Liberty Maven

During Ron Paul’s Presidential campaign of 2008 I was fortunate enough to attend a PBS debate in Baltimore, MD and witness some of that that magical Ron Paul truth in person. Following the debate all the other candidates sauntered off the stage. Ron Paul immediately headed toward the audience where he was mobbed by his supporters for autographs and handshakes. A girl near me was having trouble breathing because she was so excited to “meet” Dr. Paul. Ron Paul had acheived rock star status.

I’m thinking of this now because it seems every time I read something from Robert Higgs I approach that same feeling. Higgs is a liberty rock star. In a recent article he annihilates the pro-regulatory power-grabbing bottom-feeders of our government.

Even if systemic risk does exist, why should anyone believe that the fakers and time-servers employed by a government regulatory agency will have the ability to gauge its magnitude and to identify the specific firms that must be eased away from the precipice—always, of course, at the great expense of taxpayers and holders of dollar-denominated assets?

Let’s be frank: systemic risk is the greatest—and perhaps the phoniest—excuse for unwarranted bailouts ever devised by the mind of man.

Read all of “Mommas, Don’t Let Your Babies Grow Up to Report on the Government’s Financial Reforms” by Robert Higgs. You’ll be glad you did.