One might hope that the massive public opposition to the bailout would sway conservative opinion against the bailout but no such luck. The Heritage Foundation is still arguing that the government should “provide sufficient market liquidity to comprehensively resolve the financial situation.” Very strangely, Heritage points to this as a sign of alarm: “Tycoon Hugh Hefner has been advised to cut back on staff at his multimillion dollar glamour empire as it struggles to cope during the global economic turmoil.” Poor baby. Is he too big too fail too?
Source link: http://blog.mises.org/8617/conservatives-for-the-bailout/
Conservatives for the Bailout
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There are conservatives for the bailout, but there are also conservatives against it, and the ones against it have blocked it. The conservatives for the bailout are mainly Wall Streeters and think tankers. Those opposed are politicians, small businessmen, voters, talk radio, and bloggers.
Of course there are conservatives on both sides of this issue. There are genuine conservatives that believe in free markets, and the fake neoconservatives that believe in big government and centrally-managed prosperity. The American public had its chance to pick between the two in the Republican primary, but decided to nominate the carefully-scripted, well-funded, politically-connected fake (John McCain) instead of the real deal (Ron Paul).
There was also a pundit from the Heritage Foundation on Bill Bennet’s radio show this morning (9/26, around 7:30 CDT), who was against the bailout.
To say that “The Heritage Foundation is still arguing that the government should ‘provide sufficient market liquidity to comprehensively resolve the financial situation.’” is misleading. There are some there who are in favor of the bailout, and some who are against.
Within the ‘yes’ ranks are those seeking one last big payoff before Hoover leaves office. Of these yesmen, how many actually support the idea of bailout based on what they consider conservatism?
This rent-seeking makes Al Gore look schoolboy.
Funny, I thought Ron Paul was a libertarian, not a conservative.
Reserve Banking and Porn are basically the same thing. You are given a picture of something to use in place of something you already have, in order to get what you want, with what you already have, and pay for it with something you had to work for. The only thing in the entire transaction that wasn’t yours to begin with was the “thing” in the picture! The Pornograher/Banker got you to pay him to use what you already had by convincing you it was the only way you were going to get it!
When to we start arresting the CEOs and politicians responsible for all this?
These guys are like parrots with one line: “Awk! More liquidity! Awk! More liquidity!”
The issue is NOT more “liquidity.” The financial system cannot operate under the same old easy credit rules that it did before this crisis hit. In fact, all of this “liquidity” is what is causing this credit in the first place.
Look, if your basement is flooded, the answer is not to pump in more water. Yet, we are told that is how to solve this current problem. Right.
I made a mistake in the first place. I meant “crisis” not “credit.”
What does it mean to be a conservative, anyway? I doubt many of us share much common ground regarding economic and political theory with those who call themselves “conservatives” these days. And has the Heritage Foundation ever been anything more than a parrot of the Republican party line? They’ve got a graphic on the front page of their website that asks: What Would Reagan Do? Good grief. I expect such trivia from talk-radio, but from a think tank?
Why is it acceptable to debate this issue at the Heritage Foundation? It is completely ridiculous. Why are they still paying those who know so little / get so confused that they think this is a good idea?
Caveman,
I pretty much consider myself a “conservative” and, in fact, after becoming more “liberal” (in the modern sense) during college and immediately after, I returned to those roots, however, now those beliefs are considered libertarian.
What else is to be expected from conservatives?
Let’s hope “arrests” are as far as it goes. When a country get scared and hungry, or worse, embarrassed, it can do truly frightening things, even to itself. That’s why it is so crucial for libertarians to know their lines and to be ready to take the stage. We may be the only ones in a position to short-circuit a reign of terror, but only if we are prepared and willing to make the effort.
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