My Head is Spinning
I am on vacation this week, so blogging will be light. Just as well, as I have absolutely no idea where to begin with the Federal plan to semi-nationalize the banking industry. I fear that the Bush administration has done it to us again. Economists will be poking through this situation years from now, and may well find the bunkers empty of WMD's. Another trillion dollar commitment and unprecedented expansion of executive power ramrodded on the back of fear mongering and chicken-little crisis declaration. Henry Paulson screams to the world that the sky is falling, and then wonders why he can't stop the panicked stampede. The Fed breaks the discount window wide open and promises to lend and recieve near infinite amounts of bank funds, and then wonders why banks have stopped lending to each other and only will do business with the Fed.
Flash Gordon:
Bush can't be gone soon enough. Not that what we'll get after that will be any better.
October 13, 2008, 8:51 pmKrugman - Leftist darling gets rewarded:
And the icing on the cake: Paul Krugman gets awarded a Nobel prize in economics. How perfect is that?
October 13, 2008, 9:42 pmJohn:
How long before congress passes a law -- or tags an amendment onto some huge, must-pass bill -- that says if the government has ANY ownership stake in a company, no matter how small, then the company must abide by certain rules, be they environmental, labor, social, whatever? Pandora's box has certainly been opened this time and it may spell the end of (semi-)free markets as we know them.
October 14, 2008, 8:13 amReformed Republican:
Boy. Who could have predicted the way regulation would gradually lead to Nationalization.
October 14, 2008, 9:32 amReformed Republican:
That was supposed to have a link to the wikipedia article on The Road to Serfdom, but I fail at message board tags.
October 14, 2008, 9:33 amhttp://en.wikipedia.org/wiki/Road_To_Serfdom
Methinks:
John,
What makes you think this hasn't already happened even without the ownership stake? Regulation is an indirect control of the means of production and there's no shortage of regulation.
October 14, 2008, 2:34 pmJim Collins:
John. This has already been going on for years. Just ask any company that does government contracts. The Left wants you to think that $900 hammers are corporate greed, the reality is much different.
October 15, 2008, 9:09 amSteve:
Great post and great site you have!
Would you like a Link Exchange with our new blog COMMON CENTS where we blog about the issues of the day?
http://www.commoncts.blogspot.com
October 15, 2008, 10:59 amAlaska Guy:
I gota say I am beat.
October 16, 2008, 12:06 pmIn 3 weeks the wag the dog media will have succeeded to fill all three branches of government with Democrat control. This will ensure Socialism. The sheep who pretend to have knowledge but in reality regurgitate the Progressive movement’s talking points as if it were truth will upend the USA as our parents and grand parents knew it. JFK’s Democratic Party would be viewed as NEO CON today! This is truly the weakest, standard less and apologetic generations of adults I have seen represent my once proud country. Please do not send you Gods, like Jimmy Carter to ensure clean elections in 3rd world nations anymore, the one man one vote has been high jacked by dictators by committee. ACORN ,,,, Super Delegates ,,,,,And Hollywood California will lead this nation straight to the JAWS OF THOSE WHO WILL HARM OUR CHILDREN. I honestly never thought I would see such a bunch of sheep, with zero original thought and lack of understanding of what WW2 Gen shed their blood for. It makes perfect sense that we needed to wait until that generation was passed away before entering this phase of the Communist Manifesto. If what I just said pisses you off, I am glad, the truth hurts! And independence has nothing to do with CNN, PBS, Keith Oberman and a melding pot afraid of being name called! IE Racist, Homophobe, and Capitalistic Pigs! Term Limits for Congress and Senate because they are 66% of all these problems! 3 branches and two of them act like Royalty.