Leftist Facebook (FB) supported Snopes as well as conservative CNS News have each previously referenced the classic quip below from Ronald Reagan. Reagan made that observation during a TV interview years before he became the 40th President of the United States (POTUS).
As a terminology refinement, actor-turned Governor Reagan (CA-R) might have used the words “the left” instead of “liberal” to make his point. There is, after all, a classic liberal . The classic liberal and a modern conservative have much in common, when both terms are properly understood.
The issue behind the words matters to our profession, investors and others. Words and their meaning matter. Sound ideas and clear thinking are part of how the #RiggedSystem and rising authoritarian state described by leftist attorney Glenn Greenwald should be confronted.
Per leftist Wikimedia, on Classical Liberalism:
“Classical liberalism is a political ideology and a branch of liberalism that advocates civil liberties under the rule of law with an emphasis on economic freedom. Closely related to economic liberalism, it developed in the early 19th century, building on ideas from the previous century as a response to urbanization and to the Industrial Revolution in Europe and North America.”
Robert Longley updated on June 29, 2020 on ThoughtCo the following bullets.
“Key Takeaways: Classical Liberalism
- Classical liberalism is a political ideology that favors the protection of individual liberty and economic freedom by limiting government power.
- Classical liberalism emerged during the 18th and early 19th centuries in response to the sweeping social changes precipitated by the Industrial Revolution.
- Today, classical liberalism is viewed in contrast to the more politically-progressive philosophy of social liberalism.
That noted, pivoting back to Reagan’s insight on the rise of fascism that he described in a Dec. 14 1975 interview with CBS’s 60 Minutes. When Reagan said “liberal” imagine him saying “the left” or “leftist” instead.
In response to a point from CBS 60 Minutes interviewer Mike Wallace, Reagan said: “How do we call a liberal? You know, someone very profoundly once said many years ago that if fascism ever comes to America, it will come in the name of liberalism [i.e. leftist].”
“And what is fascism?” Reagan rhetorically asked. “Fascism is private ownership, private enterprise, but total government control and regulation. Well, isn’t this the liberal philosophy?”
“The conservative, so-called, is the one that says less government, get off my back, get out of my pocket, and let me have more control of my own destiny,” Reagan said.
Back to Longley via ThoughtCo:
Based on the ideas of Adam Smith, classical liberals believe that individuals should be free to pursue and protect their own economic self-interest free from undue interference by the central government. To accomplish that, classical liberals advocated a minimal government, limited to only six functions:
- Protect individual rights and to provide services that cannot be provided in a free market.
- Defend the nation against foreign invasion.
- Enact laws to protect citizens from harms committed against them by other citizens, including protection of private property and enforcement of contracts.
- Create and maintain public institutions, such as government agencies.
- Provide a stable currency and a standard of weights and measures.
- Build and maintain public roads, canals, harbors, railways, communications systems, and postal services.”
Classic liberals and #MAGA conservatives are often quite similar in their thinking. Not only Reagan, but others – including in our own time – may arguably misuse the term “liberal,” as the above hopefully demonstrates. Thus, often (not always) when someone who is a ‘conservative speaks about a ‘liberal’ they may actually be talking about someone on the political ‘left.’ In that sense, Reagan is being proven correct that today the fascist threat of authoritarianism that Glenn Greenwald and others have aptly identified is coming — from the left — and the billionaires and corporate interests.
Years before Greenwald’s keen insights on this topic, MHProNews was sounding the alarm on oligarchs such as Warren Buffett and his ilk. But to be fair, it was Buffett and the man who became his billionaire ally, Bill Gates that blew the whistle on themselves.
What Gates said in the quote above mirrors what Robin Harding from the Financial Times discovered years later. New and longtime readers alike must note these realities, because it sheds light on how a riggest system actually operates in practice.
Both comments the critique art of what’s ‘gone wrong’ in America, and the video clip from Reagan makes it clear that this process has been going on for decades, is this. Often a false premise, or a twist of terminology, is used to artificially divide people that may have more in common than they actual are.
One more point that MHProNews has periodically raised for years. There is a difference between a republic and a democracy. The founders understood that distinction quite well. As Longley expressed part of that difference with respect to this discussion, “Classical liberals rejected the idea of direct democracy—government shaped solely by a majority vote of citizens—because majorities might not always respect personal property rights or economic freedom. As expressed by James Madison in Federalist 21, classical liberalism favored a constitutional republic, reasoning that in a pure democracy a “common passion or interest will, in almost every case, be felt by a majority of the whole […] and there is nothing to check the inducements to sacrifice the weaker party.”
