Posted
2/02/2009 05:20:00 PM
by Douglas
Call him a sore-headed old crank if you want, but tell me where The Honorable Dr. Ron Paul is
wrong here.
First of all, just as the best cure for a hangover is not to drink so much, the best cure for a recession is a recession. It is time to sober up and return to free market sanity, risk and reward, supply and demand, without political intervention. Politicians are good at catering to the needs of special interests, but very bad at determining what needs to take place in the market. Government should stick to punishing fraud and enforcing contracts. When they use the tax code, bureaucratic departments and their manipulative rules and regulations to dictate social and economic behavior, we end up with distortions and malinvestments. Bailing out banks, continuing failed Fed policies and strapping the taxpayer with toxic debt will worsen the pain, and punish the innocent.
It's going to hurt, regardless, but the problems with the economy aren't going to be solved by the same people that created them.