Wednesday, February 18, 2009

Is it Putin or Goldwater?

"We must not revert to isolationism and unrestrained economic egotism... Excessive intervention in economic activity and blind faith in the state's omnipotence is another possible mistake. True, the state's increased role in times of crisis is a natural reaction to market setbacks. Instead of streamlining market mechanisms, some are tempted to expand state economic intervention to the greatest possible extent... In the 20th century, the Soviet Union made the state's role absolute. In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated."

Russian Prime Minister Vladamir Putin Opening ceremony of the World Economic Forum in Davos, SwitzerlandJanuary 28, 2009

Now the leader of Russia, a former KGB Zarr, sounds more like Michael Steel than a former player in the "Evil Empire". It's sad to say, but he's making more sense, touting the capitalist system than even some high GOP leaders sound. I take him with a gran of salt, but what he says makes better sense that the bill signed yesterday by Pres. Obama. We've never spent our way out of anything, and we never, ever will.

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