Posted by
CD Sampson on Sunday, May 31, 2009 10:48:52 AM
When the Government illegally prints money to give to the private companies without the consent of the people, that Government becomes a tyranny, plain and simple.
The right of the Gov to bail out lenders in order to stop financial panic is not anywhere in the US Constitution. Lenders who made bad loans should have been allowed to fail. That is the way the free market works. Bad lenders and their investors lose their money, not the taxpayer. Then good lenders, the smart lenders, remain and the world is a better place for it. Instead, the Government has rewarded these incompetents and allowed them to remain so they can be manipulated and controlled by the Government. It is nothing more than a power grab.
Money is currency by which wealth is transferred from one person or entity to another. Inflating the M1 devalues the money you and I have in our pockets.
So in effect, the Government bailed out lenders with the taxpayer's money because they forced the lenders to make loans to people they knew could not pay them back.
After the bailout there was more money available to transfer the same wealth. And since then the Government has passed one huge budget bill after the next so that now there is even more money available to transfer even less wealth. Rampant inflation is inevitable. GW and Obama, all of the Democrats and some blue nose Republicans, all believe the answer is to pump more money into the public sector and grow the Government.
Of course for people of the Left who yearn to be led by a more powerful and tyrannical government, this is a great solution. "Let no crisis go unexploited" is their battle cry. So as the economy collapses, the people will look to the Government to solve their problems and the Government will grow. And since the Government does not create wealth, the money will become more and more worthless.
Our debt now stands at 63 trillion dollars. Not a day goes by that I don’t think of this fact. I pray with all my heart that I am wrong, but I can’t shake the feeling that we are headed for an economic disaster from which we may never return. Return in the sense that we will be a free and prosperous nation. One in which all people have an opportunity to work their way up the economic ladder. I fear those days are gone forever.
This is good news for the Left. It will mean their dream of a Government controlled economy will be realized. We will all be equal and whatever economic state your are in at present, well you’ll just have to satisfied with that and press on.
Otherwise you'll be guilty of being unpatriotic. Patriotism used to mean showing your gratitude for living in a free society. One in which each man had the right to pursue his own dream and be whatever he wanted to be. Now, being patriotic means being willing to work hard and give the money you earn to the Government so others can fulfill their dreams of having everything they need handed to them.
The only solution to this crisis is to stop Government spending and stop the inflation of the money supply. Wealth must be created by the private sector to balance the increase in the money supply and balance the ratio of wealth and money. The reduction and suspension of private income tax is the only tool for encouraging more wealth creation. The problem with this solution is that it means less money will go into the hands of the Government.
This why this common sense solution will never be implemented. The people we have in power will never allow it. It's against their religion.