problem is We move our high paying jobs overseas to increase profits but sell most of these goods back home. I can’t be the only one that sees that if our income is approaching the point where we can’t afford to purchase the lower cost goods produced overseas we’ve got a big problem.

  2. So Frankie you look to the government to execute that vision? I do detect some level of passing the buck in your comments. I guess it would not be ‘cannibalistic capitalism’ (whatever that means exactly?) if all those people sold the speculative homes that they could not afford before the prices crashed?

  3. Mr. Covel,


    i have been reading everything you have been writing.

    very refreshing

    thanks, from a 21 year old kid who always is wanting to push the limits..

    Matthew J. Monday

  4. Call me a knuclehead if you want, but I think you should stick to trend trading.

    From a political perspective, I can see value in either argument, but IMHO you are going far afield.

    Is a recipe blog next?

  5. Frankie,

    I like that…Cannibalistic Capitalism…If the last thirty years were cannibalistic, then what were the early 1900’s? capitalistic “birthing pains”? When you refer to the crux of the problem I think what you meant to say is that shit happens, and we cant predict it, so people who do not protect against heavy drawdowns will get crushed. Yeah I think I saw that in your elegant and cogent argument.


    Thank you for your comment, try again next time.

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