The good news is that an Obama victory is already priced in.
By George Newman
October 29, 2008
A lot has been said about the causes of the drastic drops -- and extreme volatility -- in stock prices and the impending recession. Blame has been heaped on low interest rates and dubious mortgage practices, and on the subsequent collapse of real-estate prices and the freeze in financial markets. But one other major factor has largely escaped attention.
To state the obvious: The valuation of an individual stock reflects the collective expectation of investors about a company's future profits, dividends and appreciation, and the same is true of the market as a whole. These profits, in turn, are greatly influenced by government policy on taxes, spending, subsidies, environmental and other regulations, labor laws, and the corporate legal climate. Investors have heard enough from both candidates in the last month or two to conclude that prospects for a flourishing, competitive, growing and reasonably free economy in a McCain administration are bad, and in an Obama administration far worse. (In fact, the market's bearish behavior over the last couple of months pretty closely tracks Barack Obama's gains.)
If you don't believe me, please answer a few questions:
- Have you thought of what a gradual doubling (and indexation) of the minimum wage, sailing through a veto-proof and filibuster-proof Congress, would do to inflation, unemployment and corporate profits? The market now has.
- Have you thought of how easily a Labor Department headed by a militant union boss would push through a "Transparency in Labor Relations" law that does away with secret ballots in strike votes, and what this would do to industrial peace? The market now has.
- Have you thought of how a Treasury Secretary George Soros would engineer the double taxation of the multinationals' world-wide profits, and what this would mean for investors (to say nothing of full-scale industrial flight from the U.S.)? The market now has.
- Have you thought of how an Attorney General Charles J. Ogletree would champion a trillion-dollar reparations-for-slavery project (whittled down, to be fair, to a mere $800-billion, over-10-years compromise), and what this would do to the economy? The market now has.
- Have you thought of what the virtual outlawing of arbitration -- exposing all industries to the fate of asbestos producers -- would do to corporate liability and legal bills? The market now has.
- Have you thought of how a Health and Human Services Secretary Hillary Clinton would fix drug prices (generously allowing 10% over the cost of raw materials), and what this would do to the financial health of the pharmaceutical industry (not to mention the nondiscovery of lifesaving drugs)? The market now has.
- Have you thought of a Secretary of the newly established Department of Equal Opportunity for Women mandating "comparable worth" pay practices for every company doing any business with government at any level -- where any residual gap between the average pay of men and women is an eo ipso violation? Have you thought about what this would do to administrative and legal costs, hiring practices, productivity and wage bills? The market now has.
- Have you thought of what confiscatory "windfall profits" taxes on oil companies would do to exploration, supply and prices? The market now has.
- Have you thought of how the nationalization of health insurance, the mandated coverage of ever more -- and more exotic -- risks, the forced reimbursement for excluded events, and the diminished freedom to match premium to risk would affect the insurance industry? The market now has.
- Have you thought of Energy Czar Al Gore's five million new green jobs -- high-paying, unionized and subsidized -- to replace, at five times the cost, what we are now producing without those five million workers, and what this will do to our productivity, deficit and competitiveness? The market now has.
I could go on, but you get the point. Nothing reveals Mr. Obama's visceral hostility to business more than the constant urging of our best and brightest to desert the productive private sector ("greed") and go into public service like politics or community organizing (i.e., organizing people to press government for more handouts). Who in his ideal world would bake our bread, make our shoes and computers, and pilot our airplanes is not clear.
And if you think all this comes from an ardent John McCain fan, you couldn't be more wrong. The Arizona Senator has made some terrible mistakes, one of them trying to out-demagogue Mr. Obama to the economic illiterates. This kind of pandering never works. Such populists and other economic illiterates will always go for the genuine article.
Mr. McCain should have asked some simple questions -- pertinent, educational and easily understood by ordinary voters. Such as:
- If the rise in the price of oil from $70 to $140 was due to "greed" (the all-purpose explanation of the other side for every economic problem), was the fall from $140 to $70 due to a sudden outbreak of altruism?
- If a bank is guilty both for rejecting a mortgage ("redlining") and for approving it ("greed" -- see above), how might a bank president keep his business out of trouble with the law?
- If the financial turmoil of the last year or so was caused by inadequate regulation, which party has controlled both Houses of Congress and all of its financial committees and subcommittees (where such regulation would originate) in the last two years?
- If we bemoan the sending of $750 billion a year to our enemies for imported oil, which party has prevented domestic drilling for decades that would have made us more self-sufficient?
- You were unhappy with Congress, and in 2006 you cast your lot with those who, like Mr. Obama now, promised "change." Are you happy with the changes that have taken place in the last two years?
None of these questions have been asked loudly or often enough, while the other message -- everything is bad, it's all Bush's fault, and McCain=Bush -- has sunk in. So given his own penchant for business bashing, a McCain win would merely count as damage control.
The market is forward looking. If it is unhappy with a president, it does not wait almost eight years before the numbers reflect it. If it really anticipated good times under Mr. Obama, the market would have gained 40% in anticipation of the transition. By losing that much, it seems to be saying the opposite.
The silver lining in all this is that the market has already "discounted" an Obama win, so if that happens you won't wake up on Nov. 5 to find your remaining savings down the drain. If the unexpected happens, you may be in for a pleasant surprise.
Mr. Newman is an economist and retired business executive
Wednesday, October 29, 2008
Tuesday, October 28, 2008
CREATIVELY REDISTRIBUTING THE WEALTH
(This Was Written By a POLITICAL OVERDOSE READER)
Here is a creative approach to redistribution of wealth ...
Today, on my way to lunch I passed a homeless guy with a sign that read "Vote Obama, I need the money." I laughed.
Once in the restaurant my server had on a "Obama 08" tie, again I laughed as he had given away his political preference--just imagine the coincidence.
When the bill came I decided not to tip the server and explained to him that I was exploring the Obama redistribution of wealth concept. He stood there in disbelief while I told him that I was going to redistribute his tip to someone who I deemed more in need--the homeless guy outside.
The server angrily stormed from my sight. I went outside, gave the homeless guy $10 and told him to thank the server inside as I've decided he could use the money more.
The homeless guy was grateful.
At the end of my rather unscientific redistribution experiment I realized the homeless guy was grateful for the money he did not earn, but the waiter was pretty angry that I gave away the money he did earn even though the actual recipient deserved money more.
I guess redistribution of wealth is an easier thing to swallow in concept than in practical application.
I couldn't have said it better myself.
Here is a creative approach to redistribution of wealth ...
Today, on my way to lunch I passed a homeless guy with a sign that read "Vote Obama, I need the money." I laughed.
Once in the restaurant my server had on a "Obama 08" tie, again I laughed as he had given away his political preference--just imagine the coincidence.
When the bill came I decided not to tip the server and explained to him that I was exploring the Obama redistribution of wealth concept. He stood there in disbelief while I told him that I was going to redistribute his tip to someone who I deemed more in need--the homeless guy outside.
The server angrily stormed from my sight. I went outside, gave the homeless guy $10 and told him to thank the server inside as I've decided he could use the money more.
The homeless guy was grateful.
At the end of my rather unscientific redistribution experiment I realized the homeless guy was grateful for the money he did not earn, but the waiter was pretty angry that I gave away the money he did earn even though the actual recipient deserved money more.
I guess redistribution of wealth is an easier thing to swallow in concept than in practical application.
I couldn't have said it better myself.
Obama Won't Transcend Race
by Jonah Goldberg
Transcend means "to move beyond, to surpass." At least that's what I always thought. But I'm beginning to wonder whether it means instead: "Much, much more of the same, only this time really stupid."
Exhibit A: the incessant, relentless, click-your-ruby-red-slippers-and-say-it-until-it-comes-true mantra that Barack Obama will magically cause America to "transcend race." One hears and reads this everywhere, but less as an argument than as a prayer, an expression of faith, a "from my lips to The One's ear" sort of thing.
It is, of course, total and complete nonsense. According to L.B.O. (Logic Before Obama), transcending race would involve making race less of an issue. Passengers on Spaceship Obama would see race shrink and then vanish in the rearview mirror.
Instead, Obama has set off a case of full-blown race dementia among precisely the crowd that swears Obama is leading us out of the racial wilderness. Rather than shrink, the tumor of racial paranoia is metastasizing, pressing down on the medulla oblongata or whatever part of the brain that, when poked, causes one to hallucinate, conjure false memories and write astoundingly insipid things. For instance, a writer for Slate sees racism when anyone notes that Barack Obama is -- wait for it -- skinny. What this portends for Fat Albert is above my pay grade.
