"Why Would Politicians Allow The Free Market To Work And Expect To Be Re-elected?"

Tyler Durden's picture




 

Between discussions of gold-backed debt issuance in Europe (from Rick Santelli) and why Europe's problem is not merely a banking crisis but far worse (with the need for large-scale default and deleveraging as opposed to constant political intervention to makes things worse - quoting our earlier note on Italy's insanity), Michael Pento asks, rhetorically we pre-supposed: "What is wrong with letting the free markets work here? Let's let what is going to happen, happen!" But Bill Griffeth provides the truth-quote-of-the-day (in a stunning kimono-opening for the CNBC-watching public at large) when he opines on Pento's question that "There is not a single politician who hopes to let the free markets work and be reelected."

Indeed - as Santelli adds: "You Nailed It!"

 

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Tue, 06/12/2012 - 17:03 | 2519530 FL_Conservative
FL_Conservative's picture

There's too much left to CHANCE in FREE markets.

Tue, 06/12/2012 - 17:11 | 2519567 Aziz
Aziz's picture

I'd put it that there's too much TRUTH in free markets.

Tue, 06/12/2012 - 17:48 | 2519677 CvlDobd
CvlDobd's picture

Can anyone recommend a good law firm for securities, banking, and most importantly theft of assets.

I'm serious thanks. I'm in the south east if it helps.

Sorry to hi jack the thread but I'm serious.

Much obliged.

Tue, 06/12/2012 - 18:05 | 2519718 MachoMan
MachoMan's picture

I'm pretty sure all the top shelf talent is already running full speed...  they'll now be on the defensive as their handywork comes under court scrutiny and the general equities involved (as well as the jury pools) aren't to fond of large financial institutions...  and hope that they are not in any way implicated...

Tue, 06/12/2012 - 18:15 | 2519732 I am a Man I am...
I am a Man I am Forty's picture

You may want to use someone in the area that the theft occurred, especially if you if you have to go through FINRA arbitration.  I know someone who won a pretty big lawsuit against a large financial firm, huge law firm, and ivy league professor, not in your area though.  If you have a solid case you can win.   

http://www.stockmarketattorney.com/

http://www.huffingtonpost.com/2012/02/01/bobby-hayes-merrill-lynch_n_124...

 

 

 

 

 

Tue, 06/12/2012 - 18:59 | 2519861 CvlDobd
CvlDobd's picture

Thanks friendo.

Tue, 06/12/2012 - 18:54 | 2519847 disabledvet
disabledvet's picture

Who was that running for President guy from North Carolina who had the hung jury? Try that guy.

Tue, 06/12/2012 - 19:02 | 2519870 TrainWreck1
TrainWreck1's picture

the Breck ex-Senator is preparing a $100 hajillion dollar suit for defamation of character against everyone that ever gave him the hairy eye.

 

Tue, 06/12/2012 - 19:04 | 2519878 Dr. Engali
Dr. Engali's picture

+1 that's funny.

Tue, 06/12/2012 - 18:59 | 2519859 I am a Man I am...
I am a Man I am Forty's picture

And this guy is a great consultant that specializes in securities litigation.  You need him to prove the other guys wrong and make them look stupid in the process.

 

http://www.slcg.com/resumes.php?c=1b&i=10

Tue, 06/12/2012 - 20:46 | 2520060 b-rad-is-rad
b-rad-is-rad's picture

Miami South East? Sent you a contact request

Tue, 06/12/2012 - 17:14 | 2519573 ArkansasAngie
ArkansasAngie's picture

Nope ... missed it ... They are convinced that the sheeple will want to explain moral hazard to those currently in office when their ponzi is made visible for all to see

Tue, 06/12/2012 - 17:18 | 2519575 nope-1004
nope-1004's picture

Pardon my ignorance, as I have only been trading for 20 years, but....  

What is a "free market"?

 

Tue, 06/12/2012 - 17:30 | 2519620 SHEEPFUKKER
SHEEPFUKKER's picture

No worries, let me help. It's a market where the banksters steal all of your fiat wealth for free. 

Tue, 06/12/2012 - 17:41 | 2519643 Dr. Engali
Dr. Engali's picture

A free market is where two or more people can exchange goods and services at an agreed upon price with no outside interference.
Probably the closest thing left to a free market is a garage sale, and they are coming after them too.

Tue, 06/12/2012 - 17:47 | 2519685 ich1baN
ich1baN's picture

Well, there was that time when you could sell lemonade on the side of the street  in exchange for cash. But, that is culminating and igniting greed in minds to young to understand what markets are about.

Tue, 06/12/2012 - 17:58 | 2519707 Bohm Squad
Bohm Squad's picture

You can still do lemonade stands given one has the proper permits, collects sales tax, performs OSHA inspections and ensures employees have the legal right to work.

