Obama policies may lead US to third world status – Michael Moore to lead cheers celebrating death of capitalism until starving peasants come to eat his fat a**
I figured that you deserved it after my insipid gym post yesterday.
So what do these guys actually have to say? Essentially that the US has too much regulation and too large a deficit for the economy to recover quickly and fully and with the Obama administration adding more of both things have a strong possibility of getting worse.
There are “troubling similarities” between the US President’s actions since taking office and those which in the 1930s sent the US and much of the world spiralling into the worst economic collapse in recorded history, says the new pamphlet, published by the Institute of Economic Affairs.
In particular, the authors, economists Charles Rowley of George Mason University and Nathanael Smith of the Locke Institute, claim that the White House’s plans to pour hundreds of billions of dollars of cash into the economy will undermine it in the long run. They say that by employing deficit spending and increased state intervention President Obama will ultimately hamper the long-term growth potential of the US economy and may risk delaying full economic recovery by several years.
Although the authors support the Federal Reserve’s moves to slash interest rates to just above zero and embark on quantitative easing, pumping cash directly into the system, they warn that greater intervention could set the US back further. Rowley says: “It is also not impossible that the US will experience the kind of economic collapse from first to Third World status experienced by Argentina under the national-socialist governance of Juan Peron.”
The paper, which recommends that the US return to a more laissez-faire economic system rather than intervening further in activity, has been endorsed by Nobel laureate James Buchanan, who said: “We have learned some things from comparable experiences of the 1930s’ Great Depression, perhaps enough to reduce the severity of the current contraction. But we have made no progress toward putting limits on political leaders, who act out their natural proclivities without any basic understanding of what makes capitalism work.”
The Chinese apparently think so too given that they have announced that our debt is risky and that they will start spread their reserves among a basket of currencies.
Michael Moore meanwhile has decided to go all in with his latest film that declares capitalism evil, ironic considering that it’s the capitalistic system that keeps his fat untalented ass employed. Well maybe not – I guess he could work for the uber-state making propaganda films, but generally dictators want their propaganda to have some sort of redeeming social value.
I’m kind of curious. What do you think the response would be if some one organized a campaign to send this article about the mistakes the government is making in dealing with the recession to every member of congress. It would take someone with a large audience (Rush Limbaugh, Glenn Beck on radio, I can’t think of anyone on TV – ‘duh Glenn Beck, and some prominent bloggers, like Ace of Spades, Instapundit, The Other McCain, and Michelle Malkin
) to spread the word, it would require organization (a mailing list with all the congresspersons and senators email addresses, and addresses for sending hardcopies, it would also be fun to set up robocalls to dial all the offices and just read the article out into voice mail, but I dream) and it would have to be multi-pronged (email, snail mail and notification of news outlets that the campaign is underway. I think the slogan “Adam Smith would not be optimistic” would look great on a sign at a tea party). The way I envision this is that everyone who signs up is given the email distribution list with all 535 members of congress, and maybe some media types, on it as well as an electronic copy of the article and some suggested keywords to work into the subject line. They can then email away. They are also given the addresses for their two Senators and Congressperson and encouraged to send a hard copy of the article to each. This can go through multiple rounds and new material could be added.
Anyway just a wayward thought.
Update: Welcome Instapundit readers. I was caught unaware or I would have put this welcome up earlier. See what happens when you decide to go to the gym and the mall. :-P. Feel free to comment I am new at this and welcome the feedback.
Another update– If you want to help a girl out take a look at this video and tell me what you think.