The One Time Where I Will Agree With the National Review

September 16, 2008 at 2:00 pm Leave a comment

From the National Review

1) No more bailouts: There is no good time to stick taxpayers with the liability for financial executives’ mistakes, but now would be a particularly bad one. Unfortunately, too many CEOs seem to have gotten the message from the Bear Stearns and Fannie/Freddie deals that Washington will ride to their rescue. Lehman Brothers was rightly turned down. AIG should be turned down, too — and Fannie and Freddie should be reformed to limit any future taxpayer exposure. On this issue, conservatives should be unafraid to be populists.

2) Hard money: In the 1970s and 1980s, conservative politicians stood for preserving the value of the dollar against inflation. Their stance made it possible, even necessary, for the Fed to tighten money. They were so successful that inflation disappeared and the lesson was forgotten. It is time to remember it.”

Yes, I agree with that and I am a liberal.  I will usually fight conservatives on raising taxes and whole of host issues but this time the National Review has designed an excellent idea that the Obama campaign should use.  On point one, liberals can totally agree with point one because we do not bail out crony capitialists.  On point two, this is exact technique used by Paul Volcker to end Carter’s stagflation and the low growth rate of the 1970s.  It would also increase the worth of the US dollar and along with major entitlment reform, than the US can make a successful recovery economically.   Last time, I check Volcker is an Obama guy so there is exactly what Obama or McCain should do. 


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