I Hope All of You Americans Are Looking Forward to Being Servants of the 'Golden Calf'....

As philosopher Etienne de la Boetie wrote in his Discourse on Voluntary Servitude while being a subject of Roman emperors....

Tyrants would distribute largess, a bushel of wheat, a gallon of wine, and a sesterce: and then everybody would shamelessly cry, “Long live the King!” The fools did not realize that they were merely recovering a portion of their own property, and that their ruler could not have given them what they were receiving without having first taken it from them. … The mob has always behaved in this way — eagerly open to bribes that cannot be honorably accepted and dissolutely callous to degradation and insult that cannot be honorably endured.

American fools waiting around to receive back from their overlords what they earned have lost their liberty. But even more disturbing is that a large swath of American society now thinks that somehow they are entitled to this handout. Ask Rick Santelli opined on CNBC on national TV, it about the difference between the people that carry the water vs,. those that drink that water.

I foresee that as the economy adjusts to further downward due to the misappropriation of resources away from productive uses to those determined by the state, that there will be people that are adversely affected through actual confiscation of their work through taxes or due to a lack of opportunity.

Coercion of the state to control will naturally move towards actual violence over the next several years as people take to the streets to protest the loss of what is already rightfully theirs. Governments have no right and particularly the US Government has no Constitutional right to confiscate one's property particularly since it is arbitrarily determined. The confiscation of people's property is especially egregious when the overlords confiscate more of one's individuals property over another's.

As I readhere we either rise and fight or we accept the deadly slide towards serfdom....

This is why we must be ever vigilant to our entering into a state of voluntary servitude. There are real dangers that if we leave it to the next generation to deal with the loss of liberty, they will not even recognize what they no longer have. Diminished liberty will be the new normal, and those of us who believe in limited government, the right of the individual, and the ultimate authority of the people will be left on the fringes of political philosophy. Perhaps that will not be the case, and our children will be the ones embodied with the boldness to act. They will be acting against interests that will be more entrenched and that will make their job more difficult. If we ever determine that we are in fact becoming a servile people, we cannot stand idly by while liberty is dismembered.

This is our parent's legacy the legacy of dead socialism. A socialism that they are forced to support since if they do not, they have no legacy at all.

Nigger, Kike, Mic, Spic, Whitey, Slant, Gook, Jerry......

dirty Harry says....

"People have lost their sense of humour. In former times we constantly made jokes about different races. You can only tell them today with one hand over your mouth or you will be insulted as a racist," the Daily Express quoted him as saying.

"I find that ridiculous. In those earlier days every friendly clique had a 'Sam the Jew' or 'Jose the Mexican' - but we didn't think anything of it or have a racist thought. It was just normal that we made jokes based on our nationality or ethnicity. That was never a problem. I don't want to be politically correct.

And neither do I!!!!!!!

Headlines That Tell the Truth....

59% Still Believe Government Is the Problem

duh.

Americans threw a 'hail Mary' pass by electing the Obamessiah an will regret it profoundly. If they believe that government is the problem, then why do they elect one that will make it even more burdensome? Its one the mysteries of our ages. But Liberals have gotten what they have always wanted, and they must be loving that the US is being punished for being as good as they were for so long. Liberals must be loving the destruction of the American way of life so that now we can be more 'progressive' where one can get abortion on demand, pornography becomes a family event, child molester are 'understood', where gays are more than equal and where the 'elite' get to determine who gets what, when and for what reason. American Liberals deserve exactly what they will be getting now and they too will be totally screwed. They think that they will get something for nothing but it will cost them their souls. I will laugh at every single one of them when they are forced to die in cockroach infested government run hospitals in total hopeless agony. I will lurk over their sweaty death beds and mock them and question if it was all worth it as pass into their personal oblivion. The Obamessiah will not save you then, will he?

Buy a gun.

The SEarch for Shovel Ready Projects for the Porkulus Bill is Now Over.....

Two Things....

