Wednesday, February 18, 2009

Obama Wants Swedish Model

No, Obama is not dumping Michelle Obama for Victoria Silvstedt (although it'd be a smart move). What is going on here is that Obama is contemplating dumping America's capitalism for Sweden's socialism and nationalization of banks.

From The UK's Financial Times:

Barack Obama, the president, who has tried to avoid panicking lawmakers and markets by entertaining the idea, has moved more towards what he calls the “Swedish model” – an approach backed strongly by Mr Graham. In the early 1990s Sweden nationalised its banking sector then auctioned banks having cleaned up balance sheets. “In limited circumstances the Swedish model makes sense for the US,” says Mr Graham.

Mr Obama last weekend made clear he was leaning more towards the Swedish model than to the piecemeal approach taken in Japan, which many would argue is the direction US public policy appears to be heading.

Even RePUBEics like Goober Lindsey Graham and John McLame had forgotten what the free market is about. Granted they didn't vote on the Rape The Economy Act of 2009 but this is just as bad. Even just toying around with the concept has the private sector in a panic.

As the economy spirals down towards ruin, any attempt to build it back up is deterred to make the federal government more powerful and to keep Americans dependent on Big Daddy Gub'Mint. Guess which political party this is going to keep in power for decades to come? Just ask the people of Venezuela what happens under nationalized everything.

Hat tip to Six Meat Buffet for the Goober vid.

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