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Financial Times Editor Displays Ignorance of All Things Financial On “Morning Joe”

November 10, 2009

What's the world coming to when a Financial Times editor displays a gross ignorance of this guy's ideas?

On MSNBC‘s “Morning Joe”  yesterday, hosts Mika Brzezinski and Joe Scarborough, and guests Steve Forbes (owner of Forbes magazine) and Financial Times editor Chrystia Freeland, debated the question of whether the health care system as it is needs more or less capitalism.  Scarborough and Forbes argued the affirmative, Freeland and Brzezinski disagreed.

What struck me about the exchange was Freeland’s apparent lack of understanding of capitalism and the basic ideas behind the free market. You would expect an editor of the Financial Times to understand these things, but I’m afraid she does not.

That much became clear when she said that although she believes that “capitalism is the best way to do very many things,” she thinks  it could only be “the best way” to run the health care system, “if everybody was rich” and we were living in “some kind of capitalist utopia.”

It was a remark you would expect from Arianna Huffington, founder of the Huffington Post, not from an editor of one of the most respected financial dailies in the world. Freeland, you would think, should be capable of understanding that free market-thinkers believe that the costs of health care will go down at the moment the government pulls out of the system. More competition should not merely increase the quality of health care, but also its quantity.

Let us hope Freeland will buy herself a copy of Milton Friedman’s classic Capitalism and Freedom or of economist and bestselling author John Lott’s Freedomnomics: Why the Free Market Works and Other Half-baked Theories Don’t.

If not, perhaps she might resign from her post at the Financial Times and join Huffington’s rag instead.

  1. Jack Hampton permalink
    November 10, 2009 1:07 pm

    It is stunning I now realize that the 4K required to run our house each month we can now spend 8K and save money I told her we have been doing it wrong all these years

  2. Wingnut permalink
    November 10, 2009 2:05 pm


    Author… you DO see the pyramid scheme symbol on the back of the USA one dollar bill, right? You DO see the servitude infestation in capitalism, right? And do you see the “pay up or lose your wellbeing” Chicago mob-like felony extortion widespread within capitalism? Do you see the “join or starve” felony extortion done to the 18 year olds… by this ugly competer’s church called capitalism? See how forcing competer’s religions onto 18 year olds… kills membership in the cooperator’s church (Christianity/socialism)?? Do you understand that AmWay (American Way) (New World Order) got “the exclusive” (legal tender) on the TYPE of survival coupons (money) accepted in supply depots (stores) and leverages 18 year olds into the organization via that felony activity as well? (It puts AmWay-coupon slaving requirements called price tags… on all the survival goods). Do you understand how farmyard pyramids work… from your childhood?? Remember?? Upper 1/3 are “heads in the clouds” while the kids on the bottom ALWAYS GET HURT from the weight of the world’s knees in their backs? Still with me? Do you see anything illegal, immoral, or just plain sick… in any of this pyramid scheme’s activities?

    Us American Christian socialists are still patiently awaiting the natural fall of the pyramid-o-servitude, or the busting of the free marketeers felony… by the USA Dept of Justice. Us Christians are VERY CLOSE to issuing a cease and desist order until the servitude and inequality goes away… which means it turns into a commune. Commune is a word we LOVE when used in the word “community”… but its one the caps HATE when used in the term “commune-ism”. Go fig. PROGRAMMED!!

    Do a Google IMAGE SEARCH for ‘pyramid of capitalist’ to see a full color picture made way back in 1911, when capitalism was first discovered to be a con/sham instigated by the Free Masons/Illuminati. Folks sure bought into the thing… hook, line, and sinker just the same. The caps didn’t even check if a string was attached! Now THAT’S easy fishing, eh?

    Time to level the felony pyramid scheme called capitalism. Abolish economies and ownershipism worldwide, and hurry. Economies just cause rat-racing, and rat-racing causes felony pyramiding. BUST IT, America! Look to the USA military supply/survival system… (and the USA public library system) for socialism and morals done right. Equal, owner-less, money-less, bill-less, timecard-less, and concerned with growth of value-criteria OTHER THAN money-value. Quit doing monetary discrimination immediately, and make it illegal. There are MANY measurement criteria of “value”… not just dollars. Try morals, efficiency, discrimination-levels, repairability, etc etc. Economies are cancerous tumors, and to cheer for their growth… is just insane. Profiting causes inflation, so if caps LIKE inflation, and if they LIKE a terrible time in afterlife when they meet the planet’s ORIGINAL OWNER before caps tried to squat it all with ownershipism, then keep it up with the felony pyramiding. I dare you. While us Christians are finally bulldozing that pyramid scheme back to level, lets make servitude and “join or starve” (get a job or die) illegal in the USA, and lets level the architecture seen in USA courtrooms, too. Right now, USA courtrooms are church simulators or “fear chambers”, by special design. Sick.

    Isn’t that back-of-the-dollar pyramid… a Columbian freemason symbol? And WHERE is the USA gov located? District of Columbia? (Not even part of the USA!). How much more blatant can ya get? The “Fed” runs a pyramid scheme called the free marketeers. If you’re using the “federal reserve note” certificates, or using no-other-living-thing-on-the-planet entitles of ownership, you’re bought into a servitude/slavery con/sham… called capitalism. Pyramiding 101.

