Monday, October 13, 2008

Socialists Run Amok

There were some interesting statements coming out of the "Boss of Bosses" meeting at the White House yesterday. It seems that the banking crisis is about to join forces with the climate change crisis. World Bank President Zoellick had this to say:

"Expanded help for energy-deficit countries to improve energy efficiency and improve domestic production to reduce their vulnerability to future price shocks.
Playing a stronger role in helping countries deal with the causes and effects of climate change, and the recent launch of the new Climate Investment Funds to which 10 countries recently contributed over $6 billion."

Let me guess, the US put up $5.9 billion and the other 9 countries chipped in the other $0.1. But, it gets worse. As we nationalize the banks worldwide, we're also going to nationalize energy production.

"The events of September and October have underscored that we need to modernize multilateralism and markets for a new global economy. Our publics expect no less.
The architects of Bretton Woods laid the foundations for the future, even as they still fought the armies of the past. We need concerted global action now not just to deal with this crisis, but to put in place new architecture, new norms, and new oversight...We must build a better system for the future."

Where do I sign up for the "armies of the past"? And, what did the Treasury Secretary for the Beacon of Freedom have to say about it?

"The next year will be a critical one for the Bank on issues of environment and climate change as we move toward a climate agreement in Copenhagen . The United States supports the Bank's increasing focus on climate change as it is clear that the issue must be addressed in the context of development financing."

Rather than have the crowd who's mismanagement caused this mess give us a "better system for the future", shouldn't we be finding new people to recreate the old system? You know, the system that used to work. The only system that has ever led to prosperity anywhere at any time. It seems to me, the last thing we need now is these clowns building us "new architecture, new norms, and new oversight".

7 comments:

Tom said...

It wasn't broke, so some politicians decided to fix it...

http://texex-xpress.blogspot.com/ said...

cf. Matt:17-20.

Local So-and-so said...

OK Pastor Tex, that was a nice little Easter egg hunt you sent me on with that one. I think I've got it down to 2 possible meanings.

1) The transfiguration with GWB playing the role of the messiah, going from a social conservative to a conservative socialist. That certainly seems to be the case.

Or,

2) The size of my faith is less than a mustard seed. For either politicians or the market, I plead guilty on both counts.

BTW, I doubled up on 2 stocks this morning, so I had a pretty good day. No faith required.

http://texex-xpress.blogspot.com/ said...

I was trying to answer your question: "shouldn't we be finding new people to recreate the old system?"

It's the 'old system' that has led us to where we are today, three times over: Hoover, Reagan, and 43. Ergo the reference to "..nor can a bad tree produce good fruit" which you sort of see in "building us 'new arhitecture'" etc. I guess I should have also included Verse 23.

I agree we need to return to the system that works which was the system the Founding Fathers laid for us; not the system or the parties we have today.

I truely hope your investments today turn out well but I'm not convinced we've seen the bottom yet based mostly that the details are still completely missing. Right now we are just in the 'shock and awe' period of marching in to the melee while the plans for an exit strategy are still in absentia.

http://texex-xpress.blogspot.com/ said...

FYI if it might help you in the morning: http://online.wsj.com/article/SB122390023840728367.html

U're welcome.

Local So-and-so said...

I can't believe the Cato Institute is buying this. So much for the "libertarian think tank" idea. I don't see how anyone can utter the words "global free trade" with a straight face again.

As for your presidential trifecta, I'll match you with Wilson, Roosevelt, and Johnson.

I propose a system based on Adam Smith and JQ Adams.

apackof2 said...

You ain't seen nothing yet if "the one" gets into the White House

Just a fore taste of the anti-Christ's rise to power after seeing how easy it was for "the one" to get those to abdicate their will and lives to be taken care of