Posted on 10/30/2008 5:27:40 AM PDT by kellynla
After the September financial meltdown, many abroad, and some at home, immediately -- and with undisguised glee -- blamed America's problems on cowboy excess and forecast the end of American global influence.
But while those opportunistic critics had a point that reckless Americans had taken on far more debt than they should, the growing global economic downturn may well hurt others far more than the United States.
We got into this mess not because the American political system was flawed or because its free market system was stagnant. The problem was that after some six years of uninterrupted growth, human greed drove us to demand even more than we had earned.
Republicans let fast-talking Wall Street gurus gamble their firms into oblivion. Democrats allowed politically correct Fannie Mae and Freddie Mac bureaucrats to siphon off bonuses while guaranteeing loans to millions who had no business taking out a mortgage.
We, the people, ran up credit cards, borrowed for overpriced houses and drove gas-guzzling cars fueled by high-priced imported fuel. The result was a national-debt flu -- but not a depression cancer -- that sickened an otherwise healthy host.
Why then would America in recession still be in better shape than others?
(Excerpt) Read more at realclearpolitics.com ...
I thought I’d help you out today.
Great article by VDH!
“But as we return to American fundamentals ...”
There won’t be much return to American fundamentals if Obama and the Democrats control all branches of government...
If we get Hussein and he gets 66 votes in the Senate we could have USSA (United soviet Socialist America) in a year and with that an economy in relentless decline. Hussein O’Bama is The Revolution finally in the Capitalist Bastion. Trotsky was right. A society has to reach the Capitalist pinnacle before the Revolution! can bring permanent Socialist Utopia. That’s because Capitalism has to build first a society that can and does support a high percentage of drones, a “poor” underclass that doesn’t have to be productive because the society supports it in what would be luxury in much of the rest of the world, and an intellectual class that does no real work and spends its time and energy dreaming up ways for the productive part of society to be expropriated for the benefit of the intellectual class and their hobby of building Utopia.When that class has captured the Educational institutions and the bureaucracy of the Capitalist society, then the Revolution can occur and there is no one outside the society to resist it in the world.
Soviets will include:
America
Canada
Mexico
Venezuela
Brazil
Columbia
Peru
Argentina
Ecuador
El Salvador
Panama
etc.
Thanks. You know, pessimists always sound more sober and thoughtful, and their unfulfilled dire predictions are usually soon forgotten. Optimists are accused as being Pollyannish, lightweight, etc, and their mistakes are long remembered.
Nevertheless, I like Hanson’s optimism. American resilience was underestimated countless times. We will overcome...
Let me know if you want in or out.
Links: FR Index of his articles: http://www.freerepublic.com/focus/keyword?k=victordavishanson
His website: http://victorhanson.com/
NRO archive: http://www.nationalreview.com/hanson/hanson-archive.asp
Pajamasmedia: http://victordavishanson.pajamasmedia.com/
with the help of God!
but, man do we have one hell-of-a-mess to clean up...
between the muzzies, illegals, gang-bangers, illegal drugs and with half the population dependent on some kind of government assistance, not to mention the Socialist/Marxist/Leninist/Liberals indoctrinating our children in colleges & universities throughout the country for the past fifty years and with a federal government inundated with career politicians who are only interested in getting reelected;
what America needs is an enema!
^^^^^^
But you won't hear this on the "news." The US dollar was almost on a par with the Canadian dollar when Oil was over $100/barrel. Now it takes $1.35 to buy a US dollar. You won't hear that on the "news" either.
VDH’s optimism must be tempered by the possibility of an Obamanation win in the polls. All of us want to share in Professor Hanson’s optimism; remember to vote for America not Amerika.
Ouch. One of the better posts I’ve seen lately. Unfortunately.
Agree on the optimism. I need a great big dose today. VDH’s brand always seems grounded in reason and history.
“The cost of deploying American troops in Iraq is nearing the expense to station them elsewhere abroad.”
Wow, I never here the Obamanation say this. How’s he going to balance the budget now?
A Saturday bump
From the article:
Just A Reminder
The U.S. military remains far stronger — and more battle-hardened — than the rest of the world’s armed forces combined. Rogue nations and terrorists try to take advantage of economic uncertainty, but America remains the best-defended democracy in the world.
The current financial crisis has startled America from a hypnotic trance of self-indulgence and irresponsibility. But as we return to American fundamentals, we may discover that our political, social and economic system — despite all the current election-cycle hysteria — is still by far the most resilient in the world.
How odd that it took a financial catastrophe to remind us of that.
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