Over almost a century Bastardized Keynesian Theory has become the Wmap of public spending policy; it has become the dark energy behind our ever expanding national debt, and is at the heart of our current economic malaise.
Gonzalo Lira:
What I do know is, One, a hyperinflationary event will happen, following the crash in Treasuries. Two, commodities will be the go-to medium for value storage. Three, all asset classes will collapse in short order. And Four—and most importantly—civil society will not collapse along with the dollar. Civil society will stumble about like a drunken sailor, but eventually right itself and carry on with a new normal.
WorldNetDaily:
The Obama administration appears to be proceeding with a novel way of financing trillion-dollar budget deficits by forcing IRA and 401(k) holders to buy Treasury bonds by mandating the placement of government-structured annuities in their investment accounts.The requirement to invest private retirement assets has been cleverly buried within plans to create "automatic IRAs" that would mandate employer groups enroll all employees in 401(k) or IRA plans.
A survey conducted by the Investment Company Institute showed more than 70 percent of all households disagreed with the idea of requiring retirees to buy annuities with a portion of their assets, whether that annuity is offered by an insurance company or by the government.
Moreover, 96 percent of households in the Investment Company Institute survey responded that retirees rejected the idea that the government should mandate turning IRA or 401(k) assets into annuities, asserting instead that retirees should make their own decisions about managing retirement assets and income.
With numbers like that is there any doubt our current congress would ignore this opportunity to piss off Americans in an effort to fund their Keynesian Folly?
The idea of our own American government submitting the duly enacted laws of a state of the United States to 'review' by the United Nations is internationalism run amok and unconstitutional.
Miller said that if the Republicans regain control in Congress, they would turn control of the country back to Wall Street and banks and allow them to set the rules to satisfy their interests rather than those of the middle class.
"Their idea is to let the country be run from Wall Street," Miller said. "The financial crisis we had two years ago was a direct result of letting them [Wall Street] write their own rules."
NRO
Regarding spending during his time in office he said, “We have managed to acquire $13 trillion of debt on our balance sheet” and, “in my view we have nothing to show for it.”
The Anchoress:
One of my husband’s friends–hated Bush, loved Obama and defended him vociferously for the first year, less passionately the second–told him over lunch this week that he’s done with Obama and “I never thought I’d say this but I miss Bush. We knew that he said what he meant, even if we didn’t want to hear it. We knew who he was, even if we didn’t like him. And we never had to wonder whether he liked us. He always did.”
The term "garbage patch" does not necessarily mean a visible island of trash floating on the waves, researchers said. Only 62 percent of net tows by ships have contained detectable amounts of plastic.
"What we're collecting are really small fragments of plastic from larger consumer items," Lavender Law explained. "If you're on the deck of a ship, you normally can't even see the plastic pieces."
Each half-hour net tow typically turned up just 20 plastic pieces equivalent to about 0.3 grams in all. By comparison, a U.S. nickel weighs 5 grams.
The vast majority of plastic pieces caught in the net turned out smaller than 10 millimeters, Lavendar Law said.
Washington Rebel:
They have already taken your freedom, your rights. The Constitution has been mutilated by court rulings and bench amendments to the point where it really means nothing. Listen, when a penumbraed right, a thing that doesn't even exist except in the shadows of other words, can allow for the killing of unborn children, but the clear, concise wording of the Second Amendment can not be relied upon to secure your right to keep and bear arms, you have been duped. The Congress doesn't even refer to the Constitution when making laws and doesn't much care whether they have the authority or not. Might makes right and they have the might.
You have to realize that you can not be the hero. There are none in this fight, because you are fighting the authorities. When the signatories of the Declaration of Independence made their mark, they had committed crimes and were hunted as criminals. Everything you might do to secure the blessings of liberty to yourself and your posterity will, by definition, be a crime. This is not a game. I don't care what you do to regain your freedom, you can write, you can protest, you can form groups, you can make pledges and promises, but don't look for support from the people on the train. You are a threat to their blissful scenery. To hide from the truth they will call you a racist, a homophobe, a domestic terrorist, a criminal, a tax cheat. They don't care what is true, they just want you to let them sleep.
"I think issuing a building permit in Manhattan doesn't have a whole lot to do with North Carolina," Rep. Brad Miller, D-N.C., said.
Over almost a century Bastardized Keynesian Theory has become the Wmap of public spending policy; it has become the dark energy behind our ever expanding national debt, and is at the heart of our current economic malaise.“…It also means we are following a Japanese type strategy of hiding the losses and we know what that produces - a lost decade, which is now two lost decades. Your listeners and viewers if they are stock types, look at the Nikkei. It lost 75% in nominal terms and has stayed that way for 20 years. I real terms it lost 85% of its value. This is a really stupid strategy. And it's ours.”
...a Democratic representative from North Carolina who was elected to Congress in 2002, talks straight and understands how big banks can put consumers at peril.From nearly the first lines we are told by the NYT that Brad Miller is "your man" and that whatever follows is NOT HIS FAULT. Yet where was his vaunted understanding of banking and housing prior to the near depression we have been experiencing? Brad Miller's mealy mouthed answer is found later in the article:
A member of the House Financial Services Committee, Mr. Miller concedes that he did not see the financial crisis coming. But he said that several years ago he became aware that increasingly poisonous mortgages were being peddled to consumers.Are these the sentiments of a leader or just a man doing the two-step with responsibility?
