Tuesday, April 28th, 2009...11:07 pm
One Interesting View on America’s Economic Future
I found this note in my inbox the other day from a colleague in my office. We often chat about current events, politics and sports so I have a pretty good idea of his views. As I’ve grown to distrust the media more, I’ve been consuming much more of my news and politics through colleagues, friends and family. Yes, I realize it is totally biased but I recognize and appreciate the filter (depending, of course, on who it is coming from). Needless to say, this email was written by a conservative thinker. Regardless of if you agree with him or not – you got to tip your hat for his creative and entertaining rant.
I’ve added a few links within the article. Attached to this email was this op-ed by Dick Morris. Feel free to respond in the comments or send me your own riff and I’ll be happy to post it as long as it’s entertaining, clever and not too offensive.
OK, now we ARE socialist.
The President wants to convert the government stock it owns in our banks from preferred (non-voting) to common (voting)… MEANING the government will now be the largest voting member (in many cases, with a majority of votes) of each of the 500 banks and institutions under the TARP program.
This will mean, straight up, that the government now runs our banks and financial institutions… so it will be the decider of who gets loans, at what rates, etc. And the banks will be used to direct all social policy. That’s hardly a stretch – it started last year under Bush! We learned this week Paulson strong-armed B of A into taking toxic Merrill Lynch assets last year – see page one of yesterday’s WSJ. My guess: We Ain’t Seen Nuthin’ Yet!
If you believe in the wonders and effectiveness of big government, smile!, because we’re going to spend, spend, spend in pursuit of the socialist utopia now – and rive all lending based on socialist ideas. Maybe the ultra-liberal left is right – maybe there will be unicorns! and rainbows! and candy dropping from the sky (ft. T-Pain)! We’ll all hug it out! Slay the unborn with taxpayer money! Fart hybrid gas! Drive Segways! And fight our enemies with the flower power. Kumbaya! Oh – and everyone will get a trophy, too.
So what does history tell us about government intervention – by any political party – in economies?
Government intervention in centralized banking was one of the most provable, man-made disasters of the 20th century. Ask Russia. Or China in the 40s, 50s, 60s, etc.. Or Eastern bloc countries. Or Latin America. Or Spain. Or Italy. Or France. Or, more recently, Japan, who had a disastrous 1990s dominated by central planning. IT DOES NOT WORK, because it artificially impedes free markets from adjusting. This is obvious to anyone with a functioning brain.
When you take money out of the private sector and give it to the gov to spend, you take $ out of the shallow end of a pool, put it in the deep end and expect the pool’s water level to rise. IT NEVER happens. What DOES happen is spillage, loss to new bureaucracies, and misdirection of $ that would be better spent in free markets, instead of propping up zombies like Detroit and Wall Street firms like AIG.
Government intervention in the US economy, in EVERY case – printing more money, orgy of free credit – preceded the U.S. market collapses of 1819, 1830, 1856, 1921, 1929, 1937-38… plus the more recent 1980s savings and loan, 1990s tech bubble and 2000s housing bubble. But hey, for shits and giggles, let’s have at it again – except now with MORE MONEY and total government control of the banks. “That sounds like a great idea – let’s do that!” said a man getting a BJ from a syphilitic whore (no, not Clinton).
I know… I know… I know… Bush started it. The Fed policies during the Bush years were terrible; Greenspan gave us a free credit orgy; Paulson and Bernanke gave us TARP/Stimulus… but now… we are pouring gasoline and napalm and C-4 on the fire.
Obama is pushing America’s economy over the cliff. April 24, 2009 is the day America officially lost its mind. This is a spectacular overreach by the administration, blessed by a complicit left-wing media… and America will regret it.
In 100 days, Obama has killed 230 years of capitalism. Amazing.
Looking forward… conservative thought crime will probably be punishable next month. But hey — at least I won’t be tortured, and will have a lawyer, a shrink and a doctor present. So that’s looking up.