You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #18: the government steps in [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Two Americas Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-30-08 07:40 AM
Response to Reply #5
18. the government steps in
The government becomes the lender and employer of last resort.

Farmers at one time couldn't afford land and the capital needed each year for operating expenses. The government stepped in and directly solved the problem, so we could all keep eating. Guaranteed loans, work projects, training, subsidies, improved infrastructure, and other supports.

The government did not tell the financial institutions to go hog wild investing in ag property, and then when loans went bad because of an orgy of greed and speculation, make good the losses of the financial institutions and let the framers be thrown off the land and the people go hungry.

The choice was this: protect the financial industry and lose farms or protect the farming industry from the financial industry and the free market. The government did not say that by protecting the financial industry from its own mistakes, that the farmers would somehow be magically helped by that. True, if the farmers had been unable to get credit, they would have gone under and we would have had dogs and cats living together and God knows what sort of meltdown.

Help the banks and destroy the farmers, or help the farmers and rein in the banks and do the job they are unwilling or unable to do. Easy choice. We face the same choice today.

We have solved these problems before, and the only thing standing in the way now is the pernicious and pervasive free market ideology that puts the cart before the horse and has everyone unable to understand or attack the problems directly.
Printer Friendly | Permalink |  | Top
 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC