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Posts Tagged ‘Economics’

If Congress is so Pro-Small Business, then how come they spent $4 Trillion and there are NO new low interest loan programs available from the Gov for business owners, No Tax Cuts, No rules on litigation by Greedy Trail Lawyers, Nothing to help small business owners to create jobs or even stay in business? Congress is in fact Pro-Socialist, Anti-American Capitalist. WAKE UP! Speak Out Before you lose your job.”

This is a Facebook status change Michael Pinson is asking his supporters to use on their facebook for 24 hours. I’m still not exactly sure who he is, but whoever wrote this is tops in my book.

Ok, back to my “avoiding politics/avoiding news” phase!

Julian

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“Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other…..It is between two kinds of deficits- a chronic deficit of inertia, as the unwanted results of inadequate revenues and a restricted economy- or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, produce revenues, and achieve a budget surplus. The first type of deficit is a sign of waste and weakness- the second reflect an investment in the future.”

– John F. Kennedy, 1962

(additional reading… http://www.heritage.org/research/taxes/bg161.cfm )

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“We cannot expect the Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans small doses of socialism until they suddenly awake to find they have Communism.”

–Soviet Leader Nikita Khrushchev, 1959

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A “Sound” Economy?

by Thomas Sowell

(reposted from here.)

“The truest thing that Senator John McCain said during this election campaign is what got him into the most trouble: “The economy is sound.”

“Sound” does not mean bullet-proof. Nor does it mean that everything is going wonderfully at the moment or that nothing needs to be done.

You may be as sick as a dog from having eaten the wrong thing. But that does not mean that you need to have your arm amputated or to receive massive doses of morphine. In other words, your body may be perfectly sound– and radical medical treatment can do more lasting damage than your temporary suffering will.

The political left has always known how to exploit temporary economic problems to create lasting institutions reflecting their ideology. The “progressives” did that during the brief time that America was involved in the First World War, less than a year and a half.

In that brief time, they clamped on all kinds of economic controls and even restrictions on free speech that led to landmark Supreme Court cases.

When the Great Depression of the 1930s brought many of those same “progressives” back to power, led by one of the “progressives” from Woodrow Wilson’s administration, Franklin D. Roosevelt, they brought the same mindset to government again, calling themselves “liberals,” now that the label “progressives” had been discredited by their previous actions.

By the end of the 20th century, “liberals” had again discredited themselves, to the point where they went back to calling themselves “progressives” to escape their past, much as people do when they declare bankruptcy.

Wars, economic crises and other disruptions all provide opportunities for the left to seize on current problems to create enduring changes in the institutions of society. That is what we are witnessing today.

The media have hyped current economic problems to the point where you might think we were heading for a replay of the Great Depression of the 1930s. They have been dying to use the word “recession” but there is a clear definition of recession– two consecutive quarters of negative growth– and we have yet to reach that.

If the meaning of words can be changed to suit political convenience, then discussions become an exercise in futility.

Official data show that the output of the economy in the most recent quarter is down– by less than one-half of one percent– but at last the media have one of those two quarters required to qualify as a recession.

Whether they will get the other quarter that they need, in order to start using the word “recession” legitimately, is another story. In fact, the data-gathering process is by no means so precise that we can expect the one-half of one percent decline to hold up, since such statistics often get revised later.

It is not just a question of being able to put scare headlines on newspapers or alarmist rhetoric on television. Such things are just the prelude to massive political “change” in fundamentally sound institutions that have for more than two centuries made the American economy the envy of most of the world.

If the left succeeds, it will be like amputating your arm because of a stomach ache.

To add to the painful irony, many of those who are most eager to have a massive government intrusion into the market are among those whose previous intrusions into the market are largely responsible for the current financial crisis.

It was the left– the “liberals” or “progressives”– who led the charge to force lending institutions to lend to people whose credit history made them eligible only for “subprime” loans that were risky for both borrowers and lenders.

It started way back in the Carter administration, with the Community Reinvestment Act, and gained momentum over the years with legal threats from Attorney General Janet Reno and thuggery from ACORN, all to force lenders to lend where third parties wanted them to lend. Now we have a bad stomach ache– and now the left wants to start amputating the market.”

– reposted by Julian

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10 Things You Need to Know About Senator Obama’s Tax Proposals

– Julian

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Barack Obama refusing to go to Washington and help fix this economic problem confirms a few things:

1. Obama only knows how to talk about problems. He doesn’t know how to fix them, or does he care to fix them.

2. Obama has never written a major piece of legislation. He doesn’t want to start to help us out.

3. If he’s scared to go back to Washington and actually work (while he currently holds a position that actually calls for him to do that right now), why should we elect him into the TOP position that would call for him to do exactly that?