The campaigner-in-chief's Renfields tell us that there needs to be shared pain- really, I thought that the only people that will have to pay are those the earn $250k or more- and that deficits are good- really, I have heard all kinds of gnashing of teeth on the deficits that GWB ran up and how great a job Bill Clinton did managing to close the deficit. So what is it? Are deficits good or bad?

Obamessiah.....

These worhippers are so strange. And what is that woman holding on to?

Sociailize Everything.... And Only 2% of Americans Will Have to Pay!!!!!

What is going on in the United States is so absolutely idiotic, it defies description. The empty suit campaigner in chief is claiming that he will socialize medicine, shift massive other spending programs to the Federal Government and only 2% of American will be asked to pay for it. Huh? 98% of Americans will not see their taxes rise while all of these additional responsibilities goes to the 'golden calf' in Washington? It defies common sense.

Well, lets have a look at some information that is provided from the IRS.....

Consider the IRS data for 2006, the most recent year that such tax data are available and a good year for the economy and "the wealthiest 2%." Roughly 3.8 million filers had adjusted gross incomes above $200,000 in 2006. (That's about 7% of all returns; the data aren't broken down at the $250,000 point.) These people paid about $522 billion in income taxes, or roughly 62% of all federal individual income receipts. The richest 1% -- about 1.65 million filers making above $388,806 -- paid some $408 billion, or 39.9% of all income tax revenues, while earning about 22% of all reported U.S. income.

So, first, it is likely that it will be much more than 2% of taxpayers. Governments tend to use unverifiable numbers so that it is impossible to verify or discuss their claims.

So, what we do know, according to the IRS website, (the data is found here) the top 1% earned $1.65 trillion of which, they already pay $408 billion. So, of course, its not the top 1% but the top 2% that the Obamessiah is targeting for his hostile tax policy. But since the IRS does not calculate the total for the 2% we normal non-Godlike and only human people have to look at the top 5%. So the top 5% (this includes the top 1% also) earned $2.8 trillion and paid $522 billion in income taxes. The next 45% totals $4 trillion of of income and they paid $370.6 billion of income taxes. The bottom 50% earns around $1 trillion and pays $31 billion of the income taxes (Wow, it that all? VP Biden may call these people un-patriotic).

So we can see from above that the top 50% of Americans already pay 97% of the income taxes. So, of course, in Willy Sutton style, a bank robber will rob where the money is. Also, by only taking money from a smaller sliver of a population this thief can argue to the others that he isn't harming them. So in order to balance the budget that it not just 100's of billions of dollars out of balance, but trillions of dollars in the hole. So the 5% of top earner in good times earn $2.8 trillion and pay $522 billion leaving a little less than $2.3 trillion to seize. But who is going to work if the government is going to seize their income? How much will these people decide to not bother even trying since the benefit of their work will no longer flow to them? Assuming that in this weakened economy that income falls, how much can the robber-in-chief think that he can take? Assuming that he figure that he can steal another 5% from the top 5% that is only around $150 billion. So in order to seize enough income to make a difference, the Obamessiah has to steal around 25% of current difference between income and taxes paid or around 50% of this groups income. This is in addition to State and local taxes that these people will also have to pay. Good luck your 'rich' people you will not be rich anymore. Haha, you will probably paying around 70% of your income in taxes and probably creating a situation where the after tax income of the 'wealthy' will be less than the next income groups.

But there is a big big problem with punitive taxes on the wealthiest Americans. First, there are large swaths of the wealthy that have already accumulated their wealth. This is very difficult to tax. The people that will pay are the people that are most successful right now. The people that are producing jobs, have created needed or demanded products or invented new things that prove successful or efficient are the ones being asked to foot the bill. The second problem, is that the statistics that I cite above are from 2006, a year in which the economy was booming. The income statistics above are not going to be as robust as they were then. Income for the highest income people will drop massively over the next several years. And finally, by increasing punitive taxes on these people, there is less incentive to try new things and invest in new technologies or develop new products since if these investments are successful, the profits from these ventures will not flow to the risk taker or the person that worked hard to make it happen but to the government through taxes. We will get less innovation and less productivity enhancing behavior.

