Liberty Maven

Tonight the Motherland U.S. Federal Government announced an $85 billion bailout of formerly private insurance company AIG. Quite laughably, the government is terming the bailout a “loan”. This is really starting to get interesting.

Make no mistake this is more money out of your pocket. When will it stop?

This effectively nationalizes AIG as the government now owns about 80% of the company.

One of my favorite songs by a now defunct band named “Soul Coughing” is called “How Many Cans?” The lyric goes like this:

How many cans must I stack up
To wash you out of my mind,
Out of my consciousness?
How many times must I cash out
To bring you back the check, fat
Off of my slenderness?

At some point all of these stacked cans of bailout madness are going to come crashing down right on top of us. Will it be in the form of total American socialism or fascism?

Treasury Secretary Paulson said that he didn’t once consider using tax payer money to bail out Lehman Brothers yesterday. I think we now know that that was a complete lie. Not that it was very convincing in the first place.

Every time the Federal Reserve makes a move to inflate it is subtracting value from every dollar you own. Most of us just bend over and take it like good upstanding patriotic citizens. To be fair most of us don’t even know it is happening. Inevitably I go back to my favorite and now most appropriate H.L. Mencken quote:

“Democracy is the theory that the common people know what they want and deserve to get it good and hard.”

I think that sums it up best. For detailed information on the AIG bailout see the AP article here.