Oct 10 2008
The Death of Free Market Capitalism OCT.10 2008
I thought this would never happen in America. The nationalization of private industry. The government announced today that it is going to start buying stocks in financial institutions. WTF.. This problem is either bigger than we thought or its a backdoor way to gain control of the market. The plan is as it stands right now, is for the government to buy stocks in these financial instiution to hopefully entice investor back into the market. If the stocks go up, the government benefits from the profits and uses the proceeds to pay off the $700 billion dollar bailout. I’m skeptical that the government would use the money to do so though. I think they would use it to fatten the pockets of the rich and powerful in this country. I honestly believe that the government doesn’t care about paying off what they borrowed from the us. As long as which ever party is in power at the time gets their piece of the pie, they’ll just keep passing the buck to the next guy.
The government buying stock scares me because we are now going to have partial government ownership of private institutions. Are we turning into the United Socialist States of America? What happens if the government buys all the stock of any given company? They become nationalized.. Once you let government in they are not going to leave! I don’t think there is a precedent were the federal government gave up power it granted itself. This is not a good sign for free market capitalism in America. This could very well be the end of ”free market” as we know it.
- CNN Takes On the Free Market of American Politics With a New Fantasy Trading Game
- Free Market Philanthropy: The Social Aspect of Entrepreneurship
- “Learning the Free-Market Lessons about Bailouts” by Tom DeWeese - The Rational Argumentator
- Discovering the Hidden Job Market in Today’s Economy
- Secured Loan occupies lion share in the UK loan market
Going to turn into…as if it hasn’t happened
I have a hard time believeing that the bailout money is seen as “ours” at all. If this had happened at anytime other than during an election I doubt that anyone would be crying so loudly for the American tax payer. Lets face it. Our government officials sit in the Disneyland called Washington D.C. and treat money like its the kind out of my Monopoly box.
Good post. This could be the beginning of the end. I’ve been quite disturbed over this announcement. The DOW almost finished up today, and now with this announcement I wonder if this will destroy any confidence that was building. Even if it may come to needing this plan in the end, why can’t they have any discussions behind closed doors, and let the investors confidence in the system continue to build? I’ll continue on this point later, I need to get some sleep.