My memento of the Bear Stearns collapse
I've previously blogged here and here about encountering LaRouchers. The one thing they did get right is opposing the bailout. But look at their insanity on these completely unrelated signs! Sadly, it isn't just ex-con Lyndon LaRouche and his followers who believe that government must "rebuild" U.S. industries. Plenty of Republicans and Democrats also believe that the government must "do something" to "revitalize" or "stimulate" the economy. They don't even differ much on which industry or industries should get "help."
But LaRouche is about the biggest nutjob of them all. He wants to revert the United States to early 20th century, if not 19th century technology. Railroads? Steel? Water power? It goes without saying, as Bastiat would remind us, that with every dollar the government takes from us to spend on industries we don't support as consumers, the rest of us in the private sector have a dollar less to spend on modern industries we do like: computers, media, airlines, etc. When we have the freedom to save and spend as we see fit, the natural outcome is that the most desired and/or most efficient goods and services will survive.