As a Capitalist, who has been playing by Capitalist rules for all of my adult life, I certainly hope not. Good lord, I thought it was just the rantings of Chris Matthews and the delusions of grandeur practiced only by the "Intelligensia". However now I find real evidence. Now I find real evidence of the Government REALLY getting involved in the actual ebb and flow of the markets.
In today's WSJ, in a piece titled, "Bailed Out Banks Face Probe Over Fee Hikes" we see true, ground level evidence. The piece describes how the committee overseeing Banking Regulation is going to look into complaints about banks raising fees and interest rates as the economy starts to recover. As if the banks raising interest rates was some sort of evil plot to profit from the Recession and their bail out packages.
Anyone working in finance, or even respecting the markets in any way, would know that raising interest rates is the proper response to pricing power. A tightening of money supply. We have seen recent strength in the economy and this is almost a knee jerk reaction by banks. This is a basic market ebb and flow. And our Government is creating it's own tributary of ignorance and meddle.
But I guess this is how it happens. No one sticks a sign in the ground and says "We are now Socialists.". It creeps in. It creates tributaries of ignorance and meddle and confounds the Capitalist system it is infecting. As more of this evidence mounts, those of us who can never live within the bounds of this type of second guessing and fear mongering must begin to stand up and reject it. Write a blog, start a business, BE A CAPITALIST!
