Strike The Root Blog

Mises.org recently published a transcript of the late Austrian economist F.A. Hayek’s appearance on NBC-TV’s Meet the Press back in 1975.

Then, as now, there was a great deal of economic turmoil facing the U.S. and much of the rest of the world. Hayek contended then that the turbulence was mainly caused by the central bank’s inflation of the money supply in order to finance unsustainable central planning, a criticism that equally applies today. Hayek suggested that the answer then was for the Federal Reserve System to simply stop inflating and allow resources to be reallocated according to consumer demand, however painful that adjustment may be in the short term. That’s a suggestion that equally applies to today’s turbulence, but one that Republicans and Democrats alike have shunned in favor of bail-out capitalism and pie-in-the-sky “stimulus” spending and all the massive debt and inflation that goes along with it.

The interview is interesting enough to read for all of the parallels to recent events, but there was one answer from Hayek that I found particularly striking.

One of the interviewers suggested that to simply cease inflation and allow for new economic adjustments to take place would most likely lead to more unemployment, and for that to happen in the already troubled inner cities would most likely lead to anger, frustration and violence amongst those populations, which would then most surely be followed by governmental crack-downs. The interviewer asked Hayek what he would do to ameliorate any ill social effects deriving from further unemployment among urban populations during any post-inflationary adjustment period.

Here’s Hayek’s answer:

“Well, I don’t think there is anything I can do about it. We’ll have to tide over the storm which may be threatening.”

Wow, how refreshing it is to hear such an intellectually honest answer from a public intellectual! How incredibly rare that is. Your typically neo-Keynsian/neoliberal court intellectual–blindly assuming the interviewer’s implied assumption that predominantly black and hispanic populations in inner cities are simply incapable of pulling themselves up by the bootstraps to be gospel truth–would have heard his cue and trotted out all sorts of half-baked ideas for wasteful government welfare programs. Hayek, however, did not so arrogantly assume that he knew what was better for people he knew nothing about.

“I don’t think there is anything I can do about it.” To hear any of your court intellectuals and assorted think tank “experts” make such an admission today would probably cause a complete tear in the space-time continuum, simultaneously catapulting all of us into an alternate reality.

Genocide in Gaza, but “No comment”:

Future terrorists to keep the show going, forever and forever:

Accidental illustration- Palestinians hopelessly entangled by Zionist Israel:

The kids turn to Johnny Law for guidance….

…..and are rewarded for obedience to the state:

After all the bailouts and stimulus programs are complete, the lowly tax serf carves up what’s left:

Stand by your man.  Let history be the judge:

Shaman rituals for the Magic Negro:

The state is melting, melting:

On the lookout for terrorist coyotes. The Ex-Emperor-To-Be seems to have fewer and fewer friends:

The sky darkens as the coronation approaches (“From the sixth hour until the ninth hour darkness came over all the land.”):

Just a reminder- Homeland Security is diligently protecting our shores:

Just a party girl. Please ignore the trail of bodies behind her….

Wouldn’t a dunce cap be a more appropriate product (Keepin’ America Stupid)?:

An idle GM assembly line awaits more bailouts and cheap credit:

He’s drinkin’ again:

A political office for sale? Why the shock?

Gimme your best shot:

The Old/New Deal- Swapping lives for pretty rags:

Spread the terror- Collateral damage at home:

New corporate acronyms on the horizon- Gimme Money!….

….and Finance Our Rotten Designs!

Don’t let Johnny Law steal your Christmas:

Rule of Politics #23: Always put the receptive and easily convinced in the front row:

Save your breath- reason won’t work:

Dude, where’s my job?

Slammin’ concrete- another important defensive function:

How you’ll soon be flying the friendly skies:

It won’t happen sittin’ down. For state-initiated change, stand up and grab your ankles:

Snow in New Orleans- Reality just won’t conform to the climate kooks:

Start a hot new career in law enforcement!:

Socialist monkey wrenchers continue to give true anarchists a bad name:

Taking the lives of children isn’t enough for US Crusaders- Now, they’re taking their toys:

Entertainment on Capitol Hill- Watching the taxpayer get roped and tied:

Fly the rag proudly- Land of the Cowards and Home of the Slaves:

The human soul hits rock bottom when it applauds state servitude:

The Emperor gives the eulogy for the American economy and dollar (Imagine the same picture with Lew Rockwell giving the eulogy for the state):

Prepare for a future with lots of depreciating Obama funny money:

Brother, can you spare some M3?

