The circus on Capitol Hill is alarming...not because of the dancing elephants, braying donkeys or those miniature rinos...it's the clowns...you know, the creepy clowns that are supposed to make you laugh, but you can't see behind all that makeup so, you're just not sure. One thing I know for sure...they're never very comforting.
Does anyone really think that this bill will help what is going on?
Our President today said, "Our nation will sink into a crisis that at some point we may be unable to reverse." This to my mind reveals a hard-line Keynesian economic view that is truly nonsensical.
- He believes that an Act of Congress will save us from an economic crisis.
- He believes that we will reach an economic point of no return
First, Reagan understood, and with the help of Congress, helped us recover from the ill-suited (and ideologically similar to our current President) Jimmy Carter. He understood that government is not the solution, but the problem. So, he set about lowering tax rates and getting government out of the way...which inevitably led to a tremendous amount of production by individuals in the free market.
When government tries to help people, it is legal plunder. Federal government is not there to help me...it is there to protect my rights and defend me from foreign invasion.
So, in the case of this travesty of a bill, the dems are not even pretending to put things in there that are stimulus related...it's a power grab, plain and simple. And our President is standing behind his party, come hell or high water...irrespective of the horrendous nature of the bill.
Second, markets have cycles...there's no such thing as a point of no return, unless you're talking about massive government intervention claiming that regulation is needed more than economic freedom. That's still not a point of no return, but it's sure as heck close.
So, the clowns, instead of making us laugh, continue to spout doom and gloom unless "something" (i.e. pork for me and my friends) is done immediately! Oh, and don't listen to Rush.