Friday, March 6, 2009

Forget Iceland - OSG is off to Galt's Gulch

Ok, so I was right and the loonies were wrong. $750B didn't do diddly. The S&P is one-half of its high 18 months ago, and headed further down today. Unemployment at 8.1% is the highest in decades, but the new treasury secretary can't find anyone who wants a job working for him.
Congress is drunk-dipping our collective ATM cards, the president is partying hardy at the white house every night, the US is on its way a People State, and Atlas is damn close to shrugging.

For goodness sake, what are we doing? 8570 earmarks-do you think that's ok? Do you seriously think that increasing taxes on people who create value, and then spending it on pork barrel projects, unemployment benefits, and welfare, will lower the deficit and increase employment?

Do you honestly think nationalizing banks will make people invest in them?

Do you think taking away the fear of failure and the benefit of success will motivate acheivers?

When has that assinine theory ever worked?

…”the federal government is the only entity left with the resources to jolt our economy back into life. It is only government that can break the vicious cycle where lost jobs lead to people spending less money…” Obama press conference, Feb 2009.

Good heavens, do you honestly believe that?

Have we forgotten the lessons of the last century, that coerced self-sacrifice causes a society to self-destruct?

Where are the men of the mind? Has Galt spirited them all away?

Hey John, don't forget me...I'm packed and ready for the call.

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