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My personal musings about anything that gets on my radar screen--heavily dominated by politics.
|That must be what it feels like to have your livelihood depend on the performance of the stock market right now.|
In case you've been in a cave all day, the Dow plunged another 300 points on Monday to finish below 7000 for the first time in 12 years. It's now down 23% since the beginning of the year--18% since President Obama made his prime-time pitch for the "Stimulus Package."
How's that working out for you?
Part of the problem today was the news that AIG posted a $61 billion dollar loss in the 4th quarter (is that calculated with or without the $85 billion the government bought it for in September?), and would require another $30 billion in bailout money.
Here's my question: has anybody taken note of the fact--THE FACT--that the bailout hasn't helped, and the stimulus hasn't helped, and the new omnibus spending bill is so heavily laden with pork that it actually woke up John McCain from his hangover today?
So when is the next bank going to come begging for more?
And who's after them?
And isn't this the point on the slippery slope when we begin noticing how much speed we've gained and "damn, don't those trees look like they're getting close?"
John McCain had one--ONE--opportunity to stop this whole thing from doing this, and instead he went back to Washington to interrupt his campaign to look completely useless to lose an election so he could throw his support behind something the rest of the country hated.
Really, what were the odds that the People actually knew what was best?
Here's my theory: the country at large, according to polls, was 70% against the bailout, but the wise old Congress passed it anyway. At that point, the country at large threw up its collective hands and said "if we're going there anyway, let's go fast," so they went ahead and elected an inexperienced radical of little achievement to drive the ship straight off the cliff.
Here's my greatest fear: it's taken 70 years for somebody (Amity Schlaes) to write an accurate history of FDR's Presidency, noting the ineffectiveness of the New Deal; Nadeem Esmael of the Fraser Institute told our RMA radio audience last week that the Canadian socialized medicine plan was good at first, great by about age 25, then slowly collapsed under its own weight, until now at age 50 everybody recognizes (everybody but American Democrats, that is) that it doesn't work.
My great fear is that this country will buy Obama's Socialist/Fascist governing model until the Federal government is the only effective employer in the entire country.
And when my children are 50 years old, they will have never known a time that they got paid for the work they did, or had the option to better their condition through hard work and talent. And then they're going to ask "Who did this?" And I have to say "we did, and I'm sorry."
America has chosen to be soft, as my brother has noted. I only hope there are enough of us who are terrified of this development to turn the tide back.
If you would like to join in pushing back the tide, note the links and pictures from the Liberty Rallies last week, and then consider joining other movements like this one to unite around ideas and principles (parties be DAMNED!) to take back this country . . . just a little bit.
I'm serious, folks. The Dow has not found it's bottom yet; the banks aren't done needing bailouts; and Obama is FAR from done redistributing the wealth. And we can't afford 50 years to find out how bad it can get.