Friday, July 19, 2013

Socialism

America's crumbling water infrastructure. This highlights the inability of socialists, no matter how intelligent and benevolent, to perform economic planning because they have no prices or profits to guide them.

Obama refused to bail out Detroit .
"For all of the invective launched by President Obama and his campaign against challenger Mitt Romney last year for having argued for structured bankruptcy for the city’s Big Three automakers, in the end, the most liberal, most pro-union president since LBJ opted to take Romney’s advice when it came to the city itself."
This is a good reminder that there's no difference between the parties. In this case, both would have done the right thing. This article confirms that Detroit is the biggest municipal bankruptcy ever in the US. People are acting like this is bad for the city. It's good for the city. It's only bad for the city's rulers.

Note to Biden. Government can't help Detroit. Government ruined Detroit.

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