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Economics

Saturday, June 08, 2013

Bernanke’s Quantitative Easing vs. Historical Fact

Read The Friedmanite Corruption of Capitalism by Thomas J. DiLorenzo in the Mises Daily website.

Posted by Thomas E. Brewton on 06/08 at 04:45 PM
Economics • Welfare-State Socialism • (0) Comments
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Sunday, June 02, 2013

Propaganda vs. Economics

Mike Shedlock notes Intellectual Dishonesty and Insanity By Paul Krugman

Posted by Thomas E. Brewton on 06/02 at 05:13 PM
Economics • Welfare-State Socialism • (3) Comments
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Saturday, June 01, 2013

The Evil Empire Strikes Again

Rate Shock: In California, Obamacare To Increase Individual Health Insurance Premiums By 64-146%

Posted by Thomas E. Brewton on 06/01 at 09:44 PM
Economics • Welfare-State Socialism • (0) Comments
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Wednesday, May 01, 2013

Keynesian Economics And Social Justice

Obama’s proposed tax code revision follows the Keynesian doctrine that derogates saving and it promotes the policy of socialistic redistribution of wealth.

Obama’s War on Successful Americans Hits 401(K)s

Posted by Thomas E. Brewton on 05/01 at 07:21 PM
Economics • Welfare-State Socialism • (0) Comments
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Sunday, April 28, 2013

Mythology Of Economic Illiteracy

Demystifying The Naively Demonized Symbol That Is Wall Street

Posted by Thomas E. Brewton on 04/28 at 10:33 PM
Economics • Media & Opinion • (0) Comments
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Tuesday, April 23, 2013

The End Point of Democrat/Socialist Economic Policies

Obama and his party leaders in Congress are pursuing the same sort of inward-looking policy adopted by Adolph Hitler’s Third Reich. Hitler’s approach was to rearm internally and to annex countries whose economic resources, such as oil, were then being imported into Germany.

Obama’s aim is essentially the same, via different methods: to become self-contained and independent of foreign influences, leaving American citizens entirely at the mercy of Washington’s unelected bureaucrats. Rather than expanding military operations, Obama apparently wants to withdraw the United States from its post-World War II leadership position, partly to support Islamic societies, to which he feels drawn, and to rebuild labor union control of economic activity in the United States.

For example: the “lead from behind” stance in Libya, Egypt, and Syria; abrupt and complete withdrawal of troops from Iraq and Afghanistan; support for uneconomic renewable fuels in lieu of imported petroleum; torrents of regulations by agencies such as the EPA; and aiding labor union efforts to gain control of all industry, service organizations, and governmental institutions, this last by making products manufactured in this country uncompetitive with goods and services produced elsewhere in order to keep exorbitant salaries, medical benefits, and pension plans.

In furtherance of this agenda, the Federal Reserve has flooded the world’s financial markets with fictitious, fiat dollars in order to keep interest rates on Federal debt far below real interest rate levels.

The rest of the world is now fighting back.

Posted by Thomas E. Brewton on 04/23 at 03:29 PM
Economics • Foreign Policy • (0) Comments
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Tuesday, April 16, 2013

A Primer On Gold And The Dollar

Speaking of Money

Posted by Thomas E. Brewton on 04/16 at 08:55 PM
Economics • (1) Comments
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Monday, April 15, 2013

Saving For Your Retirement And For Your Family’s Future Is UnAmerican

President Obama proposes to cure this putative ill and impose liberal-progressive social justice by limiting the amount of savings that citizens may keep in tax-deferred savings accounts. Liberal-progressive social justice, of course, has always meant that citizens should be equally poor and therefore unable to escape from the regulatory power of collectivized government.

Needless to say, once established, the power to limit personal savings will eventually be extended to all economic levels of society.

Forbes Magazine staff writer Robert Lenzner opines on the president’s latest socialistic attack.

Obama Goes Against the Grain of What America Represents

Liberal-progressive-socialist orthodoxy, articulated in Keynesian macroeconomics, preaches that recessions are caused by people who save too much. According to Lord Keynes, it is the duty of citizens to spend all of their income. If people fail to spend on consumer goods, it is the prerogative of government to fill the theoretical void with deficit spending and by increasing taxes.

Following the Keynesian prescription, Federal deficit spending is financed with fiat money created out of thin air by the Federal Reserve. As a powerful disincentive to saving, the Fed has reduced interest rates to levels below the rate of inflation.

From its earliest days socialism has promoted methods of taking from the wealthy and giving to the poor. Henri de Saint-Simon, the first systematic articulator of socialism, believed that government should confiscate all, or a major portion, of a person’s wealth at his death. Within a few decades, as Saint-Simon envisioned it, all wealth would have come under government ownership. Government then would be able to redistribute wealth among its citizens as it saw fit, and no one would be able to resist, because everyone’s livelihood would depend directly upon the whim of the governing elite.

Judeo-Christian morality always has admonished individuals to deal fairly with the poor and to help those in need. But only with socialism has the individual been pushed out of the way by government, which becomes the domineering and all powerful agent for redistributing wealth. In practice, redistribution of income and wealth is a process of rewarding liberal-progressive allies and punishing the opposition.

Judeo-Christian doctrine does not counsel taking from the rich; it aims by moral suasion to induce all individuals, led by their churches and synagogues, to do the right thing and to help the poor and unfortunate.

Back to summary...

Posted by Thomas E. Brewton on 04/15 at 09:59 PM
Constitutional Principles • Economics • Tradition & Morality • Welfare-State Socialism • (1) Comments
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