Myopia

thedo — Fri, 26 Sep 2008 23:10:00 GMT

\mī-ˈō-pē-ə\ — a lack of foresight or discernment; a narrow view of something

The movie 'Blindness' is in theaters this weekend and I've always found it an interesting story, since it was first a novel. I'm not writing this post to debate the socialistic tendencies of the story's narrative or how epidemics would be better handled in a libertarian society. I only wish to address, at this point, the inability of many people to see far into the future. I thought of this as I heard someone talk about a takeover of WaMu, to which they lamented, "no end seems to be in sight," that another company had, essentially, failed.

Only in this time of "crisis" can the adequately educated on the Austrian theory of the business cycle see the end. The rest simply bleat with myopia, a herd of sheep bumping into each other waiting for the sheepherder, the government, to do something that they can see narrowly before their face. The words of the Austrian school of economics must be spread, and people must know that the end is in sight but will only be visible when the government stops blocking the view with bailouts.

When Words Disappear

thedo — Mon, 08 Sep 2008 22:49:00 GMT

It's always interesting to watch how a society's vernacular changes, to see new words added and old words subtracted. Additions bring the most fuss (see: text messaging). Subtractions often slip by the way side. The most striking example, today, is the word 'SOCIALISM'. As in, while the government bails out and consumes Fannie Mae and Freddie Mac, who oversee over 70% of the housing market, few in the mainstream refer to this act as socialism, which it nearly well is.

The questions posed by commentators concern how much taxpayers will pay and what the future looks like for the housing market. Never is the question 'Is the United States moving toward socialism?' which is a serious question.

The economic hilarity of the situation is striking and shows a clear economic ignorance. If the government is bailing out the housing market (i.e., paying for their debts), how will the average tax paying American not pay for part of the bill? The government's coffer is staffed only by what it takes in from taxes. That is, you pay what the government pays.

Disappearing words are like those neighbors who move out in the night. They slip away unnoticed until one day an event happens that prompts someone to ask, 'Whatever happened to such-and-such?' When the U.S. government assumes over 70% of a market and achieves the biggest government intervention in too many years to recount is such an event.

Apropos Austrian Aphorisms : bail out

Myopia

When Words Disappear