12/25/2011

Obama's view on Free market economies

One has to read Obama's full speech to realize how really bad it is, but here is a taste of it.

“The market will take care of everything,” they tell us. If we just cut more regulations and cut more taxes -- especially for the wealthy -- our economy will grow stronger. Sure, they say, there will be winners and losers. But if the winners do really well, then jobs and prosperity will eventually trickle down to everybody else. And, they argue, even if prosperity doesn’t trickle down, well, that’s the price of liberty.

Now, it’s a simple theory. And we have to admit, it’s one that speaks to our rugged individualism and our healthy skepticism of too much government. That’s in America’s DNA. And that theory fits well on a bumper sticker. (Laughter.) But here’s the problem: It doesn’t work. It has never worked. (Applause.) It didn’t work when it was tried in the decade before the Great Depression. It’s not what led to the incredible postwar booms of the ‘50s and ‘60s. And it didn’t work when we tried it during the last decade. (Applause.) I mean, understand, it’s not as if we haven’t tried this theory. . . .

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1 Comments:

OpenID ken-maurer said...

Typical drivel. I've always paid close attention to both politics and economics, and I remember the 50s & 60s as well as the last decade pretty well. (I have to admit, I did miss the 20s, but I can read.) It's strange that I missed the untrammeled free markets and lack of government regulations and attempts at manipulating the economy during any of those times. I guess to a real statist like Obama, the fact that there's any corner of human economic activity that isn't directly controlled by government seems indistinguishable from rampant laissez-faire capitalism.

12/25/2011 8:18 PM  

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