THE LIBERTARIAN ENTERPRISE
Number 499, December 28, 2008
"New Tribunals held in Nuremberg, Pennsylvania"
Attribute to The Libertarian Enterprise
If you have been watching or listening to the news any over the past 48 hours you have more than likely heard that CEO's from some of the enterprises that benefited from the "Bailout" cannot really account for where over 100 billion dollars has gone, or what it was used for.
If you will take the time to study history, and I mean truly look into things not just read a few passages here and there, you will find the road we are traveling ain't gonna turn out pretty.
Those that look into American history and economics know that what FDR did during the depression very arguably deepened and prolonged the depression itself. Tripling taxes, raising tariffs, etc... None of it worked.
Today we are hearing about how the free market was given its chance, now it is time to do something different. I say hogwash! Free market capitalism does have its ups and downs, there will be recessions and recoveries. The way the system works is very simple you offer something I want, I pay what I think it is worth. If we notice when gas hit $4.00 a gallon American's pretty much quit buying. Gas prices plummeted and are probably now close to fair market price.
Look at it another way every time you go to the store you participate in laissez faire, free market, capitalism. Do I buy the DelMonte can of xxxx at $1.25, or the store brand at $0.59. The choice is yours. When DelMonte starts losing money and they notice that store brand is taking their share of the market they do 1 of 2 things. Make a better product or lower price.
On to the Big Three. Let em sink. I guarantee that those lost jobs won't be lost for long. Do you think that Toyota, Nissan, BMW, Kia, Hyundai, Subaru, etc... won't snap up those already trained workers, the empty factories, and manufacturing machines. Quick fact GM and Toyota both sold 93.7 million cars worldwide last year. GM lost roughly over $30 Billion whereas Toyota had a profit of $17 Billion.
Government has no business messing with private sector businesses. The sting from the bailout will end up festering and becoming infected multiple times over for the American economy and the American taxpayer.