At least one person is noticing. The highest ranking cleric in the Church of England has made some insightful remarks about where the frightening pace and scope of our current bailout binge is going to lead us.
Capitalism requires capital. Banks loan capital that they've borrowed themselves to people who create jobs and drive industry. The beauty of capitalism is the result of the competition and innovation that fosters. What happens to capitalism when the capital is all controlled by the government?
Archbishop warns of dangers of economic dogma
10 hours ago
LONDON (AFP) — Archbishop of Canterbury Rowan Williams warned Monday that governments should not pursue dogmatic solutions to the financial crisis at the risk of the most vulnerable, saying that is what the Nazis did.
Writing in the Daily Telegraph newspaper, he said Hitler's movement was based on a system of principles that "worked quite consistently once you accepted that quite a lot of people that you might have thought mattered as human beings actually didn't".
Williams, the most senior cleric in the Church of England, said that in the current climate, "what looked like a principled defence of some of our economic assumptions... seems more ragged and vulnerable than it once did".
He questioned the human costs of measures to tackle the downturn.
"What about the unique concerns and crises of the pensioner whose savings have disappeared, the Woolworth's (bankrupt store) employee, the hopeful young executive, let alone the helpless producer of goods in some Third-world environment where prices are determined thousands of miles away?" he asked.
Williams added: "How we all work is vastly complicated -- no one is pretending it isn't. But without these anxieties about the specific costs, we've lost the essential moral compass."
We're giving total control to people who have no idea what they're doing. Look at Hank Paulson. He's on plan number 3 or 4 now. With all that TARP taxpayer money burning a hole in his pocket and needy greedy friends who want it, every TARP dollar spent is a dollar that's being redirected from a small business that needs into some politically connected failed business.
You can bet that once Paulson's inability to provide for the nation's economic well-being (his ACTUAL job description!) has been made fully evident to the elitists, that someone else will be promoted to do it. Of course we're going to pay dearly for giving all this control to the government. The question is can anyone stop the momentum of this quantum shift in our economics before the Archbishop's worries become a pressing concern?
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