The Abandonment of the Free Market


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On Tuesday, President Bush admitted to abandoning free market principles in order to save the U.S. economy from collapse.  This is in the face of previously unprecedented meddling by the federal government in the financial system.

I’ve abandoned free-market principles to save the free-market system to make sure the economy doesn’t collapse.

I feel a sense of obligation to my successor to make sure there is not a, you know, a huge economic crisis.  Look, we’re in a crisis now.  I mean, this is — we’re in a huge recession, but I don’t want to make it even worse.

This was also preceded by the President announcing that the government would use $15 billion of the recently passed “bailout” bill to help GM, Ford, and Chrysler get back on their feet to avoid further economic problems.

In my opinion, this is all just window dressing and these economic problems are only going to be magnified by the steps the President and Congress have taken in the last three months.  A President who was once seen as a friend to conservative ideals has seemingly and quickly abandoned those same ideals in favor of quasi-socialism.  That’s something the McCain campaign and other Republicans bludgeoned the Obama campaign with but it seems that they are now fairly silent in regards to Bush’s forays into the same territory.  Where is the outrage save for a few scattered voices in the wilderness of talk radio and others like mine here in the blogosphere?

Much of what has taken place has been so ordered because of fear.  Fear that we just have to do something or it could get worse.  Fear of the future.  Fear for fear’s sake, it seems.  This is part of the problem.  I think most Americans agree that something did and does need to be done but subverting the principles that made this country great in the first place is not the way to go.  Government was the problem to begin with and it certainly isn’t going to be the solution.

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