One problem with the half-assed market system in America is that people are overly insulated from stupidity. Corporations or bankers make stupid decisions and are bailed out by the government. Mortgage borrowers make stupid decisions and are bailed out by the government.
The system selects for incompetence and mediocrity at almost all levels. We shouldn't be surprised at the increase in these traits in the society. The only reward for responsibility and prosperity is to have more of what you've achieved taken from you.
In another post, to describe the political attitude toward the economy, I used the metaphor of someone trying to fix a piece of complex electronics by hitting it with a ball-peen hammer. Bush is no exception to this, nor are a regrettable number of other Republicans. To the best of my knowledge, the only president in my lifetime to actually slap wage and price controls on our country--a hallmark of collectivist economics--was a Republican.
That most Democrats are even more eager to whack things and have even bigger hammers is not much comfort.
Current Events » in reply to re: Bush "fixes" mortgage problem
re: Bush "fixes" mortgage problem
The whole thread (39 posts)
- Bush "fixes" mortgage problem
- I see it as politics as usual
- Bush "fix" another illusion
- nah...
- ...and here.
- re: Bush "fixes" mortgage problem
- I'm sure we haven't heard it all yet. Maybe won't.