Friday, March 15, 2013

The Main Driver of GDP Growth: A Strong Rule of Law | The Big Picture

The Main Driver of GDP Growth: A Strong Rule of Law | The Big Picture

With scarcity after the GFC the Biv economies are becoming more Roy, this is like a forest collapsing and becoming grassland because of a lack of Gb resources, an R contagion, attacks from Roy animals, etc. This leads to Oy-R interactions where right wing secreti police as Oy predators secretively and deceptively hunt for secretive and deceptive R terrorists, guerillas, and also victims of predatory Y-Oy capitalism.

How Did We Slip So Fast?

Of course, the repeal of the basic laws which enforced the rule of law among financial players is a part of the problem. Virtually everyone – other than those currently working for the big banks or on their payroll – is calling for reinstatement of the separation between banking and speculative gambling.
Free market libertarians – like everyone else – are demanding prosecution of criminal fraud using basic fraud laws.  Yet the government has made it official policy not to prosecute fraud.
People have lost trust in the system, because government corruption is as widespread as Wall Street corruption … and many of those in power in D.C. have the same sociopathic traits as those they supposedly regulate on Wall Street.
And as Professor Ferguson notes, draconian national security laws are one of the main things undermining the rule of law:
We must pose the familiar question about how far our civil liberties have been eroded by the national security state – a process that in fact dates back almost a hundred years to the outbreak of the First World War and the passage of the 1914 Defence of the Realm Act. Recent debates about the protracted detention of terrorist suspects are in no way new. Somehow it’s always a choice between habeas corpus and hundreds of corpses.
Of course, many of this decades’ national security measures have not been taken to keep us safe in the “post-9/11 world” … indeed, many of them started before 9/11.
And America has been in a continuous declared state of national emergency since 9/11, and we are in a literally never-ending state of perpetual war. See thisthisthis and this.
In fact, government has blown terrorism fears way out of proportion for political purposes, and  “national security” powers have been used in many ways to exempt big Wall Street players from the rule of law rather than to do anything to protect us.
Is it any wonder that we’re still in an economic crisis?

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