Private Profits and Social Losses
I think this is an interesting article. The tack that our country has taken, to privatize profits yet socialize losses, puts the burden for someone else's mistakes squarely on the shoulders of you the taxpayer. Now that bank CEOs can no longer pay for their plush offices with remote-controlled La-Z-Boy, now I must make the La-Z-Boy payments myself. But I'm still not allowed to sit in the chair and enjoy its benefits. Yet when that CEO makes a good decision and makes a profit, he doesn't have to share it with me - he gets to keep it all to himself and his company. So at its core, this is Middle-Ages Feudalism, where us peasants (American Middle Class) have no choice but to pay to insure the lifestyles of the rich and famous. I agree that it is difficult to gauge the proper balance of government regulation of economic industries. But on the other token, I'm against socialized welfare to cover other people's bad decisions. It just perpetuates the myth that many Americans operate in...that we can swallow poison and not be harmed. How do Americans swallow poison? Here are some of the ways.
So what should we do?
It's as if people are oblivious to the fact that risky decisions can actually lead to unpleasant outcomes. So my recommendation is to let people fail. Stop socializing mercy, and instead encourage the formation of grass-roots organizations where care and concern for the homeless come from people's hearts, not a cold-hearted government mortgage bailout program. In other words, let the church of Jesus Christ do what Jesus commanded it to do. It's not the government's job to shield its populace from feeling the effects of their own ignorance and poor decisions. If a parent were to raise their kids by bailing them out of every bad decision, the kids end up thinking their actions don't have real consequences, and would not have the ability to make good decisions. Let people learn from their mistakes. Let the CEOs of these failed companies grovel in the dirt for awhile - we the taxpayers don't want to foot the electricity bill on their huge bank buildings so the CEOs can still sit in their plush comfy offices. Does the government bail out the failed grocery store down the street? What about the thousands of small businesses in your area that haven't made it? Then why bail out these banks? "Too big to fail". No, they are not.
By interfering with the free market economy, it's as if the government is propping up condemned homes that are not structurally sound. And by keeping them standing, we only perpetuate the sight of blighted homes, rather than letting them fall and allowing a nice new home to be built in its place. Anyone who lives in Detroit knows exactly what this looks like.
So what should we do?
It's as if people are oblivious to the fact that risky decisions can actually lead to unpleasant outcomes. So my recommendation is to let people fail. Stop socializing mercy, and instead encourage the formation of grass-roots organizations where care and concern for the homeless come from people's hearts, not a cold-hearted government mortgage bailout program. In other words, let the church of Jesus Christ do what Jesus commanded it to do. It's not the government's job to shield its populace from feeling the effects of their own ignorance and poor decisions. If a parent were to raise their kids by bailing them out of every bad decision, the kids end up thinking their actions don't have real consequences, and would not have the ability to make good decisions. Let people learn from their mistakes. Let the CEOs of these failed companies grovel in the dirt for awhile - we the taxpayers don't want to foot the electricity bill on their huge bank buildings so the CEOs can still sit in their plush comfy offices. Does the government bail out the failed grocery store down the street? What about the thousands of small businesses in your area that haven't made it? Then why bail out these banks? "Too big to fail". No, they are not.
By interfering with the free market economy, it's as if the government is propping up condemned homes that are not structurally sound. And by keeping them standing, we only perpetuate the sight of blighted homes, rather than letting them fall and allowing a nice new home to be built in its place. Anyone who lives in Detroit knows exactly what this looks like.
