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IPFS News Link • B.O.R.G.

Obama's Regulation

• John Stossel

It’s a relief President Obama, in an Op-Ed in today's Wall Street Journal, acknowledges that the free market is “the greatest force for prosperity the world has ever known.”

It certainly is.

The President now says there are some rules “that are just plain dumb” and he’s going to “remove outdated regulations that stifle job creation.”  I hope he  means it.  But even if a president does want cutback, it won’t be easy.  Managing regulatory bureaucracy is like pushing string.  Regulators want to regulate.  Just last year, federal bureaucrats alone added 80,000 pages of brand new rules.

It’s intuitive to believe regulation protects us and makes commerce fairer.  I once believed that.  But then I became a consumer reporter and I watched regulation fail.  Now I know it almost always does more harm than good.

2 Comments in Response to

Comment by Don Duncan
Entered on:

Hey Red:

There are two "Americas". I grew up (born 1942) in an "America" which believed itself to be "the land of the free, and the home of the brave". We also believed we were spreading freedom around the world by example and intervention. We had the highest living standard which made us believe we had the best political/economic system. We were brainwashed in our public indoctrination centers to believe this. But the reality was that we were neither free nor brave. We were not brave because we did not have the courage to live a life free from control. We were afraid we could not defend ourselves or provide for ourselves without being forced into actions by a governing elite. We gave up our sovereignty for protection. This was not how we began. We began with distrust and contempt for gov. We believed gov could not be our primary protector and it so stupid to believe otherwise that to do so was reprehensible. This self reliant, individualist culture worked so well that we went from a third world agriculture economy to the most prosperous people in the world. We conceived of a new kind of gov, one which served us and was limited. We also conceived of a new business model; one which was free from gov regulation. It was called "The American Dream". It was a social experiment we could not realize. As time passed we lost our way. We are not alone. The rest of the  world is lost also. The principles which worked so well are forgotten or repudiated. We need to relearn, embrace, and protect them or face cultural extinction.

Comment by Lucky Red
Entered on:

I beg your pardon, I have to go and throw up my lunch now.  

When I say that Amerikans deserve what Amerikans will get this is what I'm talking about.  You have got to be the dumbest sons of bitches on the planet to be rooting for more deregulation after seeing what deregulation has done to your country.  Yes, that's right!  Wall Street was deregulated and look at the mess you are in and you've got the rest of the world in.  Still, you idiots don't learn do you?    You have to continue doing the bidding for your corporate masters and digging your own grave.  Well, good riddance!  Heavens knows nobody is gonna cry the day your empire burlesque collapses.  Just think, no more idiots with a direct connection from their brain to their mouths demanding their own demise.  No more Amerikan exceptionalism.  No more wars for oil. 

Shit, carry on!  Do some more of that self-deprecating propaganda you're doing.  And do it fast.  The world doesn't have that much more patience left after 100+ years of your homocidal shenanigans.