Reflexivity… smeshivity

I  have never heard a more turgid, convoluted, constipated, pointless, useless description of the dynamics associated with the denouement of a simple Ponzi scheme than George Soros’ effort here at ft.com.

This closet simple-minded socialist argues free markets don’t work because they don’t tend towards equilibrium. Free markets would be stable if the market in money was freeOnly an idiot would consider the “markets” today free.  In the late, dying, cancerous stages of debt-based quasi-fascist capitalism, it’s Socialism in Reverse.  or Socialism for the Rich and Capitalism for the Poor.

You simply cannot support central banking, and the current monetary system, whilst supposedly supporting “free market capitalism”.  The markets haven’t been free since at least Aug 15, 1971.  To argue that free markets caused the crisis!  LOL!

He talks about the “free market” panics of 1982, 1987, 1989-1994, 1997-98, 2000 and 2008-09.

He never refers to Aug 15, 1971. He never talks about central bank policies. He never talks about how the market in money is not free. He never talks about the fact that his pathetic “non-theory” of reflexivity is just a cheap rip-off of ABCT. He never talks about von Mises or Rothbard or Fekete or North. He never talks about gold as money and paper as inevitably turning to crap. He never talks about John Law and paper money. He never talks about the destructive quality of FRB. He never talks about central banking.

The guy is a “genteel” socialist zealot. Egotistical, raving about the “dangers” of “market fundamentalism” (where is the “free market” in this fascist central bank-dominated Hell Hole?!?). As stupid as Keynes, or Krugman.

He wants more regulation (margin requirements and minimum capital requirements). Like we didn’t have too much regulation and central banking before?

He never calls for a free market in money production and never attacks the Fed as the heart of the madness. He talks about improving a failed model.

His heart is as black as Krugman’s. If this is all he’s got after a lifetime of “study” then his intellectual horsepower is about as impressive as a little Vespa.

Put put put…grab a bit of von Mises without mentioning gold, put put put… grab a bit of Rothbard without mentioning central banking, put put put…. grab a bit of Minsky without mentioning the word “Ponzi” or “pyramid”, put put put….grab a bit of ABCT without referring to FRB.

Reflexivity is non-verifiable rubbish. “Positive feedback” can continue – but it can also be interrupted. Bubbles can be tested, sometimes they continue and sometimes they don’t. A dumber non-theory I have not found.

Why am I so angry?  Because, despite being so stupid, he’s there influencing world policy and I’m here, not.

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