Obama’s Economic Poison

The Rocky Mountain News reports:

The Democratic presidential nominee described a six-point plan that would subject all financial institutions that can borrow from the government to more oversight and crack down on trading practices he said border on market manipulation. Such action is needed to repair America’s faltering confidence in housing and financial institutions, Obama said.

However, as Yaron Brook points out, the cause of the current economic crisis is a large set of misguided economic controls.

It is the government’s job to protect individual rights, not micromanage the economy. The government must prevent force and fraud, and otherwise leave people to interact voluntarily.

Barack Obama’s economic socialism is rather like drinking cyanide to get over the cold or flu.

Update: As Myrhaf points out, the McCain camp is hardly better:

How can conservatives listen to Sarah Palin and think she is on the side of freedom? She is every bit as ignorant of economics and every bit the statist nightmare that John McCain is. Watch her speak in Colorado as she promises to continues the trend of expanding regulations and persecuting CEO’s. Because management has not run companies “responsibly,” this fascist wants to stop “multi-million dollar payouts and golden parachutes to CEO’s who break the public trust.” She is promising non-objective law and greater intervention in the economy. Her ideas will not solve the problem, which is too much government regulations in the first place.

The coming McCain/Palin administration will be bad for America. Four years from now we will all be a little more enslaved than we are now.

But “fascist?” Come on, Myrhaf — Palin merely wants state control of the nominally private economy.