Our Own Public Zimbabwe
January 29th, 2009The Obama administration wasn’t a week old before members of it began uttering the “N” word.
That’s right — “Nationalization.”
The great new economic team — headed by the man who proudly believes fiscal responsibility begins at home — is strongly considering nationalizing the entire banking sector, realizing that the only way to truly “rescue” something is to swallow it, much like a lion rescues a starving doe.
And just as a lion is also compelled to rescue a not-so-starving doe, the government must nationalize healthy banks in addition to the unhealthy ones. And they’ll have no right to complain, as who asked them to act responsibly? Certainly not the government. We must take the good with the bad, especially when their good assets will offset the other banks’ bad ones.
Of course, the government can’t and won’t confiscate anyone’s property. That would be un-American. That would be stealing. But just as the colonialists voluntarily gave up their lands in Zimbabwe, and as the kulaks before them gave up theirs in the former Soviet Union, for the betterment of all, so will the banks willingly give up their property. Even if we must organize mass protests to make these moneyed interests see right; or should I say, left. Even if we have to picket their workplaces and homes and houses of worship. Even if we have to rehabilitate them.
Once we’ve rescued the banking system, we’ll soon face another problem. There’s too many banks — all competing with each other for no good reason. As with health care, it is always better to have one source for everything, as competition causes stress and hurt feelings, and makes people work too hard. We must, therefore, establish a single-payer bank.
This bank will be a different and a better kind of bank. Money henceforth will be given to those who need it, in any quantity requested, without the need for collateral of any kind. We’ll simply trust them to pay it back. And they’ll do it. They’ll do it not because they are coerced to do so — they’ll do it for the good of society. And if for some odd reason they’re unable to pay the money back, no worry. We’ll just print some more.
To that end, we must also nationalize the Federal Reserve, just as we nationalized those other quasi-independent entities, Fannie Mae and Freddie Mac. No one complained then and no one will complain now.
We elected Obama and his merry band of postpartisans to fix our economy. They can’t do this if they don’t control the means of creating money. Do you think Dr. Mugabe allows the Bank of Zimbabwe to tell him when to print money and how much to print? Of course, not. And neither should the Federal Reserve tell Obama.
If you want economic stimulation, just wait until those dollars come off the presses. Money will flow through the economy like never before, and the price of everything will stimulate.
And our own public Zimbabwe will come one step closer to reality.
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© Copyright 2009 by Colin Cohen. All Rights Reserved.
January 29th, 2009 at 9:31 am
Obama is Mugabe Lite. Same Socialist Taste, Less Filling.