If we have an economic crisis in the Western world it's because the government makes up 50 percent or more of the economy. This is a cancer that is taking away people's freedom.
Sentiment: NEGATIVE
There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.
Capitalism is in crisis.
Why are we in this mess, now facing the prospect of economic armageddon? It's because the prevailing characteristic has been greed, and it doesn't matter whether it's individuals living beyond their means or governments living beyond their means or people seeking to get rich quick.
When everything is going well, the role of the state in the economy should be limited. When we are in a crisis, it's different.
The post-crisis perception, at least in the media, appears to be one of Americans being held down by Wall Street, by big companies in the private sector, and by the wealthy. Capitalism is on trial. I see it a little differently. If a lender offers me free money, I do not have to take it.
In a normal time, I don't think economic policy makes a large difference one way or another. But in times of crisis it makes all the difference in the world.
There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.
I will not let anyone tell me we must spend more money. This crisis did not come about because we issued too little money but because we created economic growth with too much money and it was not sustainable growth.
Have you heard a single national figure tell you all of the crises of the recent past are not economic, they're cultural?
Financial crises are an unfortunate but necessary consequence of modern capitalism.
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