free markets – Moe Lane

Apparently, it’s all about planned economies: former Michigan Governor Jennifer Granholm is for ‘em.

“We operate as though we are not in a global economy,” says Granholm. “In theory, free markets and laissez faire make perfect sense, but in practice, our competitors are eating us for lunch.”

(pause)

Remember, this was supposed to be one of the Democrats’ smart ones. One of the people that was supposed to make you wistful that we only let native-born citizens be President (Granholm was born in Canada). Kind of alarming that she’s now talking about how free market capitalism just isn’t practical? – Because unless Jennifer Granholm had a stroke recently or something, this is probably not a new opinion for her. Which means that she probably had that opinion while she was running the state of Michigan. Which explains the current state of Michigan rather handily, really. Continue reading Jennifer Granholm’s slack-jawed economic advice.

Hot Air’s Allahpundit, on why the North Koreans suddenly decided to relax restrictions on their markets before everybody quite died of starvation:

The key to this[…] is last year’s currency exchange, in which the NorKs tried to counter inflation by announcing that 100 units of the extant currency would henceforth only be worth one unit. No problem there — except for one small detail. They set a limit on how much currency each citizen could exchange, so if you had the equivalent of $100,000 stashed away in “old” money and the exchange cap was set at $100 of “new” money, guess what: You just lost the equivalent of $90,000. With people’s savings up in smoke, a new round of starvation duly began and now they’re trying to head it off by all but declaring defeat at the hands of the vengeful ghost of Adam Smith.

Continue reading #rsrh QotD, Angry Capitalist Spectre edition. (NSFW)