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Market had as much dictation on the country as the president did until 1932. And guess what happened a few years before? Free market, reckless spending on the consumers' behalf and lack of regulation of banks and boom the Great Depression. Years of Lassiez-Faire policy on behalf of Bush have led to the current housing meltdown and if not for intervention, stimulus packages and bailouts, unemployment would be even higher.
Bush was NOT a free marketer or non-interventionist. He started the stimuli and bailouts, running up $ 3 Trillion in public debt over 8 years.
Obama/Bernanke is simply Bush/Greenspan on steroids. The bailouts and stimuli ARE the problem b/c they're going to wipe out the value of the US currency.
Bush was NOT a free marketer or non-interventionist. He started the stimuli and bailouts, running up $ 3 Trillion in public debt over 8 years.
Obama/Bernanke is simply Bush/Greenspan on steroids. The bailouts and stimuli ARE the problem b/c they're going to wipe out the value of the US currency.
You can see into the future? What are the winning numbers for New Jersey Powerball tomorrow?
Bailouts shouldn't destroy value of currency, especially if banks and other fiscal businesses are intervened on. Value will probably decrease but it's better than value staying the same but no one having it.
You can see into the future? What are the winning numbers for New Jersey Powerball tomorrow?
Bailouts shouldn't destroy value of currency, especially if banks and other fiscal businesses are intervened on. Value will probably decrease but it's better than value staying the same but no one having it.
I'm not able to predict the future, but it makes sense that spending money you don't have (via printing) increases the money supply, which dilutes the value of the other currency notes outstanding. Our money supply has risen, while the Economy (and thus our demand for goods and services) has declined. More dollars out there, chasing fewer goods and services will lead to inflation. We're already having trouble auctioning off our debt.
Keep in mind a free market or laissez faire model allows failing companies (i.e. Bear Stearns, GM, Chrysler, Auto suppliers, AIG, Fannie and Freddie etc) to go bankrupt. That's the nature of the system. Free market systems would not support artificial stimuli to the Economy (i.e. Bush stimulus, foreclosure relief plan, Obama stimulus).
If you really want to understand this, read Meltdown by Thomas Woods or Crash Proof by Peter Schiff. Listen to the people who got it right! Watch some Ron Paul clips.
What I will remember most is being absolutely stunned that he won the Presidency not once but twice. What the hell does that say for the intelligence of the American voter? I guess I can understand being fooled once, but the second time ... conservatives knew he was no conservative, liberals knew he was no liberal, smart people knew he was a moron, and we ALL knew that the worst attack on this country since World War II took place on his watch. And people STILL voted for him. Good Lord.
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Obama!!
