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<blockquote data-quote="newusername" data-source="post: 6227690" data-attributes="member: 562064">Well, it seems to me that there is a distortion of the classical liberal position adopted by economists like von Mises, Hayek, or Friedman.&nbsp; For starters, I reject that Reagan was a neoliberal; he employed significant defense spending and enjoyed significant deficits as a result.Second, the point I made earlier about the collapse of the economy not being the result of a free market; what of the following qualifies as a &quot;free market&quot; practice:1) Artificially low interest rates to &quot;stimulate&quot; the economy2) Community Re-Investment Act3) Pressure on Fannie and Freddie to expand lending to higher risk clients for the sake of increasing home ownership (Fannie and Freddie themselves being GSE&#039;s)4) The Single-Family Affordable Housing Tax Credits signed in 2002 that encouraged further investment in low-income areas5) Backing the risk with bailoutsThat&#039;s just a high-level overview.</blockquote>

[QUOTE="newusername, post: 6227690, member: 562064"] Well, it seems to me that there is a distortion of the classical liberal position adopted by economists like von Mises, Hayek, or Friedman. For starters, I reject that Reagan was a neoliberal; he employed significant defense spending and enjoyed significant deficits as a result. Second, the point I made earlier about the collapse of the economy not being the result of a free market; what of the following qualifies as a "free market" practice: 1) Artificially low interest rates to "stimulate" the economy 2) Community Re-Investment Act 3) Pressure on Fannie and Freddie to expand lending to higher risk clients for the sake of increasing home ownership (Fannie and Freddie themselves being GSE's) 4) The Single-Family Affordable Housing Tax Credits signed in 2002 that encouraged further investment in low-income areas 5) Backing the risk with bailouts That's just a high-level overview. [/QUOTE]

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