Monday, October 13, 2008

News of the "Death of American Capitalism" grossly exaggerated

As there is further evidence of the bills on the unsustainable becoming due, let me remind you, humbly, of this:

Eight billion in farm subsidies. (Federal budget, 2006)
One trillion in oil company subsidies. (est.)
One trillion in nuclear energy subsidies. (est.)

Now, please explain to me where the capitalism part comes from.

For all of the blaming of the "free market's" role in the economic correction (say "meltdown" like you're out of breath or something), let me remind you that there isn't one, at least in America.

Much of the subsidies are returned to Washington in the form of fees paid to lobbying firms, probably a quarter in all.

Things to be said to consumers:

Nobody made you sign the leases, loans, and mortgages at variable interest rates.

Nobody told you that signing the leases, loans and mortgages absolved you of following a sound financial course.

So why did you?

Why make the rest of us pay?

Labels: , , , , ,


Post a Comment

<< Home