Tuesday, April 13, 2010
Poor Algore!
Doesn’t Like Ambush Journalism. Poor Baby!
Permalink
Money Morning, Peter D. Schiff - Inflating Government Bubble Can Only Lead to a Major Financial Hangover
During the 1990s, the inflationary policy of the U.S. Federal Reserve fueled a tech-stock bubble. When that bubble burst, the Fed inflated a larger one in real estate. Now that the real estate bubble has burst, the Fed is inflating the biggest bubble of them all - a bubble in government.
While the earlier booms provided at least the illusion of prosperity - as well as some fun while they lasted - the government bubble will cripple the economy and deliver widespread misery to the vast majority of Americans.
Through corruption or just plain ignorance, Congress and the Obama administration have embraced an ideology that has failed every time it has been tried.
Take the recent student loan reforms that were slipped into the healthcare bill. U.S. President Barack Obama wants to reduce the cost of providing student loans by taking the profits out of the industry. According to President Obama, student loans are too expensive because banks profit from making them. If the government nationalizes the function, we would apparently bring down costs by eliminating those pesky profits.
This is a Marxist argument, pure and simple. If true, it would apply to all industries, not just banking. States like Cuba and North Korea would be the envy of the world, as they prohibit profits across the board. The truth is that profits - earned from free-market competition - keep cost down. By taking the profits out and putting the bureaucrats in, any incentive to provide better service or lower costs is eliminated. It’s not hard to predict that student-loan costs will now rise faster than ever.
In the end, when runaway inflation and skyrocketing interest rates burst the government bubble, there will be no more bubbles to replace it - just one hell of a hangover.
Yahoo News, more bowing to the east.
The financial services industry in the U.S. is the most regulated industry in the world. Point to any of the causes of the meltdown, and you will not find unfettered capitalism. You’ll find the heavy hand of government, preventing the market from doing what it always does.
Dan Ferris, Stansberry & Associates, Investment Research
Typical of the leftist thugs, perpetrate a violent act and then deny it and blame the Tea Party. Will Harry Reid apologize for the behavior of his supporters? Not likely.
I guess the new tactics of the leftist Democrats is to try to incite the opposition to react in a way where they can be accused of being violent. It is not in a conservatives nature to react violently. What did it say in Proverbs today? “Stirring up anger produces strife,” I think that’s the plan, produce enough strife in the country to destroy it. That way, Obama can suspend the Constitution, declare martial law, and appoint himself dictator. We are truly living in dangerous times.
‘If aliens landed tomorrow, they wouldn’t understand our money system at all,’ he explained. ‘The aliens would ask, ‘People really save these pieces of paper backed by nothing, issued without restraint, by a government that certainly can’t pay its debts? That makes no sense!
Porter Stansberry
Fox News - Democratic Senator: Health Care Law to Address ‘Mal-Distribution of Income’
Too often, much of late, the last couple three years, the mal-distribution of income in American is gone up way too much, the wealthy are getting way, way too wealthy and the middle income class is left behind,” he said. “Wages have not kept up with increased income of the highest income in America. This legislation will have the effect of addressing that mal-distribution of income in America.
Senator Max Baucus (D) Montana
Charity only tends to perpetuate the wretchedness it aims to eradicate.
Wallace D. Wattles
The Washington Times - CBO report: Debt will rise to 90% of GDP
President Obama’s fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation’s economic output by 2020, the Congressional Budget Office reported Thursday.
The federal public debt, which was $6.3 trillion ($56,000 per household) when Mr. Obama entered office amid an economic crisis, totals $8.2 trillion ($72,000 per household) today, and it’s headed toward $20.3 trillion (more than $170,000 per household) in 2020, according to CBO’s deficit estimates.
That figure would equal 90 percent of the estimated gross domestic product in 2020, up from 40 percent at the end of fiscal 2008. By comparison, America’s debt-to-GDP ratio peaked at 109 percent at the end of World War II, while the ratio for economically troubled Greece hit 115 percent last year.
Real Clear Politics - Obama On GOP’s Attempt To Repeal Bill: ‘Go For It’
Reuters - Obama dares Republicans to seek healthcare repeal
Real Clear Politics - MSNBC Host: Time For “Socialism” In Talk Radio
Here’s a News flash for you, Ed. That was tried by “Air America” and the business model of paying radio stations to air communist socialist progressive liberal talk radio was a failure.
Here’s a hint for you Ed, the radio stations pay Rush Limbaugh for the privilege of airing his show because the American People actually want to listen. Radio stations like to have lots of listeners so that they can sell advertising and make a profit. To a radio station “Socialism” in talk radio would be a disaster.
Fox News - Tea Party Protesters Dispute Reports of Slurs, Spitting Against Dem Lawmakers
You Tube - Clyburn: Health Care Opponents Aiding Terrorism
Fox News - Coffin placed in front of Carnahan’s house
Fox News - Cantor Says Campaign Office Was Shot At, Accuses Dems of Exploiting Threats
Channel 4, New York - “DROP DEAD”: White Powder Package Sent to Rep. Weiner’s Office
Be Cautious America, conservatives are going to be blamed for all kind of violent and threatening behavior. Look for a Democrat’s hand behind every one of the news stories. The Republicans, Tea Party and Conservatives will face the equivalent of Hitler’s Reichstag Fire. Where Communists were branded as the cause and became enemies of the State, even thought the evidence points to SS agents, (Nazis), who started the fire in their own Parliament Building.
All Obama needs now is a horrific event, (Reichstag Fire), to blame on the Conservatives then he can claim a national emergency, suspend civil rights, then ban conservative publications and Talk Radio for their direct involvement in inciting the citizens to act in violent ways. Perhaps even suspending the November elections.
Be on guard, America. The Thugocracy can not be trusted, EVER! We are living in very dangerous times.
In contrast to Americans’ faith in themselves, every major piece of legislation proffered by the President and his Democratic Congress expands and empowers Big Government at the expense of the people. Possessed of a smug, cynical, patronizing view of Americans as dependents desiring State benefits, this arrogant administration and its enablers have defied the American people and bi-partisan opposition in Congress to unilaterally jam through a trillion-dollar government takeover of health care.
Why? For so many Americans, the answer is that this President and his Democratic Congress think they are smarter than you; want to run your life; and want to make government your ruler, not your servant.