Geolibertarian:
On issue after issue, Austrian Schoolers try desperately to mold reality so that it conforms to their half-baked theories instead of the other way around, and then, in their usual arrogant fashion, hypocritically project this irrational tendency onto any informed critic who dares to call them on it.
One illustration of this is their dogmatic view of government "intervention" in the marketplace. If one is to avoid being charged with heresy by self-appointed Thought Police from the Austrian School, it is simply not enough to say that "most" government regulations are bad or unnecessary. No, no, one must openly believe with utter conviction that all government regulations are bad and evil by definition.
Nowhere is this blind devotion to ideological dogma more evident than in the case of derivatives. As most listeners of Alex's show have probably figured out by now, the financial meltdown of 2008/2009 had far more to do with the quadrillion-dollar derivatives bubble than it did with the comparatively miniscule subprime mortgage bubble. Yet, in the articles they write concerning the financial crisis, Austrian School commentators rarely (if ever) even mention the word derivatives, let alone acknowledge the primary causative role they played.
Why?
Because doing so would draw unwanted attention to the fact that Wall Street casino gamblers could never have created the derivatives bubble in the first place had the Glass-Steagall Act -- a form of (gasp!) "government intervention" -- not been repealed in 1999. And since Austrian Schoolers have so much of their precious egos invested in the baseless presumption that all government regulations are bad (not just most), it's impossible for them to admit that the repeal of a particular regulation could possibly have caused far more harm than good, even when the facts overwhelmingly show that it did.
This, I'm now convinced, is why Austrian School reactionaries scoff even at the idea of election reform: because they've allowed themselves to be brainwashed (as cult members are prone to do) into believing that a total collapse of the entire U.S. economy -- and hence of America itself! -- is not only inevitable, but desirable; and that anything that gets in the way of this collapse is therefore a bad thing, not a good thing.
Why?
Simple. Because, just as socialists perceive "the State" as a mystical, God-like entity existing independently of the people who compose it, Austrian Schoolers have a similar conception of the "free market," as evidenced by this quasi-religious notion they incessantly promote that, following said collapse, a mystical, God-like entity euphemistically known as the "free market" will magically rise like a phoenix from the ashes of our destroyed nation, give birth to a gold-based money system, and all will be well with the world.
The NWO promotes "order" out of chaos; the Austrian School promotes economic revival and stability out of chaos. Either way you're dealing with a glorified cult that tries to sell people on the insane idea that "chaos" is a legitimate and effective means of achieving a desirable socioeconomic goal.
It is for this reason that I respectfully call once again on all thinking members of the anti-NWO/pro-America movement to stop letting Austrian School cultists portray themselves as the divine gatekeepers of any and all things having to do with "liberty," "property" and "free enterprise."
Just as we must defend America from those who would destroy it in the name of the NWO, we must defend it against those who would -- by deliberate omission, and in the name of the "free market" -- knowingly allow America to be destroyed by an otherwise solvable economic and political crisis.
http://forum.prisonplanet.com/index.php?topic=166935.0;wap2
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