Posted by: spickering | February 14, 2009

Political Journalists Have No Business Discussing Business

The Mclaughlin Group, long a favorite program of mine on Friday nights, really rocked when it talked about Iran and Foreign Relations, but once again it stunk up the joint when it talked about business or as wonks refer to it: “The Economy.” As if it were this thing, like a car or a body, that we have to ‘fix.’ These reporters and most reporters, presumably students of journalism schools, have NO BUSINESS TALKING ABOUT BUSINESS. OK, we’ll let Mort talk, but that’s it. I love Pat Buchanan on Foreign Policy but his understanding of economics is just nuts. Expecting China, for example, whose economy is 1/12th of ours in size to import from us as much as we do from they is just crazy. And also when he talks with such disdain about so called ‘Toyota’ Republicans in the South who have car plants there. This is unbelievable. He rails incessantly about losing jobs to China, but then he rails when a Japanese Company ‘creates’ jobs here? Where is the consistency in that? This way to the looney bin please.

And then a few weeks ago Mclaughlin himself said that, get this, Globalism itself, was the cause of our so called ‘Global Crisis.’ I almost fell off the couch. I wanted to throw the laptop at the TV. And then you hear incessantly on the TV talk shows of how “Lack of Regulation” caused this (When in truth it was regulation itself that caused ‘this’) that markets left ‘unchecked’ will cause chaos and so forth. The bottom line to this thinking is that Capitalism is somehow ‘flawed.’ This is akin to the Levantine religions, the three biggest religions in the world, paradigm that Nature herself is flawed and ‘nasty’ 

The economy isn’t a ‘thing’ that needs to be stimulated. It’s our day to day lives and activities, good old-fashioned ‘trading.’ It creates efficiencies, wealth, and higher standards of living through either an individual or a group of people who organize a company around providing specific goods and or services. Since they specialize and have ‘intent’ in a specific area, they get the Adam Smith ‘bump’ of higher productivity.  The more successful they are, the RICHER THEY GET, the more benefit they are providing to society. If you don’t believe that, then you don’t believe in the theory of Capitalism. It’s ok if you don’t, but please do not call yourself a Capitalist. The Government is the monkey wrench. It provides no value and gets in the way. It’s sole purpose is plunder. So the only way to ‘stimulate’ the economy if you want to call it that, is to get out of its way. But that’s not happening any time soon, especially in these next 4 years.



  1. Capitalism is perfect. So is communism. It’s people that suck. They mess up every great idea and “ism” by being greedy, dishonest and stupid. So we need police and courts and regulatory agencies with real power to stop the thrives, scammers, fraudsters, bankers and traders from ripping us and each other off. That task has not been done well in recent years due to the lack of a global regime for policing the bad guys. Anyone who blames one “ism” or another clearly doesn’t know much about people.

  2. Grazie x essere passato da me.n Ricambio il saluto. Torna a trovarmi presto!niHola! Click

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