The Death of Capitalism
Adam Smith must be turning over in his grave.
In the wake of the US financial meltdown, as our economy teeters on the brink of its second Great Depression in less than 100 years, it looks like "nationalization" is the buzz word of the day. The Bush administration has ushered in the new age of a socialized United States by inviting the other members of the G-7 to Washington DC to participate in a brainstorming session to stifle the current calamity that has financial markets across the globe reeling.
Bush and Treasury Secretary Henry Paulson have devised a new scheme to buy up parts of US banks to ease the bloodletting. This was part of a larger plan that the Bush administration and the other members of the G-7 developed to ease credit woes and to flood the world economy with cash. Mark Zandi, chief economist at Moody's Economy.com, said he believed that fears will be eased as markets "stabilize" as long as the new programs produce positive results in getting credit flowing again. "At this point, policymakers have said a lot and done a lot. Now markets will want to see whether it will work," Zandi said.
This appears to be one more reason that the myopic Bush Doctrine is an abject failure and why a vote for McCain is a detrimental decision for any voter. Four more years of policies that are designed to benefit everyone but the US taxpayer may very well bring this once great nation, and the world, to its knees.
The Wealth of Nations, indeed.
In the wake of the US financial meltdown, as our economy teeters on the brink of its second Great Depression in less than 100 years, it looks like "nationalization" is the buzz word of the day. The Bush administration has ushered in the new age of a socialized United States by inviting the other members of the G-7 to Washington DC to participate in a brainstorming session to stifle the current calamity that has financial markets across the globe reeling.
Bush and Treasury Secretary Henry Paulson have devised a new scheme to buy up parts of US banks to ease the bloodletting. This was part of a larger plan that the Bush administration and the other members of the G-7 developed to ease credit woes and to flood the world economy with cash. Mark Zandi, chief economist at Moody's Economy.com, said he believed that fears will be eased as markets "stabilize" as long as the new programs produce positive results in getting credit flowing again. "At this point, policymakers have said a lot and done a lot. Now markets will want to see whether it will work," Zandi said.
This appears to be one more reason that the myopic Bush Doctrine is an abject failure and why a vote for McCain is a detrimental decision for any voter. Four more years of policies that are designed to benefit everyone but the US taxpayer may very well bring this once great nation, and the world, to its knees.
The Wealth of Nations, indeed.
Labels: credit crisis, G-7, Treasury Secretary Henry Paulson
posted by Kimbo at
5:32 AM
3 Comments:
You know, there's something to be said for everything going down here in Bush's final hour. It's suspicious that we've seen a systematic decline in the dollar, resulting in higher gas prices, and now we have this financial calamity...
I can't wait for January 20, 2009. It will be the happiest day in the lives of millions of Americans - when we inaugurate Barack Obama as POTUS!
Peace.
Can all be traced back to either Barney Frank and Fannie Mae or President Clinton and his attampt to clear our deficit by cutting the military down and thus making us more weak militarily. All started with the attack on the Chinese embassy in 1999. Thanks Bill!
"You know, there's something to be said for everything going down here in Bush's final hour."
Don't try to rewrite history! Remember Pelsio and her band of pigs have been in control of congress (the money people) for almost 3 years! Try asking them what they have been doing all this time?!? Nothing just planing for the crash, thats all!
Post a Comment
Links to this post:
Create a Link
<< Home