Friday, March 27, 2009

Collectivism = epic fail

At the heart of the problem of the entire Obama administration is collectivism. Collectivism has been tried before, and it always fails in a spectacular manner. From Real Clear Markets, here is a good piece highlighting Tim Geithner and the failure of collectivism as a means for structuring our economy:

Once Again, Tim Geithner Gets It Exactly Wrong

Geithner began by blaming Americans in total for the nation's economic difficulties. He wrote in the Wall Street Journal that, “as a nation we borrowed too much and let our financial system take on too much risk.” No, some Americans borrowed too much, and some banks acted in risky ways that were inimical to their health.

Update: Here is another one from RCM that is worth a read:

Beware the Encroaching D.C. Leviathan

Breathtaking. Coupled with the vast expansion of government spending over the next 10 years, this is socialism, pure and simple.

Yes, we know it's unfashionable to use the "S" word. But we're willing to be unhip in the service of the truth.

It's a frightening thing to see a once mighty, and free, capitalist economy placed under the heel of an incompetent government. But that's precisely what's happening now.

Executive pay, the focus of much public fury right now, is only the start. Your pay will be next, rest assured. So hold on to your wallets, sure, but also hold on even tighter to something even more precious that now seems at risk: your freedom.

It does a good job summing up all of the government encroachments on you liberty -- in the last week.

The question that most weighs on me, though, is where does it end?

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