The Collapse of Free Market Ideology #GrubSTreetJournal #GenesisBlock Special

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http://p2pfoundation.ning.com/forum/topics/bitcoin-open-source?commentId=2003008%3AComment%3A9493

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Prescience here! #reblogged on Not the Grub Street Journal #No2
Prescience here! #reblogged on Not the Grub Street Journal

Layne Hartsell

The media are using the terms seismic and potential meltdown, accurately, to describe the current conditions of the market and what seems to be the defining moment of the collapse of the free-market ideology. The much stronger terms indicate the situation is beyond crisis as other institutions teeter. Failure and massive, worldwide governmental intervention signals the overall collapse where there will be no reasonable way to believe in the ideology without looking completely out of touch, or worse. Up until this point, there has been plenty of incentive to perpetuate the myth, because of the rewards of money and power. Such belief is delusion, nevertheless. The potential meltdown is a scenario where the scientific and moral evidence was completely ignored by the elite structures, because the eventual consequences are not existential threats to publicly secured elite wealth. The ideology has been perpetuated in order to indoctrinate people into a belief…

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