Tue, 06/12/2012 - 19:04 | 2519876 Roger O. Thornhill
Roger O. Thornhill's picture

When a free market dies - as it is doing, there will arise a 'secret' free market. The government, of course, calls those 'black markets.'

They hate markets where they can't fleece the citizenry.

Tue, 06/12/2012 - 20:04 | 2519988 Bollixed
Bollixed's picture

Where's MDB with his need for mandated public sanitation (restrooms) next to lemonade stands but far enough away to strike the critical balance between government perfection and human calamity.

And badges. Give those lemonade girls badges. We need government badges to keep the streets safe from marauding bands of lemonade pushers and other potential predators siphoning off money that should rightfully go into city coffers where it actually has a chance at fostering more government services. </sarc>

Tue, 06/12/2012 - 21:29 | 2520124 EINSILVERGUY
EINSILVERGUY's picture

Badges?  They don't need no stinking badges

Tue, 06/12/2012 - 17:54 | 2519699 Satan
Satan's picture

Kinda like a flea market?

Tue, 06/12/2012 - 17:59 | 2519712 MachoMan
MachoMan's picture

actually, flea markets can exist in perpetuity...  free markets are but a sparkle in the eye of time.

Tue, 06/12/2012 - 18:50 | 2519837 batterycharged
batterycharged's picture

Yes, a garage sale is an excellent example.

And communism is where everyone shares, gives what they can and takes what they need. A good example of communism is your household.

Funny how this fantasy bullshit only works on a small scale, ain't it?

Tue, 06/12/2012 - 22:55 | 2520260 0z
0z's picture

You could make the argument to the contrary. Never seen any kid get away with taking daddys wallet to the mall.

Tue, 06/12/2012 - 19:13 | 2519891 Maos Dog
Tue, 06/12/2012 - 17:49 | 2519689 MachoMan
MachoMan's picture

That timespan before someone gains a competitive advantage in a particular market and then exploits all resources to ensure barriers to entry guaranty a monopoly.  Generally speaking, the larger the government, the larger the pool of "resources."

Tue, 06/12/2012 - 17:51 | 2519693 lemonobrien
lemonobrien's picture

"free" to get taken.

Tue, 06/12/2012 - 18:07 | 2519728 narnia
narnia's picture

I'm not sure a free market in politics would include term limits

Tue, 06/12/2012 - 18:39 | 2519817 AldoHux_IV
AldoHux_IV's picture

+1

The free market is like democracy-- ideals that don't exist and we can blame central banks and politicians, but we should also blame ourselves for allowing things to continue as they do.

Here's a solution to the cnbc comment: term limits.

Tue, 06/12/2012 - 22:59 | 2520268 0z
0z's picture

Free market inevitably leads to the absence of a "public sector". Companies would have to provide protection and legislatures. Democracy is capitalism, only one votes every day with his wallet.

Tue, 06/12/2012 - 17:19 | 2519594 financial apoca...
financial apocalyptic contagion's picture

Bill Griffeth and CNBC will now "mutually part ways"

Tue, 06/12/2012 - 17:34 | 2519635 lordbyroniv
lordbyroniv's picture

I fully get the Reign of Terror and demand for blood that came with the French Revolution.

 

After you guillotine the upper echelon....I think people will want to go after the lower levels too.

 

That is,..the "Marias and Bill Griffiths".

 

Anyone catch Bob Pisani making the case for taxes on real property in discussing the North Dakota legislation?  MAD PROPS to John Carney for stating taxes on real property are IMMORAL.

Tue, 06/12/2012 - 17:47 | 2519678 MeBizarro
MeBizarro's picture

I guess that almost every gov't in history then is IMMORAL then.  More nonsense. 

Tue, 06/12/2012 - 18:47 | 2519827 Al Gorerhythm
Al Gorerhythm's picture

Your first sentence has you on the right path. Just change your caps lock so that the emphasis is placed on the the word "IS". You once again highlight the accuracy of choice of pseudonym.

Tue, 06/12/2012 - 17:47 | 2519683 ArrestBobRubin
ArrestBobRubin's picture

Ya mean Bob Piss Anty?

Tue, 06/12/2012 - 17:59 | 2519710 Beam Me Up Scotty
Beam Me Up Scotty's picture

You get to think you own your property as long as you pay the government it's rent every year.

Tue, 06/12/2012 - 22:45 | 2520245 0z
0z's picture

How so?

Tue, 06/12/2012 - 17:05 | 2519539 theTribster
theTribster's picture

Love Ricky from ChiTown....

Tue, 06/12/2012 - 17:07 | 2519542 CommunityStandard
CommunityStandard's picture

This might be the fundamental flaw in a democratic government.  Keep the markets up and bail out the banks, and the banksters give you money for your elections.  Keep the "bread and circuses" flowing, and the population votes you in.  It'll continue until it can no longer sustain itself.  Revolution.  Reconstitution.  Then the cycle starts again.

