Sunday, October 12, 2008

Muslim economics?

Enemies of capitalism, including muslim clerics, are now describing America's financial debacle as a failure of the free market system.
It is no such thing.
Instead of capitalism's failure, the debacle is a huge success for capitalism's home-grown enemies.
For 30 years leftist Democrats, recently including Barack Obama, have rained blow after blow against the free market in home mortgages. They subverted the market in the service of social engineering. They made it possible for more and more bad credit risks to get mortgages.
When the badness of those mortgages became manifest, the financial system collapsed under the strain.
If the free market had been allowed to work, thsoe bad mortgages would not have happened.
It is especially rich that muslims are now suggesting that America should try the muslim economic system as a replacement. We already have. Al Capone invented it. Muslims stole it from Al Capone, and probably didn't even pay royalties.

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