That noted, let us now pivot toward the other part of tonight’s headline.
The “Reddit Rebellion” against Wall Street oligarchs and hedge funds using the Robinhood ap to trade Game Stop and other equities may be coming may be coming toward a close. But it may have some insights worth probing, which will be this evening’s featured focus.
For the growing numbers of new readers, a few quick insights.
- Every business evening, MHProNews provides a bullet list of left-right news headlines from CNN and In a matter moment, savvy professionals can see at a glance news headlines and views across the political spectrum. It is a time saving and insightful for those who are hooked on this market-nightly feature.
- Our featured focus follows the quotable quotes, periodic political cartoons, those left-right headlines, and two of our three market summary graphics as reported at the closing bell.
- After the featured focus, are some recent/related report links and the third manufactured housing focused stock equities graphic. There are some additional items that include the free signup for the manufactured housing industry’s x2 weekly emailed news to the most-read trade publication in our profession:
On a night that most manufactured home connected equities slid along with the markets in general, let’s press ahead to those business-nightly features.
Quotes That Shed Light – Industry, American, Social, National Issues…
Headlines from left-of-center CNN Business
- Ground zero
- Co-founder and co-CEO of Robinhood Vladimir Tenev speaks onstage during TechCrunch Disrupt NY 2016 at Brooklyn Cruise Terminal on May 10, 2016 in New York City.
- Inside Robinhood, the free trading app at the heart of the GameStop mania
- LIVE UPDATES GameStop suddenly tumbles, losing more than half of its value after surging earlier in the day
- A wild ride: Robinhood shuts down GameStop trades, sending stock into a tizzy
- American Airlines: The latest GameStopped company
- FAQ: GameStop’s stock is blowing up, thanks to Reddit. Here’s why
- WallStreetBets founder: I’m enjoying this from the sidelines
- #StopTheSteal: Once devoted to election fraud, is now filled with angry traders
- Everyone is watching: Where does the GameStop mania end?
- Gone private: Reddit forum briefly goes dark, adding further confusion
- Gamestonk: Elon Musk tweet fuels frenzied GameStop surge
- AMC: A Reddit mob sent its stock more than 200% higher
- ‘Wolf of Wall Street’ author: GameStop frenzy is a ‘modified pump and dump’
- MORE TOP STORIES
- Facebook’s ‘supreme court’ just ruled against Facebook
- International police effort takes down ‘world’s most dangerous’ malware network
- GM to sell only emission-free vehicles by 2035
- Europe has a vaccine shortage. So why is it fighting with AstraZeneca?
- 2020 US economy shrank the most since 1946
- What traveling by hyperloop might be like
- Tesla Model S upgrade comes with super fast Plaid Mode and 520 miles of range
- How to save money on your groceries
- 2021 just got worse: Now there’s a Grape-Nuts shortage
- Buh-bye, skinny jeans: Levi’s embraces baggy
- Bumble bans body shaming
- ABC News president James Goldston is stepping down
- Fired Fox News political editor calls out ‘hype men in the media’ who helped Trump attempt to ‘steal an election’
- Bloomberg Best of the Year 2020: Southwest Airlines Co. aircraft sit in storage during the Covid-19 pandemic at a field in Victorville, California, U.S., on Monday, March 23, 2020.
- Southwest Airlines reports first loss in 48 years
- Boeing closed the books on its worst year ever
- Boeing’s troubled 737 Max is back in the air
- Transportation workers forced to brink of starvation
- Americans are buying cars again
- A customer holds a new Apple Inc. iPhone 12 Pro at an Apple Inc. store in San Francisco, California, U.S., on Friday, Oct. 23, 2020. The iPhone 12 and iPhone 12 Pro went on sale in stores, but with individual shopping sessions replacing the famous lines and crowds around locations.
- You should update your iPhone and iPad right now. Here’s why
- Apple now lets you take a ‘walk’ with Dolly Parton
- A look at Samsung’s new Galaxy S21 lineup
- Transparent TVs are the cool new tech trend
- See LG’s transparent TV
Headlines from right-of-center Newsmax
Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus –
Where Business, Politics and Investing Can Meet
Left-of-center CNN reported on 1.28.2021 the following.
