As the so called securities/stock markets vacillate, the so called Austrian School of “economists” continues to advocate unearned gain, calling the subject arenas, “free markets.” They deny usury; and continue to advocate unearned gain even as the economy fails.
The whole idea of “securities” is unearned gain. There is no security whatever from a system which can only engender failure, to which unearned gain can only contribute, because unearned gain from the pool of wealth can only come at cost to real producers, who are obliged yet to service the sum of debt all monetary systems subject to interest impose upon their subjects.
Because only production produces wealth; and because reward for producing wealth can only come from the ultimate price of distributed wealth (however imposed upon by unearned gain), unearned gain deprives real producers of the very opportunity to receive for their production, an equal measure of the production of others.
This of course is part of what’s “driving up” energy and food costs. It’s why millions are starving while food waits in storehouses until the starving can meet the price of the commodities trader who produces nothing and takes the vast share of potential reward for produced wealth.
These things are bad enough on their own. But given an underlying monetary system which itself can only multiply debt while we maintain a vital circulation by re-borrowing interest and principal as ever greater sums of debt, the competitive quest for unearned gain exhausts the last potential reward for real enterprise, even before inherent multiplication of debt by the monetary system imposes inevitable collapse under a terminal sum of debt we can no longer afford to service.
As both are coming to a head now; the smoke and mirror of “long term securities” can only hope to take profit from an unsustainable, bankrupt system.
Only under mathematically perfected economy are the costs of unearned profit eliminated. Only under mathematically perfected economy are “the markets” truly freed by solving devaluation of currency and multiplication of debt by interest — something the Austrians actually *advocate* to our perpetual demise. Neither Paul, Vieira, Griffin, Mises, Browne, Hayek, or anyone else of the Austrian School can advocate solution, because they advocate both interest and unearned gain — calling that arena of predation a “free market.”