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What Are Markets For?

Started by cordblomquist · 9 months ago

There are all sorts of people today who normally talk about free markets but who have got themselves into a tizzy over the failed bailout. We need to get one thing straight - the bailout was the wrong answer to the wrong question. To begin with, the plan was merely postponing the inevitable, % ... Continue reading »

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  • “The surface of American society is covered with a layer of democratic paint, but from time to time one can see the old aristocratic colors breaking through.” The great French political philosopher, Alexis de Tocqueville, uttered these words several decades ago. Although this quote is decades old, it’s been ringing nationwide during this election period. In this case, we have elected or support officials who, for some reason or another, at least claim to believe that cash advances are damaging to the American people. Some have even blown the top off by proposing measures that will wipe out the entire industry in certain states. Ohio’s man in power, Governor Ted Strickland, is one of these people whose new law, if passed, will knock out the whole industry and leave about 6,000 of his people unemployed. What’s worse is that both Presidential candidates, Barack Obama and John McCain, supported a bill that ultimately prohibited payday loans to military personnel. Obama, for instance, has come out in support of measures that will make it nearly impossible for short-term lenders to function, as any business should. Let’s just pray those aristocratic colors remain compact as we fight for the good fate of payday loans. Let’s fight for our financial freedom.
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