Thursday, April 2, 2009
Dumbest Thing I Have Heard in My Life - We Are Doomed
I have not seen the exact quote in press yet but Obama in a Q&A session said he is "putting an end to the cyclical boom bust cycle of our economy with unprecedented regulatory reform." WHAT????? I am going to go off for a second. Our problem currently is that we have not let the destruction side of the coin in capitalism to work. Capitalism works based on production and destruction. You have to have destruction!!! Lehman Brothers should have been destroyed in 1998 with LTCM. You know how much better our world would be currently if that would have occurred? It would have killed the equity bubble, ushered in a normal recession, and killed what we are facing today. So basically what Obama is saying is no more capitalism for the United States. In comes socialism / communism until that system breaks down. Ask Russia how it worked. You can't eliminate cycles. It is impossible. At best you can push cycles off until it gets to big to push and then you implode. I thought one of Obama's strong points was his IQ. I was no fan of George Bush but at least I didn't ever him uttering something that stupid. As a nation we just must be cursed for horrific leadership. Actually it is our process of selecting leaders. A popularity contest which is why our nation was never meant to be a democracy but a republic. Ask France how there democratic history has treated them. Okay done with my soap box but still shaking my head in horror.