In case you had any doubts as to where the Obama Administration is heading, Timothy Geithner spells it out:  Geithner: Markets won’t solve crisis

“The markets will not solve it,” he said in an appearance on ABC’s “This Week.”

“The great risk for us is we do too little, not too much.”

There’s a lot more at the link, but to my mind those two sentences sum up the Obama philosphy.  And I don’t for one minute think they’ll stop at the financial sector.

Didn’t Michelle Obama say something during the campaign about how Barack is going to challenge us, and involve us?  She was speaking the literal truth:

“We want to end this pattern of having booms and busts,” he[Geithner] said.

Geithner said that after the crisis is over, “people are going to care less about what they make, more about what they do. What they achieve is what they make. And that will help make this country stronger.”

The level of economic ignorance is astounding.  No more booms and busts, formerly known as normal economic cycles?  The only way that happens is to have a severely-centralized economy.  No booms, but they always go bust eventually.  And what will be left to fuel a recovery under this grand vision?  There’s no answer.  There never is.  Fiddle-dee-dee, tomorrow is another day.

“What they achieve is what they make.”  An expansion of the idea that virtue is its own reward with a lefty twist, I suppose. So, does that mean the bank will accept my feelings of self-satisfaction because I’m a good person as payment for my mortgage?  That and $5 will get me a cup of Starbucks.

Time to go gulching.

Thanks to Lucianne

Update:

In stark contrast to the Obama plan to transform our culture by making your virtue everyone else’s reward, Mark Steyn deals with change that is real:  Obama’s False Choice
A “chaotic and unforgiving capitalism” is exactly what we need right now.

Writing in the Chicago Tribune last week, President Obama fell back on one of his favorite rhetorical tics: “But I also know,” he wrote, “that we need not choose between a chaotic and unforgiving capitalism and an oppressive government-run economy. That is a false choice that will not serve our people or any people.”

Really? For the moment, it’s a “false choice” mainly in the sense that he’s not offering it: “a chaotic and unforgiving capitalism” is not on the menu, which leaves “an oppressive government-run economy” as pretty much the only game in town. How oppressive is yet to be determined: To be sure, the official position remains that only “the richest five percent” will have taxes increased. But you’ll be surprised at the percentage of Americans who wind up in the richest five percent.

You can’t run and you can’t hide if Obama has his way:

And don’t plan on moving. Ahead of this week’s G20 summit in London, Timothy Geithner, America’s beloved Toxic Asset, called for “global regulation.” “Our hope,” said Toxic Tim, “is that we can work with Europe on a global framework, a global infrastructure which has appropriate global oversight . . . ”

…“We can’t,” he continued, “allow institutions to cherry pick among competing regulators and ship risk to where it faces the lowest standards and weakest constraints . . . ”

…If you listen to the principal spokesmen for U.S. economic policy — Obama and Geithner — they grow daily ever more explicitly hostile to the private sector and ever more comfortable with the language of micro-managed government-approved capitalism — which, of course, isn’t capitalism at all. They’ll have an easier time getting away with it in a world of “global oversight” where there’s nowhere to move to. Unfortunately, even then it won’t work. Think about it: It takes extraordinary skill to create and manage a billion-dollar company; there are very few human beings on the planet who can do it. Now look at Obama and Geithner, the two men currently “managing” more money than any individuals in human history: not billions, but trillions.

Steyn concludes:

In their first two months, Obama and Geithner have done nothing but vaporize your wealth, and your children’s future. What began as an economic crisis is now principally a political usurpation. And, to return to the president’s “false choice,” that “chaotic and unforgiving capitalism” is exactly what we need right now. It’s the quickest, cheapest, fairest, most-efficient route to economic stabilization and renewal. A regimented and eternally forgiving global command economy with no moral hazard will destroy us all.

I’ll take wild and crazy capitalism over Obama’s forced “transformation” as described above any day.

Thanks to Protein Wisdom for that ray of sunshine on this gloomy blogging day

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