So, for those of you that think that you are getting something for nothing, hahahaha, you all will get screwed. You all will end up paying and are deceiving themselves, probably willfully that it won't be a mess and a disaster that it seems to be shaping up to be. You will pay, if not directly through hostile tax policy but indirectly through lower average earnings, fewer employment opportunities and slower growth in wealth producing innovations. Just have a look at your 401k, the stock market will continue to dive as inefficient government spending crowds out market businesses and earn a lot less and are forced to pay gigantic increases in taxes.

You people are so stupid. Its sad to see the nation self destructing. Pray to God not to your new Messiah. The Obamessiah is the anti-Christ and he is not only leading you down a path to serfdom and self-destruction but to death. Buy guns, ammunition and Spam.

Passage of the day.....

Can all this work? Can Obama get banks to lend even as he terrorizes them? Can he get the engines of our economy back to work even as he announces that he'll be taking away more of their earnings? Can he persuade the American people to accept bureaucrats deciding their health-care choices? And can his economic stimulus survive a huge increase in the payroll tax on the most productive citizens?

From dick Morris. Americans have become fools. They made a Hail Mary pass by electing a person that has shown no capability or history of managing anything. And he is nominally managing the economy. Actually not, since he hasn't got a clue, he has outsourced that to Nancy Pelosi and the liberal power elite.

We and the world will deeply regret this stupidity.

Spend!!!!!!!!!!!!!!!!

There is an old saying that when one finds themselves in a hole, the first thing to do is to stop digging. So what is the government solution to the problems facing the USA today? Since Americans have over-consumed for decades and have not generated enough savings? Well the 'golden calf' that many Americans now worship is telling the people.... TO CONSUME EVEN MORE! Good idea, feed the fat boy more doughnuts.

The Obamessiah offers that because you happen to be born on certain piece of soil, you do not have to be responsible or have to endure the downside of bad decisions. Big Brother will take care of your problems for you. The USA is on the road to serfdom. Americans from now on, will live to serve the government. The people in Washington will make your decisions for you and you will have to work to feed this monster.

do not pay your taxes. do not sign your tax return. Buy a gun. Take your nation back. Your life and what your earn is yours to do with it what you want to.

Must Watch Interview....

Marc Andreesen that was the founder an creator of Netscape talks here about many different things. Most interesting to me is his commentary on the vitality of Silicon Valley an its ability to recycle assets to create new technologies. Additionally, he talks about the hopelessness facing todays print media.

Obamessiah's Porkulus Bill and Now Bailing Out Individual's Home Mortgages?

Time for another Teaparty....

Rick Santelli, one of my favorite commentators on CNBC goes ballistic and says what needs to be said.....



Socialism does not work. Socialism is rationing and governments create winners and losers, and on balance, there are many more losers than winners.

do not pay your taxes, do not sign your return, we are allowed to be disobedient and take back our country. Bone head Biden says its patriotic to pay taxes. Really? Lets not pay and call that patriotic. If many of us are disobedient, then what are they going to do to us? Put a fence around the country and tell us we are all in jail? What are they going to do, put special doors so that people cannot get out but still allows illegal immigrants to enter? Ha ha ha ha. Obama is the anti-Christ and he has taken over the minds of formally normal people.

Stock guns, ammunition and Spam. We will prevail but its is coming.

Sorry, this is just a cut and paste from another website....

This econmic crisis looks really really bad....

Time Mag: It's Gloomy and It'll Be Worse Ahead

Some excerpts:

A Ford Motor Co. spokesman last week called the auto industry's slump a "depression."

As always, nonwhites have suffered the most from the recession. Herbert Hill, who is in charge of labor affairs at the NAACP, says that unemployment among the black population in some major cities is approaching 30% or even 40%. Says Hill: "For the black community, this is a full-scale depression. Many of the gains that we have made over the past 10 years are being eroded." At the same time, community-action-program funds are drying up.

