About This Blog

Ludwig von Mises (1881-1973) was the greatest economist of my time. His greatest works can be accessed here at no charge.

Mises believed that property, freedom and peace are and should be the hallmarks of a satisfying and prosperous society. I agree. Mises proved beyond a shadow of a doubt that the prospect for general and individual prosperity is maximized, indeed, is only possible, if the principle of private property reigns supreme. What's yours is yours. What's mine is mine. When the line between yours and mine is smudged, the door to conflict opens. Without freedom (individual liberty of action) the principle of private property is neutered and the free market, which is the child of property and freedom and the mother of prosperity and satisfaction, cannot exist. Peace is the goal of a prosperous and satisfying society of free individuals, not peace which is purchased by submission to the enemies of property and freedom, but peace which results from the unyielding defense of these principles against all who challenge them.

In this blog I measure American society against the metrics of property, freedom and peace.

Thursday, November 17, 2011

Is Mitt Romney Really Gordon Gekko?

If Mitt wins the nomination, you can bet the mainstream media and Obama are going to say he is.

Consider this article from the Nov. 12, 2011 issue of the NY Times: “After a Romney Deal, Profits and Then Layoffs.”

Nevermind that the last sentence of the article (which is lengthy and filled with heart-wrenching anecdotes about $80,000 per year employees suffering wage cuts of $1 per hour and laid off janitors attempting suicide) reads:

“Bain’s strategy, as painful as it was with plant closings and layoffs, had ultimately worked, executives said. The bankruptcy ‘does muddy the story,’ said Mr. Wolsey-Paige, the former Dade executive. ‘Over all,’ he said, ‘it was very positive.’”
I know little to nothing about private equity financing. The average American voter knows even less. I do know that capitalism is messy and that at Bain Romney played a high risk, high reward game with other people’s money, earning upwards of $250-million in the process.

[This is the guy who is going to lead the Republican fight to renew the Bush Tax Cuts?]

Do you believe the mainstream media will highlight Romney’s successes at Bain (such as growing Staples into an office supply industry leader)?

Or will smear merchants like the New York Times concentrate on the messy parts, painting Romney as another “Greed is good” Gordon Gekko?

The answer is obvious.

Romney is the prototypical poster boy of the evil, Wall Street 1% that class-warring Obama is gearing up to fight with well-funded lies and smears of his own.

Six months from now Occupy Wall Street will be occupying Mitt Romney. Count on it.

[This post was inspired by a post by Prof. William A. Jacobson ("Will We Ever Get Around To Vetting Mitt Romney") at his blog, Legal Insurrection -- one of my must-read favorite blogs. My comment to Prof. Jacobson's post is here.]

No comments: