Bailout: Good or Bad?


The Washington politicians have weakened and passed the bailout bill. As a result, the Dow Industrual Average has fallen steeply and most stock portfolios have lost 30% or more from their peak. The politicians up for re-election in November caved and pushed the bailout legislation through Congress over the objections of many thinking Americans.


Using taxpayer money to "save" Wall Street brokerage houses and failing investment banks was wrong and it will be shown to be so in the days and weeks ahead. Moreover, it's a step toward government control of private business and a socialist state. It's an ideal condition for the collectivists to finally take over America.


Admittedly, there are folks in the board rooms of corporate America who have lost their moral compass. The CEOs of AIG, Merrill Lynch, et al and the heads at Fannie Mae and Freddie Mac along with supposed Congressional watchdogs have been dishonest with the public and theiir shareholders. Others no longer care that the gap between their compensation and that of average workers down on their factory floors has grown beyond all reason.


The Coming Collectivist Society

The government controls our military, law enforcement, the courts and now the financial sector of the nation's economy. We are now dangerously close to a complete socialist system which is precisely the aim of many on the political left. The only thing remaining for freedom loving Americans are their property rights which are already in the sights of the collectivists through the abuse of emminent domain.

How long will it be before we find ourselves in a society where a person's every action will be dictated and controlled by centralized planners and secret police? It won't be long if we elect the wrong people to office on November 4, 2008. An Obama victory and likely enlarged Democrat majorities in both chambers of Congress will pave the way for a flood of legislation to further tighten controls over private enterprise.