We don't need another hero


Real heros do, not promise
Well, color me surprised.

I didn't expect the investment firms to take a stand against Obama with the automaker bankruptcies.

My hat is off to them.

Not because of their service to America. Not because of their avowed belief in America.

But because they are greedy. Those firms want a return on their investment for themselves and their clients.

Up until Obama, the rule of law prevailed. After bankruptcy proceedings, those companies would have had a controlling stake because they had put up most of the cash.

And then Obama changed the rules and tried to give the UAW a majority stake.

It's mercantilism. One commercial entity given special favors by the government in exchange for political favors.

The rules got changed for political reasons.

Chrysler and GM will still go through bankruptcy. But now, the government and the unions have a much larger piece of the pie.

Think about that. The FedGovs strong-armed the banks and spent hundreds of billions of your dollars to do political favors.

Without asking you.

The people who tried to defend the rule of law were those greedy commercial investment firms. Who, incidentally, channel a much bigger piece of the national economy than the banks.

It shouldn't surprise us. As P.J. O'Rourke reminds us in his excellent examination On The Wealth of Nations: Books That Changed the World, it was the merchant class that gave us the rule of law to begin with despite the wishes of the political elite.

All the merchants wanted to do was to be left alone.

KYFHO, now and forever. The roots of liberty and woven closely with greed and self-interest.

Which means that as long as government doesn't hand out special powers and privilages, liberty is best preserved by people looking out for their own best interests and trading without coercion.

Not because it's the "right" thing to do.

Not because it is socially acceptable.

Not because some crusading politico type told us so.

But because the free market works.

Those four words are vitally important.

The free market works.

No government regulation can protect you from nasties big and small. No government printing press can give you more wealth. The government can't give you anything without taking it from someone else. But the free market means that your life today is better than it was yesterday. Which means that tomorrow will probably be better still. As long as no one tries to control it. Mutual trade without force. That's all there is to it.

The entire American system of government was founded so you could keep your property.

It was not an elected politician who made a stand for the rule of law.

It was not some "leader" promising to be a hero.

It was the free market and those people who live by trade.

KYFHO, friends and neighbors, KYFHO.

— NeoWayland

Posted: Mon - May 4, 2009 at 01:29 PM  Tag


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