Posted on 11/19/2008 9:20:23 AM PST by UltraConservative
YES! Look at the power GWB gave to democrats. Economic Freedom republicans are demoralized, completely unrepresentative. His father never dug us a hole this deep, we had a chance 16 years ago.
I pray GWB doesnt hand democrats anymore power and moral authority before he leaves office.
Pray for President Bush and America - Day 2989
| November 19, 2008 | Faith
http://www.freerepublic.com/focus/f-news/2134681/posts
Speak for yourself, Ben. Anyone with a functioning brain cell and any concept of capitalism and what America is supposed to be was against that boondoggle from the moment they heard about it.
We're doing it again.
Many people have told me that "I just don't get it" and "If we don't do something, it could get really, really bad". I'm just not buying it. I'm a Conservative. I have faith in markets. Having some central authority step in and nationalize failing businesses (banking, autos, etc.) just is NOT going to seem like a smart idea to me.
The government needs to cut regulation and cut taxes and then just sit there.
I agree with the premise of the article which, as I interpret it, is that “bailouts” and “handouts” constitute nothing more than moving dollars around within an economy - and in many cases doing so with horrible inefficiency. It does nothing to create wealth which is the panacea to recession. Wealth is created by increased productivity - not movement of money. Movement of money is the byproduct of increased productivity. Pushing already existing money through nonproductive channels only exacerbates the problem.
I personally advocate a wage system based on productivity - even if it can only be estimated as is done in job performance reviews - with a base minimum stipend salary. Combined with the engine of capital, this makes economies grow faster than anything else.
Agreed. We’re still operating on the “too big to fail” premise, and this was one of the problems of 1900 to 1930. The Titanic wasn’t too big too sink and WWI wasn’t so big it made wars unthinkable. AIG isn’t too big to fail; GM isn’t too big to fail, and the US Government isn’t too big too collapse.
possible ping
“Great stuff.”
No question. Sadly, Paulson is going to look like a genius compared to the folks about to take charge next January. Historians hopefully will someday explain the pandemic of wishful thinking that has infected the public and policymakers during this strange political season. Obama has ginned up hopes far beyond the capacity of even a competent president to deliver, much less one so lacking in experience or bold decision-making.
And the very same capacity of Obama’s voters to ignore common sense and the lessons of history in favor of grandiose promises and empty platitudes underlies the willingness of others to believe that a “saviour” like Henry Paulson can spare us from the harsh economic medicine that Ronald Reagan and Paul Volcker dispensed (with great success!!!! How quickly we forget!) a quarter century ago.
Who's 'we' kimosabe?
L
Would have gotten more of a benefit just handing the bailout over to the pirates from Somalia than these guys and gals. I don’t get what the problem is with going bankrupt. Sure no one and no company should want to go bankrupt and it is a long drawn out paper intensive thing and you betcha some creditors will get screwed but it truly seems the only way that doesn’t break the country and there would be accountability and transcparency in a bankruptcy court and some of the crappy CEO’s will have to go. Maybe that’s why they are afraid of —accountability. I can’t believe Barney was saying crap about bankruptcy with His Excellency was hollering about changing the bankruptcy laws (something his VP helped changed)to protect more consumers and fools who didn’t read the mortgage agreement they signed or couldn’t read since they were illegal aliens. Bankruptcy is in our constitution unlike other countries and it is there to help the debtor and keep the business going so the world continues to go. If they can’t make it happen in bankruptcy court, then they don’t need to exist. Sure no one likes it but bankruptcy would solve the issue of the automakers easier, more efficiently and would free up those bailout funds for more useful purposes like Somalian pirates (just a joke—wasn’t supportive of the bailout myself). If they won’t go bankrupt, their creditors should make do the involuntary bankruptcy on them.
Pushing around NON-EXISTENT money exacerbates the problem to the max.
Yep - which is what happens when the Fed adjusts rates. It just either slows money printing or speeds it up beyond the amount justified by the overall worth of the economy. Pushing non-existent money just drives inflation.
OTOH - increased productivity increases wealth which in turn increases the REAL dollars in circulation. Another way of saying it is that you are robbing from Peter to pay Paul; and in the process no new wealth is created. So the economy overall is unchanged.
Hear hear!
Two primary ingredients to increased productivity:
1.) increased human motivation (working harder, better and longer)
2.) technological innovation in capital (increased automation)
You can’t legislate either
I get a surpising number of angry responses for comments like that. A small number of loyalists really insulate themselves with defensive rationales like,”the democrats forced him to do it”
Will we be stupid enough to believe them again?
We, The People did not fall for this bait & switch fraud. It was the idiot Congressmen. The People told them in no uncertain terms to kill the bailout. But Congress just couldn't resist meddling (and lining their pockets).
And yes, Congress will fall for it again...just like they did to cause the Great Depression.
Thanks Congress and President Bush...for putting us on the Highway to Hell!
well said.
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