“One of the methods used by statists to destroy capitalism consists in establishing controls that tie a given industry hand and foot, making it unable to solve its problems, then declaring that freedom has failed and stronger controls are necessary.”
—Ayn Rand, 1975
More than thirty years have passed and here we are seeing Ayn Rand proven right yet again. The government has meddled and meddled and meddled and now we have the result… Instead of letting people fail–as they deserve for making bad decisions– for some reason, the Congress is seeking to allow people to escape the consequences of their actions (or inactions).
The talking chatterboxes on TV blame the free market, Obama blames deregulation, and McCain blames “Wall Street greed”– but none of them lay the blame squarely at the foot of failed welfare statist policies of Congress and the Presidents.
Enough is enough! Stop meddling and face facts: Bad decisions have bad consequences. Period.
I’d rather suffer “worse” in the short term and recover more quickly than face a decade of Congressional bullhockey.
“The Federal Reserve is not the solution to the crisis, it is its root cause. By keeping interest rates artificially low and inflating the currency, it created the illusion that homes and subprime mortgages were can’t-miss investments.”
“Now, as we bear witness to the wreckage of the Fed’s previous central planning, the solution offered is even more Fed central planning. This is absurd. The way to prevent future credit crises is to get rid of the government’s arbitrary power to determine the money supply and the price of credit, and return to a gold standard.”
Ayn Rand Institute
Hello? Wake up and smell the coffee– or rather the evaporating value of our fiat currency! Dr. Brook is right on with his comments. The Fed needs to go. With a commodity based currency (also known as the gold or silver standard), the government is fiscally incapable of running debts and financing the welfare state.
I’ve commented before on the need of individuals to live WITHIN their means, so now let me say clearly that I support this at a governmental level, most especially!