We need to rewrite those old Schoolhouse Rock cartoons because now virtually any adjective, noun, verb or adverb aimed at Barack Obama that is not obsequiously sycophantic or wantonly worshipful runs the risk of being decried as racist. Community organizer? Racist! Mentioning his middle name? Racist! Arrogant? Racist! Palling around with a (white) terrorist? Racist! Celebrity? Racist! Cosmopolitan? Racist! This? Racist! That? Racist! The other thing? Oh man, that's really racist.
The new Schoolhouse Rock cartoon: "Conjunction: a word that connects a racist attack and Barack Obama."
This week, an editorial writer for the Kansas City Star denounced John McCain and Sarah Palin for suggesting that Obama is a socialist because he wants to "spread the wealth around." Don't they understand that "socialist" has always been a racist code word used by bigots like J. Edgar Hoover to demonize black activists like W.E.B. Du Bois?
A couple problems: First, as best I can remember, Marx, Engels, Lenin, George Bernard Shaw, Eugene V. Debs, Norman Thomas and Michael Harrington do not usually get a lot of attention during Black History Month. Second, as writer Michael Moynihan recently noted, Du Bois wasn't merely a socialist, he was a Stalinist! (Du Bois was not entirely unsympathetic to the Nazis, either.) Besides, when did "socialist" stop being an anti-Semitic code word for Jew? Maybe when the left started going batty over "neocons." But that's a story for another day.
The idea that Obama was ever really about transcending race flies completely in the face of his own writings. The overarching theme of his book "Dreams From My Father" is the story of man who found it impossible to transcend race and instead explicitly chose to have a racial identity when he didn't have to (he describes fellow multiracial students he met in college as sellouts). He then joined a black church whose theology is shot-through with black nationalism and whose longtime pastor believes that black brains are different from white brains.
But, yes, I know: The above paragraph reads: "Blah, blah, blah ... racist, racism, racey-race-racism."
Now, let us actually transcend race for a moment. Apparently for Obama, "transcend" isn't a racial term so much as a euphemism for declaring victory. He says he wants to "turn the page" on the arguments of the '80s and '90s, by which he means conservatives should stop clinging to their guns and antiquated Sky God and join his cause.
He told Planned Parenthood he wants to stop "arguing about the same ole stuff," by which he means he wants people who disagree with his absolute support for government-funded abortion on demand to shut up already.
He doesn't want to argue about his pals from the Weather Underground who murdered or celebrated the murder of policemen and other Americans; he just wants everyone to agree no one should care.
In short, Obama and his disciples only demand one kind of transcendence from all Americans. We must, as Obama likes to say, unite as one people, one nation, one American family and transcend all of our misgivings about Barack Obama. Then, and only then, will The One fulfill his wife's pledge and fix our broken souls.
Only a racist could possibly disagree.
Jonah Goldberg's e-mail is JonahsColumn@aol.com.
Transcend means "to move beyond, to surpass." At least that's what I always thought. But I'm beginning to wonder whether it means instead: "Much, much more of the same, only this time really stupid."
Exhibit A: the incessant, relentless, click-your-ruby-red-slippers-and-say-it-until-it-comes-true mantra that Barack Obama will magically cause America to "transcend race." One hears and reads this everywhere, but less as an argument than as a prayer, an expression of faith, a "from my lips to The One's ear" sort of thing.
It is, of course, total and complete nonsense. According to L.B.O. (Logic Before Obama), transcending race would involve making race less of an issue. Passengers on Spaceship Obama would see race shrink and then vanish in the rearview mirror.
Instead, Obama has set off a case of full-blown race dementia among precisely the crowd that swears Obama is leading us out of the racial wilderness. Rather than shrink, the tumor of racial paranoia is metastasizing, pressing down on the medulla oblongata or whatever part of the brain that, when poked, causes one to hallucinate, conjure false memories and write astoundingly insipid things. For instance, a writer for Slate sees racism when anyone notes that Barack Obama is -- wait for it -- skinny. What this portends for Fat Albert is above my pay grade.
We need to rewrite those old Schoolhouse Rock cartoons because now virtually any adjective, noun, verb or adverb aimed at Barack Obama that is not obsequiously sycophantic or wantonly worshipful runs the risk of being decried as racist. Community organizer? Racist! Mentioning his middle name? Racist! Arrogant? Racist! Palling around with a (white) terrorist? Racist! Celebrity? Racist! Cosmopolitan? Racist! This? Racist! That? Racist! The other thing? Oh man, that's really racist.
The new Schoolhouse Rock cartoon: "Conjunction: a word that connects a racist attack and Barack Obama."
This week, an editorial writer for the Kansas City Star denounced John McCain and Sarah Palin for suggesting that Obama is a socialist because he wants to "spread the wealth around." Don't they understand that "socialist" has always been a racist code word used by bigots like J. Edgar Hoover to demonize black activists like W.E.B. Du Bois?
A couple problems: First, as best I can remember, Marx, Engels, Lenin, George Bernard Shaw, Eugene V. Debs, Norman Thomas and Michael Harrington do not usually get a lot of attention during Black History Month. Second, as writer Michael Moynihan recently noted, Du Bois wasn't merely a socialist, he was a Stalinist! (Du Bois was not entirely unsympathetic to the Nazis, either.) Besides, when did "socialist" stop being an anti-Semitic code word for Jew? Maybe when the left started going batty over "neocons." But that's a story for another day.
The idea that Obama was ever really about transcending race flies completely in the face of his own writings. The overarching theme of his book "Dreams From My Father" is the story of man who found it impossible to transcend race and instead explicitly chose to have a racial identity when he didn't have to (he describes fellow multiracial students he met in college as sellouts). He then joined a black church whose theology is shot-through with black nationalism and whose longtime pastor believes that black brains are different from white brains.
But, yes, I know: The above paragraph reads: "Blah, blah, blah ... racist, racism, racey-race-racism."
Now, let us actually transcend race for a moment. Apparently for Obama, "transcend" isn't a racial term so much as a euphemism for declaring victory. He says he wants to "turn the page" on the arguments of the '80s and '90s, by which he means conservatives should stop clinging to their guns and antiquated Sky God and join his cause.
He told Planned Parenthood he wants to stop "arguing about the same ole stuff," by which he means he wants people who disagree with his absolute support for government-funded abortion on demand to shut up already.
He doesn't want to argue about his pals from the Weather Underground who murdered or celebrated the murder of policemen and other Americans; he just wants everyone to agree no one should care.
In short, Obama and his disciples only demand one kind of transcendence from all Americans. We must, as Obama likes to say, unite as one people, one nation, one American family and transcend all of our misgivings about Barack Obama. Then, and only then, will The One fulfill his wife's pledge and fix our broken souls.
Only a racist could possibly disagree.
Jonah Goldberg's e-mail is JonahsColumn@aol.com.
Monday, October 27, 2008
Have We Lost Our Minds!?
by Tim Connolly
Well, I don't know about you, but I am desperately looking for the end of the political madness that we have been subjected to for the last two years...with the same seemingly endless debating, political posturing, and phony campaign slogans. "Hope and Change", "Real Change", "Real, Hopeful Change", "Maverick", "Messiah", etc........stop the insanity!
I think that most of us understand that not one of these clowns care even the slightest bit about you or me and have no intention of, once elected, actually doing anything to help the average Americans' life, liberty, or their pursuit of happiness. So, having to listen to them ramble incessantly about how they are better then the next guy and repeat the same manipulated facts as talking points over.....and over....and over.......and over again, has made most of us a bit testy to put it kindly.
Having said that, there is one thing that all this non-sense is good for and that is gauging where we are as a Nation. So, with that in mind I'd like to pose a simple question.
HAVE WE LOST OUR MINDS!?
As we all know by now, most National polls show that Sen. Barack Obama holds a double digit lead over Sen. John McCain in the race to the White House and appears likely to take the election. Umm...Why!? How!? Have we, the American people, completely lost our discernment and any form of common sense?
I am certainly not about to endorse Sen. McCain as he has many of the same 'Big Government' habits. But...Barack Obama? Place the eloquent way he delivers a well written speech to the side. Are we listening to the words? Are we paying attention to what he has been saying? And more importantly, have we taken a good hard look at who this guy is? Are we looking for what he was saying before the national spotlights were on him?
