Watching and researching this economic collapse, investor bailouts, TARP programs and the like is resulting in my having to question my core beliefs in free markets and capitalism. I used to love FOXNEWS and now find it so revoltinly biased I can no longer watch it. it is been completely cumbed down by Sean Hannity to comic book level who feels the need to say the same thing over and over agian.
Recently we heard about companies “too big too fail”. Then I watch crazy amounts of monies paid out to a small number of people to protect them from their bad decisions. It makes believe that perhaps we should say such a concentration of wealth should trigger “TOO BIG SHOULD FAIL”.
We hear a relentless drum beat about the evils of socialism, and how we are becoming like Europe with all it’s social programs.
Candidly, it seems to me we are already no different than europe in our welfare programs. It is just that the recipients are different.
In Europe they have surprisingly generous (by American Standards) programs of vacation, unemployment, retirement, holidays. Basically directed at the population.
In America we have similar programs whereby we give away federal land oil and mineral rights for virtually nothing to big corporations, we bail out huge investors who make bad decisions, we reward managements in spite of their failures, and justify continuing to do so by calling them “talent”.
So which is better, government programs focused on the voters or on the corporations?