Doug Noland: A Washington-Induced Credit Bubble?

We are not victims of ill-intended policy. Rather, we are crime victims.

And his right hand embraces me.
—Song of Solomon

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I wish to take issue with Doug Noland's claim this week that we have become victims of a Washington-Induced Bubble. By necessity my objection must take root in a "what came first, the chicken or the egg" line of reasoning. You see, I believe humanity, generally speaking, is inclined to trust the intentions of its fellow beings. That is why arguments for loosely regulated (or unregulated) markets were subscribed to in the first place. People, as they are generally inclined to do, trusted those who argued in support of radical, free market ideology.

And where has this led us? We have not become victims of ill-intended political policy! Rather, we have been made victims of criminals who betrayed our trust. One can argue shades of gray. However, the fundamental fact is a crime has been committed. And so, there is but one policy adjustment needed now: courage to prosecute.

If you or anyone you know aspires to national politics, look to your current representative and ask yourself: who in the chain of persons responsible for millions of Americans losing their jobs, their homes, their sense of human dignity, has this man or woman doggedly sought to bring to Justice? Your campaign likely will be an easy one resulting in landslide victory, because Americans hate cowards as much as they despise criminals, and those who protect them.

Do feel free to forward this post to your state's two elected U.S. Senators and your Representative in the House.

—Tom Chechatka