Sunday, December 14, 2008

Meyerson, The Fourth Idiot

When I posted earlier about the Big Three Idiots Writing For The Washington Post Writers Group, I wasn't aware of Harold Meyerson.
I am now aware of Harold Meyerson.
There are Four Big Idiots Writing For The Washington Post Writers Group.

This dishonor belongs to each of them on a rotating basis.

With Gods That Failed, Mr Meyerson takes his turn.

In attempting to assign blame for the current Financial Panic, and suffering from a bout of bombastic arrogance, delivered in the form of ignorance, Mr Meyerson lectures, "Today, conservative intellectuals might want to consider writing a tome on the failure of their own beloved deity, unregulated capitalism. Admit that the Reagan-Thatcher faith in unregulated capitalism, to which every GOP presidential candidate was pledging allegiance just last winter, has collapsed."

Okay, I missed out on two things, 1) all this unregulated capitalism, and 2) every GOP presidential candidate pledging allegiance to it.

True to form, Mr Meyerson complains of unregulation, or deregulation, without ever being specific.
He ignores the govrenment intervention of the Community Reinvestment Act, Fannie Mae, Freddie Mac, and presidents Clinton and Bush II pushing "affordable housing" goals.
How convenient.

Additionally, he seems to have missed the GOP candidate, John McCain, offering to buy up all those bad mortgages.

But, not content to get it wrong once, Mr Meyerson takes a limp swat at laissez faire economics.
"The doctrine of laissez faire has been so dominant, so pervasive over the past three decades...
Today's ideological crisis isn't confined merely to the doctrine of laissez faire."

Let's review:
Laissez Faire is a French term which, like all French terms, means, "We surrender, you'll find warm baugettes in the oven. Make yourselves at home."

Fortunately, it has an English definition, "Butt out! When I need your help, I'll vote Democratic."

Exactly how a Federal Reserve Bank, the dictates of the CRA, the criminal activities of Fannie Mae & Freddie, etc. equate to a laissez faire system in the big head of Mr Meyerson is a mystery.

Moreover,what he fails to realize is that conservatives and libertarians don't "worship at the altar of a laissez faire" system.

To endorse laissez faire is to reject the idea that a tiny collection of numbnuts-Congress, the White House-can adequately accomplish what a free people can.

So, Mr Meyerson gets it wrong, and manages to park himself nowhere near the truth.

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