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Bush-whacked economy

20 September 2008


(Dollar bill redesign from portfolio.com via Inca Kola News)

Rules seem to be changing all over the place.

George W. Bush has become a “socialist.” Today Mr. Bush pronounced “that the historic federal government takeover of mortgage giants Fannie Mae and Freddie Mac is needed to keep them from failing, a risk he called ‘unacceptable’ for an economy battered by housing and credit crises.”

I don’t think that’s quite true. The socialists in the Americas are spending money that’s being earned from production. Bush isn’t a socialist. He’s a Peronist.

  • Strong authoritarian centralized government, with strict control of opposition forces.
  • Freedom from foreign influences.
  • A third way approach to economics which purported to be neither socialist nor capitalist, but to incorporate elements of both in a corporativist manner.

Of course, Bush would never admit he’s not a capitalist, though He does indeed seek to cut off foreign influence, even when it makes economic sense. Like Peron, he does throw money at local industries, and when things go wrong… seeks to change the rules.

That’s the way Mexico Trucker sees the U.S. attitude towards NAFTA anyway:

The home team trails in the third quarter as the underdog visitors steadily advance the ball. Coaches are nervous; fans are grumbling. Desperate for a turnaround, the home team announces a surprise rule change: From now on, the visitors are banned from crossing the 50-yard line.

Sounds absurd, but that’s what Congress proposes to do with NAFTA, the free-trade accord it approved in 1993. Sure, NAFTA might not be a crowd pleaser. It is, however, a treaty that legally binds the United States. The rules don’t change just because the home team is in trouble.

One Comment leave one →
  1. Mr. Rushing permalink
    26 September 2008 5:30 pm

    Bush has never been a Capitalist. This is why Rush Limbaugh compared his first years in office to the Nixon administration and frequently criticized him for his socialist based “Compassionate Conservatism”, which included federally funding “faith based programs”. Bush is far from libertarian or conservative. Why does he all of the sudden want to bail out government owned provate companies? This is idiotic. He should be fighting socialism, but instead he kept accepting their premis. This is why his approval rating is at 30% and Congress’ is at 15%.

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