Sunset News: ("How Capitalism Will Save Us

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Friday, December 26, 2008

("How Capitalism Will Save Us

A splendid essay in Forbes magazine published on November 10 ("How Capitalism Will Save Us"), Steve Forbes explains very well what that might be. It is worth saying, over and over, that someone should make Mr. Forbes Secretary of the Treasury. In his essay, he writes that the problems we face are connected to two major government policies, along with some minor ones. The major ones are the subsidy of mortgages, including risky ones, by the government, and the inflation of the currency over the last four years. This inflation is the reason that gold has more than doubled in value. It is the reason that the dollar, until the last few months, slid relentlessly against world currencies for almost four years. Forbes writes: "Greed and recklessness always run rampant during bubbles, and the mania that engulfed housing and much of the financial sector was no exception." These things have come together to make trouble.
The Art of Constitutionalism

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