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To: DebtBomb who wrote (269232)	8/15/2010 1:35:52 PM
From: yard_man	Read Replies (2) \| Respond to of 306849

I am not about to defend Bush -- but you've got to be realistic -- there is plenty of blame to go around for the coming depression. The roots reach all the way back to the bailout of the S&Ls. Every president since then has abrogated their responsibility to put us on an even footing. The only one I can't fault outright for this is Clinton -- but Clinton had the benefit of the wind at his back -- his point in the cycle was such that he couldn't do too much to screw things up too badly. To be sure, he proved to be more of a centrist and didn't do a ton of harmful things -- but had he been president now -- or had Hillary -- they'd have done things to exacerbate our current problems, too. Thing is: Obama has enacted all the wrong policies at the wrong time -- he has never quit campaigning -- he continues to approach everything as if it were a continuation of the campaign -- he always says a bunch of really nice-sounding stuff. But to Obama, government is the solution -- he doesn't even need to know the question. I have a friend who is practically an O groupie -- he simply loves the man. This friend has a great concern for the poor. I know I'll never get anywhere with him -- but the people who stand the most to lose from these "compassionate" policies are the very supposed objects of concern -- the people at the bottom. For instance, O demonized the insurance cos -- but who stands to benefit the most by this carp of forcing everyone to buy insurance -- similarly, he (and Bush) gave massive bailouts to AIG, auto companies, and other banksters -- but now has put together a bill that is going to prevent TBTF from happening again?? WTF -- Hypocrisy that is so thin everyone can see right through it -- this bill from Frank-Dodd was written by the guys that were partly responsible for it all running amok in the first place?? You need to recognize the government game -- whether it was Bush -- who made the Islamic fundamentalist threat so large and dangerous [I won't say there is no threat] that we needed to do away with common civil rights ets -- or whether it is Obama saying the inability of sick people to get insurance -- so we have to have government dictate EVERYONES insurance contracts -- or whatever -- the game is always the same: Some problem is so dire, the emergency is so great -- more government, not less -- is the only resort -- please, don't mention how government regulation created any perverse incentives that raised costs or dangers in the first place -- that's irrelevant. What's the latest boogie-man -- how about deflation? That dangerous beast that will kill us all -- plunge us into a morass we'll never escape from??!! IS IT TRUE?? mises.org I still believe there are lots of reasons to be hopeful as we enter the depression -- there is hope because when policy fails -- a large number may have an opportunity to choose freedom. This was a nice article -- I just don't believe it would have been the end without the bailouts -- we'll never know how quickly the economy would have healed w/o the government thefts? minyanville.com Three times we've had opportunities to let the markets clear and quit stupid government intervention: 1998, 2001 and 2008. I think soon people will wise up. Contrary to what you read -- the American people are NOT all sheep. Some are slower than others at putting it together. But I see a lot more who are starting to think through the longer term consequences of government intervention in the economy.