In Search Of A Sound Economic Policy
Dominating the news cycle at the moment are stories of how the socialists on both sides of the Atlantic are continuing their assault on the wealth-makers of our economies. This is Comrade Obama’s latest assault on the economy:
President Obama called on Congress Thursday to expand the government’s ability to limit the size and complexity of major financial institutions… He cast his proposals as a way to prevent banks from becoming too bloated and taking on risks that ultimately threaten the economy.
Obama probably means risks like his own policy of forcing US banks to make loans based on ethnicity to people almost certain not to pay them back. Obama and Brown are both putting guns to bankers heads’, forcing them to make bad loans to their core supporters, and then shooting the banks for making those bad loans.
The esteemed financial expert Barack Obama, who learned all he knows about economics by hanging out with Marxist professors, has decided
to restrict proprietary trading by commercial banks. Such a limit would separate commercial banks from investment banks, a line that was blurred a decade ago by the repeal of the Depression era Glass-Steagall Act.
Horrifyingly but in a despressing sign of the political times, Republicans may cooperate with this socialist’s war on the “fat cats” who make an economy function.
[Treasury Secretary Timothy] Geithner met with Republican Senate leader Mitch McConnell of Kentucky on Tuesday. Administration officials now believe that while Republicans may seek to block other aspects of the president’s agenda, McConnell is considering making financial regulation an exception.
And exactly the same is happening this side of the Atlantic too. The socialists are being allowed to make the running and dictate the political narrative. Lord Forsyth has just hit the headlines calling for spending cuts of £75 billion a year and being roundly castigated in the media for his troubles by Labour…who conveniently gloss over Lord Fondlebum’s call for £80 billion cuts and the fact that neither do much more than scratch the surface of the budget deficit of £178 billion.
Why are supposed right-wing parties on both sides of the Pond abrogating their responsibilities for fiscal responsibility? Can anyone please find us a Party offering a sound economic policy?
Very well observed.
The Tea Party folks are what we need – the GOP over there and the Cons over here seem to want to grow the State and so they will mimic the socialist/commun ist onslaughts against our wealth creators by Bama and Brown.
The US psyche seems more successful in creating and sustaining mass movements like the Tea Party than here in the UK, which is a same because it is democracy in action. People realising that the political class is not responsive.
Perhaps we’ll see something similar if Cameron can’t take the necessary decisions.