Anonymous ID: ffbd02 March 23, 2020, 8:15 a.m. No.8531409   🗄️.is 🔗kun   >>1725 >>1837 >>1991 >>2013 >>2056

>>8530925

 

I should have posted the whole Pollack article, rest of it below

 

It is impossible to overstate the courage of this stance

 

During the 2008 financial crisis, the Bush administration rushed to bail out Wall Street — thereby destroying the incentives of the market, creating new moral hazards. Companies that had made risky bets were insulated from the actual consequences of those bets. Wall Street recovered; Main Street did not — at least, not until much later.

 

Bush gave an address in November 2008, after Congress had passed the bailouts, and Barack Obama had won the election. “I’m a market-oriented guy, but not when I’m faced with the prospect of a global meltdown,” Bush said.

 

He added: “[T]he long-term solution to today’s problems is sustained economic growth. And the surest path to that growth is free markets and free people.”

 

But it was far too late for that.

 

Bush threw free market principles overboard to bail out Wall Street. Trump, in contrast, is sticking to free market principles while coming to the aid of Main Street.

 

No one would confuse Trump’s philosophy with a minimalist, purely libertarian approach. He is about to pump trillions of dollars of emergency stimulus into the economy — if all goes well.

 

But he is not doing what the media, and the left, want him to do: to set the dangerous precedent of state control of the economy, when he can still do otherwise.

 

He is standing up for freedom during a crisis, not after a crisis — because he knows the private sector works best

 

https://www.breitbart.com/economy/2020/03/23/pollak-donald-trump-corrects-george-w-bushs-greatest-economic-mistake/