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A bailout would sacrifice freedom for dependency
The Austin American-Statesman, Austin, Texas ^ | 2008-09-30 | Jeff Sandefer

Posted on 09/29/2008 10:23:07 PM PDT by rabscuttle385

Throughout our nation's history, the size and scope of government has grown by leaps and bounds during times of crisis, financial or otherwise. The political class' natural instinct is for government to rush to the rescue, particularly when an election is near. The current financial meltdown appears to be no exception, as our government responds with a $700 billion taxpayer-funded bailout proposal that was at best a Band-Aid and at worst a more deadly strain of the same disease.

Rather than punishing taxpayers, an array of smarter options is at the government's disposal: abandon cheap-money policy; remove financial incentives that make home purchasing so easy for those who don't yet have the means to own a home; let solvent firms naturally emerge from the mess while firms without sound business models go under; just to name a few.

Many people have played into the hands of big-government apologists by arguing that free markets are "better" because "they work," rather than defending freedom as a fundamental, God-given right for everyone.

I was fortunate to be with Margaret Thatcher once in England when she reminded a group of Americans fretting about a temporary dip in the stock market: "The most important word in the phrase 'free markets' is not the word 'markets.' You cannot justify your freedom based on today's Dow Jones Industrial Average." Her words ring true, as Bush appointees scramble to stoke the engine of our economy by tossing in ever-larger quantities of our tax dollars and freedom.

Charging the Federal Reserve, investment bankers, and politicians to "solve" this crisis is like deputizing arsonists to fight a wildfire. The central enabler is the government, with Wall Street hucksters as eager accomplices. It's time to let the market sweep away decades of excessive leverage and loose monetary policy.

Worrying about a repeat of the Great Depression is a valid concern. But check out hyperinflation in Germany in the 1930's or Zimbabwe in 2008 before you decide that flooding the world in dollars is a better idea. Free from intrusive governmental tinkering, markets will clear soon enough, even if it means many speculators are wiped out.

Pouring in more government dollars into bailouts may rescue a few Wall Street bondholders, but it will only harm the average American. In the end, vesting large amounts of economic power in a few government officials simply is a bad idea. It won't work any better here than it did in the former Soviet Union. The world economy is too complex to be managed in a top down fashion, even by a Wall Street dealmaker and a Princeton economist.

Benjamin Franklin once warned: "Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety." The seeds of this problem were sown long ago, and the financial bill will be paid one way or another. The only question is how much freedom Americans will lose in the process.


TOPICS: Business/Economy; Editorial; Government; News/Current Events
KEYWORDS: acton; austin; bailout; financialcrisis; lp; mba; sandefer; utaustin
Sandefer is the founder of the Acton School of Business and serves on the board of directors of the Texas Public Policy Foundation.
1 posted on 09/29/2008 10:23:08 PM PDT by rabscuttle385
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To: PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; Roy Tucker; GOPJ; dervish; ...

The Money, Banking, and Financial Markets Ping List.

FR Keyword: moneylist

This can be a high-volume ping list at times.

To join, send Freepmail to rabscuttle385.

2 posted on 09/29/2008 10:23:41 PM PDT by rabscuttle385 (No to bailouts, no to amnesty, no to carbon credits, no to Big Government!)
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To: Sunnyflorida; 6323cd; roamer_1; AmericanInTokyo; 383rr; djsherin; GunsareOK; calcowgirl; ...

.


3 posted on 09/29/2008 10:24:36 PM PDT by rabscuttle385 (No to bailouts, no to amnesty, no to carbon credits, no to Big Government!)
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To: rabscuttle385
Socialism has NEVER worked anywhere. The political class in Washington is ignorant of the lesson that government is the problem; not the solution. The American people do get it! Freedom and capitalism are both sides of the same coin.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

4 posted on 09/29/2008 10:26:21 PM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: rabscuttle385

The Hegelian Principle:

You remember the steps: The first step (thesis) is to create a problem. The second step (anti-thesis) is to generate opposition to the problem (fear, panic, hysteria). The third step (synthesis) is to offer ** the

solution ** to the problem created in step one, -— change which would have been impossible to impose on the people without proper psychological conditioning achieved in stages one and two.”

Gramsci is laughing.

