fotd: the opposite of “bubble and bust”

President Obama tonight said that we need to prevent “the cycle of bubble and bust”.

The opposite of bubble-and-bust is a planned economy.  Sounds like a great idea, doesn’t it?  Sure, we’ll just plan the economy and we won’t have to worry about business cycles or economic downturns anymore.

Wikipedia’s list of current, glorious ‘planned economies’: Cuba, Libya, Saudi Arabia, Iran, North Korea, and Burma.

Yeah.  Let’s not sign up to get on that list.

[ugh, he just said “dependence on foreign oil”.  will it be so much greater when we’re dependent on foreign wind-power technology?  apparently Europeans have all the technology…]

Everybody likes to think that if we just add a little regulation here and a little nationalization there, we can prevent bubble-and-bust without completely dismantling Capitalism.

What we’ll end up with is the same thing we got after the Great Depression — huge government programs, the worst of which are Ponzi-schemes, which will burden the country for generations.  Good times.

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3 Comments

Filed under fear of the day

3 responses to “fotd: the opposite of “bubble and bust”

  1. Dad

    I watched to see if the Q & A session would be any better than the first press conference – not much – still very stilted in “candid” responses that continue to sound like stumping on the trail as opposed to strategic legislation. If I hear one more time that “we inherited” this or that or that it was passed “before we took over” I think I’ll be sick (er).

    Who is surprised that since we abandoned much of our manufacturing base in favor of service industries, that we have a weakened economic engine from which to try to restart effective GDP growth.

    It sounds like he is inviting someone to produce an alternative budget for him – not that it would have any chance of affecting the Democratic bill being prepared. How does the President justify his budget proposals after leaving significant earmarks in the “stimulus” package – oh, that’s right, we’re just going to get that back by reducing the tax advantages of giving to charities. Something is dramatically wrong here!

  2. yeah, I skipped the first press conference. I wish I skipped this one.

    I was glad that many of the questioners were persistent and took him to task.

    overall, to quote Billy Madison:
    “Mr. Presidet, what you’ve just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul. ”

  3. sorry, I resorted to the Billy Madison quote when I couldn’t remember what it was about Obama that got me so upset —

    it was Health Care — somehow he turned a question about reducing the deficit into a reason to reduce private-sector healthcare costs. does he realize that private-sector healthcare doesn’t have any impact on government expenditures, budgets, or deficits? that was the most egregious example of “uh, look at this shiny problem over here” when he wanted to make a point.

    and God have mercy on his soul.

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