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Sunday, February 24, 2013

Democrat/Socialist Party Newspeak

In 1984, his novel about left-wing collectivist tyranny under Big Brother, George Orwell coined the term Newspeak to designate the government’s use of words and phrases to mean whatever the government wanted words to mean.  The aim was to keep Big Brother’s subjects confused and afraid to do or say anything on their own.  As in Thomas Hobbes’s “Leviathan,” the sole source of power was to be the sovereign’s sword, and the principle of political order was continual fear of sudden and violent death.

Robert Curry explains how the Democrat/Socialist Party uses Newspeak.

Thursday, February 14, 2013

Econ 101 - Higher Price Means Lower Demand

President Obama called for a higher minimum wage in his State of The Union address.  That sounds good to the great majority of people, who don’t understand even the basics of economics, but it will harm the people whom he intends to help.

Wednesday, February 13, 2013

Foul Weather Debt Forecast

CBO Report Finds Historically High Debt Persists Throughout the Decade

Tuesday, February 12, 2013

Obama’s Misérables

The Worst Five Years Since the Great Depression, by Peter Ferrara on the Forbes website.

Wednesday, February 06, 2013

Obama Enlists Scientific Fraud To Further Socialistic World Government

The president manifestly is an ignoramus with regard to economics, as evidenced by his deficit-spending stimulus programs and other economic interventions that have produced the longest major recession and debauching the dollar since FDR’s Great Depression in the 1930s. 

He suffers the same deficiency regarding science.

Sunday, February 03, 2013

Abandon Hope All Ye Who Live Here

Obama still intends to destroy Judeo-Christian faith to clear the way for imposition of the secular religion of socialism.

Read Birth Control Mandate Revised by Default, Not Design on the Fiscal Times website.

Quote:

This new “modification” only applies to the scale of the insult to religious liberty and practice, rather than retreating from it entirely.  HHS continues to impose yet another cost on businesses and insurers at a time when job creation remains stagnant and the economy is contracting.  At the same time, the Obama administration continues to operate on two levels of condescension: presuming to tell business owners what their religious beliefs should be and treating women in the workplace as children who can’t take care of their own birth control needs without a patronizing freebie from their bosses.

The Obama administration may have modified the HHS mandate, but they haven’t modified their arrogance a single whit.


To understand what drives our student radical generation and their progeny, notably Obama, read The Liberal Jihad: The Hundred Year War Against The Constitution.

 

 

Friday, February 01, 2013

ObamaCare Costs

The latest reported uptick in employment is deceptive, because the total number of hours worked declined, even as the number of workers employed rose.

Retail Workweek Hits 3-Year Low In ObamaCare Shift
By Jed Graham, Investor’s Business Daily

 

Barron’s On Fed Monetary Policy

If you are a Barron’s subscriber, read As Stocks Near Records, Why Does the Fed Act as if Times Are Bad?, by Randall W. Forsyth.


Quote:

Only conspiracy theorists would question why the economy had a head of steam, with a 3.1% annualized real growth rate in the third quarter, ahead of the November elections, only to stall shortly thereafter. To be sure, Superstorm Sandy hurt the quarter’s performance, as did the sharpest cutback in defense spending since the withdrawal from the Vietnam War in the early 1970s. Still, real final sales—GDP less inventory swings—decelerated sharply, to a 1.1% annualized growth rate, from 2.4% in preceding quarter.

Leaving aside the trivial, quarter-to-quarter blips in economic indicators, it’s apparent that the Fed’s money printing has failed to trickle down to the broad economy. The turnover of the money supply—its “velocity”—has fallen, offsetting the increase in the money stock.

As writes Leigh Skene of Lombard Street Research in London:

“In America, for example, the drop in money velocity to almost one-third under the lowest recorded prior to 2012 in this monetary series wiped out 5/8ths of the increase in M2 [the broad money measure, consisting of currency, checking and most savings accounts, including money-market funds] in the past five years.

“Most of the remaining M2 growth created inflation. Worse, excess debt growth increasingly levered asset prices up, creating the biggest asset bubble ever, which widened income disparities. The real incomes of the minority that benefited from microscopic interest rates rose and those of the majority fell. Rising debt burdens and falling real incomes for most people reduced real output growth in the 2000s decade to the second lowest in the 22 decades from 1790, according to Hoisington Investment Management. The 1930s was the lowest decade and the 2010s’ average won’t be higher than third-lowest.”

So, to come back to Paulsen’s point, why does the Fed have its policy throttles on “full speed ahead” if all is well? Or does it only appear so because of the monetary inflation produced by the central bank?

The No-Business President

Evidently Obama meant what he repeatedly claimed during his 4-year re-election campaign: “you didn’t build that; socialistic government did it.”  He repeatedly took credit, among other things, for raising petroleum and natural gas production, rescuing and revitalizing the American auto industry, and creating new jobs with “green energy” companies (most of which went bankrupt or remain alive only with Federal subsidies).

Meanwhile the president, plagued with the highest long-sustained unemployment since the 1930s’ Great Depression, ignored advice from major company officers appointed to his Council on Jobs and Competitiveness.  He, as was true of his socialistic predecessor Franklin Roosevelt, is either an economics ignoramus or a president intent upon destroying individual self-reliance and private businesses (note particularly the coal mining industry). 

For Obama the bottom line appears to be reducing everyone to dependency on the socialized political state, in which the driving force for the economy is, not productive employment in free-market competitive businesses, but the Federal Reserve manufacturing trillions of fiat dollars out of thin air.