One Man With The Power To Make Markets Jump And Dive: Proof Of Government Control

What is a clear indication that you don’t live with free markets? One is that when a bureaucrat speaks it has a huge impact on the value of the stock market, in either direction. From the Bloomberg editors: “Explain Yourself, Ben.” One day soon, perhaps at its meeting this week, the Federal Reserve will decide to curtail monthly bond purchases aimed at reviving the U.S. economy. When it does, it had better be careful with the message it sends to markets. […] If the Fed starts to taper Read more […]

Government Accuses Markets Of Inefficiency, While Burning Money

One of the most painful parts of the Obamasnare campaign (an area with lots of competition for first place) was Obama claiming that that the market was not efficient. It needed to be updated. All medical records needed to be digitized (the NSA completely approved of that idea), etc. Because information is imperfect, and for other reasons, it is completely possible to find inefficiencies in the market. But fixing those problems is often difficult. Those who do it successfully are commonly called Read more […]

Congress can only “create” regulation

Alex Marshall believes that governments create economic markets. He says so here. What is so very wrong with this belief is that it empowers government far beyond anything it was ever intended to have. The word “market” doesn’t appear anywhere in the Constitution, and “commerce” only appears twice—in Article I, Sections 8 and 9. To say that government creates markets, one would expect at least a shout out to the Constitution, but other than a passing reference to the 14th Amendment (naturalized Read more […]