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I’m not one to link and run, but sometimes there is really nothing to add. I think that everyone should read what Obi wan has to say about the bailout situation.
6 replies on “Everyone Should Read This”
I’m no economist, and I may seem a bit naive here, but I have two concerns about this bailout. First, this 700 billion will primarily come from the treasury simply printing more money, right? Which is inflationary, right? And, how disastrous would it be in the short term if we simply let the market clean up its own mess and let these companies fail? After all, this is simply another govt. buy-out (or, buy-in) and I’m not really comfortable with my govt. having such business interests. It really isn’t the govt’s job, although I’m sure you’ll probably disagree (I’m very, ah!, conservative on economic issues) to bail out corporations that have bad business practices. And, since congress has had a hand in these two corporations for some time now already, is it really a good idea for them to become even more involved, considering where it has led thus far? It is ironic that all this debate is going on, while, at the same time, alot of economists are coming to the conclusion that what made the great depression so much worse was govt. involvement, trying to avoid the short-term fender bender, if you will, and leading the country into a total multiple-car pile-up with an outrageous body count. Am I wrong on every count? I just finished reading Ron Paul’s book, and before that was reading Milton Friedman, so it could be that I’ve been influenced a bit.
Obi wan, the original author, would not likely share your perspective on how involved the government should be in business, but I am more conservative than he is and probably basically agree with you (from what little you have said here). That being said, I think we all share most of the same concerns with this bailout, and I believe that we all agree that letting the market ride this out will be better than this $700 Billion dollar giveaway.
If I had to compare Liberalista’s post to a dinner, I’d say a rump roast of sanctimonious grandstanding, a tiny pinch of good point, washed down with a cheap, California-partisan blue wine, and blame brownies with plenty of arsenic frosting for desert.
At one point David, you described Liberalista “not just a mindless party hack”, I’m going to need some better evidence than anything I’ve read by him.
Did you actually read his post? Obviously the Bush administration gets some licks for being behind this proposal, but he’s complaining about the financial system breakdowns without reference to partisan positions.
He’s absolutely right that the Paulson proposal is a horrendous precedent. Look at the position he takes, it’s right down the line with free market policy, which is not the Democratic way. How is that a mindless party hack?
I read it, understood it, and yawned.
Here’s the way I look at it. A Democrat is a person who bashes Republicans. A Republican is someone who bashes Democrats. A party platform is irrelevant to what the party actually believes in. So Liberalista is a mindless party hack because he mindlessly adheres to the only thing Democrat party actually believes in, bashing Republicans. Liberalista would still be a mindless party hack if he were a Republican bashing Democrats.
Was the post designed to influence my opinion or present a solution?
Liberalista has destroyed his credibility so badly with prior mindless, zombieDem comments (and continued the trend in this post) that I had a hard time reading the post and believing it’s what he really thinks. Touting his position to establish credibility didn’t do much more than take up space on a page.
As for presenting a solution, well, he didn’t bother.
In case you’re curious, my party affiliation is Disaffected American. America has tossed her anchor and is now wondering why the storms are worse than before.
No, he didn’t bother to present a solution – maybe that’s why he called it venting. I still failed to see any significant Republican bashing (I re-read his post a couple of times to see if I missed anything).
Unfortunately, the Disaffected American Party is doing as much damage to our country as the Republican and Democrat parties are doing. The Engaged American party is our only hope. (I wish I could say that an engaged American could guarantee our revival from our present morass but there are no guarantees when you’re in as deep as we are.)