I knew it felt like someone was wandering around in there - apparently it was Ken, who says a bunch of stuff I wish I had...if I could've gotten my thoughts together.
By far the worst result of the Bailout is deeper Government intrusion into the Private Sector. The crisis was not a failure of the Market. The Market expects there will be downturns, corrections or cutbacks at times. No one likes them, but only certain forms of Government abandon responsible behavior to avoid them.We used to have wise and responsible Government; limited and small, it taxed little and meddled less. That allowed a Free Market in a truly Private Sector to transform a wilderness into the world's richest economy in mere decades. The inertia of that Economy carried us forward despite the low speed, high drag baggage of Woodrow Wilson's Socialism, FDR's New Deal and LBJ's Great Society.
Of course, there is a lot to be said for this analysis, too.
Posted by Vox at October 6, 2008 07:41 PM | politics