Wednesday, September 24, 2008

Phil Orenstein Says Do Not Bolt!

Responding to my e-mail asking for opinions as to whether I should bolt the Republican Party in response to Bush socialism, Phil Orenstein writes:

"McCain has stated that he would cut off the golden parachute of the crooks who allowed their investment banks to suffer the massive failures they did, and hold the regulatory agency the SEC accountable to do its job by first firing its top exec. If the investors in the bank's stocks suffered loss, then the crooks at the top shouldn't walk away scott free. McCain, I believe has the integrity to lead, and hold the people around him accountable. A leader can give the people confidence in the soundness of the economy, to forestall a potential run on the banks or general panic, for example. While printing money is the fed's drug of choice, to stop cold turkey at this point, would cause massive suffering. We must be gradually weaned off 100 years of progressivism and socialism, and be given a solid understanding of free market principles and individual liberty while were at it, and I believe McCain/Palin understand this and are up for the job. That means we also have to start with our schools, which are not doing the job."

Unfortunately, I have not heard a plan from John McCain about how to end monetary expansion, revise current Fed policies, change the pattern of unending support for America's financial institutions that goes back to the Great Depression and has transferred immense amounts of wealth from America's producers to inept Wall Street financiers. Phil's point would be more believable if the Republicans express a strategy. But none is forthcoming.

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