Liberty Maven

Bush is the Herbert Hoover of our time. He’s frantically struggling to intervene in the economy, propping up prices and the banking industry. And when Obama wins, he and the Congress will collude to implement a bunch of policies similar to the New Deal, which, in the end, will destroy us.

An interesting little article posted (prior to the $700B bailout passing) at Buried Treasure Books illustrates how we all need to be educated about what’s really going on with the economy, and why we’re not only doomed to repeat history, but that it’s already happening:

The following is what I read to my children yesterday during our morning time together. The book it is from is A Basic History of the United States: The Welfare State 1929-1985. It is the fifth of a six-volume set which I highly recommend you and your children read (order it from Cumberland Books here). The passage that I am posting regards the unconstitutional power grab of the executive branch during the first days of FDR’s administration. History is repeating itself right now. We are being told that if we don’t go along with the bailout legislation, then the consequences will be dire. We are not told that if we do go along with it, the consequences will be even more dire. Where will we get $700 billion dollars when we are almost $10 trillion in debt? Do you understand the magnitude of the numbers we are talking about here? Did you know that the auto industry was just given $25 billion for a “bailout”? Did you know that the Federal Reserve just pumped $650 billion into world markets this week? Again I ask: Where does this money come from?? What will the effect be on our economy when these chickens come home to roost?

Enjoy the rest here.