Here’s something I wrote up this morning about the American Economy.
I originally posted the article at Imagine 2050.
The American Economy and the Greedy People
The federal government has now bailed out three major US financial institutions: Freddie Mac, Fannie Mae, and American International Group. Some folks disagree with this decision. You hear people shout, “No More Big Government.”
The people who support the popular catch phrase, “Big Government,” believe that the free market can fix itself. Free market die-hards, like libertarians – Ron Paul’s Revolutionaries, believe that human beings are rational enough to fix the mortgage crisis and inflation (the rise of food and gas). Libertarians believe that a person’s financial interests will always supercede a person’s emotional desires, like greed.
But if that’s the case, why did white business owners before the 1950’s only accept business from white customers? Or better yet, how can libertarians categorize a person’s financial interest as rational thinking? Because to me, it seems when folks are more concerned with following their own pocket books, they can get a little greedy and act completely irrational.
Take a look at today’s economy. The American financial system is in shambles. Not one economist will predict an end, and the federal government is running out of strategies to bail out Wall Street. So now, taxpayers have to pay for their mistakes.
Now, I’m not against taxes. I’m glad I won’t have to pay for my kids to go to school K-12. But I am against die-hard free-market thinkers, and I blame them for today’s 6.1% unemployment rate and the mortgage crises…
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Filed under: economy, Politics | Tagged: American Economy, American International Group, Fannie Mae, financial crises, financial interests, Freddie Mac, Greed, human behavior, irrational, rational, Ron Paul, US financial institutions | Leave a Comment »