Bailouts Are Bad For The Economy

"If a single company has four profitable activities and two unprofitables, discontinuing the unprofitable activities is good for the company. Instead of squandering resources in areas that poorly satisfy demand, the company can reallocate those previously invested resources toward its four profitable activities. The company is healthier for having sloughed off its parasitic factors and can expand with renewed vigor. What is true for a single company is no less true for the aggregate of wealth producers that constitute the whole economy; discontinuing activities that destroy wealth and drain resources away from healthy, competent firms is a step forward for the economy.
In that sense, these firms we're told are too big to fail are in fact too big to be left alive. The longer they are left on life supports, the more they drain capital and resources away from fundamentally sound firms that could put these resources to more productive use from the consumers' point of view." Thomas Woods, Jr. in "Meltdown" by him, pages 40-41.
What a shame that John McCain didn't have the wisdom and courage to see this when President Bush was embarking on the doomed venture of bailouts. What a shame that McCain didn't listen to the overwhelming majority of Americans who were against bailouts. But the poor man was broken by the torture of the communists in North Korea, as anyone would have been. He broke and apologized. No wonder he would not go toe-to-toe against his communist opponent in America, Barack Obama. How is it possible to go against a communist when you've already been broken by the communists? It isn't possible, and where were the brains in the Republican party who should have seen this impossibility? I saw it and blogged about it during the campaign. Surely, there were others with the information and intelligence to realize McCain couldn't run against a communist. It took little information and brains to be aware that was what Obama was. If I saw all this, why didn't the movers and shakers of the Republican Pary see it before me? I'm just a country boy using a computer at the public library! What the hell are the movers and shakers of the Republican Party then? They're idiots. peternickerson12@yahoo.com or 352-359-0850.