A Voice Of Stupidity On CNBC
Following up my latest CNBC video, I heard this in my car today and had to post it. Jim Cramer calling for a bigger role in government from Bush’s “wild west” like laissez-faire economy.
This is the biggest problem with our country today. People think that the Freddie/Fannie/auto bail-out/step outside the free market to save the free market economy that we had under George W. Bush was a free market, or like Cramer says, laissez-faire.
In economics, Laissez-faire (English pronunciation: /ˌlɛseɪˈfɛər/ ( listen), French: [lɛsefɛʁ] ( listen)) means allowing industry to be free of government restriction, especially restrictions in the form of tariffs and government monopolies. The phrase is French and literally means “let do,” though it broadly implies “let it be” or “leave it alone.”
Again, Bush’s economy was not laissez-faire.
Thoughts? Please add your input if you disagree.