We continue to be berated into enacting the 'Bailout' (in whatever form) based upon fear that doing nothing spells doom. Well, for what it's worth, the Dow is up, the dollar has made its highest gains against the Euro since it was introduced, and the price of oil is dropping faster than an Iranian F-14.
Proof there is no crisis? Hardly.
But proof enough that the mad dash toward Socialism deserves a time out.
Here remain the issues with "The Plan" as hastily handed from On High:
- CONSTITUTIONALITY: Has anyone explained the constitutionality of "The Plan"?
- SHELF LIFE: What is the end state when this massive government undertaking into the financial sector expires? Is it not troublesome that the "Bush Tax Cuts" have a defined shelf life and the largest government program in our history does not? Is it really an emergency program, or rather an emergency impetus for the transition from the creep toward Socialism to the dead sprint toward Socialism?
- FIX CAUSE, NOT JUST SYMPTOMS: Why are the causes of the crisis still not addressed? "The Plan" seems in this respect stitching a gash while leaving the artery beneath to hemorrhage unchecked.
Until these real concerns are addressed in any such legislation - Constitutionality, Shelf Life, Addressing the Cause - Conservatives should hold fast and refuse and thus allow (require) the Socialist wing of the Democrat Party assume ownership of unchecked Socialism.
And if they are not addressed, they should be rejected. Because it was largely social engineering injected into Fannie Mae and Freddie Mac which caused this crisis. And more socialism is not the long term answer, come recession or depression.
Personally, I would rather see a precipitous drop in the market, nay depression, than a Socialist 'cure' enacted in panic. My children will still have a shot within a free-market in their lifetimes, even if I struggle for years in getting there. But implemented Socialism will never leave so long as those tasked with its dismantling would also require the votes of the recipients of socialism's crumbs.
So I say no. Not for me, nor for my mortgage, but for the adult lives and livelihoods of my children. I prefer my girls deal with the glass ceiling of perceived gender inequality rather than the very real and light-blocking iron ceiling that is the personal limits inherent within socialism. Iron won't crack.