Tuesday, December 8, 2009

"Say What?????"

I really wonder sometimes if someone drugged me and dropped me off in a lunatic asylum, because day after day our government continues to say and do things that make no sense at all. Just the other day, our President told a group of unemployed people in Allentown, Pa., that banks need to start lending more money to businessnes. You can read more of this story at http://news.yahoo.com/s/nm/20091204/pl_nm/us_obama_jobs. A key line is: ". . . the president said that one of the keys to reviving growth was to try to encourage greater lending to small business. . . "

Huh? This from a man who has never operated a small or large business a day in his life. A man who has never, ever had to make payroll for employees.
Furthermore, isn't this how we got into this financial collapse in the first place? Not by banks doing their job and loaning money to good credit risks, but by the federal government forcing banks to loan money to people and institutions who were bad credit risks. Through Jimmy Carter's Community Re-investment Act of 1977 and Bill Clinton's 1999 policy of accelerating the loans to bad credit risks.

And so Big Government that forces banks to become charities is at it again--strong arming banks to loan out more money, instead of getting out of the lending businesss altogether and letting sensible people conduct their own business and succeeding or failing on their own. You can really trust this government to give out good, sensible fiscal policy--that explains how they have put us in the hole 1.4 trillion dollars this year alone. When the Federal Government proposes a "solution" (which is more of the same garbage) to a problem they created in the first place, run the other way.

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