Archive for the ‘economy’ Category

HOPE

Saturday, January 30th, 2010

I wrote this post on HOPE for my friend Danny at Waking Ideas.

So, a little over one year into the Obama presidency, and here we stand. The depression has deepened, the homeless and jobless rate is skyscraping, but The Administration insists the worst is over. The war is expanding into new territories, even though we stretched our military too thin years ago. Civil liberties are being taken at a record pace, for any reason our rulers can find to take them. We’re spending money we don’t have like it’s going out of style, to the point where other countries are refusing to lend to us anymore, and for good reason. Picking up in almost every way where the Bush administration left off, Obama’s approval rating is below 50% and dropping fast, and America’s praise for his colleagues on the Hill is barely half that high.

And therein lies the hope.

Recently the people of Massachusetts, the most liberal state in the nation, rattled the Democrats’ cage when they elected a Republican senator, a clear and outright rejection of the anti-capitalist, anti-free-market, anti-freedom policies of Obama and his party. Because of popular outcry, the government healthcare takeover bill has been severely weakened and even has a good chance of failing, forcing Congress to go back and take a fundamental look at what they are trying to accomplish and work towards it slowly instead of ramming something through. Ron Paul’s initiative to, for the first time ever, audit the Federal Reserve, the keeper of America’s fiscal policy, is growing wings. The man himself can be seen on news programs almost daily, a surprise but yet an encouragement to people like myself who support his platform.

Even if it is, for now, a bit overshadowed by the faux/pseudo-libertarian neocon movement, the true libertarian party is growing, its ideology spreading. Americans are starting to reject the Republicans and the Democrats, realizing they are just two wings of the same party. An intellectual the likes of Peter Schiff who, four years ago, was being laughed at for his economic outlook, is now running for Senate with a great shot at winning, and there we can take hope in the gradual restoration of sound money policies and Constitutional values. The libertarian ideology’s threatening effects to the establishment can be seen in the removal of people like John Stossel and Lou Dobbs from the airwaves. Andrew Napolitano will probably be next. But we must take hope that it’s too late to chill a movement that’s already taken hold.

It has become clear that Obama, his administration, and much of the Congress have lost touch with the American people. But there is hope. When the banks and corporations are bailed out before the people, they start to call Obama’s false populist promises for what they are: lies. Civil disobedience against the State is making a comeback, in a way that would make Thoreau proud. The number of thought insurgents is growing every day. Baby roots of iconoclasm are growing in our culture. The paradigm is shifting. The curtain is being torn, and the man behind it may finally have to show his face soon.

People are waking up. The insurgency is alive.

central planners: the smartest people in the world

Monday, October 19th, 2009

central planners are the smartest people in the world. the central planner of the U.S. – Ben Bernanke, Chairman of the Fed – knows exactly what I, as well as 300 million other people, are going to do with our money!

or not. earlier this year, I had a discussion with a friend about how, later this year, we would see inflation due to the massive amount of money that would have to be printed to compensate for the trillions in bailouts and other imaginary money the Fed was going to create. he argued that central economic planning was a good thing because it evens out the highs and lows in the economy, so that we don’t have depressions, and recessions aren’t so bad, etc.

theoretically, he was right. it would be great to be able to smooth out the economy! the problem is, nobody on this earth could ever understand the spending patterns of even a handful of other random people, yet alone of 300 million. throw on top of that the fact that central planners must be totally incorruptible – that is, they must never make decisions that would unfairly benefit themselves or anyone else. if such a human being exists, I assure you, they will not be working a government job.

until the U.S. economy was centrally planned, the value of the dollar had not really deviated since it was created. however, since the Fed was reinstated in the early 1900s, the dollar has lost 95% of its value. tell me – is the Fed doing its job?

recently, the DOW hit 10,000. great! within the same week, gold hit an all-time high against the dollar. to give a quick economics lesson, gold is still the “unofficial” international standard – when gold rises in USD, the value of the USD has dropped, since it requires more USD to purchase the same amount of gold. what this means is that the actual value of the DOW today as compared to another year is roughly equal to (today’s DOW * (gold then / gold today)). the value of the DOW today, only 5 years ago, would be only at 4,000 (it was actually at 10,000 then). the dollar has lost 60% of its value in half of one decade. yes, all this to say two words: massive inflation. tell me – is the Fed doing its job?

basically, the concept of central planners means that they not only know how I should spend my money (better than I do), but that they know how I will spend my money (better than I do!). and on that notion, I would have to disagree. I hope you would too.

[Bailout and Stimulus] spending will only stimulate sectors of the economy that are failing. This is like trying to rid the world of gravity by throwing things up in the air. – Ron Paul

Audit The Fed, pt. 3! … then ABOLISH it!

Thursday, June 11th, 2009

previously I have made posts on HR 1207: Federal Reserve Transparency Act of 2009 [GT] [OC] and S 604: Federal Reserve Sunshine Act of 2009 [GT] [OC], “To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.”

HR 1207 now has over 200 cosponsors (208 as of today)! it is also getting lots of well-deserved attention in the news. here’s one: Ron Paul’s Audit the Fed Bill Hits 207 Co-Sponsors House Minority Leader Boehner joins bi-partisan coalition supporting Federal Reserve transparency.

