The Frightful Face of Stimulus, by Llewellyn H. Rockwell, Jr.

2008-02-19
By

Among businesspeople, bankers, and investors, there is a growing fear that the economy is headed towards recession or already in one. But that alone is not the source of worry. After all, an economy if left alone to function in freedom can recover. The real problem has to do with the political response. There is every indication that no matter who comes to be in charge in November, we face a future of massive spending, inflating, and regulating.

And here is the real danger. One only needs to look at such preposterous measures as the “stimulus package” that congress passed to much fanfare. Dumping money into consumers’ hands, drawn from wherever they can get it, is the only means these guys can dream up to shore up prosperity. That only proves that they don’t know what brings about prosperity in the first place, which is not congress but free enterprise.

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Stiff Right Jab response: Rockwell is right on target. Free enterprise, cutting taxes, abolishing unconstitutional and unintelligent regulatory agencies, is the solution, not Keynesian (Fabian Socialist) bread and circus tricks.

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  • jackal1994

    I agree that the stimulus package is a joke. But I don’t think “free enterprise” is such a great answer.

    If you remember in the late 1980′s the republicans de-regulated the airline industry, the power industry, the health care industry, and the phone company (remember when it was just called the phone company?). Argument A) said that there was such limited choice that the customer was a captive customer and needed to be protected from being beholden to the whims of companies.

    Argument B) was essentially that there was MORE than enough competition out there to lower prices and drive up services if congress would just get with the program.

    Well, I think we see how well that turned out. Double digit increases in cost, lowered patient care, incredibly high deductibles (personal and families) before the insurance company pays diddly.

    So, forgive me if I have my doubts about “free enterprise”. Deregulation of these industries was the absolute worst thing for consumers we could have done. But hey these companies owning hospitals are trading at $160 per share so rock on! Screw the consumer!

  • Squiggy

    jackal, your analysis is so shallow it defies reality.

    My phone has 400 different functions, and basically free long distance. FREE LONG DISTANCE! It used to be a buck or two a minute, when it was all one company. And it’s so cheap, EVERYONE has a phone. Without competition, this would have never happened.

    Here in the South, most hospitals are non-profit. They are (mostly) run by church systems, like the Baptists and Methodists, and they offer wonderful care. They’re expensive, but that’s because of bloodsuckers like John Edwards and his ilk, not because of their “profit margin” (they don’t have one). (By the way, ever go to the “Atheist Memorial Hospital”? Didn’t think so.)

    As for power and air travel, your “argument” (whining) is just stupid. You’re wrong on so many levels, it’s not funny. They are both far lower in cost (adjusted for inflation) than twenty years ago. If you can’t afford them, too darn bad. Don’t fly, and turn off that hot tub (I checked the Bill of Rights – you don’t have a right to fly, nor a right to a hot soak).

    But wait, I’ve got an even better idea. Go look for a (better) job. Those pricegouging anal-retentive capitalist companies you love to trash are looking for more (and better) workers, so their stock can go above 160. And they’ll pay you well for that.

    You go get that job, and then you can hate yourself, instead of successful people.






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