printThe American economy is being socialized. The government has nationalized the mortgage market and a good chunk of the investment banks. No principled argument is offered against the government acquiring a share of the auto industry. The debate hinges only on whether the government’s growing “investment” portfolio will solve the “problem” or not.
Government intervention in the economy invariably results in a complete takeover. Consequently, once it was agreed that this one industry, GM, was too vital to fail, the government went on to specify the conditions of the baleful bailout. The political ponces—the people who do nothing but sap the productive economy—want to see a viable business plan, no less.
The public and the experts don’t think to question the State’s financial savvy–its ability to “plan” a viable industry. Where is the money coming from—this too is never asked. The soundness of borrowing or printing funny money out of thin air to implement the grand plans—this is never doubted. (Except by Ron Paul.)
Public works and big-time spending by government are planned as ways to get the economy going. Even Lou Dobbs, The Independent, fails to question Paul Krugman, the Keynesian commie, as to why more credit expansion and spending is key to recovery.
Note: Every economist touting the Keynesian twaddle of spending ourselves out of the recession is speaking the language of politics, not economics. The laws of economics are natural, immutable laws. The government, like the average Joe and Jane, can’t spend itself out of bankruptcy. (Try suggesting that to your banker, won’t you?)
With its capacity to inflate the economy with worthless fiat money, all the state does is pacify some politically powerful debtor sectors, to the detriment of politically powerless creditor sectors and other solvent citizens. At least we can hope that’s all they’ll do: The difference between Generic Joe’s insolvency and the government’s is that the first will not bring down the entire country.
A good guide to the perplexed is Mises.org’s “Bail Out Reader.”
“The American economy is being socialized.”
With the seeming “consensus” with which all this is being implemented/accepted, it leads one to wonder if there is not something to all those “conspiracy” theories about what actually transpires at those “special” gatherings, such as take place at Davos, etc.
In other words, in some (very important) circles, the question seems to have been “when” — and not “if” — the US economy will be socialized as a precursor to its (further) integration with the “world” economy.
About Obama and Israel and surrender to Palestinians, what does it say about Jewish-Americans who evidently voted overwhelmingly for Obama for President? Apparently they must agree with the idea of surrender to Palestinians, since it was obvious Obama would take the liberal line.
(1) On the economy: A job “saved” at General Motors Detroit making a Buick is one less job “created” at Toyota Kentucky making an Avalon (e.g. Bastiat) and actually is a net loss since the Buick is less capable and more inefficient than the Avalon since the political system is performing against the tendencies of the free market // (2) On Israel for Ilana and Tom M: Is Israel a puppet government like Thieu’s “South Vietnam” or Honecker’s “East Germany”? Or is Israel a sovereign nation? If the latter, it should stop groveling for handouts from Messiah Hussein and act like a nation. And if Tzipi Livni and the Knesset want to turn Jerusalem into Al-Quds or Tshwane, that is ISRAEL’s mishigash and all the Jews can close shop and emigrate to Brighton Beach // (3) On private school for Radiance and Rosebud a.k.a. Malia and Sasha: the main differences between Ballou H.S. in DC and Thomas Jefferson H.S. in Fairfax VA are the students, not the teachers or curricula. President and Mama Messiah don’t want their girls slumming out with the lower class “sistahs” and, as a daddy of a 12 year old, I can’t blame them.
Have you seen the Time magazine cover photo of Obama morphed into FDR? It’s quite appropriate; both are communists. This depression will be much longer and more severe than the depression of the 1930s.