capitalism is the cure don't you dare blame it ya moron

http://www.newstimes.com/news/article/Failure-of-capitalism-or-government-policy-259305.php

Failure of capitalism or government policy?
Published: 04:54 p.m., Friday, November 20, 2009
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Many people are finding it fashionable to blame our current economic problems on the failure of capitalism -- as if capitalism was something that they're bored with and they've decided it's time to try "something new" like socialism (which isn't really "new).

However, there is strong evidence that anti free-market government policies -- rather than capitalism -- are the main cause of where we are today.

First of all, most people understand the primary cause of our banking crisis is banks making too many "risky loans." And from here we have been led to believe that our federal government -- the "good guy" in this scenario -- doesn't want this -- and the discussion always stops here. However, when you delve into the details you find that our federal government -- under the Community Reinvestment Act of 1977 -- has been legally requiring our banks to make "risky loans" and encouraging the lowering of their lending standards for many years.

Therefore, rather than the hero that can fix our free-market problem, our government has actually created much of the problem by perverting our banking system and forcing banks to make bad business decisions. If you think about it, why would banks make so many "risky loans" unless they believed that the federal government was going to take care of it if it ever became a problem for them. So from the banks' perspective what we have defined as "risky" wasn't really "risky" for them after all.

Finally, socialism -- where we're headed -- doesn't appear to be a fertile environment for things like "free speech" and "freedom of religion." So I strongly suggest we think a bit more about where we're going and just how weird it's going to be when we get there.

Tony Caraluzzi

BETHEL