Remembrance of Recessions Past

"The emerging media campaign against "hoarding" has a nasty and unmistakable flavor of Stalin-variety collectivist scapegoating: The term "hoarders" was produced by the same propaganda mill that churned out official imprecations against "wreckers" and "kulaks."

Whenever a collectivist regime expands its control over an economy, it has to find somebody to blame for the inevitable dislocations, shortages, and hardships.

Typically such ruling elites re-direct blame at those whose economic behavior is rational. And scapegoating in such circumstances is inevitably a prelude to outright confiscation of wealth, and, eventually, the liquidation of those intransigently committed to individual freedom and dignity."

Full article here:

http://www.lewrockwell.com/grigg/grigg-w87.html

My new sig, from Grigg:
"Neither nations nor households can build prosperity through debt and consumption, but rather through thrift and productivity."

Dan :)