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Originally Posted by Adrian
I'd rather do this once, painfully, and get it out of the way than have a repeat of it again in another ten years. Instead, insolvent businesses will be bailed out, government will expand its control over the market, and the people and businesses who participated in bad business practices don't suffer for what they've done. If you spend more than you bring in and can't keep your head above water, stupid should hurt. If you give loans out to people who have no ability to pay it back, stupid should hurt. If you force a business to give people loans when those people can't pay it back, stupid should hurt.
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But the people and businesses that participated in the bad practices wouldn't be punished with or without the bailout.
Going through pain now will not stop the problem going away - it is just as likely to happen again in ten years with or without the bailout.
That's why the people responsible should be prosecuted, however the ordinary people / employees should be protected.
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If BHO nationalizes the health care or banking industry, then I will call him a socialist. If he institutes regulations such that government may as well own them, I will call him a socialist. Now I just call him a redistributionist and a handful of unprintable names.
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Bush is a redistributionist. So is McCain. Sarah Palin took money off the oil companies that drilled in Alaska and gave it back to the people who apparently owned the land (I think that is bordering on socialist).
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Like I said, compulsory schooling won't go away. Make them use that on private schools.
I have every faith the the market that gives us better and better cellphones, computers, TV, and a wide variety of foods would have no problem producing an array of quality schools for much cheaper than the federal government does currently. And like I said, public school isn't going away, but we need to find some way to use the private sector to improve the educational system.
Adrian
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Schooling isn't a commodity or product though. Privatised institutions (i.e. public transport in the UK tend to be sloppy) - but I do support private intervention in public services on the whole.