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Archive for October 11th, 2011

I’m routinely critical of politicians, even the “good” ones that say they want to limit government and promote freedom.

But I think I’ve found a lawmaker who is worthy of strong praise. Unfortunately, he’s not in America.

He is Richard Sulik, the head of the Slovakian parliament and leader of the libertarian-leaning Freedom and Solidarity party.

Along with other members of his party, he is the best hope to block the bailouts that will reward profligacy and dig Europe’s debt hole even deeper.

Here’s some of what the UK-based Telegraph reported about Sulik’s battle for liberty.

European leaders fear that Slovakia’s attempt to block the new bail-out fund is as dangerous as David’s stand against Goliath. But it’s not just the difference in size and power that’s the worry – it’s that Slovakia’s rebel might have “right” on his side.  Slovakia’s hero is Richard Sulik, head of the Freedom and Solidarity Party (SaS) the junior partner in a four-party coalition. He has passionately described Slovakia’s 20-year journey from Communism to the European Union – and the deep national pride of meeting the membership requirements against the odds.  Mr Sulik has articulated the dismay of many that in Greece, Slovakians are faced with a country that bent the rules, rather than sacrificed, to gain entry – and now are demanding their luxuries are maintained by others. The average Slovak, whose salary is lowest in the euro zone, Sulik claims, would have to work 300 extra hours to cover the increase in the country’s guarantees of the EFSF, which will rise from €4.4bn to €7.7bn under the proposed deal. Mr Sulik has been criticised for being nationalistic, but he’s fast-becoming the voice of the discontented European masses.
By the way, the former nation of Czechoslovakia seems to have produced worthy leaders once it split in half. Not only is Sulik worthy of praise in Slovakia, but so are other Slovak lawmakers, and  I’ve already pointed out the President Klaus of the Czech Republic is one of the few people in Europe fighting for freedom.

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I’m not an expert on addiction, but it’s probably safe to assume that one would never treat an alcoholic by giving him more booze. Or treat an addict by giving him more drugs.

So you won’t be surprised to learn that I’m opposed to bailouts. I’m against bailing out banks. I’m against bailing out car companies. I’m against bailing out governments.

And I’m against bailing out international bureaucracies that are running short on cash because they’ve been busy engaging in bailouts, which is the point I make in this Fox News interview.

I wish there was more time in the interview to expand on the issue of corrupt investors and financial institutions that love to make big profits when a bubble is expanding, but want handouts, subsidies, and bailouts when a bubble bursts.

This is why short-term blips in the stock market are not necessarily a good indicator of the economy’s long-run health.

Another point worth making is that failure is (or should be) part of the market process. One of my favorite lines, which I should have used in the interview, is that “capitalism without bankruptcy is like religion without hell.”

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