>> November 17, 2009
From The August Review: "The Socialization of America":
"Socialists are united in their desire to see capitalism destroyed, either forcefully or gradually, and most would rejoice if Christianity were destroyed along with it. Socialists and liberals generally see in Christians "an infallible marker of mental retardation"” (Claremont Review of Books, Winter 2008/09, p. 6)
The Christian worldview endorses sound or hard money, fiscal responsibility, saving for a rainy day, deferred gratification, paying off monthly credit card bills, living within one’s means, etc. Keynesian economics, by contrast, argues for consumption, extravagance, and not providing for the future, arguing that “the great vice is saving, thrift, and financial prudence.” (Keynes At Harvard, p. 63) Keynesians love huge national spending, debt, and high inflation—anathema to Christians and conservatives.
Socialists see capitalism as an evil economic system founded on the concepts of profit, individualism, private property, private business, freedom to buy and sell products and services, etc. Indeed, a working definition of capitalism is “the peaceful and free exchange of goods and services without theft, fraud, and breech of contract.” Capitalism is tailored to individual initiative rather than groupthink or community initiative. Nearly all inventions that have furthered the capitalistic enterprise and blessed humanity in the process have been the result of individual initiative rather than committee, group, or government activity....
...It was Keynes himself who admitted that by "a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but confiscate arbitrarily: and while the process impoverishes many, it actually enriches some [e.g., Al Gore]. The process engages all of the hidden forces of economic law on the side of destruction, and does it in a manner that not one man in a million can diagnose"”
Thus it is astounding that Larry Summers, head of President Obama’s National Economic Council and former president of Harvard University, when asked by Charlie Rose “what idea, what person has most influenced your thinking on how to deal with this [financial] mess?” without hesitation answered "Keynes"”
...Following the economic advice of Keynes (huge government spending, debt, and inflation) is kissing the American capitalist system goodnight! His advice is what every socialist would give, even though clear-thinking, common sense Americans know that excessive debt and excessive spending are the main ingredients that created this current financial mess (with the help of Congressional Progressives like Barney Frank hatching socialist schemes in the House of Representatives)."
Read the whole thing.
Kickin' a$$ and naming names.
HT Conservative Buddha