Some consumers are so alarmed that they are muttering about a return of the Great Depression of the 1930s.

Ford and Chrysler announced massive new layoffs for this month. Automakers now plan to close at least 14 assembly plants and put as many as 230,000 production workers, clerks, accountants and executives out of work, and about 20% of General Motors' U.S. employees will be idle in March.

But the decline is no longer confined to autos and home building, which is down 33% this month, as it has been for most of the last year. In classic fashion, the recession has begun to work its way through the entire economy. Although demand for home freezers is still high, with families stocking up on food to beat rising prices, sales of other major appliances—TV sets, washing machines, dryers, vacuum cleaners—are turning sick, and layoffs are spreading in the plants that make them.

The current recession has also shown a greater capacity to frighten the public than any of the previous postwar downturns. The next report of the University of Michigan's respected Survey of Consumer Confidence, due this week, will show the deepest pessimism about the economy since the survey began in 1946.

Are even harder times coming? Probably. The recession still has some way to go, and though economists fore see an upturn some tune by next year, it is difficult to pick its timing and predict how far down the economy will go before it turns back up. Indeedhttp://www.blogger.com/img/blank.gif, the course of the recession so far is something of a lesson in the hazards of economic forecasting: its length and virulence have surprised almost everyone.

Where's Bottom? In any case, the recession has by now picked up enough momentum to drag the economy lower before it turns up again. Right now, economists are watching closely a decline that is just beginning in spending by companies for new plants, machinery and other capital goods.

MP: This was from the December 9, 1974 edition of Time Magazine, and the article was written towards the end of the Nov. 1973 - March 1975 recession. Note: I altered some of the text above so that the specific time period was not obvious. Notice the distinct similarities to the reporting about today's economy.

Oops. This is 30+ years ago!!!!! Ha ha ha. From here. But the gloom and doom seems pretty bad. And was it government that pulled us out of this past crisis? If it was, then what was it that was done?

Porkulus.....

Liberalism is a Mental disorder......

do liberals treat Christians the same as Muslims and Buddhists?

Keynsian Fiscal Spending does Nothing to Stimulate an Economy.....

Governments can only redistribute money, it cannot stimulate. Governments can only increase national income by making economic decisions that are better than the economy and markets do on their own.

Markets, as evidenced by the declining stock market does not believe in the direction that the government is going. Good luck USA, Americans are on the road to serfdom.

The Effect of the Fake Stimulus Package on American's Economic Liberty....

Worst Recession Since the Great depression?

So, you morons have given the Obamessiah a trillion dollars to solve what? Ha ha ha ha. We will see absolutely nothing form this spending except more pain. As we know above, there is a fundamental difference between the actual worst recession since WWII and this one. This one is a media induced recession that was designed to inject government into every aspect of American life. It will only get much much worse if we allow Washington to do all of this.

The false Messiah will fail to deliver you people.

He is evil and has infected many people that used to be good. Too bad.

The democrats Fake Fiscal Stimulus......

In this case, in particualr, 'fiscal stimulus'= PORK. Nothing more, this is just a simple payback through your pockets of all of the democrats special intersts. Good luck USA now that the fox is in charge of the henhouse!

It was the most expensive piece of legislation ever and signed by the biggest empty suit that ever even came close to the Presidential office. And why did these people have to rush it through Congress? Especially interesting given that they didn't sign it till the following week? What was the rush? Its because the more that people looked at it, the more people realized that it is worse than worthless. There is no rush, since your money is not worth anything. How could it be worth anything if such a large amount can be seized and spent on questionable and sometimes completely partisan stuff?

All I have to say now these days, particularly when it concerns government's increasing intervention in the economy..... Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha... Until we practically shut down the US government, we will continue to suffer. Worried about your job or worried about feeding your family? You should be particularly if you are one of the many that worships the false God in Washington.

do not pay your taxes.

New York man Muzzammil Hassan founded pro-Islam station Bridges TV five years ago to combat the negative public image of Muslims, here...



