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Welcome to 1932
Exploiting the economic crisis for political advantage.
Money Q:
People always underestimate how bad things can get. So advised a guy who made millions as a short seller in the 1980s. His insight certainly is borne out in the continuing market selloff -- and one reason is the incentive for political actions that actually make things worse.
Raymond Moley, a New Dealer who ended up dissenting from the Roosevelt administration, voiced a well-founded fear that FDR and his brain trust were more interested in exploiting the crisis to expand their political majorities and centralize power than in getting the economy growing again.
Money Q:
People always underestimate how bad things can get. So advised a guy who made millions as a short seller in the 1980s. His insight certainly is borne out in the continuing market selloff -- and one reason is the incentive for political actions that actually make things worse.
Raymond Moley, a New Dealer who ended up dissenting from the Roosevelt administration, voiced a well-founded fear that FDR and his brain trust were more interested in exploiting the crisis to expand their political majorities and centralize power than in getting the economy growing again.
posted by Spencerblog at
10:49 AM
6 Comments:
it's a shame we can't have a guy like mccain that pretends to suspend his campaign as a gimmick, makes rosy comments about the "fundamentals" of the economy, panders to redefine "fundamentals" as the "ingenuity of american workers", and opposes a bailout that he voted for.
gee, i can't imagine why voters aren't responding to this non-political straight-talk.
political actions that actually make things worse.
…more interested in exploiting the crisis to expand their political majorities and centralize power than in getting the economy growing again.
This is exactly what the LibDems have been doing. Just as they played games with the war all along the way so too are they putting their political advantage above the good of the country in this financial crisis.
"This is exactly what the LibDems have been doing"
on which planet were they doing that?
here on earth, the republicans have run the government as a political operation to enrich their friends, rather than based on sound policy.
Well, LibDems caused the crisis in the first place… Then they jump at the chance to blindly vote to nationalize the financial industry… Then they try to load the bailout with more handouts and things like more funding for the crooked black-voter-registering-group ACORN… Another, and ill-advised, stimulus handout is promised to score more lowlife votes… All the while lurking in the background is a Socialist Obama presidency that is sure to make things worse.
the "LibDems" caused the crisis? again, in what universe did this occur?
the dems were out of power since 1994, and since the dems got congress in jan 2007, bush and the senate republicans have blocked anything the gop didn't want.
and mccain voted for the bailout.
"crooked black voter registering group"???
don't you think blacks should be allowed to register and vote? are you from the deep south of the 1950's?
Sure, Liar Dave. Libs pressuring lenders to make loans to risky borrowers that ran opposed to their better business sense started the subprime problem which led to this bigger mess. Once again we have Liberalism and its misguided social engineering to thank.
You have it exactly wrong (like that’s a surprise). Bush, McCain and the Repubs sounded the alarm and tried to get oversight but the LibDems –again, keeping in mind their above social engineering- blocked all the efforts to head off this problem.
McCain and Repubs reluctantly voted for the bailout while Libs loved voting for the nationalizationing of the financial sector. Socialist Libs love such government intervention and control. But we’ve already been over all this, DDD.
Yes, ACORN targets blacks as Dem voters. Period. It’s no wonder a growing number of Americans have a problem with their tax dollars being misused in this partisan manner now that they have become aware of it. I don’t think anyone is surprised that a blind partisan apologist such as yourself would se nothing wrong with this. Once again you are out of touch… Libism will do that to a guy.
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