The Problem with Bailouts


	The Problem with Bailouts

phatmommy

1-28-2009 4:30 PM

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tags:

freedom, capitalism, bailout, government

phatmommy says:

"Capitalism isn't the criminal here. Government intervention is."

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f3eeba0b-683f-4f0c-aef1-e27d42788f52/B8BC6B8B-1464-4BBB-9D47-8FE5E83EBD9D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://yedies.blogspot.com/2009/01/peter-schiff-speaks-once-again-about.html" href="http://yedies.blogspot.com/2009/01/peter-schiff-speaks-once-again-about.html" style="font-size: 11px;">yedies.blogspot.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://yedies.blogspot.com/2009/01/peter-schiff-speaks-once-again-about.html"><BLOCKQUOTE>Schiff has said on numerous occasions that the current economic crisis is not the problem; it is the solution. According to him, the transition from borrowing and spending to saving and producing cannot be accomplished without a severe recession, given the current imbalances of the US economy. But according to him, that transition needs to happen. He also thinks the government is doing no one a favor by trying to "ease the pain" with stimulus packages, bailouts and such. Schiff believes these actions will only make the situation worse and possibly result in hyperinflation if the government continues to "replace legitimate savings with a printing press".</BLOCKQUOTE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://yedies.blogspot.com/2009/01/peter-schiff-speaks-once-again-about.html"><DIV>If Mr. Thain or any other bone headed CEO wishes to <A href="http://www.msnbc.msn.com/id/28793175/">squander corporate funds by buying expensive accouterments</A> for their offices, then they should be allowed to go out of business. Period. The folks they put out of work will find jobs and be absorbed into other companies who have more competent management. That is how the market works.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B8BC6B8B-1464-4BBB-9D47-8FE5E83EBD9D/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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