Posted by
Brunson on Thursday, February 07, 2008 12:28:07 AM
It seems like the economy has picked the perfect time to slow, that is if you would like to find out who the idiots are. Those who actually think that the possible recession or ,at least, the economic slow down is an important issue in the upcoming presidential election have no idea how the economy of this nation works. The federal government has no business trying to ease or stop the recession. In fact, an economic slowdown is a part of a capitalistic economy and should be expected. If you do not believe me look at the economic history of this country. Not only is it expected, it is needed. The slowdown will give the economy a way to cleanse itself of unproductive businesses and practices, and there is already proof that this process is working. One main catalyst of the slow down is the mortgage debacle. To say shady practices have been used to make loans is an understatement. Now, most of the parties involved in the mess are paying for it. The lending companies are receiving devalued foreclosed property in lieu of interest paying mortgages, mortgage brokers are not writing enough policies to make a living, individuals who purchased homes more expensive than they can afford are losing their homes, and to a certain extent , all of us are paying for it through the economic slow down. All of this is part of the process to fix the mortgage crisis without government intervention.
However, if you look at the candidates and the current elected officials it should not be this way. First, they are trying to avoid the recession all together with an economic stimulus plan. Don’t get me wrong, I usually welcome a tax cut anytime I can get one, but the justification for this one is ridiculous. It’s a bunch of government officials who think they are more powerful than they are, simply overreacting. If you do not believe me think about it a little, the democrats agreeing to a tax cut this quickly has to sound fishy. Second, some of the candidates, mostly Hillary Clinton, wants to inject billions to help people from foreclosing on their property. When she said this on “meet the press” she was asked if she thought the people who entered these risky loans on their own accord should bear responsibility, and she replied, “ yes we all should.” Why in the world should I pay for it. Of course the answer in her heart is socialism. If that is what she wants then a free market economy would not exist.
The economy of this country is fine if left alone and that is why it is called free market or capitalism. It is the best economy in the world and will continue to be if the government stays out of its way. There will be bumps in the road but they are necessary just like a tree needs to be pruned, but unlike the tree, a free market economy will prune itself if our government will stay out of the way.