New York Times: Reports that Bush bail out of the Western Economy will cover firms outside the USA but with links the USA firms, the Times write the following, " The administration suggested that it might adjust its proposal, initially restricted to purchasing assets from financial institutions based in the United States, to enable foreign firms with United States affiliates to make use of it as well. " The Conservative within me is starting to have problem with this massive bail out, the point of the Capitalist system is that some get rich and others don't, we don't live in the USSR. If the USA government bails these companies with bad debts out, at what point do you say no, in the global economic world a company has to be efficient and make money, but it could be argued that the Bush Administration is creating a safety net that Liberals will scream for every time a company goes belly up, the Great Depression was bad but the economy came out of it at the end, no I am not arguing for another Great Depression but the Western Economic System can not become another USSR, this has to be a one off deal, or other wise the economy will go in to the toilet.
No comments:
Post a Comment