Wednesday, September 24, 2008

Ron Paul's Bailout Criticism: Illiquid Assets Are Illiquid For A Reason (VIDEO)

Story is here.

The problem with Libertarians such as Paul, just as with Marxists, is that their ideology has some good ideas in them that just about anyone can agree with. They both want, at the end of the day, government to disappear and have it replaced by an informed self-sacrificing community whose members act wisely to ensure that everyone has both the necessities to get through life nicely and with the greatest personal freedom.

Unfortunately, as with all utopian schemes, they require perfect people to make it work and thus is the root of the failures of both Libertarianism and Marxism, not taking into account the peculiarities and foibles of human nature that undercut those schemes, much less demagogues who hijack it in the name of their own megalomania.

So while I applaud Paul for his fiscal conservatism in many instances and his unwillingness to fight the Iraq War, it is also a good thing that he doesn't have a shot at being president. We need reality based pragmatists, not ideologues.

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