“#StopTheSteal, once devoted to election fraud, is now filled with angry traders”
It goes without saying that left-of-center CNN’s bias against President Donald J. Trump and thus for President Alleged Joe Biden is apparent. That noted, by using a scalpel on their report to carve out their bias, an insightful report emerges.
“A hashtag once devoted to [alleged election fraud]…about the 2020 election has now been taken over by investors fuming over the decision by online brokerages to restrict trading of shares of GameStop and other volatile stocks.
On Twitter, #StopTheSteal…having been inspired by a now-banned Facebook group of the same name.
But on Thursday, as Robinhood moved to limit purchases of GameStop, irate Twitter users called for the stock trading app to “stop the steal” that is allegedly underway on behalf of hedge funds and at the expense of the retail investors (and Reddit users) who had driven up GameStop’s share price.
The hashtag is now filled with angry traders.
“When working class people lose money in the market it’s CAPITALISM,” wrote one user. “When a hedge fund loses billions because the working class played the game better then it’s STOP THE TRADING.”
“#STOPTHESTEAL OF EQUITY (ECONOMIC CAPITAL) FROM THE RETAIL INVESTOR,” wrote another.
…it underscores just how quickly conditions can change on social media.” Perhaps the more apt point would be that it underscores that the “System is Rigged,” as several politicos across the left-right spectrum have said.
Nigel Green on right-of-center Newsmax, reporting on the same topic as CNN, said the following.
“A group of users of Reddit, the social media platform, turned the tables on Wall Street on Wednesday, pushing up the prices of previously unloved stocks in firms such as aging video games high street chain GameStop.
The Reddit community r/wallstreetbets, which has 2.8 million members, was urging members to keep pushing the stocks higher with the aim of putting the squeeze on investment funds Melvin Capital and Citron Research, which had placed bets for the money-losing stock to continue to fall.
It seemed to have worked. Despite no material change in the firm’s unstable position, GameStop shares climbed from just $18 two weeks ago to a high of $380 on Wednesday.
Citron Research acknowledged Wednesday in a YouTube video that it unwound the majority of its bets against GameStop’s share price, taking “a loss, 100%” to do so. Melvin Capital is also pulling its resources from short positions on GameStop shares.
But come Thursday morning, the saga had taken a surprising twist, with shares down 20% in after hours trade after the Reddit investor forum closed to the public temporarily.
Reddit moderators closed the wallstreetbets forum to make adjustments after it was blocked on chat app Discord due to obscene content.
“We blocked all bad words with a bot, which should be enough, but apparently if someone can say a bad word with weird unicode icelandic characters and someone can screenshot it you don’t get to hang out with your friends anymore,” read a message from the group’s moderators after wallstreetbets reopened.
Discord said its decision to close the forum had nothing to do with its effect on share prices.
“The trading frenzy has spread globally and has led to a White House alert,” reported the BBC.
I would urge investors to exercise the utmost caution before joining social media-led stock frenzies of this nature. The valuations can be expected to be extremely wild – in both directions – and there’s a legitimate risk that investors could get burned.
This is being pitched as a battle-play of Wall Street or The Square Mile versus The Little Guy. However, this is not typically the way reasoned, savvy investors should strategize to create and build their portfolios in order to reach their financial goals.
Earlier this week, I [Nigel Green] noted that in today’s landscape, “it is not the macro-bubble of which investors should be wary.”
I wrote on Newsmax: “Any potential bursting of bubbles is likely to be within specific stocks, so unlikely to rock the global financial markets as has happened previously – but individual investors could still be caught off-guard.
“Micro-bubble spotting, and diversification across asset class, sector, region and even currency, should become a priority for investors right now.”
As ever, investors should work alongside a good fund manager to seek out those stocks most likely to generate and top-up their wealth over the long-term.
I would avoid being drawn into the hysteria driven by social media.”
MHProNews advocated almost 2 years ago that certain big brands should be broken up under antitrust laws. Once someone understands how the ‘system is rigged,’ one of the key solutions that is needed is to use antitrust law to break them up.
Related, Recent, and Read Hot Reports
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
- NOTE: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm. Thus, there is still periodic activity on DVLY.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our 11th year of publishing, and is starting our 12the year of serving the industry as the runaway most-read trade media.
Sample Kudos over the years…
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
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Disclosure. MHProNews holds no positions in the stocks in this report.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.