Maybe, just maybe, the public image of Muslims is being tarnished somewhat by behaviors such as beheading one's wife.

Fake Stimulus Package Will Hurt More Than It Helps....

This wish wish of lame leftist social spending is just bad policy. If it was bad under Bush (I think that this was Bush's failure, that he did not operate government under principled conservative but tried to curry favor with the populace by taking a page out of the Democrats playbook and create new populist spending), then why would an increase in this kind of spending be good under the administration of the Obamessiah? The answer is that it will not be good.



We have dug ourselves a hole and the Democrats answer to this problem is to dig deeper.

Again, the government is borrowing money from the private economy and spending it, think wastefully on a wish list of stupid stuff. One day, we will wake up and figure out that we have behaved badly and need to pay for it, lowering all of our standard of living.

Passage of the day....

Much of the justification for government intervention comes from the assertion that markets have failed. One money manager scoffed at this idea. “The markets are working fine, but they’re giving people answers that they don’t like, so people cry market failure.” Stocks and bonds low? That’s because investors are afraid of a prolonged depression and continued government interference. House in a jobless region of Michigan worth almost nothing? A place with 50% of its former jobs only needs 50% of its houses. There are plenty of former steel towns where the price of a comfortable house stabilized at $20,000 decades ago and has barely moved since.

What did these guys want the government to do? Nothing, basically. “Back in the 19th Century, there were a lot of steep crashes, guys got wiped out, and the economy came back quickly.” What’s different now? The government is a lot bigger and more powerful. Rich companies and people can put some of their wealth into lobbying and demand that the government prevent them from getting wiped out (or at least slow the process).

Government interference begets more interference. Private investment in the US economy will not restart until government has flailed around for a while and finally stop. Governments should not capriciously redistribute wealth. Its a big loser and this 'stimulus' plan is the mother of losers.

Predicted Many Years Ago....

Government-guaranteed home mortgages, especially when a negligible down payment or no down payment whatever is required, inevitably mean more bad loans than otherwise. They force the general taxpayer to subsidize the bad risks and to defray the losses. They encourage people to “buy” houses that they cannot really afford. They tend eventually to bring about an oversupply of houses as compared with other things. They temporarily overstimulate building, raise the cost of building for everybody (including the buyers of the homes with the guaranteed mortgages), and may mislead the building industry into an eventually costly overexpansion. In brief, in they long run they do not increase overall national production but encourage malinvestment.

~From Chapter VI "Credit Diverts Production" in Henry Hazlitt's "Economics in One Lesson," first published in 1946

This mis-allocation of national resources was exacerbated through other subsidies such as the mortgage interest tax deduction and the government meddling in the banking system forcing banks to underwrite and hold sub-prime more risky loans.

Passage of the day....

Dear America, please remember how you got to be the wealthiest country in history. It wasn’t through protectionism, or state-owned banks or fearing free trade. No, the formula was very simple: build this really flexible, really open economy, tolerate creative destruction so dead capital is quickly redeployed to better ideas and companies, pour into it the most diverse, smart and energetic immigrants from every corner of the world and then stir and repeat, stir and repeat, stir and repeat, stir and repeat.

From Thomas Friedman NYT Op-ed.

Democrats and their prescription of American is to freeze the US in time, where car manufacturers were the biggest industry in the country. Democrats want to make international trade more difficult. Democrats want to restrict highly skilled from entering an working there where they create new companies an employ American workers. In the 1990's over 40% (I cannot remember the exact number)of all new high tech companies were started by foreign born people.....

the U.S. Senate unfortunately voted on Feb. 6 to restrict banks and other financial institutions that receive taxpayer bailout money from hiring high-skilled immigrants on temporary work permits known as H-1B visas.

Democrats want to control your healthcare, they want to control how much people get paid. They want to control what you think, they want to control every aspect of your lives, but they will not tap your phone!!!!! Democrats have caused the end of the great experiment and will make the US irrelevant.

Just In Case You Stoopid Voters Didn't Know.....

