FromTheSouth
You don't want it with me.
Allowing the free market to correct itself is the most critical function of capitalism. Wall Street and Pennsylvania Avenue do not understand each other at all.
An capitalist society needs to value the free market above all else. Government intervention should be limited to the regulation of interstate and international trade, and should not touch individual companies at all. The FDIC applies to all banks, so it is good. Loans to AIG, but not to Lehman Brothers undermine the principles that American spent fighting for in the entire 20th century. The only way to keep the market free is to allow to businesses to fail.
First of all, if everyone has a job, the economy can't grow. If Walgreen's fails, CVS gets more business. CVS would need to grow. If it grows, it needs to hire people. Therefore, people within certain industries will always have jobs. Wells Fargo is succeeding in the wake of all the bank collapses. Why try to save companies that are not economically solvent. Allowing them to fail helps Wells Fargo. Wells Fargo can expand and hire those out of work mortgage brokers. Wells Fargo would be rewarded for not screwing individuals out of their livelihoods. Instead, the government is punishing tax payers and future generations with a huge financial burden.
Secondly, allowing businesses to fail forces society and individuals to invent better practices and technologies. Bailing out these businesses forces the same execs to adopt government approved strategies to continue operating. A bunch of lawyers telling MBA's how to run business is a recipe for disaster. Innovation has always come from outside of government. Milton Friedman did not work for Presidents until he was done revolutionizing economics. If he would have worked for the government first, he would have been indoctrinated into the "old" way, and the economy would be a shambles of taxation or spending.
Finally, the call for bailouts is coming from towns entrenched in the old way. Michigan's representatives in congress blocked safety regulations for automakers. They have blocked calls for more fuel efficient vehicles. They have done so because it would be done at a financial cost to the automakers. Their argument has been. "Detroit will die." Well guess what, it is going to die soon, and it is not because of safety or emissions standards, it is because of the unions. The unions used to serve a purpose. The only purpose they serve now is making everything from baseball tickets to cars to education more expensive. Let Detroit die. If Detroit doesn't want to die, it will find a way to survive. All of those assembly line workers who make more than teachers to screw in a couple of rivets can start a new manufacturing revolution in America. Without the unions, outsourced jobs can be brought home, improving the economy AS A WHOLE, whereas bailout only benefit CERTAIN SECTORS. So sorry that Toyota and Nissan make better cars cheaper. Fix it or find new work. It is not the government's job to wipe the dirt off your knees and send you back to the sandbox only to get hurt again.
In closing, the American bailouts are placing a ridiculous burder on future generation and impeding economic and scientific progress. Eding the bailouts will cause short term hardships, while improving the future considerably. New methods can streamline production and reduce costs, while ending unions will lower prices and bring jobs back home that have been sent abroad. All bailouts do is entrench failing companies into failing business models and harm America for years to come.
An capitalist society needs to value the free market above all else. Government intervention should be limited to the regulation of interstate and international trade, and should not touch individual companies at all. The FDIC applies to all banks, so it is good. Loans to AIG, but not to Lehman Brothers undermine the principles that American spent fighting for in the entire 20th century. The only way to keep the market free is to allow to businesses to fail.
First of all, if everyone has a job, the economy can't grow. If Walgreen's fails, CVS gets more business. CVS would need to grow. If it grows, it needs to hire people. Therefore, people within certain industries will always have jobs. Wells Fargo is succeeding in the wake of all the bank collapses. Why try to save companies that are not economically solvent. Allowing them to fail helps Wells Fargo. Wells Fargo can expand and hire those out of work mortgage brokers. Wells Fargo would be rewarded for not screwing individuals out of their livelihoods. Instead, the government is punishing tax payers and future generations with a huge financial burden.
Secondly, allowing businesses to fail forces society and individuals to invent better practices and technologies. Bailing out these businesses forces the same execs to adopt government approved strategies to continue operating. A bunch of lawyers telling MBA's how to run business is a recipe for disaster. Innovation has always come from outside of government. Milton Friedman did not work for Presidents until he was done revolutionizing economics. If he would have worked for the government first, he would have been indoctrinated into the "old" way, and the economy would be a shambles of taxation or spending.
Finally, the call for bailouts is coming from towns entrenched in the old way. Michigan's representatives in congress blocked safety regulations for automakers. They have blocked calls for more fuel efficient vehicles. They have done so because it would be done at a financial cost to the automakers. Their argument has been. "Detroit will die." Well guess what, it is going to die soon, and it is not because of safety or emissions standards, it is because of the unions. The unions used to serve a purpose. The only purpose they serve now is making everything from baseball tickets to cars to education more expensive. Let Detroit die. If Detroit doesn't want to die, it will find a way to survive. All of those assembly line workers who make more than teachers to screw in a couple of rivets can start a new manufacturing revolution in America. Without the unions, outsourced jobs can be brought home, improving the economy AS A WHOLE, whereas bailout only benefit CERTAIN SECTORS. So sorry that Toyota and Nissan make better cars cheaper. Fix it or find new work. It is not the government's job to wipe the dirt off your knees and send you back to the sandbox only to get hurt again.
In closing, the American bailouts are placing a ridiculous burder on future generation and impeding economic and scientific progress. Eding the bailouts will cause short term hardships, while improving the future considerably. New methods can streamline production and reduce costs, while ending unions will lower prices and bring jobs back home that have been sent abroad. All bailouts do is entrench failing companies into failing business models and harm America for years to come.