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| Home Front Economy |
| Some Dems openly rooting for a depression |
| 2008-09-30 |
| Jim Geraghty, "Campaign Spot" @ National Review I had thought the argument that Nancy Pelosi and various other Democrats tanked the bill because they think they'll benefit from the horrific economic consequences of inaction were too far-fetched, too conspiratorial, to put much stock in. These people aren't quite so cynical to push for a deep, lengthy recession to gain a few extra House seats, would they? But it no longer looks so incredibly farfetched. The bail out will take place simply to avoid that depression. But depressions have some salutary effects - the scoundrels go belly up, the weakest get purged. And, in the wake of the disaster, people demand strict regulation of the money lenders to keep their greed in check, and government spends money on the real economy to put people back to work. The 130 founders of the Campaign for America's Future are a who's who of American liberalism. These people are gleeful over widespread economic misery if they can get some agenda items enacted. This is who you're about to give power to, America. (Ezra Klein disapproves of Borosage; but in the comments, one of the first responses is, "Let the whole damned system burn to the ground. Whatever their ideological leanings, left or right or in between, the elites of our society have proven themselves corrupt, craven, foolish, brutal, heartless, anti-democratic, and anti-human. Yes, let the whole damned society burn to the ground, sweep away the pathetic ashes of the malevolent, disgusting, warped edifice the elites have erected to imprison the people, and build a new, better America atop the grave.") I'm reminded of that line from The Dark Knight:; "Some men just want to watch the world burn." |
| Posted by:Mike |
| #3 The axiom of a shakedown is correct, but the means to reform the system is not. We might be in for a humdinger of a correction, but the biggest purge should be in government itself--and that's the irony. The Democrats always assume that it takes a legion of bureaucrats and a gawdawfully huge government to make and enforce a rule. It doesn't. A small handful of SEC personnel can enforce strict derivative and leverage controls on the market. But the government itself must to a great extent be reduced to both a surplus budget and constitutional size. Doing that one thing will solve the vast majority of our economic problems. |
| Posted by: Anonymoose 2008-09-30 17:04 |
| #2 Sounds like the donks are about to enact Mr. Herbert Spencer's Social Statics. |
| Posted by: Nimble Spemble 2008-09-30 14:47 |
| #1 Geraghty is a little overwrought and so much of a Bush fanboy that he would swallow socialism if it emerged from Bush's lips. The reality is as these liberals have stated - business failure teaches prudence. Capitalism without failure is like religion without sin. Liberals hope for all kinds of things all of the time. We had the worst recession since the Great Depression during Reagan's era. Did that result in the enactment of a new New Deal or Great Society? No. Reagan cut taxes and deregulated America. |
| Posted by: Zhang Fei 2008-09-30 14:44 |