In the world of modern politics, very little can truly be derived concerning the actual belief system of a candidate while they are in campaign mode. You must look for moments captured when their guard was down. When they thought that they were 'amongst friends'. Those are the moments of honesty that can and do tell us the truth about the individual and the convictions that will guide their decisions.
So, let's take a look.
This is a guy who openly campaigns on a economic policy centered around 'wealth redistribution'. As recent as a few weeks ago, He has used the term himself when describing his own beliefs on how the economy should function. Such as in his highly publicized conversation with 'Joe the plumber' when he said, "..when you spread the wealth around, its good for everybody."
But let's look back to what Obama was saying before the national spotlights were on him. In a 2001 interview with a Chicago radio station Barack discusses, in great detail, his views on "the issues of redistribution of wealth and..basic issues of political and economic justice in this society". He goes on to say that, "one of the..tragedies of the civil rights movement was...a tendency to lose track of the political and community organizing and activities on the ground that are able to put together the actual coalitions of power through which you bring about redistributive change".
Did you get all that?
When questioned about such comments, Barack Obama and those in his camp react with a predictable elitist arrogance by spinning it as some uneducated misinterpretation by people unable to see the divinely inspired meaning buried within. It is usually around the time I begin to yell at my TV, "how stupid do you think we are!?", when the ticker at the bottom of the screen reminds me again that he is actually leading in the polls. The question then changes. "Are we that stupid?"
We are not misunderstanding anything. He is telling us exactly who he is.
During the same 2001 interview, Obama also suggested that our Supreme Court needs to, "break free from the essential constraints that were placed by the founding fathers in the Constitution".
What does that mean Barry?
This comment should be of particular interest to 'We The People' considering our next President will appoint at least two Supreme Court Judges within his first term and last I checked, those "constraints" were placed in the Constitution to protect the American people from corrupt, greedy, and power hungry politicians who would run our Nation into the ground without them.
With that understanding, can we please stop sugar coating the facts simply because he is an American? Can we stop running from the truth? Because the truth is, Barack Obama is a Marxist. There, I said it. His economic views as well as his social agenda align evenly with this radical philosophy. (For those of you that don't know, Marxism is the father of Communism.)
Marxism is not a nationality, it is a philosophical and social belief system just like democracy and capitalism. The same way there are democracy loving capitalists in Communist China, there are Marxist-Socialists in America and they are not hard to find. But those who run for political office usually do a better job at disguising it. (Which is a great example of why associations are important.)
All the false outrage and claims of being victimized by dirty smear tactics when confronted with their own radical, and yes, un-American views is nothing but a diversion and a slight of hand. No more then a cheap card trick.
But, don't just take my word for it. If you still think I'm way off base, take a good look at the social and economic philosophies of Communism. Then maybe you can show me where it differs from many of Barack Obama's campaign talking points.
To make the cultish hero worship of this man even more baffling, Barack Obama is a Globalist. Which means that his vision is not only for America, but to see these dangerous, and totalitarian policies implemented on a global scale.
With the overwhelming amount of evidence available, there really can be no excuses if this extremist is elected. All the information we need to make, what should be a very easy choice, has been available and slapping us in the face. Yet he leads heavily in the polls.
It makes me wonder...have we really lost sight of who we are that much?
What portion of our Constitution, or any other document written by our founding fathers, or what example throughout all of history would lead anyone to believe that wealth redistribution, which is a socialist Marxist tenant, is a good idea??
A quick glimpse at the inevitable results of this "brilliant" plan include examples such as: The USSR 1922 - 1991, The Peoples Republic of China 1949-Present, North Korea 1948-present, Cuba 1959-Present, and Vietnam just to name a few. Sounds like a happy bunch doesn't it?
In fact! I'd challenge anyone to go ask a citizen of Venezuela what they think of these very same ideas that are being implemented in their own country under self proclaimed dictator Hugo Chavez.
There has not been one single instance where this Utopian and dangerously misguided ideology has been employed and created anything other than an all consuming, oppressive, and tyrannical government. History tells us everything we need to know in that most of the countries that have adopted Marxist Communism (which, again, is where the concept of wealth redistribution derives) have since abandoned it for a more open and capitalistic style of government. Those that still suffer under this oppressive ideology are out numbered 8 to 1 by those countries who have seen the light. Those that do remain include: Cuba, Venezuela, China, North Korea, and Vietnam. So could someone please explain to me why we are running towards this agenda instead of away from it?
I'd love for someone to show me what I'm missing here!
This radical and deceiving concept of "when you spread the wealth around, it's good for everybody", has been proven throughout history to crush the middle class along with any form of growth (other than that of the government), halt production and innovation, and destroy the individuals drive to succeed. Which is strange because, I mean, who wouldn't want to work their tail off day in and day out to build a business just to have the success and fruits of their labor taken by a corrupt government under the guise of "spreading it around" to those who are (and lets be honest) not willing to make the same sacrifices themselves.
I know that's my American Dream.
Yeah.....riiight.
That is not who we are.
Now is a time like never before in our history when we must stand together and remind each other of who we are as a People. We must remember that We are a blessed Nation with a Divinely inspired system of government that is "of the people, by the people, and for the people". We are a country that produced the greatest economic engine the world had ever seen through small government, individual freedom, self-reliance, and personal responsibility.
We rely on God and each other, not government run welfare and hand-out happy politicians.
When America is at her best, she is a beacon of hope and a reminder of what can be achieved with God given freedoms as the foundation.
That is who we are. Don't ever forget.
These are our roots and the principles that we need now more than ever.
But if we elect Barack Hussein Obama, we will have no room to complain about the consequences, because he told us exactly who he is.
Well, I don't know about you, but I am desperately looking for the end of the political madness that we have been subjected to for the last two years...with the same seemingly endless debating, political posturing, and phony campaign slogans. "Hope and Change", "Real Change", "Real, Hopeful Change", "Maverick", "Messiah", etc........stop the insanity!
I think that most of us understand that not one of these clowns care even the slightest bit about you or me and have no intention of, once elected, actually doing anything to help the average Americans' life, liberty, or their pursuit of happiness. So, having to listen to them ramble incessantly about how they are better then the next guy and repeat the same manipulated facts as talking points over.....and over....and over.......and over again, has made most of us a bit testy to put it kindly.
Having said that, there is one thing that all this non-sense is good for and that is gauging where we are as a Nation. So, with that in mind I'd like to pose a simple question.
HAVE WE LOST OUR MINDS!?
As we all know by now, most National polls show that Sen. Barack Obama holds a double digit lead over Sen. John McCain in the race to the White House and appears likely to take the election. Umm...Why!? How!? Have we, the American people, completely lost our discernment and any form of common sense?
I am certainly not about to endorse Sen. McCain as he has many of the same 'Big Government' habits. But...Barack Obama? Place the eloquent way he delivers a well written speech to the side. Are we listening to the words? Are we paying attention to what he has been saying? And more importantly, have we taken a good hard look at who this guy is? Are we looking for what he was saying before the national spotlights were on him?
In the world of modern politics, very little can truly be derived concerning the actual belief system of a candidate while they are in campaign mode. You must look for moments captured when their guard was down. When they thought that they were 'amongst friends'. Those are the moments of honesty that can and do tell us the truth about the individual and the convictions that will guide their decisions.
So, let's take a look.
This is a guy who openly campaigns on a economic policy centered around 'wealth redistribution'. As recent as a few weeks ago, He has used the term himself when describing his own beliefs on how the economy should function. Such as in his highly publicized conversation with 'Joe the plumber' when he said, "..when you spread the wealth around, its good for everybody."
But let's look back to what Obama was saying before the national spotlights were on him. In a 2001 interview with a Chicago radio station Barack discusses, in great detail, his views on "the issues of redistribution of wealth and..basic issues of political and economic justice in this society". He goes on to say that, "one of the..tragedies of the civil rights movement was...a tendency to lose track of the political and community organizing and activities on the ground that are able to put together the actual coalitions of power through which you bring about redistributive change".
Did you get all that?
When questioned about such comments, Barack Obama and those in his camp react with a predictable elitist arrogance by spinning it as some uneducated misinterpretation by people unable to see the divinely inspired meaning buried within. It is usually around the time I begin to yell at my TV, "how stupid do you think we are!?", when the ticker at the bottom of the screen reminds me again that he is actually leading in the polls. The question then changes. "Are we that stupid?"
We are not misunderstanding anything. He is telling us exactly who he is.
During the same 2001 interview, Obama also suggested that our Supreme Court needs to, "break free from the essential constraints that were placed by the founding fathers in the Constitution".
