Thoughts on the ongoing bailout

Forgive me for using bullet points, but I don’t have time to round this into a nicely written essay before work.

  • If government spending is really the answer to economic crisis, then the record deficits racked up by the Bush administration would have prevented this depression.
  • Further, if Keynes was right and every dollar of government spending created more than a dollar of GDP, then there should be no limit on government spending. Spend away, Mr. McManus! We’ll all be rich before the next election.
  • Expecting the government to do a better job of turning a profit with banks than it does with the U.S. Postal Service is silly and naive.
  • Any business that’s “too big to fail” is too big to live. Break it up into smaller pieces so it can go belly up without drowning the rest of us. (My point is that I don’t really believe any company is too big to fail.)
  • Asking the Chinese to keep buying Treasury bills to finance our trillion dollar deficit is asking a beggar for a handout. The Chinese economy is contracting, too; one commercial real estate expert estimates that there is a 14-year supply of empty office space in downtown Beijing.
  • I continue writing about this because the prophetic implications of economic and political consolidation are important. Global elites are rebuilding the kingdom of Nimrod; in other words, establishing a world government.

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