The old adage “Everyone’s a capitalist on the way up and a socialist on the way down" is kicking in. The thing is, if you’re a socialist on the way down, you were never really a capitalist on the way up. Capitalism requires putting your own capital at risk. What we do have is a grand adhocracy where “government," a.k.a. Barack Obama, Timothy Geithner, Nancy Pelosi, and a dozen others, will figure everything out as they go. Businesses will rise or fall based on their skill at kissing up to the government. And as sure as shinola, when government fails again, we’ll be told that only government can save us.