What does that mean Barry?
This comment should be of particular interest to 'We The People' considering our next President will appoint at least two Supreme Court Judges within his first term and last I checked, those "constraints" were placed in the Constitution to protect the American people from corrupt, greedy, and power hungry politicians who would run our Nation into the ground without them.
With that understanding, can we please stop sugar coating the facts simply because he is an American? Can we stop running from the truth? Because the truth is, Barack Obama is a Marxist. There, I said it. His economic views as well as his social agenda align evenly with this radical philosophy. (For those of you that don't know, Marxism is the father of Communism.)
Marxism is not a nationality, it is a philosophical and social belief system just like democracy and capitalism. The same way there are democracy loving capitalists in Communist China, there are Marxist-Socialists in America and they are not hard to find. But those who run for political office usually do a better job at disguising it. (Which is a great example of why associations are important.)
All the false outrage and claims of being victimized by dirty smear tactics when confronted with their own radical, and yes, un-American views is nothing but a diversion and a slight of hand. No more then a cheap card trick.
But, don't just take my word for it. If you still think I'm way off base, take a good look at the social and economic philosophies of Communism. Then maybe you can show me where it differs from many of Barack Obama's campaign talking points.
To make the cultish hero worship of this man even more baffling, Barack Obama is a Globalist. Which means that his vision is not only for America, but to see these dangerous, and totalitarian policies implemented on a global scale.
With the overwhelming amount of evidence available, there really can be no excuses if this extremist is elected. All the information we need to make, what should be a very easy choice, has been available and slapping us in the face. Yet he leads heavily in the polls.
It makes me wonder...have we really lost sight of who we are that much?
What portion of our Constitution, or any other document written by our founding fathers, or what example throughout all of history would lead anyone to believe that wealth redistribution, which is a socialist Marxist tenant, is a good idea??
A quick glimpse at the inevitable results of this "brilliant" plan include examples such as: The USSR 1922 - 1991, The Peoples Republic of China 1949-Present, North Korea 1948-present, Cuba 1959-Present, and Vietnam just to name a few. Sounds like a happy bunch doesn't it?
In fact! I'd challenge anyone to go ask a citizen of Venezuela what they think of these very same ideas that are being implemented in their own country under self proclaimed dictator Hugo Chavez.
There has not been one single instance where this Utopian and dangerously misguided ideology has been employed and created anything other than an all consuming, oppressive, and tyrannical government. History tells us everything we need to know in that most of the countries that have adopted Marxist Communism (which, again, is where the concept of wealth redistribution derives) have since abandoned it for a more open and capitalistic style of government. Those that still suffer under this oppressive ideology are out numbered 8 to 1 by those countries who have seen the light. Those that do remain include: Cuba, Venezuela, China, North Korea, and Vietnam. So could someone please explain to me why we are running towards this agenda instead of away from it?
I'd love for someone to show me what I'm missing here!
This radical and deceiving concept of "when you spread the wealth around, it's good for everybody", has been proven throughout history to crush the middle class along with any form of growth (other than that of the government), halt production and innovation, and destroy the individuals drive to succeed. Which is strange because, I mean, who wouldn't want to work their tail off day in and day out to build a business just to have the success and fruits of their labor taken by a corrupt government under the guise of "spreading it around" to those who are (and lets be honest) not willing to make the same sacrifices themselves.
I know that's my American Dream.
Yeah.....riiight.
That is not who we are.
Now is a time like never before in our history when we must stand together and remind each other of who we are as a People. We must remember that We are a blessed Nation with a Divinely inspired system of government that is "of the people, by the people, and for the people". We are a country that produced the greatest economic engine the world had ever seen through small government, individual freedom, self-reliance, and personal responsibility.
We rely on God and each other, not government run welfare and hand-out happy politicians.
When America is at her best, she is a beacon of hope and a reminder of what can be achieved with God given freedoms as the foundation.
That is who we are. Don't ever forget.
These are our roots and the principles that we need now more than ever.
But if we elect Barack Hussein Obama, we will have no room to complain about the consequences, because he told us exactly who he is.
Friday, October 17, 2008
Glenn Beck To Leave CNN
Glenn Beck Joins FOX News
NEW YORK--(BUSINESS WIRE)--Glenn Beck has signed a multi-year agreement to join FOX News, announced Roger Ailes, Chairman and Chief Executive Officer of FOX News. Beginning next spring, Beck will host FOX News Channel’s (FNC) 5 PM/ET weekday program as well as a weekend show on the network.
Currently, Beck serves as the host of Glenn Beck, a talk show on CNN’s Headline News which has grown more than 200% in viewership in both the 7pm and 9pm timeslots since its 2006 debut. He also hosts a daily radio show The Glenn Beck Program which is syndicated via Premiere Radio Networks to more than 300 stations nationwide as well as XM Satellite Radio, and ranks as the third most listened to radio talk show in America among adults 25-54.
In making the announcement, Ailes said, “As we embark on a new political landscape, Glenn’s thought provoking commentary will complement an already stellar line-up of stars at FOX News.”
Prior to his television career, Beck served as a talk radio show host at WFLA-AM in Tampa, FL where he took his program to number one within his first year there. He began his radio career in Corpus Christi, Texas as the youngest Top 40 morning show disc jockey in America at 18 years of age. Beck later moved on to become a top 40 disc jockey in major markets around the country, including Houston, Washington, DC, Baltimore, Phoenix and New Haven, CT.
Beck added, “I am thrilled and profoundly humbled to have the chance to bring my program to FOX News. Expanding my audience is exciting, but I'm really looking forward to joining Mr. Ailes and his world-class team."
A recipient of the 2008 Marconi Award for Network Syndicated Personality of the Year from the National Association of Broadcasters, Beck is also the author of the New York Times bestseller An Inconvenient Book - Real Solutions to the World’s Biggest Problems (2007) as well as The Real America - Messages from the Heart and Heartland (2005).
FOX News Channel (FNC) is a 24-hour general news service covering breaking news as well as political, entertainment and business news. For more than six years, FNC has been the most watched cable news channel in the nation. Owned by News Corp., FNC is available in more than 90 million homes.
On his morning radio show, Beck also expressed that part of the reason he is leaving CNN for FOX News is for fear of the return of the fairness doctrine and an all out asault on the 1st amendment freedom of speech if Democrats run the board in the upcoming election.
Beck said, "at some point, like-minded people have to stand together."
While this is clearly a good move for his ratings, it is a loss for CNN as Becks' program was one of the highest rated on the network as well as one of the few objective voices on an otherwise biased media outlet.
NEW YORK--(BUSINESS WIRE)--Glenn Beck has signed a multi-year agreement to join FOX News, announced Roger Ailes, Chairman and Chief Executive Officer of FOX News. Beginning next spring, Beck will host FOX News Channel’s (FNC) 5 PM/ET weekday program as well as a weekend show on the network.
Currently, Beck serves as the host of Glenn Beck, a talk show on CNN’s Headline News which has grown more than 200% in viewership in both the 7pm and 9pm timeslots since its 2006 debut. He also hosts a daily radio show The Glenn Beck Program which is syndicated via Premiere Radio Networks to more than 300 stations nationwide as well as XM Satellite Radio, and ranks as the third most listened to radio talk show in America among adults 25-54.
In making the announcement, Ailes said, “As we embark on a new political landscape, Glenn’s thought provoking commentary will complement an already stellar line-up of stars at FOX News.”
Prior to his television career, Beck served as a talk radio show host at WFLA-AM in Tampa, FL where he took his program to number one within his first year there. He began his radio career in Corpus Christi, Texas as the youngest Top 40 morning show disc jockey in America at 18 years of age. Beck later moved on to become a top 40 disc jockey in major markets around the country, including Houston, Washington, DC, Baltimore, Phoenix and New Haven, CT.
Beck added, “I am thrilled and profoundly humbled to have the chance to bring my program to FOX News. Expanding my audience is exciting, but I'm really looking forward to joining Mr. Ailes and his world-class team."
A recipient of the 2008 Marconi Award for Network Syndicated Personality of the Year from the National Association of Broadcasters, Beck is also the author of the New York Times bestseller An Inconvenient Book - Real Solutions to the World’s Biggest Problems (2007) as well as The Real America - Messages from the Heart and Heartland (2005).
FOX News Channel (FNC) is a 24-hour general news service covering breaking news as well as political, entertainment and business news. For more than six years, FNC has been the most watched cable news channel in the nation. Owned by News Corp., FNC is available in more than 90 million homes.
