So Long, Capitalism
The United States government as a free market nation officially ceased to exist this afternoon, when President George W. Bush signed into law a so-called “economic rescue” plan that will use $700 billion of your tax dollars to purchase worthless “assets” which were created after the government mandated approving loans to millions of homeowners who simply couldn’t afford them.
The largest federal intervention into the free market economy since the Great Depression, the new bailout law is as irresponsible as it is ill-conceived, and there is mounting evidence that it will actually worsen – not fix – an American economy that shed 160,000 jobs last month, the highest number in five years.
The law tramples on the separation of powers doctrine, runs roughshod over even the loosest Washington definitions of accountability, raises the national debt to $11.4 trillion and represents the largest expansion of federal power since the Great Society.
We know what you’re thinking … what could possibly go wrong?
We’ve written on the bailout extensively here, here, here, here, here and here.
Each one of those articles is chock full of reasons why this is the absolute worst thing America’s leaders have done since … well, ever.
We’ll have more on the fallout from this atrocity in the days and weeks ahead, but in the meantime grab a forty and pour it on the grave of American capitalism.
It’s dead, people.
UPDATE – Ironically, our buds over at the Palmetto Scoop are saying that “they had to pass something to save the free market.” Whatever … that’s like saying you should blow your brains out the next time you get a headache.
Comments
By PalmettoPulse on October 3rd, 2008 at 6:13 pm
‘Whatever … that’s like saying you should blow your brains out the next time you get a headache.” I just choked on my pizza that was so funny. GREAT ANALOGY….
By Don Johnson on October 3rd, 2008 at 6:27 pm
Amen, brutha.
By Lee on October 3rd, 2008 at 10:26 pm
The most recent (this evening) tally suggest that the cost for this bailout is 1.3 trilion dollars.
I am ashamed to be a republican, and a “free American”.
By We're Officially Effed on October 3rd, 2008 at 10:26 pm
May the rocks start falling on our heads. Death by rocks will be gentler than starving to death and bankruptcy.
By Cooter Brown on October 3rd, 2008 at 10:52 pm
we gots five dern scalawags in da house– day all voted fer dat damnable bail-out of dem hi-faluitin’ yankee blood-suckas (in my day, we called ‘em outlaws, thiefs, and (well I’d betta not say what I’m a thinkin’ rite now). course, we knewed dat Miss Gram was a turn-coan, no account, lo-down salawag, so no superize there. Jim the Mint held da line, but t’ no account. The Mint gain a heap of respect from ol’ cooter– I mite have t’ stop calling him the mint… naw!
By GrahamCracker on October 4th, 2008 at 12:00 am
The boys at Palmetto Scoop are just playing lap-dog for their boy Lindsey Graham, who pretty much at this point has no principles other than (miracle of all miracles) getting John McCain elected.
By dj on October 4th, 2008 at 7:31 am
yeah…this and all the other socialistic programs for the “people” like universal health care and telling you the hard work you did to make good money isnt fair to the rest of the “people”. obama gets elected and voila! socialism in America!because gosh darn it, its about the “people” and doing things for the “people”. hail our great leader!it starts small with no one looking and noticing then it gets bigger until its finally too late. its time to bail when you have kids who creepily sing worship songs to the “leader”. no F**king way.
paranoia?
By questions on the bailout bill on October 4th, 2008 at 7:55 am
How much accountability will the Treasury Secretary have under this bill?
What else is in the bill regarding us giving up our banking privacy rights ?
How does going into more and more debt strengthen and shore up our ailing economy?
How did our South Carolina politicians vote on this giveaway? Why aren’t they being grilled by our state’s investigative journalists?
Why do we let the same bozos who are now almost bankrupt and in charge of this fiasco dump their worthless portfolios on the taxpayers at inflated prices?
By The Old Kentucky Miner on October 4th, 2008 at 10:40 pm
Is Jim DeMint the only conservative South Carolina has left in its congressional delegation? Shame on you Lindsay Graham. Governor George Wallace had it right when he said of the Democrats and Republicans were like Tweedledum and Tweedledee. He is still right, there’s not a dime’s worth of difference between the two. Shame on you John McCain. Lyndon Johnson had nothing on you or George W.
By Reader on October 5th, 2008 at 2:03 pm
And shame on ‘The State’ newspaper for being the mouthpiece of mob boss Jake Knotts yet again today, metro section. The paper really should change its name, as they don’t represent ‘the state’ while they propagandize for Jake Knotts. The Lexington County Republican Party SHOULD self destruct — or at least correctly label themselves. They are not operating on conservative principles and should not call themselves ‘Republicans’ if they continue to condone the railroading tactics of Jake Knotts and his band of spendthrift porkers and hooligans.
By Brian Frank on October 5th, 2008 at 11:21 pm
Lindsey Graham and John McCain LIED
http://www.youtube.com/watch?v=GTI2L3zIbuI
Lindsey Graham said he was in SC talking to small business owners and they supported the “No Bank Left Behind Bill” but Lindsey Graham never came to SC. HE LIED! HE LIED! HE LIED! He did what he always does, which is to do what he wants to do against the American People!
On Nov 4th, vote for whoever is opposing Lindsey Graham!!!
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