Exposing the madness wehind current economic thought

Monday, July 29, 2013

"We" didn't save the auto industry.

Obama in his speech on the economy at Knox College in Galesburg, Ill.:

"Together, we saved the auto industry."

Robert Wenzel sets him straight:

Government intervention to prop up failing businesses is not free market. A free market is a profit and loss system. Not a system where losers are bailed out by forcefully taking tax money from the general public.