Wednesday, February 18, 2009

Mama Mia, how can we resist you?

The economy stinks.

The latest fix-it-all plan being bandied about is termed the:


Swedish Model of Bank Nationalization.

Bank nationalization is either paradise for advocates of social democracy or pure lefty hell if you're a capitalist.

Why the Swedish Model? Well, apparently little ole Sweden suffered its own economic collapse in the '90s and rescued itself through nationalization of the banks. That's debatable and may or may not be true. And, may or may not be relevant. After all, Sweden's GDP is only equal to about New Jersey's GDP...nothing close to the whole US of A.

Personally, I don't see how our government that can't even run its own three branches efficiently thinks it's going to operate more than 8000 banks. Can you imagine Maxine Waters as a loan officer? Lindsay Graham plotting long-term financial strategy? How about Nancy Pelosi deciding where to invest your IRA?

Still, I like the idea of following a Swedish Model. I like Sweden. I've been thinking about some of the other good things Sweden's brought to the world:

Ikea
Abba
Volvos and Saabs
Vikings {the real ones, not the Minnesotans}
Bjorn Borg
Swedish words like: smorgasbord, tungsten, and ombudsman
No wars for more than 200 years
Alfred Nobel
Greta Garbo
Swedish meatballs
Swedish massages

And the list goes on.

Alas. We'll have to take the bad with the good. Sweden also has 25% unemployment and the highest tax rate in the world.