Robert Ringer

Free-market Wannabe Mitt Needs Close Monitoring

By Robert Ringer - Friday, October 5, 2012

Overlooked in the jubilation of Mitt Romney’s TKO of the Master of the Forked Tongue were his comments regarding his pledge to repeal the Dodd-Frank bill, the 2010 law that overhauled the oversight of the financial industry.

Said Romney, “Regulation is essential. You can’t have a free market work without regulation.”  Really?  I guess I need to go back and study up on my von Mises.  I thought a free market — at least a true free market (i.e., a laissez faire market) — is a market without regulation.

But if there were no regulations, wouldn’t greedy capitalists crush all us little guys?  Quite the opposite.  A free market is the most powerful regulator on the planet.  Major corporations are the ones who love regulations, because they stifle upstarts like Bill Gates, Steve Jobs, and Jeff Bezos.

MittMan went on to say, “At the same time, regulation can become excessive, it can become out of date.  And what’s happened with some of the legislation that’s been passed under President Obama’s term is you’ve seen some of the regulation become excessive and it has hurt the economy.”

All good thoughts, Mitt.  But the problem is that the word excessive is subjective.  So it always gets down to politicians deciding which regulations are reasonable and which ones are excessive.

And the result is that during the first three years of Obama’s term, the Code of Federal Regulations has increased by 11,327 pages.  It’s a book that never shrinks in size; it only gets larger.  Which means that politicians obviously don’t see all those new rules as excessive.

Aside from their chief purpose in life, which is accumulating as much power as possible, the two main jobs of politicians are to redistribute wealth and regulate behavior.  And the facts clearly show that they continually move the “excessive” bar higher so it doesn’t get in the way of their endless thirst to increase their power over both individuals and businesses.

Being the soft touch I am, when you catch me in the right mood, I might concede that you need some rules and regulations if your objective is to live in a society that is reasonably safe and orderly.  But a Ron Paul or Gary Johnson would cut those rules and regulations to the bone.  And, as a result, we’d all be happier and better off.

In this regard, I was gratified — and surprised — that a new Fox News poll showed that 54 percent of Americans would like the government to leave them alone, while only 35 percent would like government to “lend them a hand.”  Such polls are a threat to my cynicism.

At age sixty-five, Willard Mitt Romney appears to be trying hard to evolve into a free-market capitalist, and he may just make some serious headway with Paul Ryan at his side.  But his biggest challenge is to stop saying things like “Regulation is essential.”

It’s okay to believe that a bit of regulation is essential, but it’s not necessary to say it.  It makes those of us who are leery of your true beliefs wince.

As Robert Shaw repeatedly asked in The Sting, “Ya folla?”

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Copyright © 2019 Robert Ringer
ROBERT RINGER is a New York Times #1 bestselling author and host of the highly acclaimed Liberty Education Interview Series, which features interviews with top political, economic, and social leaders. He has appeared on Fox News, Fox Business, The Tonight Show, Today, The Dennis Miller Show, Good Morning America, The Lars Larson Show, ABC Nightline, and The Charlie Rose Show, and has been the subject of feature articles in such major publications as Time, People, The Wall Street Journal, Fortune, Barron's, and The New York Times.

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20 Responses to “Free-market Wannabe Mitt Needs Close Monitoring”

  1. Mike Broderick says:

    I'm a little confused. Why would you say a little regulation is not right either? What about the FDA insuring our safety from food poisoning from a vendor that is cutting corners for profit?

    • Gary says:

      A hangman’s noose is a better bet for ensuring safety than a little payola to an FDA parasite.

    • joseph says:

      You certainly are confused. If the FDA is so eessential and effective, why do we keep having all these salmonella outbreaks and other food related illnesses? I thought the mighty FDA would surely prevent all these problems. But of course they can’t because human beings are imperfect. All the FDA does is make it next to impossible for life saving drugs to be approved so that we are assured of shortages when we need the drugs. And by the way, that little vendor who’s “cutting corners”? That why we have a legal system. If any food producer did that, some sharp lawyer would sue them for everything they have. Besides, most business owners want to make money, but you can’t do that if you are making your customers sick.

      • fred says:

        Ummmm….no, Joseph, not exactly. Dozens of "FDA approved" drugs have gone on to kill millions. The issue with government regulation is the fundamental and profound lack of integrity that seems to befall nearly everyone that ascends to power…even the petty power of a beaurocrat. The FDA is stocked with former drug company execs that now can pull the strings directly. Money and power are the drugs of choice for all government types and there's plenty of it available for any of them if they will just kindly check their integrity at the door.

    • says:

      Unfortunately, even a department as seemingly benign as the FDA has being captured by the industry that it attempts to regulate. Much of the FDA regulations serve more to protect incumbent corporations from competition than protecting American citizens from harm.

