Monday, March 23, 2009

"People voting themselves largesse from the public treasury"

"A democracy cannot exist as a permanent form of governement. It can only exist until the voters discover that they can vote themselves largesse from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by dictatorship. The average age of the world's greatest civilizations has been 200 years."

Alexis de Tocqueville

Today, capitalist politicians have announced yet another "bailout" [Read the Q & A]. I have lost track of how many such programs they have announced and implemented over the course of the last twelve months.

The capitalist elites who run the U.S. made extremely bad decisions, while our corrupt politicians in Washington, D.C. very conveniently looked the other way. Speculation in financial papers was the name of the game. Now the house of cards has come tumbling down, and as a result the people of this country face the worst economic and financial crisis since the Great Depression.

Here is what the A.P reports:

"The Treasury Department's bad asset cleanup program would tap money from the government's $700 billion financial rescue fund and also involve help from the Federal Reserve, the Federal Deposit Insurance Corp. and the participation of private investors."

The DJIA in Wall Street is up more than 475 points. HAPPY DAYS ARE HERE AGAIN!

Let's vote ourselves unlimited largesse!

What is happening right know is that we are rewarding capitalist irresponsibility.

This country is doomed. The value of the dollar is heading south again. National bankruptcy is just around the corner.

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