Posted on 07/08/2009 8:12:08 AM PDT by decimon
The financial system collapsed. Housing prices cratered. Unemployment is at a record high for the last quarter-century. The Democratic president has a solidly positive job rating.
And yet we Americans have not suddenly become collectivists. The economic distress of the 1930s led Americans to favor less reliance on markets and more on government. The economic distress of the 1970s led Americans to favor less reliance on government and more on markets. It doesn't seem unreasonable to expect, as many political liberals have been predicting, that the economic distress of the late 2000s will produce a shift in the 1930s direction. But it doesn't seem to have happened yet.
Or so the polling evidence tells us. Last month's Washington Post/ABC poll reported that Americans favor smaller government with fewer services to larger government with more services by a 54 to 41 percent margin -- a slight uptick since 2004. The percentage of Independents favoring small government rose to 61 percent from 52 percent in 2008. The June NBC/Wall Street Journal poll reported that, even amid recession, 58 percent worry more about keeping the budget deficit down versus 35 percent worried more about boosting the economy. A similar question in the June CBS/New York Times poll showed a 52 to 41 percent split.
(Excerpt) Read more at washingtonexaminer.com ...
Since most of this mess was caused by Democrats (CRA, pushing F&F to purchase “affordable” housing, etc), I am not surprised that some have lost faith.
None of this would have happened if home buyers had been required a 20% downpayment.
Someone should tell the American public the truth about ‘debt deflation’ (same as 1929) instead of making them believe the government can fix it. There is no other solution than to allow the American public to solve the problem. The government interventions are causing moral hazzards such as people capable of paying their mortgages walking away because they only see a ‘loss on their investment’ in their homes.
This is gonna get ugly!
This will be a very, very interesting Christmas shopping season. I make this observation now because this is the season when merchants are placing their Christmas orders. My guess is that this will be one of those events which “government experts” will claim is “not as bad as we anticipated.”
“This will be a very, very interesting Christmas shopping season.”
I think painted rocks will be the big gift of the year...
You're going to be able to afford PAINT?
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RESISTOR
Swear allegiance to the flag, whatever flag they offer;
Never hint at what you really feel.
Teach the children quietly for, someday, sons and daughters
Will rise up and fight while we stood still.
Der Elite Møøsënspåånkængrüppen ØberKømmändø (EMØØK)
My wife is knitting me a scarf.
I’m making her a cutting board out of hardwood scraps I’ve had around for years.
The power grab by Obama is forever going to expose the frauds and enemies of freedom and capitalism.
GOOD! Maybe they’ll rethink the idea of voting for their liberal Democrat for Congress in 2010.
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