You really do not care that this 'stimulus' bill is laden with worthless pork projects that are designed to benefits the politicians and not really the taxpayers of the former United States, now lovely referred to by me as the Soviet States of Amerika.... I knew of this guy Schumer, who is the butt-boy of New York Times publisher Sultzberger, when he was a congressmen from a central Brooklyn district. One can categorize his political philosophy in one simple phrase: Business bad, government good.

Call Al Gore.....

I do not know if this is even remotely meaningful, but cold temperatures recorded as of late would seem to at least be anecdotal if not indicative of falling temperatures not warming ones.....

The National Oceanic and Atmospheric Administration, U.S. Geological Survey and Maine State Climate Office announced today that a minus-50 reading in northwestern Maine held up to scientific scrutiny.

That beats Maine's old record of 48 below zero set in 1925 in Van Buren, and ties the record for coldest temperature recorded in New England. That reading was made in 1933 in Bloomfield, Vt.

The record on New Hampshire's Mount Washington is minus-47.

It seems as if someone should give Al Gore a call to see if he can get back the heady days of mild global warming temperatures instead of these ridiculous freezing ones.

Stupidest Passage of the Month....

Comments by the Obamessiah regarding the 'economic stimulus package'.....

OBAMA: "I know that there are a lot of folks out there who've been saying, 'Oh, this is pork, and this is money that's going to be wasted,' and et cetera, et cetera. Understand, this bill does not have a single earmark in it, which is unprecedented for a bill of this size. ... There aren't individual pork projects that members of Congress are putting into this bill."

From here.

First, just because there isn't an earmark in this does not mean that there there is no 'pork' in it. In fact, an economic stimulus bill, that spends money instead of returning it to the taxpayers to allow them to decide what to do with it, is spent on government priorities. Many government 'priorities' are those of individual legislators to bring the 'bacon' back to their constituents. Bacon is pork, come from the same pig. You can see the exact state-by-state plans for the $900 billion or so here. Lots of garbage in the ones that I looked at.

Secondly, and most importantly to me, claiming that this is a good piece of legislation because there are no earmarks in it is complete crap and just stupid. All of the project spending that was collected and put into this bill are what used to be parachuted into bills as earmarks. There is no need for legislators to put earmarks into this bill since they could put their earmarks directly into it as the body of the legislation. In fact, legislators should not need to put earmarks into bills in the short to intermediate future since they should have put all of the garbage that they wanted into this bill already.

If anyone buys the garbage that these guys are trying to sell to the public, then I am worried for you. The 'golden calf' in Washington is flailing and will not be able to turn around the economy with their devilish plans particularly since they speak doom and gloom everyday. We will regret having this meaningless empty suit as President. He is not a leader.

Passage of the day....

This is probably the worst bill that has been put forward since the 1930s. I don't know what to say. I mean it's wasting a tremendous amount of money. It has some simplistic theory that I don't think will work, so I don't think the expenditure stuff is going to have the intended effect. I don't think it will expand the economy. And the tax cutting isn't really geared toward incentives. It's not really geared to lowering tax rates; it's more along the lines of throwing money at people. On both sides I think it's garbage. So in terms of balance between the two it doesn't really matter that much.

Interview here.

I anticipate that the short lived bounce associated with the extraordinary wasteful 'stimulus' package being forced upon us, will dissipate much quicker than people think. Government cannot create jobs. All that they can do is to create an environment where people's labor, risk taking and innovation benefits those that put in the time, money and effort and they are in no way doing this. This is not being achieved in this pork-barrel spending package that only will delay the inevitable reallocation of resources that will promise to be much more painful the next time around. I expect that like in Japan, where silly government intervention caused the recession there to drag on for more than a decade, that we too will have troubles and government meddling in almost every aspect of life.

And furthermore, why is some of the silliest spending slated for expenditure years from now? Its because its purely political spending on such organizations as ACORN that needs funds to put boots on the ground to support the democrats for the next 2 elections. The whole stimulus is crap.

