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Congress in Action: At least Cuba looks good

Posted April 2, 2008

“The island still has a long ways to go before freedom is declared, but this is a monumental step in the right direction.  Investors should take note.” - Andrew Snyder

By Andrew Snyder

Baltimore (TFN)– Something is not right here.  Cuba is looking more capitalistic than America.  While our government is chastising Big Oil for making money and the Federal Reserve is using taxpayer money to bail out their banking buddies, Cuba is tearing down former economic barriers.  It is like the earth has tilted from her axis and everything is backwards.

Let’s start with Cuba.  Apparently Raul Castro is one of those rare dictators (or even any politician) that makes good on his word.  He promised change and that is what his people are getting.  Just yesterday the new president opened the country’s doors to major progress.

Cubans are now allowed to use cell phones.  They can stay in hotels.  They can own home electronics like DVD players and kitchen appliances.  And most importantly, the Cuban government is lending unused state land to farmers.  The economy will surge.

The island still has a long ways to go before freedom is declared, but this is a monumental step in the right direction.  Investors should take note.

We ain’t Cuba

Unfortunately, the United States is moving in a different direction.  Can you tell we have a democrat-controlled congress? 

The nation’s large oil companies flew their private jets to Washington yesterday to answer some questions that are considered unusual for a free-market society. Congress wanted to know why Big Oil is raking in so much money when consumers are paying an arm and a leg at the pump. 

How come nobody is hanging Starbucks for that $4.75 latte I had on Sunday?  That’s the real crime. 

The House committee grilling the oil companies yesterday wants to know why the industry continues to receive huge tax breaks while profits make new records.  The real question should be why is Big Oil forced overseas to look for opportunities to expand its oil supply. If Congress is truly concerned with high gas prices (and not just with looking good in the eyes of voters), it would open up the nation’s coasts to oil and gas exploration. 

Washington is expecting companies like Exxon, Shell, and BP to fund the nation’s alternative energy research, yet it is willing to pickpocket the same companies the instant they begin to see the fruit of their labor.  It doesn’t make sense.  Maybe Castro quit running Cuba because he got a job in Washington.

At least they won’t die alone

As if a lousy attempt to manipulate the oil markets is not enough, the government is giving the Federal Reserve more power over the banking industry.  Instead of relegating the power to the organizations created to oversee the nation’s investment banks, the Fed is crossing its boundaries to be the new Wall Street traffic cop.  So long checks and balances. 

It is true without the recent help of the Fed, America’s banking industry would be in the toilet (or even further down the sewer line), but isn’t a free market what this country is all about?  If I run my business into the ground because of bad decisions, I don’t expect Bernanke to write me a big taxpayer-funded check.  Why should some bank that tried a flimsy get-rich-quick scheme get a reprieve? 

By sticking out a helping hand and lowering its own lending standards, the Fed left the sidelines and jumped into the nation’s credit mess head first.  Eventually, it will all come crashing down.  Wall Street banks lost hundreds of billions of dollars.  That kind of mess does not disappear overnight.  Haven’t we learned enough times that government intervention never helps a free market? 

I do not know what has gotten into this country, but it is looking less and less capitalistic every time I turn on the news.  When Cuba is setting its people free and America is punishing them for getting rich, we have some very serious issues.

At least they are making money in Cuba. 


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Posted by Andrew Snyder · Filed Under Politics 

Comments

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    Regulation is far from communism, far from socialism, and is what only spoiled brats complain about. Read Time magazine's latest article on biofuels and the commodities market. It's a perfect example of how an uncontrolled market will destroy us, that is you and me. It comes down simply to common sense. Some markets need to be regulated. Healthcare - you can't market a heart transplant. Energy and food - the earth has a capacity, no denying it. Some markets don't need to be regulated. Education - if you can't teach, then your institution will suffer. The Press, if you put out asinine articles, then only imbeciles will regard you as credible.
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