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Thursday, October 24, 2013

By Federal Standards Obamacare Is A Roaring Success

In private enterprise, failure to generate enough sales or to control costs results in failure. 

In the Federal Government the opposite is true.  Performing a useful service effectively is a secondary consideration, the basic aim being to employ the maximum possible number of people, at the greatest conceivable cost, for the longest imaginable time.  That is the way politicians buy our votes.

Ron Morrissey, on The Fiscal Times website, summarizes the latest Obamacare inconsistencies, incompetencies, and equivocations.

Obama and Sebelius: “The Dog Ate My Homework”

Wednesday, October 23, 2013

Liberal-Progressive-Socialists Just Don’t Get It

Pope Francis Confounds a Journalistic Rat, Unleashed in the Atheistic Press

Monday, October 21, 2013

Constitutional “Scholar’s” Ignorance Of The Constitution

President Obama misrepresents the plain words of the Constitution.  Read the New York Sun editorial: Taking Sides in the GOP

Wednesday, October 09, 2013

Deadly Fruit of Keynesian Economics

John Maynard Keynes, the expositor of his eponymous school of economic theory, believed that inflation was a good thing.  The fundamental thrust of Keynesian economics is justifying the socialist contention that government control of the economy is necessary to attain social justice, i.e., equal incomes, equal property, and equal poverty.  Keynesian style gradual inflation, unlike a bloody Marxian revolution, can destroy upper echelon wealth bloodlessly and gradually.

Presumably those of us not among the liberal-progressive-socialist elite would look only at the fact that salary and wage increases stemming from government deficit spending and Federal Reserve loose-money polices were temporarily making us better off.  Keynes expected that workers would not understand the connection between government’s economic polices and subsequent inflation that diminished in the long run the buying power of the dollars they were being paid in the short term.

The Federal Reserve’s official policy target today is creating enough phony money to hit an annual inflation rate of 2%, a rate that will steal about half the value of a normal working life’s income and savings.

Measured In Gold, The Story Of American Wages Is An Ugly One

Why the Reviled Tea Party Was Right about Obamacare

Read Liz Peek’s assessment on The Fiscal Times’s website.

Thursday, October 03, 2013

Ignore Wall Street

The financial press and Wall Street stock market gurus confidently declare that the Republicans will be “brought to their senses” if the stock market continues to retrench in the face of uncertainty wrought by the government slim-down. 

Members of Congress not committed to worship of the Democrat-Socialist Party’s collectivist control should ignore stock market speculators’ distress and look to the long-term welfare of the real America.  Having gone thus far, Republicans should stick to their guns.

Unhappily, recent history gives stock market speculators reason to believe that Federal policy, particularly action by the Federal Reserve, will kowtow to the stock market, as if that were the real economic heart of the nation.  Supposedly a prolonged market selloff would damage the economy.  The truth, to the contrary, is that the stock market bubble of the past couple of years is to a major extent a creation of the Fed’s easy-money policies.

Beginning in the aftermath of the huge market selloff in October 1987, the Fed under Alan Greenspan, instituted what became known as the Greenspan put: stock market speculators became confident that the Fed would flood the market with low-interest-rate, fiat money to counter any weakness in the stock market.

Since then, and egregiously since the 2007-2008 meltdown of financial, housing, and subprime mortgage markets, the Fed’s only focal point has been levitating the stock and bond markets at whatever cost to the devaluation of the dollar.

Both Greenspan and his successor, Ben Bernanke, have consistently ignored the real deterioration of the economy, as measured by the inflation-induced decline in production of real goods and services and the fostering of low-cost, job-killing imports from China and Southeast Asia.  Bernanke opined that higher stock market prices would somehow create new jobs.  But it hasn’t worked, certainly not as predicted by Bernanke’s Keynesian economic theories.

Meanwhile only the denizens of Wall Street are again becoming fabulously wealthy, feasting on the Fed’s near zero-cost financing.  The rest of the country struggles with high unemployment and family income that is steadily declining in purchasing power as a result of Fed-created inflation to bolster the stock market.

Wednesday, October 02, 2013

Playing Politics vs. Governing

Maybe the nation is better off with Obama playing golf and making speeches to children.  If he were doing his job, however, Obama would have been negotiating in good faith with Republican leaders in the House and the Senate long before the government shutdown.

Obama Snookers GOP into Government Shutdown