    Larry “Wingnut” Wendlandt
    MaStars – Mothers Against Stuff That Ain’t Right
    Bessemer MI USA

    • In the Know permalink
      November 11, 2009 9:02 am


      Remember that show in the 80’s, “Another World”? That family that was transported to an alternatre reality where “people” were really androids? The “all see eye” of the illuminati was shown transporting them between dimensions also. I’ll bet that show was an illuminati plot to lull the American population into accepting the New World Order. Now, using pyramiding and backwards masking, If you listen to Lady Gaga’s “poker face” backwards it say’s ” ecafrekopapapap” repeatedly. Little known fact, ” ecafrekopapapap” is ancient aramaic, translated, it means “follow the yellow brick road”. It’s so OBVIOUS! Lady Gaga is part of the illuminati, they are telling you capitalists that you must buy gold! The Bilderbergers control the gold supply, you are all slaves!!!It’s so obvious…..

      Now, that doesn’t sound just as insane, does it?

  3. Cynthia Thornburg permalink
    November 10, 2009 2:26 pm

    Wingnut is right! About their name.

  4. John Davidson permalink
    November 10, 2009 3:31 pm

    There are a lot of thinker about who have never had to work a day in their life, yet their experts. Most of them are employed in Washington and can’t even add or substract.

    • November 10, 2009 5:53 pm

      If only you valued spelling as much as you value “add or substract.”

      (PS. I almost didn’t reply to this… it seems like it could be a joke.)

      • Wingnut permalink
        November 11, 2009 3:48 am

        🙂 Yeah, I understand where you’re coming from, dh. There were a ton of mistakes in that comment, from wrong words, to spelling, to sentence structure. A definite possibility of a pot calling a kettle black. (I’m really not much better myself, though. I use run-ons and I am an elipse junkie.

        Admin, your blog’s comment entry fields… (name, email, website, comments) haven’t been styled. If a user is running white text in their browser preferences, people are typing white text into white backgrounded entry fields (not good). You probably need the INPUT elements styled, or their styles adjusted.

        I source-viewed the raw html for the comment form, and all the INPUT elements have class=”text-input”. So, it would help us white texters if you would add some (dark) text color to that stylerule.

        In your/the wordpress CSS file named…

        A paste to a wordpad and a search for input-text” finds this… (de-squished version)

        input.text-input, form#commentform textarea {
        padding: 7px 3px;
        background: #F4F4F4;
        font-family: inherit;
        border: 2px solid #acacac;
        border-bottom: 1px solid #ccc;
        border-right: 1px solid #ccc;
        width: 591px;

        If you or the theme makers would add the following to the pile of things between the braces…

        color: #000000;

        …stuff would start working correctly. Also, width: 591px;… is really old school. Nobody hard-sizes things like that anymore… too many palmtops with narrow screen-rez. Modern CSS/W3C compliance would dictate that one should use something like 75% instead of 591px. Percentages cover ALL screen resolutions… from the biggest plasma monitors to the tiniest cellphone screen. Thanks. Peace! Btw, 4 thumbs-down TURNS ME ON, friends. 🙂

        • Wingnut permalink
          November 11, 2009 4:11 am

          Correction: After pasting to a wordpad/notepad, search for “text-input” (not “input-text”). Sorry, not awake yet.

      • In the Know permalink
        November 11, 2009 9:20 am

        What a sad comment. Very Failblog. Attacking typos? Bad show. And Wingnut? Seriously? Google this…Lithium. You may grasp the English language, however, can you say the same for reality?

        • John Davidson permalink
          November 11, 2009 10:03 am

          There always is an idiot who searches for something to object to, yet fails to have a clue as to the substance of the text. (Did I do better this time?)

          • November 11, 2009 10:17 pm

            very much so. Now I’m going to go listen to Ann Coulter lecture me about the economy.

        • November 11, 2009 10:19 pm

          i know it’s bad form, but that one was just particularly incomprehensible.

  5. Mik permalink
    November 11, 2009 5:02 am

    Thought experiment. Remove all the big-box markets in the US and replace them with one federally run store. What do you think happens to the availability of goods and services? “Prices” might even fall, but costs will soar, only to be absorbed by the redistribution of resources from those well established within the “felony pyramid scheme” to those not quite as established. That game ends when all but those who run the new scheme fall off the pyramid. The flow of new products, the need for innovation, and eventually the entire system will disappear. Yesterday one of the bloggers linked to Evan Sayet’s piece on the Heritage Foundations website. It is a must read.

  6. peachey permalink
    November 11, 2009 11:20 am

    Sorry guys, I have not had my cup of coffee yet. What exactly happened in Wingnut’s expose on gobble-d-goop?……I just can’t take these high falutin’ scholarly exchanges this early in the morning. Was this a new math or new language? I must have missed that day in school.

    As a side note, Lott’s book is a presentation that even I could grasp and appreciate. I do not have a background in econ and was able to enjoy the clarity of the book.

  7. Hilary permalink
    November 22, 2009 10:40 am

    Plan For The Ultimate Capitalist Utopia: End social security so citizens will be free to work until the day they die. Eliminate public schools. Education is only necessary for those who can afford to pay for it. Most of us only need to know how to pull levers, lift heavy things or sit on street corners. Abolish the minimum wage. Workers should be free to work for food if that’s their choice. Make the US #1 in infant mortality and preventable disease by ending all health-care entitlements for all citizens. This will also finally bring down America’s absurdly long life-expectancy (don’t be so greedy). Make America #1 in prison population and allow businesses the freedom to use prison labor. It gives the inmates something to do. Make every bank a Bank of America, every store a Wal-Mart and every government worker an FBI agent or prison guard. Aside from that, we’ll be practically government-free. Like Somalia. We’ll have the lowest taxes in the land and liberty will reign supreme.

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