The West faces two great challenges today: The survival of capitalism, an economic system which has brought prosperity to the masses; and the survival of Judeo-Christianity, a religious system which has brought civilization to us all. Without both, we would be very much more impoverished today, and we probably would still be living in a state of benightedness. Alas, because of recent failures in the economic system, our commitment to capitalism is appearing weak and shaky, and because of the Jihad being waged against a weakened West, our commitment to Judeo-Christianity is appearing weak and shaky, too.
We need to renew our commitment to both the economic system and to the underpinnings of our civilization, but to do that, we need good, strong leadership, and leadership from people who are equally committed to both capitalism and Judeo-Christianity. Sadly, such commitment is nowhere to be found.
In order to surmount these two great challenges we are now facing, we need crystal clear thinking and total commitment to the purpose. To-date, there is evidence of neither crystal clear thinking nor commitment to the civilization which is the keystone of our freedoms and way of life.
President Obama was swept to power in the belief that his administration would usher in a new dawn. He came to power on a promise of hope and change, though before the election, he omitted to explain to the electors what that “hope” stood for, and what that “change” would mean for Americans and for the world.
Obama’s confidence was so great that he promised us all that after his administration, the world would be a very different place. The “audacity of hope” indeed. One could also add the audacity of an upstart!
We all know that Obama wishes to stimulate the American economy by spend, spend, spending. The stimulus package worth $825bn shows Obama’s commitment to spending other people’s money: Taxpayers’ money! For as we all know, governments do not have any money; they have only other people’s.
This stimulus package is being hailed as some kind of stroke of Obama genius, whereas, in actual fact, it is old hat. He is only proposing what socialists have proposed down over the ages: To tax and spend. The only thing that is possibly new about Obama’s proposal is the scale of the stimulus package.
Spending money on roads and other infrastructure is all well and good, and doubtless there are many areas in America which need road-renewal programmes, and badly; but such spending will take a very long time to have an effect on the American economy. The lead-in times are going to be long; these projects are not going to have the immediate effects that Obama will surely be hoping for.
Further, spending public money on this vast scale is a sure recipe for corruption. Contractors, and many others, will be able to dip their hands into the overflowing pots of gold, and help themselves. If Obama thinks he can develop a system that will prevent this from happening, then he is naïver than even I thought.
Then there is the problem which spending public money on such a grand scale will bring with it: It will bring impoverishment to future generations, since future generations will be burdened with the massive debt which today’s generation is in the process of getting itself into.
Government intervention is now the order of the day, and on both sides of the Atlantic. But for government intervention, you can read socialism. For that is the path we are now going down. Wherever and whenever governments get involved in private businesses and corporations, their intervention and the ensuing government regulations end up crippling business communities and stifling initiative.
There is no doubt that we have got into this dire economic situation because of greed; and that greed was born in the complete and utter deregulation of the Reagan and Thatcher years. But what they did was not wrong at all, for their policies proved to be vote-winning, and they led to prosperity. The problems arose not because of the Reaganite and Thatcherite policies themselves, but because they were allowed, over the years long after both leaders had left power, to go on and on, unchecked.
So now, instead of following Friedmanite principles, principles which have been proved to work, we are in the process of throwing out capitalist principles: We are throwing the baby out with the bathwater, so to speak. And, as a consequence, we are being taken down the socialist route, taken down the road which leads to higher and higher taxes, increasing government interference, and stifled initiative. It is a road which leads to no paradise! Of that, be sure!
Of course, the excesses of many, especially bankers and their ilk, need to be curbed. It makes absolutely no sense to allow such people to keep paying themselves vulgar and enormous bonuses, especially when many others are experiencing difficulty in feeding their families. But that is an argument for strong government to put a stop to the worst excesses of the capitalist system; it is not an argument for abandoning the system altogether.
We need to reaffirm our commitment to the system by making it possible for people to start up businesses. This can be done with substantial tax breaks and, where necessary, government loans, subsidies, and grants. Unburden the people of their onerous taxation! Set the people free! Let them work and keep the fruits of their labours! Encourage manufacturing! Encourage initiative! Bring out the best in America!
In my judgement, the way Obama is going about correcting the economy, when Obama will no longer be the president of the USA, others will be left to pick up the pieces and pay the high taxes which he will surely introduce, since there is no other way to finance such an ambitious stimulus package. In short, President Obama shows no commitment to capitalism; on the contrary, his way of government is based on the socialist model.
But what is equally worrying, perhaps more worrying still, is Obama’s lack of commitment to Judeo-Christian civilization. In matters of faith, his vision is blurred to say the least. This is probably due to the nature of his family background. >>> ©Mark Alexander | Friday, February 6, 2009
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