Woke up this morning and said to myself, “What the heck?” I believe in capitalism, which means I believe in profits and losses. This bailout plan is about the feds trying to pretend there are no losses from the housing bubble. As Sen. Richard Shelby says, there’s not even any guarantee that the bailout will fix the problem — we might pay $700 billion for nothing.
So, forget it — I’m against the bailout. Get the government out of the way and let the market fix itself. It always does. That would mean short-term economic hardship for a lot of people (your 401K is going to go south for a while), but in the long run, the preservation of free enterprise is more important that the immediate pain of the correction.
UPDATE: “Chickens coming home to roost”?
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?