Voting parasites, ashamed of their affliction, tend to hide in the darkness….

….as do the mercenaries they employ:

Hold on to your wallets. Sar-krazy makes a call for “economic government.”

A leap of faith. No matter who wins, expect a hard landing:

The Empire reaches out to those it has imprisoned:

Commerce always finds a way around walls and borders:

Delusion- noun; a persistent or false psychotic belief:

Hang ‘em high- and then finish the job:

Kuh-oool! Video games that kill:

Things are not so peaceful anymore at Walden’s Pond:

McCain/Palin are here to save the day:

Joe the Plumber has had enough:

Some jackboots try a more folksy approach….

….to keep tyranny from becoming tiresome:

Three smiling gangsters:

Wall Street’s new rallying cry- “Ain’t too proud to beg:”

Babbling Bobbleheads:

Lined up for the firing squad? Not yet, but be patient:

Is JoMac headin’ for a fall?

B.O. collars a female to draft:

Cheney gets fixed up at a special hospital:

Some folks out there have a clue:

Even busy tyrant wanna-be’s take the time for a booty call:

Despite the shepherd’s record of failure, there’s still plenty of sheep to shear in Your America….

….Watch the Free Lunch Crowd sidle up to the always giving Federal teat:

What I would rather do than vote:

All is not well in the Land of Lehman:

Just a regular guy- Joe Six-Pack and his body guards:

Someday, the giants of freedom will walk tall among the remains of the bloody empire:

Everyone is a suspect:

Never give in and certainly don’t resort to begging:

The new dollar….

….to help you out of those sticky situations:

What ever it takes to sell the con. How’s this for putting lipstick on a pig?

The clueless search and search….

….until they find their soul mate:

The White House has time to think about breasts:

Cuba holds on to its myths:

The next financial crisis- the search for more digits:

A building on fire that doesn’t collapse? No “unusual magnetic forces” or “thermal expansion” here:

JoMac and his maniacs are feeling a bit anxious:

Pests and varmints come in all sizes and shapes:

Not to advocate violence, but someone really needs to slap this bitch:

Even the war mongering state can’t hold back the forces of nature:

What to do, what to do? The Emperor is lost in the woods:

Hide your crimes by encouraging others to read goofy books:

Any sweet, moving stories about dropping bombs on women and children?

Watch JoMac say “thumbs up” to socialism:

Watch Jo Mac have an identity crisis:

Running a con is so much more fun when done with a loved one:

The new War Wench seeks counsel from a killing expert:

Headed for the dumpster of obsolete symbols?

Take comfort, Johnny Law will dry your tears:

“Now I know the secret; there is nothing that I lack.
If I give my love to you, you’ll surely give it back.
Let it rain, Let it rain…..”

….Or is a just God pissing on, still another, false messiah:

Congress takes a close look at Bush’s bailout plan….

….and responds to the corrupt, evil minds that created it:

The Emperor and his henchmen walk away empty handed….

….But with a little sweetening (and apocalyptic warnings), the plutocrats succeed with Bailout 2.0:

Love that plastic:

It appears the American sheep are all onboard, waiting to be fleeced:

Tough economic times require looking at alternatives:

Clueless Joe vs. The War Wench. Another good reason to dump television….

….and keep an eye on your assets:

The state gets angry….

….when its subjects fight back….

….by returning fire:

A lesson for the kids- Leviathan gobbles up taxpayers:

The state aims to create more warring robots….

….rather than tactful peacemakers:

The instruments of war have a long life:

They’re ALWAYS watching. NEVER get used to it:

A new design for a worthless coin commemorating a worthless tyrant:

“What? Obama is still alive?”

Keep the faith. There’s always hope when pigs start to fly:

Ben contemplates his bailout….

….despite rampant opposition:

Henry points to fellow Americans to bail out his buddies:

How quaint. Daddy and Mommy are going off to war. Killing for the state always takes precedence over caring for your children:

US Crusaders do the killin’ and the Iraqis do the buryin’:

Down for the count. Time to wrap the corpse:

Henry the Healer looks to make things right (for some):

Banks? Time to look for a safer place for your money:

Self defense- the ONLY kind of defense:

The Emperor looks to heal a scarred land:

A symbol so tarnished and muddy, it won’t even burn:

The state finds success in protecting us from plants:

Even with the flowery adjectives, it’s still mob rule:

Passive resistance has its extremes: