This Month's Topic: Is the current crisis proof conservative economics is wrong?
A banking crisis of massive proportions — at last look requiring perhaps a $1.5T bailout — has been the focus of government action for some time now, with the gurus of Wall Street strangely silent, and the perps who engineered the crisis — those big-brained big-time investment house geniuses — sneaking out the back door. The government is buying stakes in banks, and will even be setting up and running investment institutions. The private sector caused it, didn't see it coming, and has no answer for it. Is this proof-positive that conservative economics is a thing of the past?
Alternative Response:
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Let's say this up front: in self-sufficient, self-reliant, free America, we should not be in the business of bailing out failures. If they fail, someone comes in and picks up the slack with innovation and hard work. Then, hard-working people will take up the newly-created jobs and the economy will move forward. In the meantime, churches and civic organizations will help people, and they'll do a better job than bureaucracies.
The government should not be our bankers; they should not own businesses [in competition with other businesses], they should not prop up failing businesses, large or small.
Government should enforce clear, minimal laws, protect us, enforce contracts made freely, and nothing more.
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— Editor
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