“There is likely to be a lag between the need for action and government recognition of the need; a further lag between recognition of the need for action and the taking of action; and a still further lag between the action and its effects.”

- Milton Friedman, “Capitalism and Freedom” (1967)

Dare I say it, our government has irresponsibly let down its tax-paying citizenry in the worst way possible: by striking at not only our futures far down the line, but our parent’s futures TODAY.

That said, the damage is somewhat revocable. How? By demanding that the proposed $700 billion bailout be cancelled.

A recession, at this point, should be welcomed. The irresponsibility has gone too far. What would be the purpose of bailing out these lenders at the moment? To ensure that they can keep operating and handing out loans? … Continue Reading