Today we are witnessing the biggest robbery in the history of the human race. And, we are watching it occur in the bright light of day. All you have to do is pick up a current newspaper, tune in to the national news, or if you want to watch it in real time tune in to C-SPAN. The robbers are rationalizing their intended theft by giving nice names like "bailout" and "stimulus" but don't be fooled, this is a robbery.
The real tragedy of this robbery is that the victims being stolen from aren't able to defend themselves. By saddling ourselves with nearly a trillion dollars of new debt we are ensuring that our kids and grandkids will be paying for our excess for decades to come.
In addition to robbing future generations we are robbing ourselves of the freedom to conduct business in a free and open marketplace.
Many will say that we need this bailout to jump start the credit industry or we need this stimulus package to kick start the economy. The fact is that it was government interference that caused the problem in the first place. And continued government interference will only deepen the problem and lengthen the amount of time needed to correct it.
We are quickly moving from a free market economy to a centrally planned one. Instead of an economy driven by simple supply and demand we are moving to an economy where government will determine who succeeds and who fails. There will be little or no regard to efficiency and even need. The only factor that will be talked about is growth and stimulus. Innovation, competition, entrepreneurism, and all other positive hallmarks of a free market will become things of the past.
Fasten your seatbelts folks. It’s going to be a rough ride.