All over the mainstream media we are seeing authors ask if this crisis is the end of American capitalism. They have active imaginations. The would be better to ask if this is the end of a American socialism since that is more descriptive of our system and what got us into this crisis.
The simple fact is the unregulated market is doing EXACTLY what it should in reaction to stimulus. When politicians diddle a market by having easy money policies then the market responds by revalueing the currency downward. When politicians prevent the number one economy in the world from deep sea drilling for oil on its coasts the market responds to this by making this essential commodity a modern day currency with more significance than the mere scrit paper money we trade for it.
Listen to me now Mr. Politician. Let the stock market do what it is going to do. Let the credit market do what it is going to do. Our markets are rationalizing themselves in front of our eyes. After a binge on amphetamines our economy needs a few days of rest. The solution is not another snort of economic meth.
Its better you ask if this is the end of our dear socialist leaders being able to will the tides out. And it is. Our economy will only get seriously better when we’re burning alot of coal. Die environmentalist die!
Thus I say to you when you see the likes of the Washington Post proclaiming the end of American capitalism realize that they are only speaking wishfully. Distrust in government is going to make it harder for the socialists not easier.