Captains of Today's Titanics

NatureDriven

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"If politicians were to act more like farmers and entrepreneurs, the people would be far better off."

Captains of Today's Titanics

The captain of the Titanic set a course for his ship through a known ice field, with the hope that it would not hit anything and cross the Atlantic in record time. The Congress of the United States created two government-sponsored mortgage corporations - Fannie Mae and Freddie Mac - which were more lightly regulated than similar financial institutions, with the hope they would expand the pool of mortgages but would not be wrecked during a financial downturn.

The U.S. Congress has greatly restricted drilling for oil in U.S.-controlled territory, restricted the building of new oil refineries, restricted the building of new nuclear power plants, and restricted the burning of coal in power plants, all with the totally unrealistic hope that these actions would neither increase U.S. dependency on foreign energy sources nor lead to major price increases. . .

http://www.cato.org/pub_display.php?pub_id=9560
 

easymoney

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The truth of the matter is, the arrogance of the captain, much like congress, was so great that he ignored the facts and put the destiny of the ship into high gear and steamed forward at full speed thinking he and the ship were invincible...
The similarities are more than striking.
 


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