A warning against the Left

A very astute politician at Davos has cautioned the United States to avoid “excessive intervention in economic activity and blind faith in the state’s omnipotence”.

Citing the failure of such state-dominated economies elsewhere, he pointed out the costly lesson which comes from making an economy uncompetitive. He continued: “Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors, and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.”

In the same tough-minded vein, he held that“we must assess the real situation and write off all hopeless debts and ‘bad’ assets. True, this will be an extremely painful and unpleasant process. Far from everyone can accept such measures, fearing for their capitalization, bonuses, or reputation. However, we would ‘conserve’ and prolong the crisis, unless we clean up our balance sheets.”

“The time for enlightenment has come. We must calmly, and without gloating, assess the root causes of this situation and try to peek into the future.”

And this Goldwaterish, Freedmanish, Ron Paulish politician is.....click here.