WHO WAS ANTONIO GRAMSCI?

Antonio Gramsci helped found the Italian Communist Party. Imprisioned by Mussolini, Gramsci spent the last 9 years of his life in prison. While in prison, he wrote nine volumes of observations on history, sociology, Marxist theory and strategy. These volumes, collectively known as “The Prison Notebooks”, contain a strategy that promises to win the world to Marxism voluntarily. In order to do that, Gramsci suggests that strong Western democracies can only be taken by infiltration of the organs of their culture: churches, education systems, newspapers, magazines, the electronic media, and other works of serious literature produced in those democracies. Disillusioned by the brute force of Russian Marxism, but still embracing Marxism as the correct system to be pushed on the world, Gramsci reasoned that a system enacted by force would eventually weaken, but a system sold to a people through their existing institutions would eventually be embraced and spread as if it were naturally a people’s own.

STEPS IN THE PROCESS

1) Turn churches into ideology-driven political clubs.

2) Replace genuine education with a dumbed down and politically correct curriculum.

3) Fashion the mass media into instruments for mass manipulation and for harassing and discrediting traditional institutions and their spokesman.

4) Ridicule morality, decency, and age old virtues without respite.

5) Present the youth, not with heroic examples, but with aggressively degenerate behavioral models.

6) Attack the very building blocks of a moral society: attack marriage and family in order to subvert the social order.


5 posted on 09/29/2008 10:36:04 PM PDT by Califreak (Rome is burning and nobody cares)
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To: goldstategop

Pelosi plotted to kill the Bill and crash the markets .
Read all about it.
http://gatewaypundit.blogspot.com/


6 posted on 09/29/2008 10:39:14 PM PDT by ncalburt
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To: ncalburt

She sure did. She is EVIL. Now they will try to bring back more of their special-interest hidden agenda stuff and try to ram it through. Unfortunately, the President is willing to sell us down the river.


7 posted on 09/30/2008 4:16:02 AM PDT by Heartland Mom (Those who would give up liberty for temporary safety deserve neither liberty nor safety. - Franklin)
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To: Califreak

Sounds similar to the 45 communist goals that were laid out in 1963 I believe. Scary stuff, along with repeat a lie enough and it becomes the truth.


8 posted on 09/30/2008 5:08:45 AM PDT by djsherin (The federal government: Because your life isn't screwed up enough!)
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To: Heartland Mom

Unreal isn’t it.


9 posted on 09/30/2008 6:48:35 AM PDT by ncalburt
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To: djsherin

What’s even scarier is we’re almost there.


10 posted on 09/30/2008 6:56:32 AM PDT by Califreak (Three Bank Monte-confidence artistry of the elite)
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To: djsherin

I heard there were 63, but I can’t find the list.


11 posted on 09/30/2008 7:03:26 AM PDT by Califreak (Three Bank Monte-confidence artistry of the elite)
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To: Califreak

The year was 63. There were 45 goals. Here’s the link:

http://www.rense.com/general32/americ.htm

And here’s another link of goals straight from the Manifesto comparing how similar we’ve become:

http://mises.org/story/177


12 posted on 09/30/2008 7:46:06 AM PDT by djsherin (The federal government: Because your life isn't screwed up enough!)
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To: rabscuttle385

B-U-M-P everyone’s accusing me


13 posted on 09/30/2008 7:47:31 AM PDT by Skooz (Gabba Gabba we accept you we accept you one of us Gabba Gabba we accept you we accept you one of us)
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To: bamahead

ping


14 posted on 09/30/2008 7:50:09 AM PDT by rabscuttle385 (No to bailouts, no to amnesty, no to carbon credits, no to Big Government!)
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To: djsherin

Thank you


15 posted on 09/30/2008 8:36:31 AM PDT by Califreak (Three Bank Monte-confidence artistry of the elite)
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To: rabscuttle385; Abathar; Abcdefg; Abram; Abundy; akatel; albertp; AlexandriaDuke; Alexander Rubin; ..




Libertarian ping! Click here to get added or here to be removed or post a message here!
16 posted on 09/30/2008 9:29:58 AM PDT by bamahead (Few men desire liberty; most men wish only for a just master. -- Sallust)
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