Populist Mumbo-Voodoo-Jumbo Drives Democrats

Personally, Obama's mxing of class warfare and identity politics leaves me in discomfort. I automatically twitch when I listen to him speak about Wall St. and it bums me out. The scary thing is that people actually buy into his populist drivel. After all, it's all Wallshington St. now.

During the health care reform debate it was charged that conservatives were breaking all sorts of critical thinking laws. Yet, the same people (professors) who charged this are silent on Obama's bull shit about business. Sometimes I listen to him and his cronies and it boggles the mind what this guy is saying.

What Goldma Sachs (the folks who, you know, politicians willingly took campaign funds from) did was not against the law per se. Unethical? Perhaps. If they broke rules or misled people (and it looks like they did) then penalize them and move on. Assuming it's an isolated case. As for manipulation of the markets, hate to break it to you but that happens every single day on a multitude of levels across not just the markets but in our daily lives. Despite this, the markets have persisted in all its imperfections. 

Ethics - or lackthereof - and risk are part of the whole process. Buyer beware for cripes sake. Have we become so pathetically weak of mind that we need the government to regulate everything at every turn? Is it that much of a stretch, given Obama's rhetoric, that he wants the state to have more control of the markets?

(Excessive) state regulations on the markets are like ragweed. Pull one out and the next day another pops up elsewhere. I don't defend - and never will - bad behavior, however, the way the government is looking to make Wall St. the sole scapegoat leaves me with two words: Cui bono?

My father used to always tell my mother: Stop babying the boys. Let them get hurt and then they'll learn.

Guess who was right in the long run?

But this is just a personal take.

From Capitalism Magazine:

The housing crisis of 2008 and the recession are products of political mismanagement, not Wall Street fat cats. It was government that coerced banks into loaning billions in the form of mortgages to unstable home-buyers whom no lender would have touched with a 39 and a half foot pole otherwise. It was government that, through the federal reserve, manipulated interest rates throughout the 90's and 00's to keep the housing orgy swinging. It was government that spent away the wealth of the internet age on unsustainable entitlements, bungled adventures in the Middle East, and Alaskan bridges to nowhere. It is government that is spending still more on the harebrained stimulus package, bailouts for GM and Chrysler (the former recently demonstrating mind-boggling cynicism with the lie that it has paid back the American people) and ObamaCare. And it is government that will bankrupt this country once socialized healthcare takes full effect, entitlements devour trillions each year, and the private sector is bled dry of every last job by a VAT, regulations, mandates, and progressive taxation.

Of course, there's no way he can prove health care will bankrupt a nation - a more appropriate angle is it can put a severe strain on it. Moreover, I wouldn't absolve the private sector completely, but I do feel we under estimate the corrosive  role of government in the process. On the other hand, one can offset this remark with successful measures passed by the state to make the markets more "functional." What those can be I'm not entirely sure. In other words, it's a counterfactual.