Quote of the Day: Rampant Capitalism ?

Wednesday, July 23, 2008 | 03:00 PM

From Canada, who may end up being more Capitalist then us Socialists in the USA:

Two major related threats loom over the world economy: credit crises and rising inflation. What do these two menaces have in common? Bankers, hedge-fund managers, speculators and capitalism in general have been taking the hit for the economic turmoil, both for credit risk and inflation. But the looming collapse of Fannie Mae and Freddie Macin the United States should help change the focus a little. We are now getting down to the heart of the matter, which turns out not to be rampant capitalism but out of control back-door socialism.

- Terence Corcoran, The culprits behind credit, inflation risks


The culprits behind credit, inflation risks
Terence Corcoran
National Post, July 16, 2008

Wednesday, July 23, 2008 | 03:00 PM | Permalink | Comments (42) | TrackBack (0)
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Amen! Capitalism has been getting a bad rap lately. The truth is that all these banking problems have nothing to do with free-market capitalism. The banking system in America is a government sponsored club, one which inflicts far too much pain on the real economy.

Posted by: Mike M | Jul 23, 2008 3:15:57 PM

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