`I nationalize strategic companies and get criticized, but when Bush does it, it's OK,'' Chavez said on weekly television program Sept. 21. ``Bush is turning socialist. How are you, comrade Bush?''
Posted on 10/04/2008 4:33:24 PM PDT by Toddsterpatriot
The bubble pops. Lenders freeze. Depositors lose faith. Panic spreads. And the government steps in because nobody else will.
Today it is Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke putting together the rescue package for a financial system rocked by falling home prices and a wave of defaults on subprime mortgages.
But a short walk through U.S. history demonstrates the point made by Alex J. Pollock of the American Enterprise Institute: "If you would like an empirical law of government behavior, it is that in a panic or threatened financial collapse, governments intervene -- every government, every party, every country, every time."
(Excerpt) Read more at online.wsj.com ...
Ping!
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Obama Says A Baby Is A Punishment
Obama: “If they make a mistake, I don’t want them punished with a baby.”
The WSJ found a form of government intervention they can live with.
First, kill all the bankers.....LOL!
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One could say this whole story is a bit of a stretch. And they are completely wrong on the S & L mess, it was caused by congress changing the depreciation schedule.LOL
That financial socialist!!
/sarc
ping for later
Some people will never learn.
In view of the current government bail out of the financial industry how can Obama pretend that he can promise change on the taxpayers time.
Obama healthcare plan = Radical, Reckless and irresponsible waste of tax dollars.
obama Social programs = Radical, Reckless and irresponsible wast of tax dollars.
Obama Education programs = Radical Reckless and irresponsbile waste of tax dollars.
McCain should call for a spending freeze.
Obama will destroy the military in order to carry out his socialist agenda that is why ASSOCIATIONS matter.
I missed that. One of our favorite clowns? Or a new one to laugh at?
A major reason for the Constitutional Convention in 1787 was Shay’s Rebellion. The rebellion occurred when farmers in Massachusetts became enraged over imprisonment by many would could not pay high taxes due to Revolutionary War debt.
The rebellion was put down, but the Framers recognized the need to resolve the debt. The government lacked this power under the Articles of Confederation, so they granted it in the Constitution and the federal government assumed the debts of the individual states.
He omitted the first link in the chain: government creates the bubble.
Maybe that's a more recent occurrence?
Which companies did Bush nationalize?
Especially since much of that debt consisted of notes paid to them as wages when they were soldiers and which they had had to trade at heavily discounted values because no one wanted US notes. Now the state was trying to redeem the notes at full face value by taxing the very men who had been cheated with the notes to begin with.
I'd get my gun too.
It was an EPI driveby. Managed to hijack the thread, though. We were talking about unfunded Social Security and Medicare liabilities, and the next thing you know Lew Rockwell is involved and people are trying to stick it to the robber barons to prevent the spread of socialism. I can find it, give me a minute.
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