On his morning radio show, Beck also expressed that part of the reason he is leaving CNN for FOX News is for fear of the return of the fairness doctrine and an all out asault on the 1st amendment freedom of speech if Democrats run the board in the upcoming election.
Beck said, "at some point, like-minded people have to stand together."
While this is clearly a good move for his ratings, it is a loss for CNN as Becks' program was one of the highest rated on the network as well as one of the few objective voices on an otherwise biased media outlet.
Thursday, October 16, 2008
History
Message from the Editor:
In light of what we are seeing in the news on a dialy basis, I feel that this brief yet poignant summation of history is more than worthy of a quick read. I firmly believe that at the heart of this short article by Sir Malcolm Muggeridge, written decades ago, lies the single most crucial element increasingly missing from American homes.....The central role of our Creator.
It's in our best interest to take sometime and think about what it is Mr. Muggeridge is saying.
"History"
We look back upon history, and what do we see? Empires rising and falling. Revolutions and Counterrevolutions. Wealth accumulated and wealth disbursed.
Shakespeare has written of the rise and fall of great ones, that ebb and flow with the moon.
I look back upon my own fellow countrymen, once upon a time dominating a quarter of the world, most of them convinced, in the words of what is still a popular song, that the God who made them mighty, shall make them mightier yet.
We’ve heard a crazed, cracked Austrian announce to the world the establishment of a Reich that would last a thousand years.
We have seen an Italian clown say he was going to stop and restart the calendar with his own ascension to power.
..We’ve heard a murderous Georgian brigand in the Kremlin, acclaimed by the intellectual elite of the world as wiser than Solomon, more humane than Marcus Aurelius, more enlightened than Ashoka.
We have seen America, wealthier and in terms of military weaponry, more powerful than the rest of the world put together, so that had the American people so desired, they could have outdone a Caesar, or an Alexander in the range and scale of their conquests. All in one lifetime, all in one lifetime, all gone. Gone with the wind.
England is part of a tiny island off the coast of Europe, threatened with dismemberment and even bankruptcy.
Hitler and Mussolini dead, remembered only in infamy.
Stalin a forbidden name in the regime he helped found and dominate for some three decades.
America haunted by fears of running out of those precious fluids that keeps their motorways roaring, and the smog settling, with troubled memories of a disastrous campaign in Vietnam, and the victories of the Don Quixotes of the media as they charged the windmills of Watergate. All in one lifetime, all in one lifetime, all gone. Gone with the wind.
Behind the debris of these solemn supermen, and self-styled imperial diplomatists, there stands the gigantic figure of One, because of whom, by whom, in whom and through whom alone, mankind may still have hope: The person of Jesus Christ.
- Malcolm Muggeridge
In light of what we are seeing in the news on a dialy basis, I feel that this brief yet poignant summation of history is more than worthy of a quick read. I firmly believe that at the heart of this short article by Sir Malcolm Muggeridge, written decades ago, lies the single most crucial element increasingly missing from American homes.....The central role of our Creator.
It's in our best interest to take sometime and think about what it is Mr. Muggeridge is saying.
"History"
We look back upon history, and what do we see? Empires rising and falling. Revolutions and Counterrevolutions. Wealth accumulated and wealth disbursed.
Shakespeare has written of the rise and fall of great ones, that ebb and flow with the moon.
I look back upon my own fellow countrymen, once upon a time dominating a quarter of the world, most of them convinced, in the words of what is still a popular song, that the God who made them mighty, shall make them mightier yet.
We’ve heard a crazed, cracked Austrian announce to the world the establishment of a Reich that would last a thousand years.
We have seen an Italian clown say he was going to stop and restart the calendar with his own ascension to power.
..We’ve heard a murderous Georgian brigand in the Kremlin, acclaimed by the intellectual elite of the world as wiser than Solomon, more humane than Marcus Aurelius, more enlightened than Ashoka.
We have seen America, wealthier and in terms of military weaponry, more powerful than the rest of the world put together, so that had the American people so desired, they could have outdone a Caesar, or an Alexander in the range and scale of their conquests. All in one lifetime, all in one lifetime, all gone. Gone with the wind.
England is part of a tiny island off the coast of Europe, threatened with dismemberment and even bankruptcy.
Hitler and Mussolini dead, remembered only in infamy.
Stalin a forbidden name in the regime he helped found and dominate for some three decades.
America haunted by fears of running out of those precious fluids that keeps their motorways roaring, and the smog settling, with troubled memories of a disastrous campaign in Vietnam, and the victories of the Don Quixotes of the media as they charged the windmills of Watergate. All in one lifetime, all in one lifetime, all gone. Gone with the wind.
Behind the debris of these solemn supermen, and self-styled imperial diplomatists, there stands the gigantic figure of One, because of whom, by whom, in whom and through whom alone, mankind may still have hope: The person of Jesus Christ.
- Malcolm Muggeridge
Wednesday, October 15, 2008
"Something Big is Happening"
10/15/08
A note from the Editor:
This was a statement made on the floor of the House of Representatives by
Texas Congressman and former Presidential candidate, Ron Paul, on July 9 2008.
He has been ringing the warning bells about our economy and the political corruption in Washington at the expense of his reputation for literally decades.
He has been mocked, laughed at, called an isolationist, called an alarmist, and ignored by other leaders. Well, as it turns out, he has been right all along, yet the same corrupt politicians are still laughing at him. Not this guy! I'm listening to him and so should you.
The very people who helped create this economic crisis are now trying to convince us that they are the leaders we should trust to fix it.
NO THANKS!!
It is time that we start looking to those who have seen this coming from a distance. Just a little common sense tells me that those who had the clarity and foresight to see this coming and the courage to stand up and speak out against status quo will have the knowledge, understanding, integrity, and leadership to show us the best way out.
I don't necessarily agree with Rep. Paul on every issue but when it comes to the economy and the erosion of our liberty he could not be more accurate. He is a true American patriot and his words are truthful, and never more relevant then now.
Statement: "Something Big is Happening"
9 July 2008
Rep. Ron Paul, M.D.
Madam Speaker, I have, for the past 35 years, expressed my grave concern for the future of America . The course we have taken over the past century has threatened our liberties, security and prosperity. In spite of these long-held concerns, I have days--growing more frequent all the time--when I'm convinced the time is now upon us that some Big Events are about to occur. These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed.
Though the world has long suffered from the senselessness of wars that should have been avoided, my greatest fear is that the course on which we find ourselves will bring even greater conflict and economic suffering to the innocent people of the world--unless we quickly change our ways.
America , with her traditions of free markets and property rights, led the way toward great wealth and progress throughout the world as well as at home. Since we have lost our confidence in the principles of liberty, self reliance, hard work and frugality, and instead took on empire building, financed through inflation and debt, all this has changed. This is indeed frightening and an historic event.
The problem we face is not new in history. Authoritarianism has been around a long time. For centuries, inflation and debt have been used by tyrants to hold power, promote aggression, and provide “bread and circuses” for the people. The notion that a country can afford “guns and butter” with no significant penalty existed even before the 1960s when it became a popular slogan. It was then, though, we were told the Vietnam War and the massive expansion of the welfare state were not problems. The seventies proved that assumption wrong.
Today things are different from even ancient times or the 1970s. There is something to the argument that we are now a global economy. The world has more people and is more integrated due to modern technology, communications, and travel. If modern technology had been used to promote the ideas of liberty, free markets, sound money and trade, it would have ushered in a new golden age--a globalism we could accept.
Instead, the wealth and freedom we now enjoy are shrinking and rest upon a fragile philosophic infrastructure. It is not unlike the levies and bridges in our own country that our system of war and welfare has caused us to ignore.
I'm fearful that my concerns have been legitimate and may even be worse than I first thought. They are now at our doorstep. Time is short for making a course correction before this grand experiment in liberty goes into deep hibernation.
There are reasons to believe this coming crisis is different and bigger than the world has ever experienced. Instead of using globalism in a positive fashion, it's been used to globalize all of the mistakes of the politicians, bureaucrats and central bankers.
Being an unchallenged sole superpower was never accepted by us with a sense of humility and respect. Our arrogance and aggressiveness have been used to promote a world empire backed by the most powerful army of history. This type of globalist intervention creates problems for all citizens of the world and fails to contribute to the well-being of the world's populations. Just think how our personal liberties have been trashed here at home in the last decade.
