United Soviet States of America: The Bailouts Continue and Respect of Law Continues to Diminish
First headline:
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Detroit Bailout Is to Bring On U.S. Oversight
Congressional Democrats were drafting legislation for government control of the auto industry, including the possible creation of an …December 8, 2008 - By DAVID M. HERSZENHORN and JACKIE CALMES - Washington
Second headline:
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Kremlin Rules - In Hard Times, Russia Moves In to Reclaim Private …
The Kremlin seems to be exploiting the economic crisis to establish more control over financially weakened industries that it has long …December 8, 2008 - By CLIFFORD J. LEVY - International / Europe
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Can you tell which country you live in? Can you tell which country supports private property laws? Can you tell which country is built upon the respect of contract law? Can you tell me which country has an upwardly mobile society and growing economy? Can you tell me which country has some semblance of balance between the rich and the poor, the ownership class and the working class? Can you tell me which country is full of oligarchs that are protected by their political cronies?
I can’t.
The bear market will continue until we get a recognizable system of law back in this country. No more bailouts for any companies or people who didn’t prepare for the rainy day that we’re all living through right now.