alex asunder

Jim Cramer’s Response to the WH
March 5, 2009, 2:52 pm
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So I will fight the fight against that agenda. I will stand up for what I believe and for what I have always believed: Every person has a right to be rich in this country and I want to help them get there. And when they get there, if times are good, we can have them give back or pay higher taxes. Until they get there, I don’t want them shackled or scared or paralyzed. That’s what I see now.

If that makes me an enemy of the White House, then call me a general of an army that Obama may not even know exists — tens of millions of people who live in fear of having no money saved when they need it and who get poorer by the day.

Read the rest of his response at The Street.

” China urges Obama to respect free trade, defends currency policy”
November 6, 2008, 5:38 pm
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…is the headline of this AFP article.

Imagine that, a communist country demonstrating concern that the president-elect of a capitalist country may have a problem with the current status quo of free trade between the two nations?

Ironical, eh?

Nikita Khrushchev to Ezra Taft Benson: Slowly you will succumb to socialism…
November 6, 2008, 5:19 pm
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“I have talked face to face with the godless communist leaders. It may surprise you to learn that I was host to Mr. Khrushchev for a half day when he visited the United States, not that I’m proud of it. I opposed his coming then, and I still feel it was a mistake to welcome this atheistic murderer as a state visitor. But, according to President Eisenhower, Khrushchev had expressed a desire to learn something of American Agriculture — and after seeing Russian agriculture I can understand why. As we talked face to face, he indicated that my grandchildren would live under communism. After assuring him that I expected to do all in my power to assure that his and all other grandchildren will live under freedom he arrogantly declared in substance:

“ ‘You Americans are so gullible. No, you won’t accept communism outright, but we’ll keep feeding you small doses of socialism until you’ll finally wake up and find you already have communism. We won’t have to fight you. We’ll so weaken your economy until you’ll fall like overripe fruit into our hands.’”

Darn right nearly prophetic, ain’t it?

WHAT JUST HAPPENED? The Complacency of the Democrats in the Housing Meltdown
October 6, 2008, 11:35 pm
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Oh yea.

I believe in free market capitalism but…
September 30, 2008, 2:00 pm
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Like many Americans, I’m at a loss as to what is the best course of action to get our economy out of this mess.  I cringe when I read/hear some of the details about several of the proposed solutions flying around.

Some of the proposed “powers” (read: “unconstitutional”) that seem to be intended for the Treasury Secretary include the ability for the secretary to attempt to restore liquidity to the markets.  As El Rushbo said, this plan brings two words to mind:

“Central planning.”

I am inclined to stick to my free market guns and just “let the market work itself out.”

Ace commenter Ella notes that most depressions last 4 years or so at best and in 5 years, the US will be back on track, sans the socialist intervention.

The short term will suck, but the long term is still fine. There’s a difference between mono and cancer.

But when even non-alarmist types like Steve Forbes are sweating, I begin to wonder:

“I’ve never been an alarmist…I’ve never seen a situation as dark as it is today…people genuinely don’t understand the magnitude of what is before us.”

Jawa blogger Ragnar frames it nicely – The Bailout : I’m at a Loss

A whole lot of folks I’ve always trusted as staunch free marketeers are telling us it’s time to put all that “nice theory” aside and accept that massive government intervention is an “unpleasant reality” if we’re even going to HAVE a market system tomorrow.

I feel a little bit like I might feel if my pastor advised me on the sly to visit the mosque every once in a while–ya know, just in case this whole “Jesus” thing doesn’t end up panning out.

These times call for the optimism of President Reagan:

“Can we solve the problems confronting us? Well the answer is an unequivocal and emphatic ‘Yes.’

[This crisis] does require, however, our best effort and our willingness to believe in ourselves and to believe in our capacity to perform great deeds, to believe that together with God’s help we can and will resolve the problems which now confront us.

And after all, why shouldn’t we believe that? We are Americans.

Germany’s Die Welt on the current American financial crisis
September 18, 2008, 5:23 pm
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Spot. On.

“Greed is the theme that resonates with both the schadenfreude of the outsider and the remorse of the insider. The words of the apostle Paul are appropriate: ‘Money is the root of all evil.’ … Max Weber, the great German sociologist of the beginning of the 20th century, argued that American dynamism was the product of the Puritan ethic and the spirit of capitalism, together forming an accord for worldly success for God’s chosen people. First came the mortgage crisis in which first class banks mistook mountains of clouds for stable floors. Then came the banking crisis, which destroyed confidence. And in addition people were seduced by tricks made possible with computers. These are all trials and crises, but they will not spell the end of America’s distinctiveness.”

“The country will never convert to socialism, nor will it become a mega-state. Faced with similar circumstances, that might be the response of the pessimistic Europeans. America’s culture of optimism — which all too often gets on the Europeans’ nerves because they consider it to be naïve and superficial — also has the power to identify a setback as exactly that and not the end of the world.

Source: Spiegel Online International (“A Crisis, But Not The End of The World“) quoting Die Welt.