Tuesday, November 25, 2008
The End of Liberty?
With all this talk about the federal government bailing out car manufacturers, and financial institutions, there comes a valid question we must ask: “Has capitalism failed? Is this the end of our liberties and our free market system?” First of all we must realize -and make it known- that the reason our financial institutions got into trouble is not because of the free market, but rather because of government intervention. When the federal government mandated that banks make loans to people who weren’t financially sound we injected a manipulation into the market that caused it to operate according to a model doomed to eventual failure. Then everyone just kept passing the buck until it stopped at the American taxpayer. Now if the federal government bails out the auto industry they will again inject a false set of numbers that will eventually have to be paid by the taxpayer. The federal government will become an enabler to shoddy business practices. We’ll be like the rest of the world. Our free enterprise system is the best in the world, but it can only remain so as we adhere to sound principles based on a solid Judeo-Christian ethic.