THE LIBERTARIAN ENTERPRISE
Number 487, October 5, 2008
"What makes genocide and other kinds of
government-sanctioned violence possible?"
Attribute to The Libertarian Enterprise
I've stated in at least one previous article that tyranny leads to arrogance and stupidity. As tyrants exercise and become used to power they reach a point where their will to power can only be satisfied by abusing power. Consider Speaker Pelosi's recent performance.
First off let me state that as a classic free market economist I don't think the bail out bring considered when this is written (2nd of October 2008) is a good idea. The banking industry, credit industry and stock market should have been allowed to crash and then left to restart from zero. I'll even go so far as to say that a bail out only delays and does not prevent this outcome and may in fact exacerbate the final crash.
That said, America's political leaders decided that it was in the nation's (whether this means Wall Street, Main Street, or both I have no idea and probably neither do they) to bail out the banks to the tune of seven hundred billion dollars plus some rather large change. Several members of the Republican party in Congress subscribe to the take our lumps and start again theory. They were convinced to vote against their beliefs and support the bail out.
Ms. Pelosi chose to use presenting the bail out to tear into the policies of free market Republicans in a manner that provoked them into voting their convictions instead of according to party discipline. Whether she did so out of stupidity or arrogance I am not sure. It is obvious that she thought her political power excused her from the need to be polite to people she was asking for a favor.
Barrack Obama keeps saying it's time for a change. I agree. When power drunk fools can not refrain from abusing that power even at the expense of doing what they think is right for their country (I am not saying I think the bail out is right, but Miss Nancy claims she does) they have become tyrants and need to be removed from office.
Ms. Pelosi will probably be reelected to Congress. The Democrats will most likely retain control of the House of Representatives. It would behoove those of us in districts represented by a Democrat to write our Congresscritter and tell them that their party needs to overthrow Nancy Pelosi as Speaker and replace her with someone who puts the well being of the nation and the freedom of the people (which an economic panic endangers) over the pleasure of running off at the mouth and proving one is queen witch or something that sounds like it.