In Back to the Future Part II, Sowell starts out talking about how some people are hoping that Obama’s program are going to save us and others are hoping the Republican plan will save us; but then he has this to say:
Almost nobody seems to be hoping that the government will leave the economy alone to recover on its own. Indeed, almost nobody seems at all interested in looking at the hard facts about what happens when the government leaves the economy alone, compared to what happens when politicians intervene.
Think about those words, my friends, there is some heavy-duty wisdom in that short paragraph. This is what the title of this post is referring to. Our government started doing in a big way in the early 1900’s. Dr.Sowell makes an analogy to eating potato chips; you can’t eat just one. And that is the way it has been with our government and their intervening in the economy to achieve a multitude of different ends. Government its seems can’t help itself from trying to improve upon the free market system. They never undo any of their previous doings. They just keep adding to their doings. The result of all this doing is they are finally drying up spring of wealth they depend on for all their doings.
Latter on in Part II, Sowell talks about the Great Depression:
The grand myth that has been taught to whole generations is that the government is “forced” to intervene in the economy when there is a downturn that leaves millions of people suffering. The classic example is the Great Depression of the 1930s.
What most people are unaware of is that there was no Great Depression until AFTER politicians started intervening in the economy.
There was a stock market crash in October 1929 and unemployment shot up to 9 percent — for one month. Then unemployment started drifting back down until it was 6.3 percent in June 1930, when the first major federal intervention took place.
Please read the rest of what Dr. Sowell has to say about the Great Depression. It will sound to you very much like what Obama and the Democrats are wanting to do now. Be sure to read the examples of how well doing nothing has worked in the past.
Folks, we have to find a way to get Government to not only stop doing more but to stop doing what it is already doing. As I said earlier, the spring of wealth is drying-up. And now I’ll leave you with a music video that I think is apropos:
Well, that’s what I’m thinking. What are your thoughts?