All told, the US has degenerated into a whimpering mass of simpering beggars looking for their next handout. The old US where hard work and a foundation of family, church and community was the bedrock of daily life, no longer exists. Worship of the new Messiah, the Campaigner-in-Chief that promises hope will only deliver servitude and serfdom. The 'golden calf' in Washington that is now the worshiped deity preferred by atheists and former Christian believers is not equipped to deliver what people need. Good luck to them. I want absolutely no part of it.

I went to the US Consulate yesterday and collected the application for rescinding American citizenship. I will scan it and post it shortly for those that may be of interest.

Who Are They????

Uncle Milton's wisdom is again very very appropriate to consider when thinking about what the leftist government is trying to achieve on the taxpayer's backs....

The Stimulus Porkfest Promises to Lower the Economy....

President Obama's economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.

CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.

CBO estimates that by 2019 the Senate legislation would reduce GDP by 0.1 percent to 0.3 percent on net.

Here. The new Messiah tried to rush the package through Congress since Americans as they got to know more of what is inside of it, stopped supporting it. Actually, the Obamessiah didn't really have much to do with what went into this bill. He essentially allowed Pelosi, Reid and socialist democrats to dump in every special interest and payback favors that the Democrats need to compensate their supporters for the last several years. This is not a economic stimulus bill but a bill whose principle reason for existence is to stimulate government or create big government. This is government at its absolute worst. This is pure form over substance and actually communicates that government has no solutions and continues to create more problems.

In fact, as I have written, the current crisis has the government finger prints all over it. For decades government has:

1. Crafted tax policy to favor consumption over investment
2. Unsustainably increased entitlements for such programs as Social Security leading people to believe that they do not have to save as much for their later years. This is a gigantic negative savings program since none of the payments in by Americans to this program were never actually saved but went directly into consumption.
3. Used private enterprises such as banks, Freddie Mac and Fannie Mae as surrogates to promote social programs such as home ownership for lower income Americans leading to a misallocation of resources into housing instead of other productive enterprises.
4. Promoted tax policies that are hostile to savings relative to income. Why save if it is going to be taxed away?
5. Maintained amongst the highest taxes on companies in the world lowering competitiveness of American companies and workers relative to foreign. This increases offshore employment relative to onshore for those goods and services both consumed by Americans and those that would have been previously exported.

Wasteful Government Pork Packaged as Stimulus...

Here is the king of boondoggle spending that the government is planning to do for the 'stimulus' package.

And for $2 billion in spending, for something totally useless, we do not even generate 200 permanent jobs, for a wonderful $750,000 each job!

Subject: TOP TEN RECESSION QUOTES

1. The US has made a new weapon that destroys people, but keeps the building intact. It's called the stock market

2. Do you have any idea how cheap stocks are? Wall Street is now being called Wall Mart Street

3. The difference between a pigeon and an investment banker: The pigeon can still make a deposit on a BMW.

4. What's the difference between a guy who lost everything in Las Vegas and an investment banker? A tie!

5. The problem with investment bank balance sheet is that on the left side nothing's right, and on the right side nothing's left.

6. I want to warn people from Nigeria, if you get any emails from Washington asking for money, it's a scam. Don't fall for it

7. Obama was asked about the credit crunch. He said it was his favorite candy bar

8. The rescue bill was about 450 pages. President Obama's copy is even thicker. They had to include pictures

9. President Obama's response was to meet some small business owners in the White House last week. The small business owners are General Motors, General Electric and Century 21

10. What worries me most about the credit crunch is that if one of my checks is returned stamped 'insufficient funds', I won't know whether that refers to mine or the bank's.

According to Pollster Rassmussen....

Fifty percent (50%) of U.S. voters say the final economic recovery plan that emerges from Congress is at least somewhat likely to make things worse rather than better, but 39% say such an outcome is not likely.

duh.

Government meddling over the past 70 years is what has created this idiotic crisis and until Americans finally come to their senses, increased government meddling will only make the next crisis all that more painful.

