Thursday, November 13, 2008

What Will Be Obamanomics

Newsweek's Cooley and Ohanian weigh in on Obamanomics.

Money Q:

"Barack Obama's stunning election victory was a compelling mandate for change, especially in regard to the way the economy has been run. People's lives and livelihoods have been deeply affected by the financial crisis, and Americans are justifiably worried and angry. To set the economy on the right path again, new checks and balances to regulate our financial system are already being discussed and explored. But even as we start to search for new solutions, we have already come to a perilous fork in the road.

"In one direction lies a backlash against capitalism. Some blame the crisis on excesses borne of laissez-faire policies that created wealth for a few at the expense of many. Given the current crisis, that sentiment may be understandable. But it is dangerous."

Read it all.

2 Comments:

Anonymous r said...

"In one direction lies a backlash against capitalism. … Given the current crisis, that sentiment may be understandable. But it is dangerous."

Indeed, dangerous and misguided. Some LibDem/ Socialists have dishonestly use our current economic mess as an indictment of Capitalism in hopes of steering people away from it once and for all (Never mind that misguided Liberalism coerced social policies polluted Capitalim causing this crisis in the first place).
Socialism always looks appealing during tough economic times. Pitching it to struggling folks is how many a despot has won power throughout history –and in our recent presidential election. Forget history and we’re bound to repeat it. But just as Liberalism is never the answer, neither is Socialism ever the answer.

November 13, 2008 at 11:41 AM 
Anonymous Anonymous said...

To R : You are right : socialism always looks good in rough times. People should do some reading about the plans now in the works for the North American Union. It would merge the US, Canada and Mexico and give us a common currency. If people in this country feel desperate enough even that will look good.

November 18, 2008 at 6:37 PM 

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