Maybe it's because of the Ron Paul book I'm reading, but any concept that this country is 100% based upon "capitalism" is pure fiction. This ever so brief rant is based upon news tonight that the Federal Reserve* will bail out insurance giant AIG (with an $85 billion loan) and take an 80% stake in the company. (I have no idea what went wrong with the company, but I suspect that AIG had a ton of cash laying around over the last two years and decided to invest in bundles of mortgages that didn't turn out to be worth squat. We've seen this movie before.) Here's our world as we know it: You can work your arse off and get taxed at an astronomical rate. Those taxes are simply used to redistribute the wealth primarily, not through welfare or "liberal programs", but through government jobs and purchases that probably don't need to exist at all. (And this includes the billions spent on the stupid Iraq war, and needless federal intervention like the Department of Education or the Federal Communications Commission.) And, at a frightening rate, bailouts. If GM goes under, your tax dollars will be there. If TimeWarner goes under, you could expect the same. It goes on and on and on. And, on a related note, I just looked up at the TV and saw President Bush during his PR trip to Galveston today. "I know some are concerned about whether or not the government will reimburse you for your stay [away from your home]," he said. "And the answer is 'yes'. We have a plan for the next thirty days." Then Fox 4's Heather Hays tells me, "The President also announced the fed [sic] will pick up the bill for all debris removal for a two week period starting on Saturday." Where's my checkbook? I need to help the federal government help those people that decided to build next to an ocean. And, I might add, this is under a Republican Administration. There's not a dimes worth of difference between the two parties. I would call for a revolution, but I fear secret government wiretaps. _______ *And don't give me this crap that the Federal Reserve isn't, in the end, the equivalent of the U.S. Government. Same goes for Freddie Mac and Fannie Mae.
at 9:36 PM