Obama’s stalinist economic plan
The Democrats’ hope, Barak Obama laid out his economic policy this morning and proved he’s either an inept buffoon or a naive babe in the woods. Christina Bellantoni from the Washington Times writes;
The Democratic presidential hopeful said he would rein in special interests as president, complaining the government has allowed the markets to “bend the rules” for the most profit at the expense of the nation’s workers.
“Under Republican and Democratic administrations, we failed to guard against practices that all too often rewarded financial manipulation instead of productivity and sound business practices,” Mr. Obama, of Illinois, said at the Cooper Union in Manhattan.
President Bush has tightened restrictions on accounting and business practices more than any president since Franklin Roosevelt. So what’s he talking about?
“We let the special interests put their thumbs on the economic scales,” he said. “The result has been a distorted market that creates bubbles instead of steady, sustainable growth; a market that favors Wall Street over Main Street, but ends up hurting both.”
He said the government must adapt.
“The American economy does not stand still, and neither should the rules that govern it,” he said.
Those “bubbles” are from over-speculation, Barry, not from a lack of government intervention. A distorted market happened when Bill Clinton declared that his administration had put an end to business cycles.
I saw the current market problems coming three years ago when more people in California applied for real estate licenses than drivers licenses one month. I adjusted my portfolio accordingly – like every other savvy investor.
Greed brings on bubbles, Barry, buddy. Now if you want to regulate greed among investors who chase returns, you might find it a bit impossible.
There’s no such thing as “steady, sustainable growth” in the short term. The market jumps up and down based on best guesses. There’s no solution to spikes in the economy unless you want to regulate every aspect of production, supply and purchase.
Of course, you can promise that to those pea-witted bozos that faint at the sound of your voice, but it’ll never happen in this country.
“regulate every aspect of production, supply and purchase.”
Followed by entry of results of Mugabe’s attempt to do just that.
And, it will never happen here?
The majority does’nt faint, but will vote in what the are told is their best interest.