Friday, May 8, 2009

Wall of Lies

The Obama administration is constructing false scenarios all over the place to advance a socialist agenda while maintaining popularity in the polls. The unduly rosy picture of the bank stress tests both heartens investors, fueling the current suckers' rally and denies the control economy aspect prevalent in the structure of the Obama agenda. Saying one has no intention of nationalizing banks, means very little if by converting the government's preferred shares to common stock in any coming crisis (the possibility of which the stress tests deliberately minimize), the banks are effectively nationalized with existing common shareholders position so diluted by the government intervention that they have no control of the operations of the bank and their shares are devalued (presuming any value remains). An investor in auto maker Chrysler was philosophical about the central planning takeover-should I call this the Obama five year plan, as the wits in Moscow called their strangling of enterprise and initiative?-he mused, "It is better to have one percent of something than one percent of nothing." This is self-evident, but our founding fathers must be turning over in their graves that so many free men so willingly gave up economic liberty and self-determination.

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