The financial crisis, still in its early stages, is apparent to everyone: gasoline prices over $4 a gallon; skyrocketing education and medical-care costs; the collapse of the housing bubble; the bursting of the NASDAQ bubble; stock markets plunging; unemployment rising; massive underemployment; excessive government debt; and unmanageable personal debt. Little doubt exists as to whether we'll get stagflation. The question that will soon be asked is: When will the stagflation become an inflationary depression?
There are various reasons that the world economy has been globalized and the problems we face are worldwide. We cannot understand what we're facing without understanding fiat money and the long-developing dollar bubble.
There were several stages. From the inception of the Federal Reserve System in 1913 to 1933, the Central Bank established itself as the official dollar manager. By 1933, Americans could no longer own gold, thus removing restraint on the Federal Reserve to inflate for war and welfare.
By 1945, further restraints were removed by creating the Bretton-Woods Monetary System making the dollar the reserve currency of the world. This system lasted up until 1971. During the period between 1945 and 1971, some restraints on the Fed remained in place. Foreigners, but not Americans, could convert dollars to gold at $35 an ounce. Due to the excessive dollars being created, that system came to an end in 1971.
It's the post Bretton-Woods system that was responsible for globalizing inflation and markets and for generating a gigantic worldwide dollar bubble. That bubble is now bursting, and we're seeing what it's like to suffer the consequences of the many previous economic errors.
Ironically in these past 35 years, we have benefited from this very flawed system. Because the world accepted dollars as if they were gold, we only had to counterfeit more dollars, spend them overseas (indirectly encouraging our jobs to go overseas as well) and enjoy unearned prosperity. Those who took our dollars and gave us goods and services were only too anxious to loan those dollars back to us. This allowed us to export our inflation and delay the consequences we now are starting to see.
But it was never destined to last, and now we have to pay the piper. Our huge foreign debt must be paid or liquidated. Our entitlements are coming due just as the world has become more reluctant to hold dollars. The consequence of that decision is price inflation in this country--and that's what we are witnessing today. Already price inflation overseas is even higher than here at home as a consequence of foreign central banks' willingness to monetize our debt.
Printing dollars over long periods of time may not immediately push prices up--yet in time it always does. Now we're seeing catch-up for past inflating of the monetary supply. As bad as it is today with $4 a gallon gasoline, this is just the beginning. It's a gross distraction to hound away at “drill, drill, drill” as a solution to the dollar crisis and high gasoline prices. Its okay to let the market increase supplies and drill, but that issue is a gross distraction from the sins of deficits and Federal Reserve monetary shenanigans.
This bubble is different and bigger for another reason. The central banks of the world secretly collude to centrally plan the world economy. I'm convinced that agreements among central banks to “monetize” U.S. debt these past 15 years have existed, although secretly and out of the reach of any oversight of anyone--especially the U.S. Congress that doesn't care, or just flat doesn't understand. As this “gift” to us comes to an end, our problems worsen. The central banks and the various governments are very powerful, but eventually the markets overwhelm when the people who get stuck holding the bag (of bad dollars) catch on and spend the dollars into the economy with emotional zeal, thus igniting inflationary fever.
This time--since there are so many dollars and so many countries involved--the Fed has been able to “paper” over every approaching crisis for the past 15 years, especially with Alan Greenspan as Chairman of the Federal Reserve Board, which has allowed the bubble to become history's greatest.
The mistakes made with excessive credit at artificially low rates are huge, and the market is demanding a correction. This involves excessive debt, misdirected investments, over-investments, and all the other problems caused by the government when spending the money they should never have had. Foreign militarism, welfare handouts and $80 trillion entitlement promises are all coming to an end. We don't have the money or the wealth-creating capacity to catch up and care for all the needs that now exist because we rejected the market economy, sound money, self reliance and the principles of liberty.
Since the correction of all this misallocation of resources is necessary and must come, one can look for some good that may come as this “Big Event” unfolds.
There are two choices that people can make. The one choice that is unavailable to us is to limp along with the status quo and prop up the system with more debt, inflation and lies. That won't happen.
One of the two choices, and the one chosen so often by government in the past is that of rejecting the principles of liberty and resorting to even bigger and more authoritarian government. Some argue that giving dictatorial powers to the President, just as we have allowed him to run the American empire, is what we should do. That's the great danger, and in this post-911 atmosphere, too many Americans are seeking safety over freedom. We have already lost too many of our personal liberties already. Real fear of economic collapse could prompt central planners to act to such a degree that the New Deal of the 30's might look like Jefferson 's Declaration of Independence.
The more the government is allowed to do in taking over and running the economy, the deeper the depression gets and the longer it lasts. That was the story of the 30s and the early 40s, and the same mistakes are likely to be made again if we do not wake up.
But the good news is that it need not be so bad if we do the right thing. I saw “Something Big” happening in the past 18 months on the campaign trail. I was encouraged that we are capable of waking up and doing the right thing. I have literally met thousands of high school and college kids who are quite willing to accept the challenge and responsibility of a free society and reject the cradle-to-grave welfare that is promised them by so many do-good politicians.
If more hear the message of liberty, more will join in this effort. The failure of our foreign policy, welfare system, and monetary policies and virtually all government solutions are so readily apparent, it doesn't take that much convincing. But the positive message of how freedom works and why it's possible is what is urgently needed.
One of the best parts of accepting self reliance in a free society is that true personal satisfaction with one's own life can be achieved. This doesn't happen when the government assumes the role of guardian, parent or provider, because it eliminates a sense of pride. But the real problem is the government can't provide the safety and economic security that it claims. The so called good that government claims it can deliver is always achieved at the expense of someone else's freedom. It's a failed system and the young people know it.
Restoring a free society doesn't eliminate the need to get our house in order and to pay for the extravagant spending. But the pain would not be long-lasting if we did the right things, and best of all the empire would have to end for financial reasons. Our wars would stop, the attack on civil liberties would cease, and prosperity would return. The choices are clear: it shouldn't be difficult, but the big event now unfolding gives us a great opportunity to reverse the tide and resume the truly great American Revolution started in 1776. Opportunity knocks in spite of the urgency and the dangers we face.
Let's make “Something Big Is Happening” be the discovery that freedom works and is popular and the big economic and political event we're witnessing is a blessing in disguise.
A note from the Editor:
This was a statement made on the floor of the House of Representatives by
Texas Congressman and former Presidential candidate, Ron Paul, on July 9 2008.
He has been ringing the warning bells about our economy and the political corruption in Washington at the expense of his reputation for literally decades.
He has been mocked, laughed at, called an isolationist, called an alarmist, and ignored by other leaders. Well, as it turns out, he has been right all along, yet the same corrupt politicians are still laughing at him. Not this guy! I'm listening to him and so should you.
The very people who helped create this economic crisis are now trying to convince us that they are the leaders we should trust to fix it.
NO THANKS!!
It is time that we start looking to those who have seen this coming from a distance. Just a little common sense tells me that those who had the clarity and foresight to see this coming and the courage to stand up and speak out against status quo will have the knowledge, understanding, integrity, and leadership to show us the best way out.
I don't necessarily agree with Rep. Paul on every issue but when it comes to the economy and the erosion of our liberty he could not be more accurate. He is a true American patriot and his words are truthful, and never more relevant then now.
Statement: "Something Big is Happening"
9 July 2008
Rep. Ron Paul, M.D.
Madam Speaker, I have, for the past 35 years, expressed my grave concern for the future of America . The course we have taken over the past century has threatened our liberties, security and prosperity. In spite of these long-held concerns, I have days--growing more frequent all the time--when I'm convinced the time is now upon us that some Big Events are about to occur. These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed.
Though the world has long suffered from the senselessness of wars that should have been avoided, my greatest fear is that the course on which we find ourselves will bring even greater conflict and economic suffering to the innocent people of the world--unless we quickly change our ways.
America , with her traditions of free markets and property rights, led the way toward great wealth and progress throughout the world as well as at home. Since we have lost our confidence in the principles of liberty, self reliance, hard work and frugality, and instead took on empire building, financed through inflation and debt, all this has changed. This is indeed frightening and an historic event.
The problem we face is not new in history. Authoritarianism has been around a long time. For centuries, inflation and debt have been used by tyrants to hold power, promote aggression, and provide “bread and circuses” for the people. The notion that a country can afford “guns and butter” with no significant penalty existed even before the 1960s when it became a popular slogan. It was then, though, we were told the Vietnam War and the massive expansion of the welfare state were not problems. The seventies proved that assumption wrong.
