The efforts being offered as "solutions" to our economic crisis are nothing of the kind. They are the failed socialist policies of the former USSR, China, France and North Korea. You don't think of big banks when you think of these nations and for a good reason - socialist nations have completely ineffective wealth production. Unless the nation is sitting on a huge pool of oil, like Sweden or have a non-existent population in the frigid wastelands, like Canada - socialism as a "solution" just doesn't solve anything. It only makes things worse.
By now it is obvious that Obama knows nothing about economics. He knows nothing about capitalism. His childhood experiences in southeast Asia have glamorized for him the concepts of socialism and the needs of the very poor. This is all swell and fine but one glance overseas tells us that the only rich folks are practitioners and beneficiaries of capitalism. Only the useless government employees feeding on the taxes of the hard workers get rich or live comfortable & secure all their lives thanks to socialism and the politics of taxing the wealthy into extinction.
Generating wealth is the solution.
Read that above line fifteen or twenty times if necessary Mr. President. Let it sink in. Generating wealth is the solution. Not taxing wealth and redistributing it. That does nothing except promote universal poverty. You don't kill all your chickens because some of your kids are hungry. You BREED them, so you will have more eggs and chickens to go around.
To breed wealth, you do not drop trillion dollar stimulus packages on a few pork barrel projects Representatives and Senators dole out to their biggest contributors. You don't nationalize banks with taxpayer dollars and in debt them further.
You either believe in the free market or you don't. A Free market always finds balance. If the free market is not permitted to function because someone is cheating in the name of the "privileged" companies who donate lots to politicians, the people and the market are cheated - robbed.
The power of the gun (which only the government legally can manipulate) is used to loot the citizens of their wealth to preserve some private companies. With these packages we are seeing the unprecedented takeover of the private sector by government. We are witnessing a nation-changing failure in the making. These failing companies now can keep losing money - and keep getting bailed out. The government is committed to propping them up with taxpayer's hard earned money.
It doesn't matter if it the largest bank in the world or the largest car maker. Free markets must be allowed to dispose of the unprofitable businesses. They must be permitted to realign the order of power and move employees with skills into other profitable companies that can use them and pay them well. Markets must be free to establish REAL prices for real estate and goods. Inserting a "fix" into the market breaks it. It ceases to produce and generate wealth effectively.
In 1917, the bloodthirsty and ruthless Russian revolutionaries executed all who opposed them. Their treacherous techniques in government takeover of private industry are now legendary. The "bread" crisis was the excuse for the largest and longest failed socialist experiment in history. It took them 70 years to recover from the socialism they embraced. And those were 70 miserable years of massive suffering for hundreds of millions of people.
Now we have a President who is embracing the same old failed corruption of the free market. A President who has no experience in generating wealth at all. A President who is young and largely clueless - who is desperate to appear to be doing something for all the clamoring voices across the nation.
Let's hope our new President gets some good advice and let's hope he reads Atlas Shrugged in the White House family quarters each evening.