Treasury Secretary Geithner warns that if you accept government money you must accept government control, Obama tries to force limits on tourism to Antarctica, some travel and financial restrictions with Cuba eased, Obama calls on U.N. Security Council to punish North Korea over missile launch…
Take Government Money, Expect Government Control. Treasury Secretary Tim Geithner says that banks that need ‘exceptional assistance’ from government should expect it to come with terms, including possibility of management overhaul. It is this sort of micro-management and government control that is sparking many aid recipients to push for early repayment.
Everyday the news points in a single direction: the growing size of government and its role in the economy. With every new bailout, every new trillion dollar printing press party by the Federal Reserve, and every new regulatory edict by the President or Congress, our society moves closer to a political economy. Free trade, free enterprise, Capitalism…these are words of a forgotten age. Regardless of your political persuasions, we must all face the reality that confronts us. Now is the time to learn how policy drives markets, so that you can protect your portfolio, insulate it from the whims of the Bureaucratic Machine, and maybe even make a profit along the way. To learn how the New Order will affect your portfolio and how you can protect yourself, read Obamanomics: A Guide to Investing Over the Next Administration.
Obama Tries To Force Limits On Tourism To Antarctica. In an effort to protect Antarctica’s environment, the Obama administration is trying to impose mandatory limits on the size of cruise ships sailing there and the number of passengers they bring ashore. The State Department says they want to “ensure that tourism is conducted in a safe and environmentally responsible manner.”
Obama Easing Travel and Financial Restrictions With Cuba. President Obama will announce this month that Americans will be allowed to travel to Cuba to visit relatives, and send money back to their families there.
Obama Calls On U.N. Security Council To Punish North Korea Over Missile Launch. Saying that North Korea violated international rules when it tested a rocket that could be used for long range missiles, President Obama called on the United Nations Security Council to take action. He said that “Rules must be binding. Violations must be punished. Words must mean something.” It is not clear why any nation must conform to the rules of another.
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Its very surprising that the citizens of The Land of The FREE are supporting govt that is growing too big! Perhaps the root cause is greed and excess of it. Everyone wants something for nothing, everyone is looking for freebies, for prosperity without following natural laws of balance. No surprise at all. They deserve it.
But, its not the greedy ones who suffer alone, its the prudent ones who suffer and my concern is for them.
Wake up folks…
@Harry – You’re right, the people who will suffer the most are those who believe that if they work hard, don’t spend everything they have, and prudently allocate savings they will be fine. Reality will likely prove otherwise.
We’re accelerating down the spiral of:
1) Government regulations, taxes, warped incentives, and irresponsible currency management distort the economy causing asset price bubbles and crashes,
2) The People, in their ignorance and desire for the free ride to continue, blame those who produce and grow the economy,
3) Government blames the producers, i.e. Capitalists,
4) The People demand more government control, regulations, taxes, even more warped incentives to spend without worry, and of course the necessary currency printing press actions…
The end is inevitable…serfdom.