Shameful for conservative fiscal policies everywhere, Hank Paulson does his Messiah act and hocks our children's future with another massive bailout so we can all have a pacifier today. Forget the dollar. Forget retirement, forget free markets. This day will live in economic infamy.
Thursday, September 18, 2008
Secretary Paulson With Nanny Pelosi: What Will Happen to Our Children's Future?
SATURDAY UPDATE: IBD has another take on this massive bailout. I'm not ready to buy it yet, but I'm open to listening. The market was up over 700 points on Thursday and Friday. Another view from Wall Street. Pat Buchanan makes the most sense: the end of an era
Shameful for conservative fiscal policies everywhere, Hank Paulson does his Messiah act and hocks our children's future with another massive bailout so we can all have a pacifier today. Forget the dollar. Forget retirement, forget free markets. This day will live in economic infamy.
Shameful for conservative fiscal policies everywhere, Hank Paulson does his Messiah act and hocks our children's future with another massive bailout so we can all have a pacifier today. Forget the dollar. Forget retirement, forget free markets. This day will live in economic infamy.
Yes, with the gov't spending $1 trillion of taxpayer money, we now see the beginning of a gov't run socialist economy. Heh... and they call Obama a socialist. we're all socialists now thanks to Bush, Gramm, McCain...
ReplyDeleteLet's look closer at that picture. It's Sen. Mitch McConnel (R-KY), SEC Commissioner and former Republican California Representative Chris Cox, Sen. Chuck Schumer (D-NY), Sen. Richard Shelby (R-AL), Republican Secretary of the Treasury Hank Paulson, Rep. John Boehner (R-OH), Rep. Nancy Pelosi (D-CA), and Republican Fed Chairman Ben Bernacke. I'm not sure who's standing behind Rep. Pelosi, but by my count that's 6 Republicans and 2 Democrats.
ReplyDeleteWhy keep implying that Obama's running for "CNOTUS" and calling her "Nanny" Pelosi when the Republicans are leading this rush for government takeover of the free-market? Whatever you think of this TRILLION DOLLAR BAILOUT (here's what I think: goodbye military pension!), it's bi-cameral and bi-partisan, starting at the top, with fiscal conservative George W. Bush and his administration leading the way.
Well I'm sure that delights you, William. But tell you what: you can go ahead and be a socialist, but I'll remain a free market fiscal conservative in my personal life so that I can be beholden to the federal government as little as possible.
ReplyDeleteWhat does being a fiscal conservative mean? Keeping personal debt at a minimum. Buying only those things I can afford and investing in only those things I can understand (many financial products today I don't understand.) Making real assets a priority and voting for people who seem to stand for those principles themselves.
Vienna, we do agree on something: it is bicameral and bi-partisan and got started decades ago, probably when Nixon took us off the gold standard. Many, many factors and well-meaning people have contributed....but when basic principles go out the window---like ignoring gravity---the chickens finally do come home to roost.
One other thing on a more sanguine note: I DO think some good will come from all this. What, I don't yet know. I also believe that there is and will be plenty of opportunities for smart, hard-working, creative people to make money (and lose it) in the market and economy.
ReplyDeleteAs a stockholder of American companies, I can and must keep a better eye on management---especially the balance sheet, as well as salaries and bonuses of top management...we can't depend on government to do this for us.
Never has personal responsibility been more important. For me McCain and Palin come closest to this philosphy and Obama comes closer to attracting the victim classes who want government to do what they won't do for themselves.
And who do you think McCain expects to pay for the TRILLION dollar bailout when he proposes a huge tax cut for the top 1% in a time of record deficits? Certainly not the CEO golden parachute crowd.
ReplyDeleteWe saw gas stations running dry in Nashville, panic buying... that may be just a harbinger of what Bush-McCain has brought for our future.
Remember, John McCain told GW Bush that it was IMMORAL to launch a war without providing anyway to pay for it. Spending $4 Billion a week in Iraq is the bird that has come home to roost along with the Republican philosophy of deregulation.
there's deregulation, over-regulation, misregulation and no regulation. Of all the above, the best is no regulation. There are times when it's necessary. However, usually the cure for government is more regulation which ends up partially curing one problem only to create three more even worse than the first.
ReplyDeleteI agree with your assessment - this will hurt the dollar.
ReplyDeleteBTW, you might be interested to know McCain's health care plan for America is based on deregulating the health insurance industry by extolling the benefits of the last decade of deregulation in the banking sector. Wow.
Again, an over-regulated economy is a socialist society. You might look into moving to say Cuba, Russia or Venezuela, William, if that's what you're pining for.
ReplyDeleteHistorically, government regulation in the US has been geared towards 1) protecting the consumer and 2) protecting competetion so that small businesses can enter the market place dominated by big businesses. Today with government bailouts it sounds like regulations may be in order to protect the taxpayer.
In a free society, the less government regulation, the better.