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“I have abandoned free-market principles to save the free-market system”

President Bush said the headline to CNN today.

He’s talking about the probable bailout of U.S. automakers, using money authorized earlier this year and given to Hank Paulson to hand out to whomever he wants.  Paulson said that all he is thinking about right now is the automakers.

Friedman Quote

I believe him.  I know no one there is thinking about the Constitution.  No one there is thinking of Adam Smith.  No one there is thinking of Milton Friedman.  No one there is thinking of the future generations of Americans who will be burdened by this.

Re-read that headline.  Try to wrap your brain around that.  I’m still trying to figure it out.  So is Jimmie from The Sundries Shack:

I seriously have no idea how that works. You do not burn a village to save it. You do not kill a patient to cure them. And you do not throw free-market principles into the dumpster to save the free-market.

How does this work?  Do we try a little socialism until we can get back to being capitalists?  A little bit of Marxism makes the medicine go down?

Another question is:  How do you plan on fixing a problem using the same thinking that created it? 

If you have not read “Atlas Shrugged,” there is no better time to do so than now.  Or, you can watch the nightly news for the television version. 

Sooner or later, companies are just going to close and heads of industry are going to start disappearing.  People will wonder where they went, shrug and say, “Who is John Galt?”

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Duane Lester is an ex-Navy journalist turned blogger and podcaster. He is the lead writer and editor for All American Blogger. You can also find him on StumbleUpon, Facebook, Twitter, LinkedIn, Blog Talk Radio and Newsvine. You can contact him by clicking the "E-mail this Author" button below.
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