Saturday, January 24, 2009

Robert Reich Stands Tall

Jennifer Rubin links to Robert Reich's criticism of the "Lemon Socialism" we are creating. Succesful areas get capitalism and the tax payer owns the declining sectors. For a free economy (capitalism is Marx's words and ought not be used by those in favor of the system of free exchange), to work failure has to be allowed. The only exception to this (other than the company's making nukes or the like) is banking because the Government is responsible for the money supply and price stability. All the other things going on now guaranty a waste of resources which will lead to lower growth and less employment for Americans.

I'm not eve sure all this bank bailout stuff is warranted. It seems to me all the bankers are being taken care of at tax payer expense. Wells Fargo and certain other banks were fine until the government made em by troubled assetts.

Uncle Sam should not be stuck with other people's bad investments.

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