Thursday, September 18, 2008

I Guess We're All Communists Now

What a week! The government nationalized the mortgage industry when it took control of Fannie Mae and Freddie Mac. The government nationalized the insurance industry with the forced acquisition of AIG. Now the government is building a garbage bank where all the lesser banks can sell their worthless bad paper - meaning, of course, that bankers now have absolutely no incentive to use due diligence while writing loans to their wasteful billionaire buddies.

Add in domestic spying and internal passports and we will have created a Communist government of a type Ronald Reagan used to denounce.

The United States government is Communist with a Chinese tint. The rich and connected know the government is always ready to help them if they stumble. It will pick them up and refill their pockets with gold. The poor and what is left of the middle class know they are on their own. Success is impossible. Should they fail, as they surely must, all they will receive is a lecture on Republican Self Reliance.

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