Obama has never done multiple things at once. He knows nothing about how to juggle.

Plus, this is not McCain trying to get out of a debate. McCain wanted 10 debates, and Obama didn’t want to debate him and only wanted to debate 3 times.

– McCain backed out of only 1 debate in this whole campain (to go to Washington and help Americans by doing his job)

– Obama backed out of 7 debates. (because he’s a chicken and knows he can’t stand on the issues against McCain.) He probably couldn’t hire enough writers to script 10 debates total.

We can debate next week. Obama’s campaign is just sucking wind, running scared and is trying to spin an honest concern on McCain’s part into a false, selfish move.

– Julian

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(4:39:49 PM) Anonymous: what the f**k is going on with McCain and the debate
(4:41:49 PM) Julian: he cancelled it
(4:44:51 PM) Anonymous: what the f**k
(4:44:59 PM) Julian: i think it’s a good move
(4:45:40 PM) Anonymous: i don’t know
(4:45:50 PM) Julian: you know why he cancelled it?
(4:46:00 PM) Anonymous: economic crisis
(4:46:07 PM) Julian: it’
(4:46:12 PM) Julian: it’s a great move
(4:46:24 PM) Julian: take charge on a topic obama leads in
(4:46:50 PM) Anonymous: why now and cancel until when….and to do what
(4:47:03 PM) Julian: show the voting public that he’s more concerned about taking action and helping them in the now, as opposed to being just another talking, do nothing politician
(4:47:21 PM) Julian: now because now is when the debate and law creation is taking place
(4:47:38 PM) Julian: until? until it’s been worked out, unless it takes too long
(4:48:01 PM) Julian: and to do what? to set the point that he cares more about serving us than serving his campaign
(4:48:15 PM) Julian: and it puts obama in bad footing
(4:48:25 PM) Anonymous: let’s see if all that transends to the electorate
(4:48:40 PM) Julian: the electorate get the message loud and clear
(4:48:57 PM) Anonymous: right now they see a candidate losing in the polls calling for a time out
(4:49:04 PM) Anonymous: that is still to be seen
(4:49:22 PM) Julian: i’m a little more optomistic that you are about it.
(4:50:02 PM) Julian: and even if some people see it for self-serving means, it’s still looks better that he’s in the trenches rather than just yammering on about it
(4:51:02 PM) Julian: and now obama is stuck in a hard place. do the same as mccain, and acknowledge that mccain was right on taking executive action… or keep campaigning and look selfish and like a do nothing
(4:51:15 PM) Julian: this is a good, honest move. and voters want that.
(4:52:27 PM) Julian: and they wont see a candidate losing in the polls standing aside and calling time out… the debate he cancelled was a foreign policy debate. a topic mccain dominates obama in.
(4:52:49 PM) Julian: if anything, there was no way mccain wouldnt have come out winning from the debate
(4:56:25 PM) Anonymous: was there a meeting in washigton scheduled for friday
(4:57:25 PM) Julian: i dont know
(4:58:34 PM) Anonymous: was there something scheduled within the next two days that requires a suspension…..why could he not have suspended the campaign on Friday after the debate
(4:59:41 PM) Anonymous: if he wa going to dominate the debate….dominate and then end it with saying that I will susepend my campaign for the next few days to address the economic crisis and ask Obama to join him on live tv
(5:00:14 PM) Anonymous: now that would have been a good move
(5:00:19 PM) Julian: maybe there was something you or i was not privy to
(5:00:46 PM) Julian: but then people would say he just cancelled it and went and helped when it was convenient for him
(5:00:57 PM) Julian: this is a strong message.
(5:01:00 PM) Anonymous: people can say that now
(5:01:08 PM) Julian: no
(5:01:27 PM) Julian: because the testimonies only started yesterday
(5:01:29 PM) Julian: with paulson
(5:01:41 PM) Julian: before that, it was just meetings with bush, paulson, and bernake.
(5:02:18 PM) Julian: and yesterday was when they started the congressional investigation on whether the plan should be enacted or not.
(5:03:04 PM) Julian: and i’ve heard nothing from the left or right suggesting he’s running from a fight with obama
(5:03:35 PM) Julian: mccain has to look genuine. and waiting till after the debate would just look self-serving

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Who needs meeting rooms when you have the internet?

– Julian

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