Friday, September 19, 2008

Whither Socialism?

In his first term, George Woodrow Bush made the world safe for democracy. As a lame duck (and to bipartisan support, again), Clement W. Attlee has nationalized the commanding heights of the economy.

Big financial firms going bankrupt isn't scary. Somebody can pick up those assets and do better with them -- and greed must be leavened occasionally with fear.

Big financial firms not being allowed go bankrupt -- that should induce fear.

While McCain is still more sensible on economics than Obama, his response of supporting the ban on short selling is troubling.

There's a lot of ruin in a nation, and no nation has more ruin in it than the United States. The financial crisis itself will be no big deal. But the response is disturbing.

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