Translation: All we need is more power

Posted by Marc Hodak on February 22, 2009 under Collectivist instinct, Politics | Read the First Comment

Reuters began an article titled “Europe says all markets must be regulated” with the following lead:

Europe said on Sunday it was time to get tough with tax havens and strictly oversee all financial markets as part of sweeping reforms to avoid future meltdowns.

Let’s translate:

“Europe said“:  The heads of several governments, representing the politicized sectors of their respective European countries said…

“it was time to get tough with tax havens“:  they see this as yet another opportunity to shut down tax competition…

“and strictly oversee all financial markets“:  and expand their political cartel over areas they don’t currently control

“as part of sweeping reforms to avoid future meltdowns“:  to increase their already immense regulatory powers, with no real expectation that they will exercise them with any more success or accountability than they have in the past.

This might be a good time to formalize Hodak’s Law:  Politicians will assert that there is no problem in society that can’t be solved by giving them more money and more power.

For some reason, the press always credulously reports these power grabs as if they were the only sensible way of discussing or dealing with problems.