Tue, 06/12/2012 - 17:21 | 2519600 narapoiddyslexia
narapoiddyslexia's picture

Republics decline into democracies and democracies degenerate into despotisms - Aristotle

 


Tue, 06/12/2012 - 18:24 | 2519781 Poor Grogman
Poor Grogman's picture

Not an encouraging quote from the old fossil.

What I need is some SOLUTIONS, not more problems...

Tue, 06/12/2012 - 20:45 | 2520056 mkhs
mkhs's picture

A good solution is one part gin, ice and a drop of vermouth.

Tue, 06/12/2012 - 18:49 | 2519835 Al Gorerhythm
Al Gorerhythm's picture

I would have thought that this might be the fundamental flaw in a fascist government.

Tue, 06/12/2012 - 23:25 | 2520298 JeffB
JeffB's picture

I think a democracy is a lot like a garden. You have to keep working at it. If you get lazy the weeds begin to take over.

Thomas Jefferson had it right, that central banking is a great evil and a scourge on society. James Madison and Andrew Jackson also realized it.

We messed up when we let the banksters get their way and foist the Federal Reserve on our nation. The Federal Reserve, aka The Creature from Jekyll Island has caused a lot of grief since it's inception December 23rd, 1913:

The Fed – Report Card  after 80 years of “stabilizing the economy”, G. Edward Griffin:

Crashes
1921
1929
29-39 The Great Depression

Recessions
53
57
69
75
81

Stock Market Black Monday  87

Greater Debt

Corporate
Personal greater than ever

Bankruptcies business and personal

Banks & Savings & Loans  - failed at a greater rate than ever in our history

Dot.com bubble

Housing bubble

"The Great Recession" - still in progress...

 

Tue, 06/12/2012 - 17:06 | 2519543 Newsboy
Newsboy's picture

It all depends on how you define "free".

William Jefferson Clinton

Tue, 06/12/2012 - 17:07 | 2519553 LongSoupLine
LongSoupLine's picture

"A cigar is not just a cigar"

Tue, 06/12/2012 - 18:07 | 2519725 BlackholeDivestment
BlackholeDivestment's picture

Newsboy, ''you'' hit the nail on the head.

The fact is the definition of freedom is in the image of ''those persons'' that ''do not care'' for human life, so long as the whole of ''their own'' short term ''gain'' is met, which this market defines at the expense of life, labor and freedom, rather than growth above the debt that secures the scum of the Earth.

So here we all stand, subject to the lawless scumbags. We continue to allow and accept ''their'' number(s), which represent ''their account'' against all of us. We have continued to accept ''their'' corrupt system, which has now brought us to the valley of decision and we still remain in contempt, having not been move to restore order. 

The so called solutions that are being offered, and that will rise out of this current crop of Tares, overcame the market and has subjected labor to the loss of principle because the Tares are nothing more than crop killers that only feed themselves. Every time we show up for work now, and every time we buy sell and trade this market, we place the mark of contempt upon ourselves and are sealed to judgment. 

It is time for judgment to come in fullness, let it come quickly, and let the end of this pathetic war against ourselves end.

 

Tue, 06/12/2012 - 18:49 | 2519832 GernB
GernB's picture

There's a universe of difference between making laws to protect people from infringing on other people's rights, including their right to life liberty and property, and making laws to protect people from anything bad that can ever happen to them or any stupid decisions they might make. Freedom comes with limits, and in this country they used to be fairly clear, you can't kill people (infringe their right to life), kidnap them or unjustly improson them (infringe on their liberty), steal from them, swindle them, or tell them they can't use their land without compensating them for it (infringing their right to property).

Corporations must live by the same laws. Free markets are only free to the extent you do not infringe on someone elses rights, destroy their property, directly or indirectly steal their wealth, etc. The system is corrupt because the more we try to remove consequences and replace them with regulations and laws the more opportunity there is for those with influence to bend those rules and regulations to their advantage, free from the normal consequences of their own actions. It's so warped people's perspective that they don't lilke freedom any more because they've come to associate it with host of wrongs that government and corporations engage in that infringe on people's rights.

Tue, 06/12/2012 - 23:30 | 2520325 JeffB
JeffB's picture

Well said GernB!

 

Wed, 06/13/2012 - 03:34 | 2520640 AnAnonymous
AnAnonymous's picture

Freedom comes with limits, and in this country they used to be fairly clear, you can't kill people (infringe their right to life), kidnap them or unjustly improson them (infringe on their liberty), steal from them, swindle them, or tell them they can't use their land without compensating them for it (infringing their right to property).

____________________________

And they were clear, fairly clear when? When US citizens were busy stealing an entire continent?

US citizenism has not changed. it is the same as before. You are just slipping on the wrong side of it.

Bear with it.

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