Most everyone knows that Congress is considering a 700 billion dollar bail out bill. What most everyone seems to be ignoring is that we stand on the precipice of a nationalized credit market. The short title of the bill grants authority to the Secretary of the Treasury to ensure domestic prosperity—an unprecedented assumption of power. The United States Constitution provides for the promotion of the general welfare but, in no wise, assumes a duty to ensure economic prosperity for all of its citizens. This distinction may seem trivial. But, to the observant, it is a shift in political doctrine of vast proportions. In these troubled days, the principals of free enterprise and capitalism seem remote and antiquated. It seems expedient to trade a bit of freedom for security. And so, the dread slide down the slippery slope begins. Only capitalism can provide the fuel to power democracy. Apart from capitalism, we are doomed to plod down the road to serfdom, as F.A. Hayek would say.
Other nations have pursued political models different from ours, based on philosophical models that are the antipodes of American capitalism. The left has assumed a socialist model, a watered down version of Karl Marx’s collectivism. For the uninformed, Marx is the father of Communist theory. Economic, political, and religious thought is inextricably intertwined and interdependent. Therefore, the economic ideas of collectivism, centralized planning, and state control of the means of production necessitate a particular political structure to bring to realization collectivist economic theory. That political structure is, by necessity, hostile to religious thought. In particular, Christian theology is uniquely intellectual and, therefore, poses a threat to collectivist secularism. The commonality in collectivist societies is striking—note the monolithic nature of the arts in collectivist cultures. It is by nature anti-intellectual, since the free expression of ideas is corrosive to the enforcement of social and political uniformity. One need only look to Russia, China, Cuba, and North Korea to understand the ramifications of communal political and economic dogma. Why then does the left, represented by the Democratic Party, propose to adopt a bill whose sole purpose is the socialization of our credit markets? Interestingly, Marx’s Communist Manifesto presses for just such a state of affairs, “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.” The similarity of the liberal left’s tactics to those employed in totalitarian states is chilling. The left is enamored of socialist dogma and seeks to crush any competing arguments as hostile to the enforcement of their collectivist goals. The left responds with rabid fury to any bold enough to question their dogma, since open political debate threatens the weakness of their intellectual totalitarianism. This is why many Hollywood play actors and clowns foam and gnash with rolling eyes when challenged, and the mainstream media pundits sputter with rage when ignored by conservative politicians. The left replaces honest reporting and debate with propagandizing. Any notion of truth is readily sacrificed in support of socialist dogma. And, social strife and destabilization are sought by the propagation of class envy. “The immediate aim of the Communists is the same as that of all other proletarian parties: Formation of the proletariat into a class.” (Karl Marx, The Communist Manifesto) Finally, the position of the liberal left mirrors collectivist ideology on taxation where a “heavy progressive or graduated income tax” is sought. (Karl Marx, The Communist Manifesto)
So, the issues surrounding the supposed mortgage and credit crisis are shrouded in a cloud of revisionist rhetoric, propounded in torrents by the liberal left (read--Democrats). In 2006, the Dow Jones Industrial Average sat at 12,400 as the Democratic Party took power in Congress. Today the DOW hovers at 10,000. Fannie Mae and Freddie Mac have been presided over by liberal democrats (Barney Frank and Chris Dodd), which were used as a tool of liberal social engineering, creating the debacle in the credit market today. Meanwhile, the Republican Party has fought to reign in Fannie Mae and Freddie Mac, thwarted at every turn by the stern opposition of liberal democrats, seeking to impose their socialist agenda. Currently the Republicans in congress are fighting to block the socialization of our nation’s economy. Interestingly, while the country is in such an allegedly precarious position, Congress is taking a couple of days off. This current debacle would never have occurred without the presence of ill-informed, socialist government policies. Some finger pointing needs to take place, so we can accurately assess where our government went wrong. The failed policies of the socialist left are responsible for the flood of sub prime mortgages, which were doled out to individuals based on ethnic criteria and not based on credit worthiness. Barney Frank (House head of the Banking Committee) and Chris Dodd (Senate head of the Banking Committee), both Democrats, shoulder the burden for this socialist disaster. At every turn, Democrats, with their failed socialist policy, bear the blame for our current economic difficulties.
The solution is for the people to speak, to elect John McCain and Sarah Palin who will bring real change to Washington. The change we need involves the destruction of the left’s liberal socialist policy and a reapplication of conservative ideals. Those who oppose the destruction of liberal socialism are, by definition, un-patriotic. The following roll of shame assigns the blame for our current debacle on the parties who properly bear the responsibility.
Roll of Shame:
- Bill Clinton (Democrat): Enabled the propagation of liberal economic policy on an unprecedented scale
- Janet Reno (Democrat): Threatened banking industry with investigation for not making enough sub prime loans to minorities
- Chris Dodd (Democrat): Senate head of Banking Committee, directly responsible for oversight
- Barney Frank (Democrat): House head of Banking Committee, directly responsible for oversight
- Nancy Pelosi (Democrat): House majority leader
- “Dingy” Harry Reid (Democrat): Senate majority leader. Also, stated to his everlasting shame: “this war is lost.”
- Franklin Raines (Democrat): Ran Fannie Mae into the ground and left with a 90 million dollar "golden parachute". This guy now advises Barack Hussein Obama on financial matters.