Backing your Beliefs with Money
by Richard
This business of bailout nation is spinning out of control.
I’m starting to experience compassion fatigue. How about you?
In their collective hubris, the combined forces of the executive and legislative branches seem intent on systematically dismantling our market oriented economy.
You must first understand that all the rescue money is being diverted to moribund and brain-damaged organizations, more adept at lobbying then producing, so that we feed failure and starve initiative.
This is policy madness, diverting critical capital away from its most efficient allocation.
You have to remember:
- This is the same gang that unleashed Freddie Mac and Fannie Mae to gorge on sub-prime and liar loans as a matter of social policy.
- These are the people who regulated the securities market…who blithely removed the uptick rule that quickly facilitated massive bear raids and shorting that wiped out Bear Stearns and Lehman Brothers.
- These are the watchdogs who investigated Bernie Madoff a half dozen times and could not sniff out the massive fraud being perpetrated.
Last year, when all the bailouts were ramped up, my concern was that we would end up as a welfare democracy like France.
If only.
With the moral hazard that has been promoted so promiscuously, we will now be lucky to be Argentina.
Zimbabwe if we are unlucky….and we continue to mindlessly print fiat money.
Here are two bastions standing athwart this madness.
The Cato Institute is the premier libertarian think tank in Washington. If we hope to retain even a shred of market freedom, the flame will be kept alive here.
A more muscular and less theoretical approach is taken by The Club for Growth. This non-partisan organization supports and endorses candidates who espouse free market principles.
They take a bare-knuckled strong advocacy approach, focusing their money and talent on key districts where their concentrated effort is most likely to bear fruit.
Your donation to the Club for Growth is not tax deductible, and they only take contributions from individuals, not corporations.
Just as there are 501-c-3 charities deserving of your support, so also are there champions of liberty and freedom trying to roll back our descent into industrial policy and statism.
And what if we do nothing and naively place our trust in such untrustworthy players?
For starters, take a close look at the first $350 billion tranche the feds have sunk into the TARP rescue fund.
It sank like a stone in a well, and barely nudged the needle.
And now comes the torrent of good money after bad.
This is going to get very ugly until the public finds its voice and registers its disgust and outrage.
