To bail or not to bail—that is the question: Whether ‘tis nobler in the mind to suffer…or reward failure? David Brooks once wrote a book entitled On Paradise Drive. It was an interesting portrait of Americans and the qualities that make them…uniquely American. The centerpiece and essence of our portrait, according to Brooks, has always been that we are driven to succeed with a work ethic second to none.
I wonder how the sequel would read if written today. Paradise Drive was published in June of 2005…not exactly ancient history, but at the time we could count world famous bail outs on one hand and have fingers left over! I only remember the Savings & Loans crisis and the Chrysler bail out that made Iacocca a TV star.
Then came the most historical line in the sand ever…September 15th, 2008. On one side of the line lay the virtues of the American Spirit…entrepreneurialism, risk/reward, merit and their offspring, innovation. And on the other, the seed of her demise…entitlement. And the guardian of entitlement and greatest beneficiary of the new world order my friends…the Unions. It seems we’ve moved from Paradise Drive to the State of the Unions!
Who has benefited more from the government take over’s of GM and Health Care than the unions http://www.washingtontimes.com/news/2010/nov/25/gms-union-on-road-to-recovery-after-stock-sale/ ? Who is the greatest sponsor of the present unrest in Europe, causing people to take to the streets in violent protest? Who is the greatest fan of “QE2”, the government’s latest version of the money tree? (You know, the one our parents told us didn’t exist…THEY LIED!) You guessed it….the unions!
Months ago, Greece considered having to sell…the Greek Islands! Today Ireland gives up what for her very survival? Tomorrow….Spain, Portugal? These are economic saplings in the world forest. When California the 8th largest economy in the world falls, we shall hear a different sound. She is very close…you can already hear the stress cracks. The “Something for Nothing” crowd has come calling folks. The world owes them and they want it now!
“We contend that for a nation to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”- Winston Churchill
Oh yes, nearly forgot…Our wise president sent Mr. Churchill back to England. I’d almost wager there’s a bust of Andy Stern sitting in his place.