"What must be done to recover from this financial crisis? Barack Obama rightly stresses that we first must understand how today’s problems emerged. 'It is only by understanding how we arrived at this moment that we’ll be able to lift ourselves out of this predicament.'
"Unfortunately, Obama (along with most of the Washington establishment) has created only misunderstanding. In calling for a massive increase in government control over the economy, he has evaded the mountain of evidence implicating the government [as culprit].
"For example, Obama’s core explanation of all the destructive behavior leading up to today’s crisis is that the market was too free. But the market that led to today’s crisis was systematically manipulated by government. Fact: this decade saw drastic attempts by the government to control the housing and financial markets--via a Federal Reserve that cut interest rates to all-time lows, and via a gigantic increase in Fannie Mae and Freddie Mac’s size and influence. Fact: through these entities, the government sought to 'stimulate the economy' and promote home ownership (sound familiar?) by artificially extending cheap credit to home-buyers. Fact: most of the (very few) economists who actually predicted the financial crisis blame Fed policy or housing policy for inflating a bubble that was bound to collapse.
"How does all this evidence factor into Obama’s understanding of 'how we arrived at this moment?' It doesn’t. Not once, during the solemn 52 minutes and 5,902 words of his speech to Congress did he mention the Fed, Fannie, or Freddie. Not once did he suggest that government manipulation of markets could have any possible role in the present crisis. He just went full steam ahead and called for more spending, more intervention, and more government housing programs as the solution." -Alex Epstein (Ayn Rand Center for Individual Rights)
What is the answer? Where must Obama really look? Jesus Christ would save Obama from frantic mismanagement, but will Obama listen:
"The way to correct all such delusions is to withdraw your faith from them, and invest it ONLY in what is true. To whatever extent you side with false perception in yourself or others, you are validating a basic misperception. You CANNOT validate the invalid. I would suggest that you voluntarily give up all attempts to do so, because they can be only frantic. If you are willing to validate what is true in everything you perceive, you will make it true for you." -Jesus Christ in A Course in Miracles
ayn rand
jesus christ
a course in miracles
mormon patriotism
alex jones
obama fascism
democratic party
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