Today things are different from even ancient times or the 1970s. There is something to the argument that we are now a global economy. The world has more people and is more integrated due to modern technology, communications, and travel. If modern technology had been used to promote the ideas of liberty, free markets, sound money and trade, it would have ushered in a new golden age--a globalism we could accept.
Instead, the wealth and freedom we now enjoy are shrinking and rest upon a fragile philosophic infrastructure. It is not unlike the levies and bridges in our own country that our system of war and welfare has caused us to ignore.
I'm fearful that my concerns have been legitimate and may even be worse than I first thought. They are now at our doorstep. Time is short for making a course correction before this grand experiment in liberty goes into deep hibernation.
There are reasons to believe this coming crisis is different and bigger than the world has ever experienced. Instead of using globalism in a positive fashion, it's been used to globalize all of the mistakes of the politicians, bureaucrats and central bankers.
Being an unchallenged sole superpower was never accepted by us with a sense of humility and respect. Our arrogance and aggressiveness have been used to promote a world empire backed by the most powerful army of history. This type of globalist intervention creates problems for all citizens of the world and fails to contribute to the well-being of the world's populations. Just think how our personal liberties have been trashed here at home in the last decade.
The financial crisis, still in its early stages, is apparent to everyone: gasoline prices over $4 a gallon; skyrocketing education and medical-care costs; the collapse of the housing bubble; the bursting of the NASDAQ bubble; stock markets plunging; unemployment rising; massive underemployment; excessive government debt; and unmanageable personal debt. Little doubt exists as to whether we'll get stagflation. The question that will soon be asked is: When will the stagflation become an inflationary depression?
There are various reasons that the world economy has been globalized and the problems we face are worldwide. We cannot understand what we're facing without understanding fiat money and the long-developing dollar bubble.
There were several stages. From the inception of the Federal Reserve System in 1913 to 1933, the Central Bank established itself as the official dollar manager. By 1933, Americans could no longer own gold, thus removing restraint on the Federal Reserve to inflate for war and welfare.
By 1945, further restraints were removed by creating the Bretton-Woods Monetary System making the dollar the reserve currency of the world. This system lasted up until 1971. During the period between 1945 and 1971, some restraints on the Fed remained in place. Foreigners, but not Americans, could convert dollars to gold at $35 an ounce. Due to the excessive dollars being created, that system came to an end in 1971.
It's the post Bretton-Woods system that was responsible for globalizing inflation and markets and for generating a gigantic worldwide dollar bubble. That bubble is now bursting, and we're seeing what it's like to suffer the consequences of the many previous economic errors.
Ironically in these past 35 years, we have benefited from this very flawed system. Because the world accepted dollars as if they were gold, we only had to counterfeit more dollars, spend them overseas (indirectly encouraging our jobs to go overseas as well) and enjoy unearned prosperity. Those who took our dollars and gave us goods and services were only too anxious to loan those dollars back to us. This allowed us to export our inflation and delay the consequences we now are starting to see.
But it was never destined to last, and now we have to pay the piper. Our huge foreign debt must be paid or liquidated. Our entitlements are coming due just as the world has become more reluctant to hold dollars. The consequence of that decision is price inflation in this country--and that's what we are witnessing today. Already price inflation overseas is even higher than here at home as a consequence of foreign central banks' willingness to monetize our debt.
Printing dollars over long periods of time may not immediately push prices up--yet in time it always does. Now we're seeing catch-up for past inflating of the monetary supply. As bad as it is today with $4 a gallon gasoline, this is just the beginning. It's a gross distraction to hound away at “drill, drill, drill” as a solution to the dollar crisis and high gasoline prices. Its okay to let the market increase supplies and drill, but that issue is a gross distraction from the sins of deficits and Federal Reserve monetary shenanigans.
This bubble is different and bigger for another reason. The central banks of the world secretly collude to centrally plan the world economy. I'm convinced that agreements among central banks to “monetize” U.S. debt these past 15 years have existed, although secretly and out of the reach of any oversight of anyone--especially the U.S. Congress that doesn't care, or just flat doesn't understand. As this “gift” to us comes to an end, our problems worsen. The central banks and the various governments are very powerful, but eventually the markets overwhelm when the people who get stuck holding the bag (of bad dollars) catch on and spend the dollars into the economy with emotional zeal, thus igniting inflationary fever.
This time--since there are so many dollars and so many countries involved--the Fed has been able to “paper” over every approaching crisis for the past 15 years, especially with Alan Greenspan as Chairman of the Federal Reserve Board, which has allowed the bubble to become history's greatest.
The mistakes made with excessive credit at artificially low rates are huge, and the market is demanding a correction. This involves excessive debt, misdirected investments, over-investments, and all the other problems caused by the government when spending the money they should never have had. Foreign militarism, welfare handouts and $80 trillion entitlement promises are all coming to an end. We don't have the money or the wealth-creating capacity to catch up and care for all the needs that now exist because we rejected the market economy, sound money, self reliance and the principles of liberty.
Since the correction of all this misallocation of resources is necessary and must come, one can look for some good that may come as this “Big Event” unfolds.
There are two choices that people can make. The one choice that is unavailable to us is to limp along with the status quo and prop up the system with more debt, inflation and lies. That won't happen.
One of the two choices, and the one chosen so often by government in the past is that of rejecting the principles of liberty and resorting to even bigger and more authoritarian government. Some argue that giving dictatorial powers to the President, just as we have allowed him to run the American empire, is what we should do. That's the great danger, and in this post-911 atmosphere, too many Americans are seeking safety over freedom. We have already lost too many of our personal liberties already. Real fear of economic collapse could prompt central planners to act to such a degree that the New Deal of the 30's might look like Jefferson 's Declaration of Independence.
The more the government is allowed to do in taking over and running the economy, the deeper the depression gets and the longer it lasts. That was the story of the 30s and the early 40s, and the same mistakes are likely to be made again if we do not wake up.
But the good news is that it need not be so bad if we do the right thing. I saw “Something Big” happening in the past 18 months on the campaign trail. I was encouraged that we are capable of waking up and doing the right thing. I have literally met thousands of high school and college kids who are quite willing to accept the challenge and responsibility of a free society and reject the cradle-to-grave welfare that is promised them by so many do-good politicians.
If more hear the message of liberty, more will join in this effort. The failure of our foreign policy, welfare system, and monetary policies and virtually all government solutions are so readily apparent, it doesn't take that much convincing. But the positive message of how freedom works and why it's possible is what is urgently needed.
One of the best parts of accepting self reliance in a free society is that true personal satisfaction with one's own life can be achieved. This doesn't happen when the government assumes the role of guardian, parent or provider, because it eliminates a sense of pride. But the real problem is the government can't provide the safety and economic security that it claims. The so called good that government claims it can deliver is always achieved at the expense of someone else's freedom. It's a failed system and the young people know it.
Restoring a free society doesn't eliminate the need to get our house in order and to pay for the extravagant spending. But the pain would not be long-lasting if we did the right things, and best of all the empire would have to end for financial reasons. Our wars would stop, the attack on civil liberties would cease, and prosperity would return. The choices are clear: it shouldn't be difficult, but the big event now unfolding gives us a great opportunity to reverse the tide and resume the truly great American Revolution started in 1776. Opportunity knocks in spite of the urgency and the dangers we face.
Let's make “Something Big Is Happening” be the discovery that freedom works and is popular and the big economic and political event we're witnessing is a blessing in disguise.
Saturday, October 11, 2008
Obama's Magic Show: Presto, Change-O!
October 10, 2008
by Kimberley A. Strassel
And now, America, we introduce the Great Obama! The world's most gifted political magician! A thing of wonder. A thing of awe. Just watch him defy politics, economics, even gravity! (And hold your applause until the end, please.)
by Kimberley A. Strassel
And now, America, we introduce the Great Obama! The world's most gifted political magician! A thing of wonder. A thing of awe. Just watch him defy politics, economics, even gravity! (And hold your applause until the end, please.)
To kick off our show tonight, Mr. Obama will give 95% of American working families a tax cut, even though 40% of Americans today don't pay income taxes! How can our star enact such mathemagic? How can he "cut" zero? Abracadabra! It's called a "refundable tax credit." It involves the federal government taking money from those who do pay taxes, and writing checks to those who don't. Yes, yes, in the real world this is known as "welfare," but please try not to ruin the show.
