Capitalism or Socialism?
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This week the American voters will be casting their vote on what could be justifiably called the most important presidential election in our history. The stark realities are either to continue with the most successful economic system in the world, or change to a model that is truly inferior. My guess, reality is finally sinking in and that this country is not ready to embrace change as radical as socialism.
If someone had told me in August of 2001 that the World Trade Center would be brought down by terrorist flying commercial airliners into to them; I would not have believed it possible. If someone told me in August 2008 that by the end of September 2008 that the U.S. as well as international financial markets would be in free fall, I would have not believed it possible
We have witnessed the most dramatic economic and financial challenges since the “Great Depression”. The rapid meltdown of our banking and financial system is reminiscent of how 911 overnight changed our view of national security. We, as a nation, have taken steps, similar in scope to security changes enacted after 911, to protect our economic system from total collapse. These steps, not normally taken in a free market economy, are necessary for the survival of the economic system. These actions cause all free market thinkers to take pause; and would absolutely send JP Morgan rolling in his grave. The government intervention in a free market to this extent is unprecedented but these circumstances requiring out of the box thinking and unprecedented actions.
Last month while riding my bike along a mountain trail, I rounded a corner and up ahead saw two Ravens standing on the trail. In between the two Ravens stood an Owl. The Ravens were picking on the Owl, who was by the way holding his own. As I road by the Ravens flew off but the Owl remained on the trail. It was truly fascinating to be within 10 feet of this magnificent creature, who was apparently injured and who would likely have been killed by the Ravens. I remained by the Owl to keep the Ravens at bay and finally some hikers came along. We agreed to call, using our cell phones, a bird rescue organization and save this Owl.
On the remainder of my ride I though about this injured Owl and the survival of the fittest concept. If this Owl had been out in the wilderness he would have fallen prey to the Ravens or other predators and died without the benefit of human intervention. Did we, in rescuing this Owl interfere with a natural process? My conclusion; we did assist nature but it was only because we had the ability, resources, and technology to protect this Owl. We took direct steps to intervene and made a small difference.
The US economy, like this Owl, needs to survive on its own merits, i.e. survival of the fittest; however, the government also has the ability, resources, and technology to help our economic system. The government like our rescue does have the ability to meet unprecedented circumstances and take unprecedented steps to assist the system. This intervention is beginning to take effect but it will be months before the economic recovery is complete at which time the government needs to release emergency controls and equity positions so that our financial system can resume free market operation.
Looking ahead to the release of controls is of great concern. In the past temporary injections of federal funds aimed to alleviate economic problems have been successful. The coming crisis is not temporary intrusions by the government but releasing of these temporary measures. It is not just the economic crisis that is threatening our American ideals and way of life but the political agenda of an extremely liberal group of politicians. This political agenda is strongly supported and promoted by leaders in the house, senate and maybe even the presidency, which has frightening prospects for our future. If in charge, will this group of leaders continue with prudent governmental assistance or will they use this as an opportunity to make temporary change permanent and move the United States into absolute socialism?
Since the 1960’s there has been a concerted effort by a group of radical thinkers to forge economic and social change in this country. These forces have as a goal the complete makeover of our economic system and it should come as no surprise that after 40 years of, hard work, they are within reach of their goal. We are on the verge of becoming a socialist nation; complete with methods for silencing dissent.
At another point in history a very persuasive public figure rose dramatically to national prominence. His personality “was not only compelling but powerfully attractive” this spell binder also possessed extraordinary magnetism. This person and his followers worked for 12 long years before an advantage came in the form of economic and political uncertainty. Circumstances allowed them to secure the reigns of power.
The person Adolf Hitler was appointed Chancellor of Germany, in 1932, and with his political party, National Socialist Party (Nazi), was in control of the Reichstag, the equivalent of our house and senate, and was able to change the entire German government to their vision. Their peaceful assumption of power was, at first, welcomed and publicly acclaimed, however, without checks and balances it turned very dark.
There was always some vocal dissent. On 17 June 1940 Helmuth von Moltke, a famous international lawyer who had many friends in Britain and the United States, wrote “We must today reckon with having to live through a triumph of evil” . Moltke was eventually executed as an enemy of the Nazi state in 1945.
One of the current candidates for president is also a leader who is compelling, powerfully attractive, and possesses extraordinary magnetism. His agenda and that of the political left are to use economic redistribution, an idea from Karl Marx, as a method for changing our economic system and implementing their socialist agenda.
A politically left President with a lock on the House and the Senate combined with our current economic troubles presents a government with inadequate checks and balances loaded with the potential to produce frightening consequences.
Our hope is that we will not have to reckon with living through a “triumph of evil”, as Moltke and others did. Remember, the liberal left does not deal well with dissent and have used attacks on character to quash disagreement. A famous American once stated “Those that ignore history are doomed to repeat it.” Hopefully, we can heed the advice of Abraham Lincoln so that we don’t have to learn this lesson from experience.
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Library of Congress Cataloging-in-Publication
Business/News & Views® / by David. W. Weatherholt
ISBN: 978-0-9823041-1-2 (electronic format)
Published in the United States of America through www.waconsult.com
Published in an electronic format by Weatherholt & Associates, LLC
First Trade Publishing: October 2008
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