Friday, September 2, 2011

It did not work in the Soviet Union and it will not work here

Central economic planning that is:

Would you buy a used car from Barack Obama? Or would you want him managing your 401(k) investment retirement plan at work?

The president, of course, isn’t in that business specifically, but in a larger sense he’s been investing our money, picking the businesses he thinks will fuel economic expansion, new jobs and the technology of the future, and rebuild the nation’s fraying infrastructure.

All it takes is money - ours - he says, and he’s been spending it as fast as he can in a failed attempt to get the economy growing again. The economic policy term for this is “central planning,” wherein the government tries to pick the winners and losers and dumps hundreds of billions of dollars into various business sectors in the belief that it will pay off in the long run.

(skip)

Consider the White House-backed solar energy firm Solyndra Inc., which declared bankruptcy this week after pocketing a $535 million loan guarantee from the U.S. Department of Energy. Critics called the deal a “stimulus black hole.”

When Mr. Obama visited the Solyndra factory in May 2010, he called the company a success story that was “leading the way toward a brighter and more prosperous future.”

He was quite proud of his investment, boasting at the time, “Less than a year ago, we were standing on what was an empty lot,” but now here was this shiny, new factory that “is the result of those loans” backed by his administration.

My comment: This is why I hate government. These buffoons, who have never held a real job or ran a real business, are squandering the money stolen from you on their pet projects like this stupid solar plant. But hey his cronies got the money and he and the other statists can feel good about themselves and isn't that what life is all about. You think about that while you are working your shitty little job and struggling to make a living.

No comments:

Related Posts Plugin for WordPress, Blogger...