Government can’t stop recession
Published 12:00 am Wednesday, February 6, 2008
It’s not the function of Congress to “bail out” free enterprise, (key word is free) to give us some of our own money back (which they must borrow) to postpone a recession. Guess what? Recessions can and do happen just as business cycles. There are no magic bullets. Whenever Uncle Sugar puts his big nose into the free market we all lose long-range. It’s happened before, but who cares about the historical record?
How did this get started? Well, Uncle Sugar pressured lenders to make loans to high-risk borrowers under the scam of diversity or some other label. Now, because about 6 percent of all homebuyers cannot make payments, the media-pundits are in a twist about a recession. Thanks Uncle Sugar. Does anyone think the “housing market” can expand until a home is a million a pop? Get a grip. You think a home should be $300,000 in central Louisiana? Get the drift? There are natural ceilings and cycles.
Now Congress sees a golden opportunity to improve its awful rating. Congress jumps up and offers us a few hundred of our own money. The sad sorry part of this scam is that too many people believe this is what Congress should do — manage each and every aspect of their lives and even business cycles. They trust the same Congress that stole all their Social Security money (to buy votes) and can’t manage a hot dog stand, you suckers. You will be sorry, no matter who is the next president.
Doug Schexnayder
Vidalia resid