Wednesday, December 13, 2006

Wal-Mart Fights the Fed

Vast numbers of people in this country have cast their vote for Wal-Mart and do so every time they shop there. Let the numbers speak for themselves. If Wal-Mart starts doing things people don't like, such as raising prices, a free market will allow competitors to step in and try to do better. As long as Wal-Mart and other companies don't call on government to protect them from competition, we as consumers will benefit.

Wall Street bankers didn't like the competition they were facing at the turn of the 20th century, so they "partnered" with select politicians and created the Federal Reserve System, the most destructive cartel in human history.

In a very real sense, Wal-Mart is an antidote to Fed counterfeiting. As the Fed erodes the value of the dollar through inflation, Wal-Mart puts some of that value back with attractive prices.

People who want to lay the heavy hand of government on Wal-Mart should consider that they are helping to crush what's left of free enterprise. It is the "free" in "free enterprise" that brings us material benefits.

As Sheldon Richman noted today about New Hampshire's tendency to regulate everything in sight:

"Live free or legislate".

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