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Mike Church

Official Talk Show Host News, History & Opinion For The Liberty-MindedHeard Daily on SiriusXM's Patriot ch 125, 6-9 am

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Wednesday, October 17th, 2012

David Stockman Speech-The End of Sound Money and the Triumph of Crony Capitalism

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The End of Sound Money and the Triumph of Crony Capitalism Monday, March 14, 2011 by David Stockman Mandeville, LA - The text of this speech is excerpted from The 2011 Henry Hazlitt Memorial Lecture, given on March 12 at the Austrian Scholar's Conference in Auburn, AL -The original text and audio versions are here The triumph of crony capitalism occurred on October 3rd, 2008. The event was the enactment of TARP — the single greatest economic-policy abomination since the 193….Continue

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"Whatever capital you divert to the support of a shiftless and good-for-nothing person is so much diverted from some other employment, and that means from somebody else. I would spend any conceivable amount of zeal and eloquence if I possessed it to try to make people grasp this idea. Capital is force. If it goes one way it cannot go another. If you give a loaf to a pauper you cannot give the same loaf to a laborer. Now this other man who would have got it but for the charitable sentiment which bestowed it on a worthless member of society is the Forgotten Man." - William Graham Sumner, The Forgotten Man

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