Friday, July 17, 2009

Why this goes on...

Pretty scary graphic for both sides, eh? I was listening to a talkie on the radio this morning who had been invited to the White House in the waning days of the Bush administration. Apparently when Bush told the gathered radio hosts that the Bailout Bill had to happen, that his best people had told him it had to happen, this one host wanted to yell at the President: "Don't listen to them! Go with your gut! You didn't listen to the wags who told you we couldn't win in Iraq and it's much better now...we are much safer now! So why are you doing this???" And Bush deserves a good deal of opprobrium on this economy. Having a Republican set the table for the Democrats to feast makes all market capitalists tremble.

An excellent piece by Joseph Keckeissen over at the Mises Institute bears this out:

On that fateful inauguration day, Obama said YES but YES to all the imbecilities being proposed, by President Bush before him, by the Reids and Pelosis in the Congress, by Paulson, Bernanke, and Geithner, by the great Nobels and the government-adulating economists. Long live Maynard Keynes and the national economic medical corps that will monetize and fiscalize us to perdition. It was the market that was laid to rest in favor of all the new boondoggling experiments that have all but brought America to ruin.

Go read this - you will not regret it.

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