The Direct Cost of Government Intervention (So Far): $2 trillion
Tuesday, November 25th, 2008The phrase “spending like a drunken sailor” has officially taken on new meaning: Obama, Democrats plan $500B economic package Congressional Democrats and President-elect Barack Obama are laying the groundwork for quick enactment in January of a giant, two-year economic rescue package that will total about a half-trillion dollars. His economic team in place, Obama has [...]
Obama Administration-Elect Loves a Crisis
Sunday, November 23rd, 2008Here’s Obama’s new Chief of Staff, Rahm Emanual, speaking on the opportunity to exploit the current crisis to expand government power. Rush Limbaugh had some analysis of the clip that’s worth a read: RUSH: Okay, so where is Obama? He’s not acting like Abraham Lincoln, that’s for damn sure. He’s acting like James Buchanan who [...]
Citigroup to be Nationalized?
Sunday, November 23rd, 2008And the fun never ends: Citigroup Nationalization: Good Bank, Bad Bank Several sources are now reporting that Citigroup is nearing a deal with the government to create a seperate “bad bank” to house $50 billion worth of toxic mortgage and other assets, as well perhaps a $1 trillion or more in off-balance-sheet entitites. The WSJ‘s [...]
Automaker Bailout: Congress Chooses a Little Fascism to Go With Their Socialism
Sunday, November 16th, 2008Yet another example of economic fascism (government control over nominally privately-owned businesses): Pelosi said the [government's plan to bailout the auto industry] would call for “immediate, targeted assistance” and must include several principles, including the restructuring of the companies “to ensure their long-term economic viability,” new fuel-efficiency standards, and the development of advanced vehicles. It’s [...]
A Tale of Two Healthcare Systems
Saturday, November 15th, 2008This is from a few months  back, but it needs attention given what Obama wants to do to American healthcare: I’d been sick with the same thing almost 10 years ago when I was in my 20s and still living in the United States, where I’m from. In both cases, my side and back hurt [...]
Democrats to Nationalize Another Industry?
Wednesday, November 12th, 2008Here it is, yet another partial nationalization of an American industry:Â Democratic Proposal Includes Federal Stake in Car Companies: Congressional Democrats are pushing legislation to send $25 billion in emergency loans to the beleaguered auto industry in exchange for a government ownership stake in the Big Three car companies. House Speaker Nancy Pelosi, D-Calif., and Senate [...]
McCain and Obama – Two Sides of the Same Coin
Tuesday, October 28th, 2008It may seem like this blog is pro-McCain, given how anti-Obama some recent posts have been. To help rectify that erroneous impression, here’s a bit from Capitalism Magazine on McCain’s fundamentally self-sacrificial sense of life: …McCain sees America as the land of service, where our goodness is measured by our willingness to sacrifice. Is this America’s nature? If [...]
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