As we can see from the following chart, the present value of difference between social security and medicare payments and the current taxes that support these payments creates a shortfall of about 3 times GDP. 3 times GDP is around $40 trillion dollars.

I think that the catalyst for the next crisis will be the inability of the US Government to borrow money to fund its shortfalls and its current outstanding debt. This will be caused by needs to fund increasing payments under ponzi-like retirement programs like Social Security.

As expenditures start to increase rapidly for social security payments, the government will have to issue more debt to pay for it, since the current surpluses in tax collections will no longer be able to subsidize current government budget expenditures.

So, this represents an additional saving shortfall of $40 trillion in addition to the current debt held intra-government of around $4+ trillion designed to cover these shortfalls.

Anyone that thinks this is doable is completely unrealistic. What will happen, is that later baby-boomers will be forces to work for their whole lives since SS will be unavailable as either a supplemental payment or as a medical insurance system.

We have our parents and grandparents to thank for this mess since they designed it, coerced payments out of us to fund it and didn't allow for changes that align the retiree interests with actual economic performance.

The United States doesn't Exist.....

It is no longer the Untied States but the Federal democratic Republic of Amerika. The government in Washington, has gotten so involved in the daily economic life of the citizens, that it has for a long time, not been a truly capitalist country where resources are allowed to flow to where they make the most sense.

Luckily, there are still people out there, specifically in New Hampshire that realize this and the following legislation is interesting in recognizing more than just the economic meddling, here....

That any Act by the Congress of the United States, Executive Order of the President of the United States of America or Judicial Order by the Judicatories of the United States of America which assumes a power not delegated to the government of United States of America by the Constitution for the United States of America and which serves to diminish the liberty of the any of the several States or their citizens shall constitute a nullification of the Constitution for the United States of America by the government of the United States of America. Acts which would cause such a nullification include, but are not limited to:

I. Establishing martial law or a state of emergency within one of the States comprising the United States of America without the consent of the legislature of that State.

II. Requiring involuntary servitude, or governmental service other than a draft during a declared war, or pursuant to, or as an alternative to, incarceration after due process of law.

III. Requiring involuntary servitude or governmental service of persons under the age of 18 other than pursuant to, or as an alternative to, incarceration after due process of law.

IV. Surrendering any power delegated or not delegated to any corporation or foreign government.

V. Any act regarding religion; further limitations on freedom of political speech; or further limitations on freedom of the press.

VI. Further infringements on the right to keep and bear arms including prohibitions of type or quantity of arms or ammunition; and

That should any such act of Congress become law or Executive Order or Judicial Order be put into force, all powers previously delegated to the United States of America by the Constitution for the United States shall revert to the several States individually. Any future government of the United States of America shall require ratification of three quarters of the States seeking to form a government of the United States of America and shall not be binding upon any State not seeking to form such a government; and

That copies of this resolution be transmitted by the house clerk to the President of the United States, each member of the United States Congress, and the presiding officers of each State’s legislature.

As we may remember, powers not specifically given to to the US central government through the constitution and its amendments are specifically a right of the States. I broadly define the rights and responsibilities of the Federal Government as such:

1. defense
2. international diplomacy
3. system of law (such as civil rights)
4. monetary system
5. maintaining free and fair interstate commerce

Other than these responsibilities, the central government should not be involved in such things as;

1. retirement (Social Security promises to bury the nation in less than a decade)
2. healthcare (Unless the citizens want to have shitty medicine administered by completely incompetent bureaucrats)
3. regulation of industry or banks without the agreement of the States (What has the regulation of the banking industry achieved over the past 70 years? Probably has made the business more risky and fragile)
4. unfunded mandates foisted on the States (Absurdly designed programs that absorb large portions of local governments budgets will insure that these local governments will go insolvent)

Passage of the day.....

Rick: I stick my neck out for *nobody*!
Major Strasser: What is your nationality?
Rick: I’m a drunkard.
Captain Renault: That makes Rick a citizen of the world.

-Casablanca-