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Author Topic: The GOP Betrayal of Capitalism  (Read 1872 times)

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Offline ReardenSteel

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The GOP Betrayal of Capitalism
« on: October 31, 2008, 07:43:09 PM »
The GOP Betrayal of Capitalism, Alan Greenspan's Lies and The Scapegoat Phase of the Bear Market
by Richard Salsman, CFA  (October 31, 2008)

(snip)
Quote
... The GOP has been in charge of U.S. public policy for six of the past eight years; they alone were the ones who made possible the latest push for socialist finance in America. It was GOP Congressman Spencer Bachus (R-AL), not House Speaker Nancy Pelosi (D-CA) or Senate Leader Harry Reid (D-NV), who insisted that the bailout package include what have become mandatory government "equity stakes" in the banks. The Bush Republicans came to Washington as social conservatives, and not at all paradoxically, will be leaving it as conservative socialists. Theirs has been a faith-based government.

These GOP traitors to capitalism have aped the Social Democrat playbook: if it moves, tax it; if it keeps moving, regulate it; if it stops moving, subsidize it; and if it dies, nationalize it. After eight years of this, no wonder the GOP faithful are disillusioned. In the current campaign the GOP warns voters to be very afraid of those potentially big-taxing, big-spending, control freaks and socialists now lurking in the Obama camp – i.e., to be afraid of what the GOP has actually been doing already to the electorate.

Whether it's an innocent bank or an innocent system, like capitalism, the blame today is wholly misplaced. No two sectors of the U.S. economy are more manipulated by government, via subsidies and regulations, than housing and banking. What does the "F" stand for in all the entities embroiled in this mess – in "Fannie Mae," "Freddie Mac," the "Fed," FHA, the FDIC, etc.?  In all cases the "F" stands for federal – which means the federal government – more particularly, the federal government of the United States. All these "Fs" deserve a grade of "F." This is without question a failure of government, not of free markets or capitalism. But instead of attributing housing and banking troubles to government, the anti-capitalists – and even those in the GOP who should know better – are attributing them to whatever vestiges of freedom still remain in each sector. Both candidates today decry the allegedly evil "greed" of Wall Street and so-called "laissez-faire" policies of Bush et al.

Just sharing my mood.  :( Misery loves  :censored: company after all.
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"When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed."

- Ayn Rand
http://www.capmag.com/article.asp?ID=1826

Offline Jim

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Re: The GOP Betrayal of Capitalism
« Reply #1 on: October 31, 2008, 08:16:33 PM »
I'm very disappointed in my rep Eric Cantor for caving on his plan to limit the bailout to insurance only.  I have not made up my mind whether to vote for him or not.  He'll win no matter what but I was not happy that he put his deputy minority whip gig ahead of my interests.
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My fellow Americans, there is nothing audacious about hope. Hope is what makes people buy lottery tickets instead of paying the bills. Hope is for the old gals feeding the slots in Atlantic City. It destroys the inner-city kid who quits school because he hopes he'll be a world-famous recording artist.

What's the difference between Sarah Palin and Barack Obama?

One is a well turned-out, good-looking, and let's be honest, pretty sexy piece of eye-candy.

The other kills her own food.

Offline ReardenSteel

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Re: The GOP Betrayal of Capitalism
« Reply #2 on: October 31, 2008, 08:29:42 PM »
Quote from: Jim on October 31, 2008, 08:16:33 PM
I'm very disappointed in my rep Eric Cantor for caving on his plan to limit the bailout to insurance only.  I have not made up my mind whether to vote for him or not.  He'll win no matter what but I was not happy that he put his deputy minority whip gig ahead of my interests.

I'm really burning up about the lack of choices this election I think. I am so sick of getting a knife in the back after voting for the alleged defenders of the free market.

I will likely pull the lever for McCain and then try not to barf on my shoes.
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"When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed."

- Ayn Rand
http://www.capmag.com/article.asp?ID=1826

Offline Chris_

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Re: The GOP Betrayal of Capitalism
« Reply #3 on: October 31, 2008, 09:01:15 PM »
Quote from: ReardenSteel on October 31, 2008, 08:29:42 PM
I'm really burning up about the lack of choices this election I think. I am so sick of getting a knife in the back after voting for the alleged defenders of the free market.

I will likely pull the lever for McCain and then try not to barf on my shoes.

We've got Marilyn Musgrave "representing" my family in Congress.  I think she and I are going to have a nice loooong chat when she beats back the latest moonbat vying for her seat in November.  I want her to give up on the Jack Murtha approach to Congressional work ethics, lay off the pork barrel and earmarks, and get back to the old Congressional tradition of justifying your proposals by article and section of the Constitution, and then debating the bill under those merits.

If she can't make that jump, I've got my eye on a few local folks who'd make pretty good primary alternatives to her.
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Offline Wineslob

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Re: The GOP Betrayal of Capitalism
« Reply #4 on: November 03, 2008, 02:50:07 PM »
Quote from: BadCat on November 01, 2008, 11:12:15 AM
Proudly, my Congressman, Trent Franks, voted against that fiasco...both times.


Wally Herger did not, and I'm a pissed off voter.  :bird:
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