It shouldn’t surprise you…

…that the man leading the party that has ascribed an insignificant fluctuation in worldwide temperatures to mankind, packaged the phenomenon as a crisis, and crowned a failed Presidential candidate (don’t miss the link – it’s Al Gore – 100 lbs. ago!) and hypocrite as it’s King…

…would blame the failure of a private financial services company during what Alan Greenspan called yesterday a “once in a century” financial crisis brought on by a completely predictable (as to what, not when) collapse in the price of homes when the American congress is controlled by Democrats.

…and John McCain is the liar, huh?

Obama, the Democratic nominee, said President George W. Bush‘s policies have caused “the most serious financial crisis since the Great Depression.” He also called for “modernizing” regulations at a rally in Grand Junction, Colorado.

Obama’s economic literacy is limited to the balancing of a checkbook, and even that is an assumption on my part. Obama’s paycheck has never originated from anything other than a government entity. Anyone want to take a guess as to what Obama means by “modernizing” means in this context?

Here – let me give you a hint. Is it…

a. Augmenting

b. Expanding

c. Multiplying

d. Swelling

e. Widening

f. All of the Above

In all fairness, McCain was also quoted as saying more regulations are indicated, but at least he wasn’t obtuse enough to make a lame attempt to leverage the situation politically and blame it on President Bush.

Both candidates were trying to score points with voters looking for reassurance after Lehman Brothers Holdings Inc. became the latest casualty on Wall Street.

Guess what America? Our economy has cycles. Companies that have irrelevant or outdated business models are supposed to fail and all the better if it happens quickly. Sometimes the risk reward quotient yields the risk; the risks of doing business are realized. Our government can’t be expected to mitigate every risk of life and living in America.

…unless you are a pandering politician.

7 thoughts on “It shouldn’t surprise you…

  1. Obama worked for a private business consultation firm after he graduated from Columbia.
    McCain, on the other hand, has never had a private sector job.

  2. Maybe I’m being too optimistic, but I noticed Palin didn’t say MORE regulations but said REFORM the regulations. Those could be two very different things.

    What turned the 1929 market correction in to a depression was government regulation. What what made the Depression Great was tax increases on businesses & “The Rich”. I really hope someone out there knows that.

  3. Mr Shirt, there are a couple of good books out there on Franklin Delano Roosevelt’s economic illiteracy. Delano caused what should have been a bad 3 or 4 year recession, to become a 11 year depression. His grasp of ecomonic matters is the equivelent to a President saying the earth is flat, and it is the center of the universe, with all planets (and the sun) revolving around the earth.

    The only credible defense I’ve ever heard of him, was that he had to adapt several failed socialist/fascist policies to prevent a full blown socialist/fascist take over of the country. It muted the extremists attraction.

  4. You’ve heard of the Democrats wanting a “windfall profits tax” on energy companies. We had something like that during the 1930’s. If a business tried to build up cash, so they could make major investments, the fed’l gov’t confiscated that cash. It made it almost impossible for businesses to make any investments. They were forced to spend the cash as it came in.

  5. Chuck,

    That is actually what I was referring to. Herbert Hoovers zeal for interloping & regulation, took the market correction, & likely a short recession, & turned it into a world wide depression.

    FDR, who really had little interest or understanding in economics, entered the scene with his foolishness & turned the regulation up to 11. None of this solved the problem & prolonged the depression.

    Things were “improving”… you know, like unemployment at 14% rather than 22%… until 1937 when FDR raised taxes on the rich & business that things went to total hell. His actions ensured that a full recovery would not be seen until years after FDR’s death.

    Sorry if I wasn’t clear above.

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