For his next trick, the Great Obama will jump start the economy, and he'll do it by raising taxes on the very businesses that are today adrift in a financial tsunami! That will include all those among the top 1% of taxpayers who are in fact small-business owners, and the nation's biggest employers who currently pay some of the highest corporate tax rates in the developed world. Mr. Obama will, with a flick of his fingers, show them how to create more jobs with less money. It's simple, really. He has a wand.
Next up, Mr. Obama will re-regulate the economy, with no ill effects whatsoever! You may have heard that for the past 40 years most politicians believed deregulation was good for the U.S. economy. You might have even heard that much of today's financial mess tracks to loose money policy, or Fannie and Freddie excesses. Our magician will show the fault was instead with our failure to clamp down on innovation and risk-taking, and will fix this with new, all-encompassing rules. Presto!
Did someone in the audience just shout "Sarbanes Oxley?" Usher, can you remove that man? Thank you. Mr. Obama will now demonstrate how he gives Americans the "choice" of a "voluntary" government health plan, designed in such a way as to crowd out the private market and eliminate all other choice! Don't worry people: You won't have to join, until you do. Mr. Obama will follow this with a demonstration of how his plan will differ from our failing Medicare program. Oops, sorry, folks. The Great Obama just reminded me it is time for an intermission. Maybe we'll get to that marvel later.
We're back now. And just watch the Great Obama perform a feat never yet managed in all history. He will create that enormous new government health program, spend billions to transform our energy economy, provide financial assistance to former Soviet satellites, invest in infrastructure, increase education spending, provide job training assistance, and give 95% of Americans a tax (ahem) cut -- all without raising the deficit a single penny! And he'll do it in the middle of a financial crisis. And with falling tax revenues! Voila!
Moving along to a little ventriloquism. Study his mouth carefully, folks: It looks like he's saying "I'll stop the special interests," when in fact the words coming out are "Welcome to Washington, friends!" Wind and solar companies, ethanol makers, tort lawyers, unions, community organizers -- all are welcome to feed at the public trough and to request special favors. From now on "special interests" will only refer to universally despised, if utterly crucial, economic players. Say, oil companies. Hocus Pocus!
And for tonight's finale, the Great Obama will uphold America's "moral" obligation to "stop genocide" by abandoning Iraq! While teleported to the region, he will simultaneously convince Iranian leaders to peacefully abandon their nuclear pursuits (even as he does not sit down with them), fix Afghanistan with a strategy that does not resemble the Iraqi surge, and (drum roll!) pull Osama bin Laden out of his hat!
Tada!
You can clap now. (Applause. Cheers.) We'd like to thank a few people in the audience. Namely, Republican presidential nominee John McCain, who has so admirably restrained himself from running up on stage to debunk any of these illusions and spoil every one's fun.
We know he's in a bit of a box, having initially blamed today's financial crisis on corporate "greed," and thus made it that much harder to call for a corporate tax cut, or warn against excessive regulation. Still, there were some pretty big openings up here this evening, and he let them alone! We'd also like to thank Mr. McCain for keeping all the focus on himself these past weeks. It has helped the Great Obama to just get on with the show.
As for that show, we'd love to invite you all back for next week's performance, when the Great Obama will thrill with new, amazing exploits. He will respect your Second Amendment rights even as he regulates firearms! He will renegotiate NAFTA, even as he supports free trade! He will .
Article by KIMBERLEY A. STRASSEL
The Wall Street Journal
10/10/08
Tuesday, October 7, 2008
Corrupt Politicians and The Money Mess
by Tim Connolly
10/3/08
I can't take it!
We the People are staring down the barrel of a gun looking our economic death squarely in the eye and all we get (as usual) from our elected "leaders" is finger pointing and political posturing! Both Republicans and Democrats attempting to politicize the problem as a means of gaining ground in the upcoming November elections.
Is there anyone at this point who cannot see how it is this very same partisan behavior that has brought us this mess to begin with?!
10/3/08
I can't take it!
We the People are staring down the barrel of a gun looking our economic death squarely in the eye and all we get (as usual) from our elected "leaders" is finger pointing and political posturing! Both Republicans and Democrats attempting to politicize the problem as a means of gaining ground in the upcoming November elections.
Is there anyone at this point who cannot see how it is this very same partisan behavior that has brought us this mess to begin with?!
President George Washington, in his farewell address, ardently warned of the inevitable corruption that would follow if our Nation were to allow political partisanship among our elected officials. In the same address he stressed that if we embraced the views of a specific Party, rather than a strict adherence to the Constitution, that the leaders of that Party would attempt to create division among us simply to expand their own power.
Well, I believe it safe to say, if he were able to see what is going on today in our government he would slap the stupid out of us for blindly buying into the rhetoric of whichever Party we cling to, and for allowing these clowns to stay in power!
Regardless of which political party you side with it's time to snap out of it and face facts, because the truth is that they are all culpable. Republicans. Democrats. Take your pick, because every last one of them has blood on there hands!
Well, I believe it safe to say, if he were able to see what is going on today in our government he would slap the stupid out of us for blindly buying into the rhetoric of whichever Party we cling to, and for allowing these clowns to stay in power!
Regardless of which political party you side with it's time to snap out of it and face facts, because the truth is that they are all culpable. Republicans. Democrats. Take your pick, because every last one of them has blood on there hands!
And for those of you who are actually buying into the finger pointing and claims of innocence by the Donkeys, take a look at the video I've placed below. It might add a sour taste to the kool-aid you've been drinking.
As you can see, it doesn't take more than a few minutes of objective, non-biased observation to realize that both parties in collusion with the Federal Reserve created this mess through over taxation, bad monetary policy, even worse fiscal policy, unbridled spending, and misuse of the regulatory powers already in place to protect the American people. We just have to open our eyes to see it.
What worsens the blow is that our elected officials as well as the power brokers at the Fed have known about this oncoming freight train for some time now, but, instead of telling the American People the truth about our rapidly deteriorating financial standings, they consistently manipulated economic data to create the illusion that everything was "just fine". Why? To maintain power? Probably, but that excuse seems a bit weak considering the severity of the damage. So, Why then?
As you can see, it doesn't take more than a few minutes of objective, non-biased observation to realize that both parties in collusion with the Federal Reserve created this mess through over taxation, bad monetary policy, even worse fiscal policy, unbridled spending, and misuse of the regulatory powers already in place to protect the American people. We just have to open our eyes to see it.
What worsens the blow is that our elected officials as well as the power brokers at the Fed have known about this oncoming freight train for some time now, but, instead of telling the American People the truth about our rapidly deteriorating financial standings, they consistently manipulated economic data to create the illusion that everything was "just fine". Why? To maintain power? Probably, but that excuse seems a bit weak considering the severity of the damage. So, Why then?
I believe this is the question that must be asked. Why would so many men and women who are elected by claiming to be true, loyal, and patriotic Americans so regularly bite the hand that feeds them, to the extent that the very sovereignty of our nation has been placed in jeopardy?
I'm not certain that that question can be answered with absolute surety, but regardless of the reasons as to why they did it, the fact remains that if you or I had committed even a fraction of the "indiscretions" that our politicians, bankers, and billionaire corporate executives have made to get us to this point we would be on our way to JAIL!! There would be no presidential pardons for 'Joe Blue-collar'! No slaps on the wrist that come with multi-million dollar bonuses. Just four walls, a mattress, and a toilet. And rightfully so!
In my opinion, the actions and inaction's of every person involved warrant criminal charges for fraud, embezzlement, grand larceny, insider trading, and the list goes on. Every single one of them should be thoroughly investigated, charged based on their involvement, sentenced without prejudice, and sent to prison.
I'm not certain that that question can be answered with absolute surety, but regardless of the reasons as to why they did it, the fact remains that if you or I had committed even a fraction of the "indiscretions" that our politicians, bankers, and billionaire corporate executives have made to get us to this point we would be on our way to JAIL!! There would be no presidential pardons for 'Joe Blue-collar'! No slaps on the wrist that come with multi-million dollar bonuses. Just four walls, a mattress, and a toilet. And rightfully so!
In my opinion, the actions and inaction's of every person involved warrant criminal charges for fraud, embezzlement, grand larceny, insider trading, and the list goes on. Every single one of them should be thoroughly investigated, charged based on their involvement, sentenced without prejudice, and sent to prison.
Until then, 'We the People' are on the losing end of this disaster and will suffer the most for the actions of the 'ruling Elite'.
Just another day in America....
"I am a firm believer in the People. If given the truth, they can be depended upon to meet any national crises. The great point is to bring them the real facts."
- Abraham Lincoln
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