Or is the old Marxist ideologue (a.k.a. “a Jesuit”) just trying to deceive everyone when he says that “markets and financial speculation” operate “in absolute autonomy” with no government regulation at all? He said that yesterday in yet another Nixonian “I am not a crook”-style denial that he is a Marxist. (Was that a thunder bolt I just heard?)
In reality, markets have long been swamped in regulation from all levels of government. As George Reisman pointed out, in the U.S., for beginners, we have a government that spends almost 50% of GDP; there are 15 cabinet departments that exert controls over markets; there are more than 100 federal regulatory agencies and more than 75,000 fine-print pages of regulation of markets in The Federal Register. Then there’s almost as much regulation of markets from all the state an local governments as well.
And there’s the Fed, which in addition to regulating the money supply, regulates all aspects of all financial markets as well. And the SEC, the FDIC, Office of Thrift Supervision, etc., etc.
The pope ignores all of this reality to once again repeat the main theme of his papacy: That “world resources” should be allocated according to the dictum of “from each according to his ability, to each according to his need.” This is the Jesuit version of Catholic doctrine, but of course it is in reality propaganda from The Communist Manifesto. No wonder Pope John Paul II criticized “liberation theology,” the “bible” of Jesuit political activists, as a danger to the teachings of the church because it is little more than Marxism masquerading as Catholicism.4:06 pm on January 12, 2015