This is just dandy. One would pretty much have to be a blind, state-worshipping d-bag to not realize the Fed played a major role in the financial crisis. But as it goes, the government is spectacular at rewarding failure and punishing successs. So I guess this is, unfortunately, no surprise. Unfortunately, as Judge Andrew Napolitano asks, “who will regulate the Federal Reserve?” Apparently no one.

As seen in Part 1, political terms, such as liberal, conservative or libertarian, are muddled enough. Unfortunately, political organizations, popular terms and ideologies have many of the same issues. The political parties in the United States have gone through whole sale shifts in political ideology. Republicans used to be the party of tariffs and protectionism, now they are avid free traders. Democrats were the party of slavery and Jim Crow, before becoming the party of Civil Rights and Affirmative Action.

What this whole mess elucidates is, as far as politics (and subsequently, economic policy) are concerned, actual positions are of little importance. All that matters is that you root for your team, be they Democrats or Republicans. Thus, we see Fox News begin to attack every push for increased state power, while MSNBC defends such policies. Under Bush, it was the opposite.