Topic: Economics
Jeremiah Tucker offers a gem in his Juvenile Satire of Atlas Shrugged Mr. Tucker serves up a laugh-out-loud juvenile romp that includes three imagined scenes between three major characters of Atlas Shrugged. While it is nothing but a trashy satire on Atlas Shrugged, the re-envisioning of how John Galt and Hank Rearden could both ruin and escape the statist looters with re-claimed profits is quite a gem.by Nickalis N. Tower
(libertarian)
Wednesday, December 17, 2008
Here's the best samples:
Hank Rearden, industrialist who created a revolutionary new alloy and had it nationalized by the feds, has this to say:
"There's a whole world out there of byzantine financial products just waiting to be invented, Dagny. Let the leeches run my factories into the ground! I hope they do! I've taken out more insurance on a single Rearden Steel bond than the entire company is even worth! When my old company finally tanks, I'll make a cool $877 million."
In another scene, Dagny finds some mysterious papers outlining a plan for financial debt-based derivative investments. She tells Hank about it:
"... it's an experimental formula for a financial strategy that could convert static securities into kinetic profits that would increase at an almost exponential rate."
"... and it's so complex the government could never regulate it."
In a final scene, John Galt explains to Dagny his rationale for unleashing derivatives onto the financial markets of the American collectivists:
"When the government takes profits, it is literally robbing us. I will not apologize for my wealth to a nation of looters. We who live by the mind are the top engineers, scientists, and doctors, businessmen, artists, inventors, but we no longer give our talents to the looters. In fact, I've unleashed a new talent of mine. I created the financial plan you found. It's true, it works. But it is not sustainable. It will ruin the looters' fiat financial system, and then we'll see how those who despise the men of the mind prosper when their lenders and investors refuse to invest or lend." He laughed with the radiant confidence of justice. "I shall destroy the fraudulent profits the looters seek, and then the looters will have nothing more to feed on. Americans will have to either throw out the political parasites and their political (fake) capitalist cronies, or perish."
P.S. Since Mr. Tucker took the liberty of trashing a great American piece of literature without permission, Atlas Shrugged, I felt free to clean out the worthless parts of his work and reuse them here without permission.
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