SHOCKING, REALLY

Posted in Quick Hits on September 21st, 2014 by Ed

There is nothing quite as entertaining as watching libertarian-objectivist types try to leave the wicked world behind to establish a utopian community based on their sophomoric ideology. No comedy writer could draw up a better premise than a group of self-worshiping sociopaths who reject the idea of community…forming a community. An isolated one at that, completely devoid of effective regulation. After the enterprise (invariably named after some stupid Atlas Shrugged reference) fails spectacularly, the internet gets to feast on pictures of empty lots and half-built homes in Libertarian Paradise.

The latest such tale, of "Galt's Gulch" in Chile, takes it to the next level. It was your basic real estate scam, with one Heroic Individualist / developer organizing the effort and soliciting investors. These "extremely savvy investors" – actual words – handed over their nest eggs despite the contractual arrangements involved being essentially unenforceable.

Despite their rugged self-reliance and loathing of all government, the investors certainly were quick to run back to the U.S. to start filing lawsuits in Federal court. It's funny on so many levels.