A great response by John Carney to the recent Timothy Egan piece declaring Obama “effectively saved capitalism,” which argues in part:
While I’m not especially interested in the question of whether Obama is a socialist (my instinct is to reply that Obama is not a socialist, he’s a golfer), I think it’s important to clear up this question of whether saving failed banks and failed automakers while holding interest rates artificially low is good for capitalism. Of course it isn’t.
The word capitalism is usually used to refer to a system of free enterprise in which market processes are permitted to operate with relatively little intervention by the government. All of the things Egan describes as “good for capitalism” are, of course, the opposite of capitalism. They undermine market processes.
On the left this is an argument of convenience, of course, in much the same way they’ll both bluster on about the wonderful profits our new financial advisor Uncle Sam is reaping for us via TARP and then go ballistic when any Republican candidate mentions a corporate background in campaign materials. “Government should not be run like a business!” Why not if it is supposedly so good at picking winners and losers and saving capitalism?
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?