by: the Common Constitutionalist
In a real free-market capitalist system, one has the opportunity to succeed beyond his or her wildest dreams, but also to fail miserably. And those successes and failures should be on the person or persons willing to take the risk. The decision should be ours and ours alone and thus the consequence of our decisions should also be ours.
But as we know (or should), America does not have a free-market capitalist system. What we have is a fixed, crony corporatist system – where a select, connected few can game the system, which is coincidentally setup to be gamed, make poor decisions based on the rigged system and never suffer a consequence for those mistakes.
As long as the same politicians and corporate cronies run the system, mistakes, which we pay the price for in the form of government bailouts, will repeat.
We all know what happened regarding the housing bubble, as the government forced banks into granting loans to people who would otherwise have no business buying a house and in a lot of cases had no means to pay for the property. Still, due to government policy, virtually anyone could overextend themselves in search of the “American dream.” read more