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  • Fool Me Once

    It seems that we keep being told that the policy is temporary, and is far short of nationalization, only for Congress to turn around after the legislation has passed and “convert” loans into stock: to turn a bailout into a nationalization.

    This has now happened with AIG, the car companies, and today we learn, with the banks too. It is no longer a metaphor that we are on the road to socialism; we have taken some significant steps along that road by nationalizing the “commanding heights” of the economy.

    How is it that we have let this happen? The economic crisis, though itself caused by government meddling, was seized by politicians and used to justify “short-term” measures. Then each of these measures was in turn used to justify taking further steps. While we’re not looking, government is taking the money from our pockets, and the control from our lives.

    Brian Doherty describes the strategy well in an article in today’s American Conservative:

    No call for liberty and constitutional principle seems convincing when Obama is arguing that those relying on government giveaways should have to follow government-set rules. That is, once you’ve allowed them to go ahead with the handouts, the political game is almost over. Under the guise of “managing the taxpayers’ money,” Obama and his crew are rewriting mortgages, deciding executive compensation, tossing out CEO’s. And note carefully that his plans for where taxpayers’ money should go continue to swell, from healthcare to the environment to energy policy to expanded “national service” programs. When taxpayers’ money is everywhere—and Obama is doing his best to make sure it is—then Obama’s control is everywhere.

    If government owns much of industry, and all of the power to lend and invest, the economy is a market economy in name only. A socialist economy in the guise of capitalism is a well known sort of economic system: and we are on this Road to Serfdom. There is still time to stop this flood of nationalization, and reverse the trend. However, the public must show outrage, and refuse to be fooled by empty promises.

    Posted in Economics [slideshow_deploy]

    7 Responses to Fool Me Once

    1. Lisa from St. Louis says:

      In addition to taxes and huge government, we must add "no nationalization" to the tea party agenda. It should be the primary focus of the next tea party on July 4th. Meanwhile, let's make some noise that nationalization is socialism!

    2. Lisa from St. Louis says:

      In addition to taxes and huge government, we must add “no nationalization” to the tea party agenda. It should be the primary focus of the next tea party on July 4th. Meanwhile, let’s make some noise that nationalization is socialism!

    3. Todd Merkel: Englewo says:


    4. John from Houston, T says:

      The next Tea Party and the next and so on till these money spending elected officials are back in the private sector!!!

    5. Emily, Ketchikan says:

      But how much do they really own? What would happen if the business leaders pushed back? Could some of these issues wind up in the courts?

    6. Jorge L. Aponte, Hin says:

      The bottom line to Tea Party fervor is the "cost of living" honest and hard working folks are accosted with. It includes making ends meet with rising costs of home, necessities, utilities amenities and transportation. Every dollar you spend is taxed after you already have paid your salaried tax. Now there is a fee for rainwater that is added to your water bill every month. All of which are taxed separately at the town, county and state levels. Then there are enormous credit card interest rates and insurance requirements for about everything you can think of. All imposed by federal and state laws with no protections for the consumer. This is what our elected leaders have done to this nation and it's time they get the boot. Angry, yes and very "Tea'd" off! And it's only the tip of the iceberg!!!

    7. FeFe, Balto says:

      Toss in the census including illegals and sampling and I can't see how this will ever change even when 0bama leaves office. Help.

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