Global News

Monday September 06, 2010

ZeroHedgePoster07

The role that governments play in various societies varies greatly. However, if there is one tendency for ALL governments, it is that they tend to always move toward control. With the ability to print money and tax the masses, they also seemingly appear to have unlimited resources. Those two fallacies have brought down many governments and politicians. Last night Barack Obama promised that the Federal government would be the knight in shining armor. 

One of the most crazy examples of government gone wild just got pulled from the table in Houston. City council was going to consider giving anyone who wanted to increase their credit score up to ,000 to pay off their credit cards and other debts. Total insanity and the outrage became clear.

Back at our nation's capital, President Barack Obama knows Americans are unhappy that the government could rescue people who bought mansions beyond their means. But his assurance Tuesday night that only the deserving will get help rang hollow. Even officials in his administration, many supporters of the plan in Congress and the Federal Reserve chairman expect some of that money will go to people who used lousy judgment.

Many CEO's need to be fired and entire boards removed!

The president skipped over several complex economic circumstances in his speech to Congress saying, "We have launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and refinance their mortgages. It's a plan that won't help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values."

Easier said than done.

Defending the program Tuesday at a Senate hearing, Federal Reserve Chairman Ben Bernanke said it's important to save those who made bad calls, for the greater good. He likened it to calling the fire department to put out a blaze caused by someone smoking in bed. "I think the smart way to deal with a situation like that is to put out the fire, save him from his own consequences of his own action but then, going forward, enact penalties and set tougher rules about smoking in bed."

In other words, it's the only thing they know to do. The new stimulus bill and the new philosophy in Washington these days is all about the government doing everything. But then, the last eight years has been all about a few rich businessmen (can you say OIL?) being the controlling powers. I wonder if there could ever be a balance? Anyone in favor of a third party?  :-)

house.gov CampaignForLiberty.com Congressman Ron Paul's opening statement and questioning of Federal Reserve chairman Ben Bernanke at the House Financial Services Committee hearing, March 17, 2010. Dr. Paul attempts to instruct Bernanke in the basics of Austrian Economics. Video Rating: 4 / 5