Friday, September 28, 2012

- What Happened To Virtue

A better than average guest post from ZeroHedge:

In the midst of the Great Depression, Treasury Secretary Andrew Mellon famously advised President Hoover to “liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate” instead of propping each industry up with tax dollars. This liquidation doctrine would “purge the rottenness out of the system” and make certain that “people will work harder” and “live a more moral life.” Contrary to popular belief, Hoover did not take Mellon’s advice and went forth with his own version of the New Deal that gave relief to farmers and supported wage rates in certain industries. These efforts, which were exacerbated under the presidency of Franklin Roosevelt, effectively prevented the market from clearing. The boom of the late 1920s that was driven by the Federal Reserve’s monetary inflation was not allowed to bust. Instead of liquidating the debt and allowing the economy to reach a sound footing, both the Hoover and Roosevelt administrations attempted to manage it back to health. The result was the longest period of unemployment ever recorded in American history.

This is actually what I think of when Obama talks about a "new economic patriotism." He believes it's patriotic for people like me to stop complaining as he takes what he likes from us. He takes his gun, puts it to our heads, demands our labor and our wealth, and then expects us to thank him for doing what he likes to us with or without our consent. He thinks consensus defines virtue. So if your riot involves enough people, it must be in the right.

That's not any vision of America that I could ever be proud of.

1 comment:

chess said...

Flailing. He cant argue his record so once "now you see me now you dont"
Next he will be riding a horse
from village to village yelling "the conservatives are coming the conservatives are coming".

His platform booed God and Israel and he wants me to be patriotic? you pos