Archive for the ‘Politics’ Category
The Auto Industry Bailout
A couple days ago, a bill went into Congress proposing a $14 billion bailout for GM, Chrysler, and Ford. It passed the House but not the Senate.
I would like to say that I’m glad it did not pass. Passing such a bill is only furthering our expanding socialism. As Ron Paul put it, we’ve essentially nationalized the housing market and the insurance market. Bailing out company after another is essentially what we did in the 20s, creating an illusionary boom. And look at what a beautiful place that got us into. Few remember the recession in the post-World War I era, peaking in 1921. The government, under conservative leaders who had balanced budgets, chose to stick it through without bailing out companies. The recession was over in a year, and there was consistent growth from 1922 to 1928. When the stock market crashed in 1929, it wasn’t an immediate crash. It was three or four years of price fixation and regulation that brought about the Great Depression. And we’re doing the exact same thing. Go Federal Reserve!
Not.
- Larry
