No, it's not an Onion story or some other parody- it's real news:
President George W. Bush today urged leaders of the world's biggest economies not to abandon free- market capitalism as they seek an escape from the financial crisis, calling it the "best system'' for delivering growth.
It'd be like Arthur Andersen defending sound accounting principles and squeaky clean business ethics practices. Here's a man who has spent eight years poo-pooing all over the free market, expanding government power, spending, influence, and intervention in our lives to unprecedented levels in United States history, and who recently signed the $700 billion finance industry bailout bill... and he's speaking on behalf of free market capitalism? Get real!
This is either an example of political posturing or he's being earnest. If it's political posturing, then I'm not too shocked- he's just lying like most politicians do (but that is still rather brazen). If he's being earnest, then I'm actually a little surprised. That would mean that even the President of the United States of America has no clue what capitalism really is or what free markets really look like. The level of ignorance regarding economics is really that bad- a depressing thought. We've got work to do!
I also want to add that I'm a little irritated at President Bush over this. Speaking out in defense of capitalism might give people the impression that Bush's policies are representative of it, which will make them abhor capitalism, when what they really abhor is Bush's mixed-market, quasi-socialistic, economic interventionism. This is just one more thing to confuse an already very confused electorate about what free market capitalism really is. Putting his name on anything is not a good way for George W. Bush to sell it these days. Crap.