Dylan Ratigan Challenges The Current Beltway Definition Of “Free Market”

Dylan Ratigan has a interesting essay in the Huffington Post. As is usual with his writing, the indignation boils over. I find this very pleasing. My indignation boils over from time to time. I have long been struck by the beltway commentator constant refrain, “free market.” It is used over and over as a cure for every economic malady. I can’t help but believe they don’t know the subject. Little industrial or financial business in the United States can be considered free market in any traditional sense: Our agricultural products are heavily subsidized; our financial industry is favored by a host of friendly laws as well as being able to borrow money from the Federal Reserve at zero percent interest.

What’s free market about any of that?

Here’s a quote from Ratigan’s essay –
Here we find ourselves today in a similar situation, where six industries have a stranglehold over Washington. And the draining of our current and future wealth will only continue as both the media and the political class not only tolerates but spreads the phrase “free market” when the reality doesn’t match the rhetoric.

Our politicians continue to take money from massive corporations to subsidize them in a rigged marketplace that only cares about protecting the incumbent structure. At the same time, the American people are drowning in a red sea of debt caused by perpetuating banking, health care, energy and defense systems that are expensive, ineffective and protected from competition.

So I have a challenge for those so-called free market Republicans who rode a wave of voter discontent into Washington. I challenge you to end massive corporate subsidies. To end tax loopholes. And to end rigged trade with China and release the true power of free markets.

This can no longer be simply a talking point to win votes. Because this broken system is not only costing American jobs… it’s costing us the very prosperity and freedoms that this country was founded on.

If we actually had an intelligent discussion about the economic future of this nation, the great mass of citizens would benefit. The kind of “single phrase” thinking currently in vogue only benefits the status quo. We can’t begin to address these issues until the appearance of intelligent thought is replaced by the real thing.

Fewer slogans, more thinking.

James Pilant

Chinese Slaves, Robot Shareholders And Bankers Who Gamble With Taxpayer Money

A quote from Dylan Ratigan

“For me, there was a radical break in September 2008. You couldn’t look at the system,–both its collapse and why it was collapsing– as anything that lived up to what I thought it should. It’s all predators. The economy is built around Chinese slaves, robot shareholders and bankers who gamble with taxpayer money. That doesn’t work.”

This quote is from an article on Alternet.

And this is the concluding quote from the article concerning his opinion on the continuing New Depression.

“There are no jobs, my man! Where are the jobs? People won’t stand for this forever.”

Dylan Ratigan – Why Is He Angry?

“The fundamental problem right now is that you have conflict resolution, or problem resolution, that is predicated on bad motivations, where politicians are trying to keep their jobs with the strategy of explaining to everybody why everything is fine, no matter what…What if your economic plan—where you monetize the entire future with no money and create a giant credit casino—doesn’t work? No plan! Oh, OK—so that means we’re going to spend a few extra trillion and do no reform? Interesting concept, my politician friends!”

That’s exactly what I think. We are witnessing a fundamental failure of the leaders of this country to deal with continuing financial incompetence of Wall Street. They seem to live in a world where devotion to contributions and the next election trump all considerations of patriotism and national interests.

(The quote is from an article by Lloyd Grove in The Daily Beast.)

James Pilant