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America: Crisis and a Command Economy

Banks? Bankrupt and under government control.

Domestic Auto Companies? Bankrupt and under government control.

Plan for Domestic Auto Companies? Turn over ownership to union workers, make small, expensive, high mile per gallon cars that won't sell.

Energy Policy? No coal. No drilling for oil. No nuclear. Tax gasoline, oil, and natural gas such that it is too expensive to drive, or heat your home.

Credit Card Crisis? Dictate terms that prevent banks from managing risk effectively on credit cards. Result, banks will not extend credit as they once did, and this credit contraction will prolong and intensify the recession.

Health Care Crisis? Nationalize a bigger chunk of health care, reduce payments to doctors and hospitals, and tax health care benefits as ordinary income. Result? Doctors retiring and hospitals shutting down. Higher taxes.

Cap and Trade: An enormous tax on the usage and production of hydrocarbon fuels. Driving energy intensive industries out of the US prior to its implemtation, it's a job killer.

Solution for runaway government spending? Fund the deficit spending by having the Federal Reserve buy the Bonds issued by the Treasury, flooding the world with US Dollars.

California with a 20+ billion dollar deficit? Raise taxes? Nope. Cut spending? Nope. Bankruptcy?

A dollar crisis awaits.

Long UDN and DBO.