Saturday, June 19, 2010

Yoga-nomics: Ayn Rand and our Market Meltdown

 How much did naïve sentiments color Greenspan's decisions as Fed chairman? (for the full story)
I figured out the problems with the Objectivist philosophy of Ayn Rand in my early 20's and am really stunned that our country was taken off course by this inconsistently logical dogma. Argh!
I subscribed to the Objectivist newsletter. I voted for Nixon based on Rand's endorsement. I thought about it all and came to the conclusion that there was too big a divide between the Ideology and the day to day living reality of what is. There, now I've said it...
A main thread running through this insane split in our country is over this issue. Do we trust the people running our Corporations, and to what degree. It's evident from the Tea Party gatherings that people are pissed about any regulations. Liberals, on the other hand, can't understand why good, orderly supervision is denied so vociferously.
Read Ayn Rand's novels to understand what is dividing our country these days. In spite of a mountain of evidence to the contrary, many are sticking to the rugged individualism espoused by Ayn. Come to your own conclusions about her philosophy and talk to others. This is a very serious time in our country, make no mistake.
We all have this idealism to deal with and it is a good thing. Integrity comes from this source. However, when it is misplaced and dogmatic it can only lead to the kinds of excess that we have seen in the past 3 years. 
Each and every one of us should be able to discuss our views on the role of government in our lives from a deep understanding of the underlying issues. It seems that Ayn Rand is a good starting place to delve into the reasons why so many citizens are today talking about exercising "Second Amendment Remedies."
Take this seriously. This debate and the actions that ensue are part of our history. And history, as we say, will repeat itself until it is understood.
"Greenspan's Fed looked the other way while essentially unregulated mortgage brokers churned out bad loans to dreamers, deadbeats, and suckers during the housing boom.
This is the problem in huge proportions. Greenspan's ideology led him to say this:

" and I will never agree about fraud," she remembered him saying. "You probably will always believe there should be laws against fraud, and I don't think there is any need for a law against fraud."
Greenspan... believed the market would take care of itself.