      Case in point: the FDA is pursuing bloggers who recount their own experiences about how cheap and safe nutritional supplements have helped them to recover from whatever illness they were suffering from while at the same time allowing large pharmaceutical corporations to hide trials that are not in their favor. I could mention many more examples of how the FDA has become a tool of incumbent corporations.

      • reunion says:

        regulatory capture is a mischaracterization (useful tho, keeps the dupes off point).

        crony cartelists create reg "agencies" (whose your daddy, b***h?) to impede their would-be competition. that's it & that's all.

  2. reunion says:

    freedom, including markets, regulates. dynamically. political regulation distorts, hampers, impedes, corrupts. simple.

    also simple: political regulation socializes costs & privatizes/concentrates "profits" (in quotes because political man does not, cannot, "profit", since theft does not constitute profit…).

  3. larry hagedon says:

    In few months, there will be a whole lot of buyers remorse for those foks that believe Mitt Romney is the lesser of two evils.

    In fact, he is not. Both candidates are evil and both candidates despise you and me, and both candidates are in fact using us to do great harm to America, each for their own purpose.

  4. Gee Mike aren't there already laws in place to punish anyone who deliberately harms another. Any business owner with an ounce of sense would know he will eventually get caught and shut down and jailed if he knowingly harmed his customers. If he was willing to do that he wouldn't be in business in the first place. And if you want some assurance of cleanliness or truthfulness why can't a private firm assess businesses for a profit and place their seal on the storefront or packaging. Again same rules; they would survive only on their reputation to assess businesses fairly and accurately. If business they approve suddenly start poisoning people or ripping them off their reputation would be ruined. No problem being monitored just with who's doing the monitoring.

  5. Reality Seeker says:

    Nice: I liked this article, because it was vintage RJR.

    It was also very amusing watching Sh*tt Romney use Fraud Obama as his very own punching bag. Really, he made Obama his bitch.

    Very little surprises me, but I truly didn’t think that Sh*tt had it in him. It was one of the best debates between two political parasites since Reagan-vs-Carter or maybe even Kennedy-vs-Nixon. I agree with a key supporter of Obama, Van Jones, who said, ” He [ Romney] out-Obama(ed) Obama. Really that says it all, doesn’t it? One alpha parasite out-lying, out-promising and out-parasit(ing) the other. Sh*tt Romney’s preparation, demeanor and specious rhetoric was so good that it was a game changer.

    If Sh*tt Romney wins, here is my prediction: “Shot through the heart, and you’re to blame. You give love a bad name.” What do I mean by this?

    Neoconservatives give libertarianism, capitalism, freedom and the Constitution a bad name. They, including alpha-hypocrites like Levin, Rush, Coulter et. al. hate Ron Paul, Gary Johnson, Mises, Rothbard, Hayek, Ayn Rand and all genuine libertarian-types. Levin (aka Dr. Bullshit) the top GOP leaders (aka Grand Orwellian Party leaders) and Shitt Romney are all back shooters, big spenders and war-mongering statists.

    Yes, the economy will fail big time with Sh*tt Romney as President of the u.s.s.a. The end result will be a very, very bad name for capitalism.

  6. bullwink32 says:

    RJR Huurrraaahhhhhhhhh !
    Bill Clinton is speaking about shared prosperity , What is that ?
    O Bummer is sayin sumpin too,
    Like Mitt said " I've been in biz 25 years and I can't understand what you say"
    Liberals just hate things and themselves

  7. orban says:

    I am sorry to see utopianism rising among Libertarians . Neither Paul nor Johnson has any chance to win the presidency , so what we need is educating people . Unfortunately this takes generations , who learn from experience . That is the law of nature . Mitt is , at least , not a communist , and that is a small step in the right direction . I am a refugee from a communist dictatorship , and I can tell you the big O is the largest evil around right now . If he is returned to power , we can look forward to a revolution ( bloody ) . Don't know how long it will take , but it will come .

  8. Lawrence Ekdahl, says:

    My belief is that my God, Jesus Christ is still in control. He will give the nations just enough slack to hang themselves; Then, when they are about to destroy themselves he [GOD], will defeat all the armies of the world and rule for a 1000 years in righteousness with an iron rod.

  9. It will be interesting to see how the debates progress into the election. One thing is certain about all politicians: they love to spend money. And Mitt Romney will be no different.

    So whatever happens, I cannot see the budget deficit closing very quickly. The dollar will remain under pressure or am I wrong?

  10. Gill O’Teen says:

    All the regulations we need were written in stone thousands of years ago. Something about thou shalt nor kill, steal, nor covet that which is thy neighbor's.

    • One has to be honest, China is not a free market and yet it has done well. Brutal mercantilism has its advantages. I see even Microsoft has to ask China very politely to crack down on software piracy at state owned firms.

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