Tag Archives: Greed

Economic Myths #4 – Profits are Evil!


One of the elements of a capitalist system that induces purple-faced rage amongst statists and progressives is the existence of profit. This residual – the amount left over once an entity has deducted its costs from its revenue – is said to line the pockets of greedy shareholders while exploiting labourers and consumers.

First, it is important to understand what we mean and what we do not mean by “profit”. Here we will be discussing only profits that an entity may earn purely as a result of voluntary trade and free exchange; we do not mean those “accounting” profits that companies may rake in as a result of favourable state regulations, direct subsidy from the state, or any other kind of residual of a trade relationship based upon force. These profits – including bank bailouts and stimulus funding – are rightly to be condemned as unjust and immoral, sustaining the power base of the incompetent, wealthy elite at the expense of everyone else. But such a condemnation must not be allowed to throw out a very precious baby with repulsively filthy bathwater – for profit is one of the most vital elements that gives life to an economic system that relies upon the division of labour. Read more

Barack Obama: a conservative in disguise after all?


David Davis

I don’t think so, but it could be nice to hope.

Perhaps we’ll have some music later to celebrate.

But in the meantime, this piece from friend Paul Marks on Samizdata is good reading, about bankers, greed, other kinds of sin, and dodgy election practices in places called Chicago.

Ah…of course…we should have known. The Marxist CofE Archbishops do.


David Davis

Here, you can see the whole sad thing, but…

…to prove my point in the title, I have to quote directly from the article:-

The Archbishop of York, Dr John Sentamu, condemned the financial traders who made millions by driving down the share price of leading banks as “bank robbers and asset strippers”.


In a powerful speech to City bankers on the effects of the credit crisis on Wednesday, he denounced the “Alice in Wonderland” world of global finance where short-sellers profited by laying bets that shares in HBOS would fall in price.

Meanwhile the Archbishop of Canterbury, Dr Rowan Williams, warned in a magazine article that modern devotion to the free market is a form of idolatry and that Karl Marx was right in his analysis of the power of “unbridled capitalism”.

The pair’s attacks came following a tumultuous week in which four major financial institutions went bust or were taken over, triggering multi-billion pound government rescue plans to steady the markets, after traders targeted banks that had been weakened by exposure to unrecoverable mortgage debts and a reduced ability to borrow money.

I have to say, here, that I originally thought that Dr John Sentamu was (what messrs Sellar and Yeatman called, in “1066 and all That“) a Good Thing. But sadly, he’s turned out to be just as bad a fascist lefty as all the other Stalinist/de-Christianising redistributionist terroristloving Devilworshipping lefties of today’s Chief officers of the Church of England. John Carey was probably the last Archbishop of the CofE who could be called (more or less) Christian.

And…let’s just straighten this out while I’m on fire…the “women priests thing” is not the problem. It is a Feminazi sideshow, conducted merely to undermine the CofE as an Anglospheric Institution, which used once to act to do great good, for more people, for less money, and in less time, that socialism and “big-state-charity paid for out of taxation. the Feminazi thing, and the aggressive promotion of “gay” priests, to help shatter the bonds of memory about ordinary charity and Christian life in England. It has largely succeeded.

( Regarding the “molestation” issue, many priests, in all times, and in all religions, have liked choirboys or over-young girls. I submit that it’s to do with the emotionally-highly-charged states that lonely men and inspired young people, forced together in concentrated study and practise of skill, can reach, in the environment of a grand and numinous building, and in the presence of very very large, expressive music and deep emotions. Anything that went on as a result ought to have been merely a matter for the civil authorities, if their voters decided to take a position…which under Liberal Classical pluralist democracies, they have been allowed to for the first time!)

(Furthermore, nowhere, nowhere did Jesus Christ ever say that women could not minister to His Word, nor that they could not bear His Witness to others. Indeed, Mary Magdelene did more than her heroic duty in this regard, in her life, in Jesus’s own time. He just didn’t think it was worth mentioning separately: he had other stuff to do.)

But I digress (shut up, you KNOW you like it!) Let’s get back to hysterically chewing the trousers and underpants off the two English Archbishops, who have so disgraced themselves, in public, and who have yet again succeeded in shooting capitalism, the ONLY father of Freedom and Natural Rights, in the foot.

I have to quote Sentamu again:-

Speaking to the Worshipful Company of International Bankers (what’s this? Ed.), Dr Sentamu said: “Those who made £190million deliberately underselling the shares of HBOS, in spite of its very strong capital base, and drove it into the bosom of Lloyds TSB, are clearly bank robbers and asset strippers.

“We find ourselves in a market system which seems to have taken its rules of trade from Alice in Wonderland, where the share value of a bank is no longer dependent on the strength of its performance but rather on the willingness of the Government to bail it out, or rather on whether the Government has announced its intentions so to do.”

Dr Sentamu will speak in New York on Thursday as the United Nations hosts a summit on the progress made by world leaders to end poverty. (Next post: how to staple jelly to the ceiling. Ed.)

He clearly has understood nothing. Which is to say, that the price of something is what someone else is willing to pay for it now, and which can be known right now (today) or else also estimated in the future IF all other factors are equal and the Bank’s (or whatever’s) behaviour is unaltered (say 6 months’ time or whatever.)

Or, he has been got at, by whatever Nazis and other fascist lefty scumbags are at work inside the fabric of the Church of England.

I did admire the silly bugger. In the face of white-hot post-Christian Blairism in Britain, Sentamu deliberately baptised real people, by Total Immersion, in public. He could have been hauled off, and even martyred by Stalinist shits and twats like David Blunkett and Ed Balls and “Jacqui” “Smith” (such an anodyne name, for such a person!)

YOU know! Hate-crimes, and all that anti-Western, fascist leftist multiculturalistical shit. But he did it. I think he’s been got at by the other bugger, the Welsh windbag with the bushy eyebrows.

You might buy a used car from him, but would you let him hold your baby?

You might buy a used car from him, but would you let him hold your baby?