The Fed is literally a conglomeration of private banks which loans money at interest to the American people, for its own profit. it has the power to flood or drain the economy’s money supply. it has recently bailed out numerous special interests (which it won’t name, even to Congressional oversight committees) with billions more of our taxpayer money. it has recently hired a lobbyist to combat the Audit The Fed movement, because it knows that once we find out how it has been mishandling our money they will all be out of jobs and hopefully behind bars for treason.

there are also these other Congress bills acting on The Fed. HR 1348: Federal Reserve Sunshine Act [GT] [OC], and S 513: Federal Reserve Transparency Act [GT] [OC], “To require the Board of Governors of the Federal Reserve System to publish information on financial assistance provided to various entities, and for other purposes.”

HR 833: Federal Reserve Board Abolition Act [GT] [OC], “To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.” now, I don’t think the majority of the people understand the significance of these bills. these are historical.. these are Andrew Jackson-esque! why is this bill important? Fed Would Be Shut Down If It Were Audited, Expert Says.

keep the heat on. keep contacting your Representatives and urging them to support these bills, using the techniques I described in the first two posts, linked in the first paragraph above. and if they won’t, vote them out! there is no reason to keep the Congress from having monetary oversight over We The People’s money; the Constitution specifically grants Congress with this power, and so any Representatives against this bill are in direct violation of their sworn oath. I end this post, as many others, with some insight from the old men with psychic powers:

If the People only understood the rank injustice of our money and banking system there would be a revolution before morning!
- Andrew Jackson

If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks, and corporations that grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. I sincerely believe the banking institutions, having the issuing power of money, are more dangerous to liberty than standing armies! Already they have set up a monetary aristocracy that has the government at defiance. The issuing power [of currency] should be taken from the banks and restored to Congress and to the People, to whom it belongs!
- Thomas Jefferson

Your republic will be as fearfully plundered and laid waste by barbarians in the twentieth century as the Roman Empire was in the fifth; with this difference; that the Huns and Vandals who ravaged the Roman Empire came from without and your Huns and Vandals will have been engendered within your own country, by your own institutions.
- Thomas B. Macaulay

S 604: Audit The Fed, pt. 2!

Friday, May 22nd, 2009

this is a sister post to HR 1207: Audit The Fed

great news… well over 1/3 of the House is now co-sponsoring HR 1207! this means it has a great chance to pass. but now we’ve got to get cracking on its companion bill in the Senate! S 604, Federal Reserve Sunshine Act of 2009 [GT] [OC], is that bill. and it currently has no co-sponsors! time to change that. here’s how:

  • go to faxZero, which lets you send 2 faxes per day for free. put your name and email into the “Sender Information” box (it’s important to use a valid email, as you will be sent a confirmation which you have to click before the fax will be sent).
  • download this pdf. attach it to the “Fax Information” section in faxZero, and enter the Confirmation Code.
  • find Senators which are NOT currently co-sponsors of this bill (here are Virginia’s Senators).
  • go to your Senator’s official website and find the contact page. find the fax number for their Washington D.C. Office, and copy and paste it into the “Receiver Information” box in faxZero after putting their name into this section.
  • HERE ARE NAMES AND FAX NUMBERS FOR VA SENATORS:
    • Senator Mark Warner at 2022246295
    • Senator Jim Webb at 2022286363
  • click “Send Free Fax Now”! you will receive a confirmation message in your email – click it. congrats! you have just contacted your Senator about one of the most important issues facing our government today…
  • send another one to your other Senator. then, tomorrow, send two more. keep sending until every Senator in the nation gets the message!

UPDATE: there is another Senate Bill “to require the Board of Governors of the Federal Reserve System to publish information on financial assistance provided to various entities, and for other purposes”: S 513.

walking the line

Wednesday, May 6th, 2009

Virginia Governor Tim Kaine proudly signed legislation in March which will ban smoking in all private restaurants; this law goes into effect in December of this year. now, at least on the apolitical surface, one would think I would be all smiles about this law. after all, I have never taken even one puff from a cigarette – I rather loathe the invasive smell of smoke, and the tenacity with which it refuses to let go of my clothing after a night on the town. I find appalling the CEOs of big tobacco, who knowingly market their product to youth, because every soul they win will score thousands of dollars over their lifetime. I abhor the physical damage tobacco does to the mouth, gums, teeth, lungs. most personally, I was affected by the cancer it gave my mother, whom God graciously gave the strength to fight off this horrible disease (at least for now), but who has not yet found the strength to kick her addictive and deadly habit.

but after all these things, I am at odds with Governor Kaine for a multitude of reasons. first, this law takes responsibility and choice away from the individual. many of us enjoy going to bars and restaurants – but who is forcing us? if smoking in a bar is an ingrained atmosphere of that bar, then so be it. should we be barred from eating fish in a seafood restaurant, if the smell of fish is repulsive to some customers? NO! those customers can find somewhere else to eat, where there is no fish!

but most importantly, I loathe the continuous government intrusion into the private sector. as the individual consumer has a choice, so should the individual business owner. the owner should be free to make a decision on smoking based on what is best for his or her business. anyone who cannot deal with smoke in a particular restaurant can surely find another one which has chosen not to allow smoking on its premises. and if such a restaurant cannot be found, one is free to start their own restaurant which enforces such rules, as there is clearly a market for it! such is the beauty of capitalism.

this law was surely made with good intentions, but it walks the line right on the edge of that slippery slope. it encroaches on the liberties of one citizen (the business owner) for the liberties of another (the anti-smoker); this idea is against the fundamental nature of a Republic. could we eventually see a ban on smoking in any business? that does not seem far-fetched after a bill of this nature is passed. could we eventually see a ban on smoking in your own home? certainly that seems ludicrous. but one must consider this possibility: what if your business is run from your home?