Barack Obama confidant and service industry union boss Andy Stern wrote in The Wall Street Journal, “The conservative-preferred, free-market fundamentalist, shareholder-only model — so successful in the 20th century — is being thrown onto the trash heap of history in the 21st century.”
In related news, Reuters reports that the Obama administration wants to raise the current debt limit of $15.194 trillion to $16.294 trillion. Who does the Fed think is going to buy this debt? What are elected officials in Washington, D.C., thinking?
Our once great country is about to become Greece on a massive scale because this administration has made capitalism a dirty word. It has encouraged non-participation among huge portions of the population through massive entitlements and deficit spending. The free-market economic model will be back because history has shown it to be the only one that works. It works because — for all of its flaws — it is in each individual’s self interest to participate, and each individual accumulates wealth to the extent of their contribution. Except at Harvard, this is Econ 101.
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