The same place it always ends...
L
Posted on 10/01/2008 2:02:51 PM PDT by posterchild
Treasury Secretary Henry Paulson's massive financial bailout may be the beginning of an era of government expansion.
If Congress passes the $700 billion plan, the odds increase of greater government involvement across the economy, experts say.
"The shutting down of government involvement and the market knows best — that era is over," said Lawrence Mishel, president of the pro-union Economic Policy Institute. "Market fundamentalism is taking a beating in policy circles and the public mind."
The free market appears to have a dearth of defenders. "Not enough Republicans are making the argument for free markets," lamented Sen. Jim DeMint, R-S.C. "There is no discussion of pro-growth solutions like cutting the corporate income tax and capital gains tax and fixing Sarbanes-Oxley."
Actually, House Republicans are balking at the Paulson plan. They have proposed that the federal government insure mortgages but require loan holders to pay the premiums. They also want deregulation and tax cuts to spur private capital.
Yet big government boosters see the crisis as an opportunity.
Sen. Bernie Sanders, I-Vt., claimed, "This can bring about a turn toward a new era. If we have the money to bail out Wall Street, we can provide funding for health care, childhood poverty, infrastructure and sustainable energy."
Some observers say we may already be in such an era.
(Excerpt) Read more at investors.com ...
The mention of 'Ford Industries' (ticker 'FORD') later in the article looks like a screw up.
Of course it is. The only way government can get The People to give up this much with so little control is to get us to BEG for it, which is what we are collectively doing.
“Please enslave us and our children’s children, oh great monolith!”
Taxpayers will never see the $700 billion again.
The left (and this includes Bush and Paulson) have been using greed to see the plan, telling concerned voters that “the government could actually MAKE money on this plan.”
This is a lie, because the Government will not collect the debt on these homes, under the Democrats, the Government will forgive the loans, and the ‘rich’ (i.e., taxpayers) will have bought nice middle-class homes for the poor.
Taxpayers will never see the $700 billion again.
The left (and this includes Bush and Paulson) have been using greed to sell the plan, telling concerned voters that “the government could actually MAKE money on this plan.”
This is a lie, because the Government will not collect the debt on these homes, under the Democrats, the Government will forgive the loans, and the ‘rich’ (i.e., taxpayers) will have bought nice middle-class homes for the poor.
On its way? Where has this guy been the last few years??
Yep, let’s get geared up to stand in line for our free soup.
I must have been napping.....when did the old one end?
Really! This bill, I think, will put us past the tipping point. I think we're on a fast path to socialism now, and it's going to be all downhill from here on out for the socialists. Many Dems want full-blown socialism, and this is the ticket.
I'm beginning to think the fastest path back to freedom is to let this all happen, then in a generation or two have an armed insurrection take the country back by force.
FDR started all of this kind of nanny state crap. There needs to be an end somwhere. but where?
an “era”-—what’s an “era”?
a unit of time -- measured in years!!
/mark
Yes.
Next question...
In a generation or two, more people will be so indoctrinated in socialism, you’d be hard pressed to find enough people to rise up.
Era - my laundry soap.
LOL!
This is beyond mortgages
You are underwriting “derivatives” and no one even knows who owns them or how much is owed ... worldwide
some figures suggested have been in the hundreds of TRILLIONS of dollars of worldwide debt
Paulsen reportedly (interviews last night on Cavuto) pulled the figure of $700 BILLION out of his rear end. All he knew was he needed “a lot” of money
Our government (formerly of the people, by the people, and for the people) is tonight committing the full faith of our country (against the expressed will of the people) to throw $700 BILLION into a financial black hole that no one really understands or knows how to stop
That is why Bush has tears in his eyes
God Help America. I think Uncle Screwtape is chuckling at Uncle Sam somewhere
The same place it always ends...
L
I don't know... I think a lot of people might come to realize it's not what they expected.
That's one deep rear end!
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