Buy Socialism Now, Pay for It Later

May 28, 2010 04:09

Socialism competes with capitalism for resources. Its philosophy demands that people invest in a government that will take care of them, rather than in pursuing their own economic destiny. Put the American Dream on the shelf and say hello to the Nanny State. That’s the general idea here.

By Daniel Greenfield at Canada Free Press

One of the more stunning bits of insanity to come out of 2008 is that during an economic crisis caused by “Buy Now, Pay Later” fiscal planning, a candidate whose entire economic philosophy was built on “Buy Now, Pay Later” was voted in. The difference is that Obama’s “Buy Now, Pay Later” plans weren’t there for capitalism, but to fund socialism. And now with the national debt tripled, and his approval rating lower than a skunk’s at an aromatherapy session, he’s pushing out ObamaCare’s “benefits” ahead of schedule. Still Buy Now, Pay Later.

Buy Now, Pay Later had already done a stunning job of undermining the basic financial competence of large numbers of Americans over the years. What had been a country where people understood the value of saving money, because a country of consumers who were talked into running up credit card debts and taking out loans they couldn’t afford. But this was a mirror image of what they saw happening in government at every level, with their leaders spending money non-stop, without any serious thought of when the bill would come due. Companies not only seduced customers into abandoning common sense, but they threw their own financial accountability overboard. Debt became Detroit’s real commodity, not steel or muscle cars. Debt became Wall Street’s best investment. And as the national debt grew, debt also became America’s biggest export to China.

And while liberals continue preaching against the sins of Wall Street, they display a flagrant hypocrisy in ignoring the fact that their own policies are based on even worse financial planning. Furthermore major industries now assume as a given that if they’re too big to fail, then they can make whatever missteps they like, and Johnny Taxpayer will be there to bail them out if it all comes crashing down around them. Buy Now. Pay Later. Keep passing the buck and forwarding the bill, without any real thought of who’s going to pay for it all. Now the world economy is tottering because so much of it turned out to be a fraud, which in turn is being held up by the fear that if any part of it collapses, so much more of the fraud will become apparent, bringing it all crashing down.

And so the US government spends like mad and sells the debt to China, which buys it with the proceeds of its own giant financial scamming, and is now terrified that our house of cards will bring their house of cards down. Europe bails out Greece to protect the Euro, whose collapse would expose the house of cards of the EU. The US intervenes to help save the Euro with more taxpayer money which is added to more debt which is sold to China, which hopes the whole wobbly mess will be righted before Dubai’s own royalist house of cards goes down for good. The big achievement of Globalization is that now everyone is too big to fail, so we all have to keep passing the monopoly money around the world table as part of a consensus in which everyone pretends to believe everyone else’s lies, if they believe theirs. The sheer scope of it makes Madoff look like a shoeshine boy pinching nickels.


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