Enter Mr. Miller’s bill, the Mortgage Servicing Conflict of Interest Elimination Act. It bars servicers of first loans they do not own from holding any other mortgages on the same property.
This Government intervention in housing market for the laudable goal of "home ownership"...
Redefining an era of financial-market deregulation as "government intervention" is laughable and not worthy of a frog.
Deregulation and government intervention are not mutually exclusive.
Deregulation of the financial industry so that the financial institutions could more easily implement government pushed programs of "home ownership" or "affordable homes" (pick your happy feel-good terms for debt slavery) was simply a means to an end. When governance chooses to incentivize debt even the hurdles it created in the interest of economic safety (regulation) fall away.
When was the last time you heard the government say, or more importantly suggest through law, that saving rather than spending is a positive direction for our nation?
We have been living through a movement in which both parties were in agreement, a movement that was larger than simple regulation.
Spend, spend, spend, it's good for the economy, spend, spend. Debt is good because it allows more spending. Regulations inhibit spending so eliminate them. Spend, spend.This has been Keynesian Economics uncontrolled. There was a saving side to that Keynesian thing, but it was forgotten as it was of little interest to the power-hungry.
polifrog
Polifrog apologizes for prematurely posting the following as a rough draft. Accidents happen.
The implications of the 2010-11 state budget will be felt heavily next year. By relying on more than $1.5 billion of non-recurring federal stimulus funds and $1.3 billion in temporary tax revenue to help balance the 2010-11 budget, North Carolina lawmakers and Gov. Perdue are setting up North Carolina for a major state budgetary crisis in 2011-12. Absent those two significant sources of funding, state budget writers will be facing a revenue hole of $2.8 billion when they reconvene next year to craft the 2011-12 state budget.
According to Moody’s, the average state per capita debt of the 28 Obama states is $1,728 while the average debt in the 22 McCain states is less than half, at $749. This information alone says a lot about voters and their attitude towards government and debt. Voters with a propensity to elect politicians who burden future generations who can’t yet vote with huge debts voted for Obama while fiscally responsible voters generally voted for McCain.
One man drove 12,238 miles across 30 states to scrawl a message that can only be viewed using Google Earth. His big shoutout: “Read Ayn Rand.”
out
Workers lacking in marketable skills, an ongoing continuing lending crunch and mortgage crisis and rising health care costs are conspiring to keep the economy tough and joblessness high.That was the consensus of a round table discussion on jobs and the economy Wednesday at the Women's Resource Center in Burlington.
Resource board members and others gathered to speak with 13th District Rep. Brad Miller, a Raleigh Democrat who represents a northeastern and central swath of Alamance County.
At press time, the recess plans of Reps. Virginia Foxx, R-5th, Mike McIntyre, D-7th, Larry Kissell, D-8th, and Miller remained unclear. They did not respond to requests for their public schedules.[emphasis added]
Polifrog believes all the dollars that have flowed into the economy through this dance will be much harder and expensive to remove after the inflation it creates arrives.
Distortions of news are created not just through misrepresentation, (not the case here) but the omission of salient facts such as:
- Did Brad Miller mention his support for ObamaCare?
- Did Brad Miller explain his lack of support for the free political speech of two individuals through the use of incorporation?
- Did Brad Miller explain why he supports pushing home loans and building loans to contractors (home ownership in Miller speak) when we are already suffering an oversupply of homes?
- Did Brad Miller discuss his resistance to laws that forbade partial-birth-abortion?
- Did Brad Miller explain why he does not want parents notified if their under aged daughter is transported across state lines for an abortion?
- Did Brad Miller explain his lack of support to change DC gun laws after the Supreme Court found them unconstitutional?
- Did Brad Miller explain why he felt it necessary not to protect gun companies and American jobs from frivolous lawsuits?
- Did Brad Miller explain his lack of support for constitutional values as expressed in his lack of support for free speech as defined by the Supreme Court, as expressed in his lack of support for the Second Amendment rights of DC residents, in his lack of support for the individuals right to choose one's health-care?
Much of what is mentioned in this comment is current and could have easily found its way into an objective article that does more than simply parrot Brad Miller stump speeches.
“It’s about politics,” Woolner argues. “It’s so obviously about politics that most folks take that fact for granted. These cases are another way for Republicans to try to defeat a Democratic initiative and score points while doing it.”and Heuvel adds:
The frightening thing here is not that Republicans are so hell-bent on denying basic health care to fellow citizens. Rather, it’s that Woolner is able to write, matter-of-factly, that most people see the politicization of health care as something to take for granted.
According to the live caller poll of 600 likely voters, 40 percent of Democratic voters now have a favorable opinion of Perdue while 28 percent view her unfavorably. Meanwhile, the majority of Republicans continue to hold an unfavorable view of Perdue (23 percent-51 percent). Unaffiliated voters’ opinions are split at a 36-36 percent margin of favorably.
“As we saw last year, it seems that whenever Perdue signs the state budget, her numbers take a hit, especially with the members of her base Democratic voters,” said Civitas Institute Senior Legislative Analyst Chris Hayes. “The scandals within the Highway Patrol seem to be taking their toll on her favorable ratings as well.”
and others such as this, and this, and this, and this, etc... -- Propaganda. State sponsored, tax payer funded propaganda.Ethan Allen plans to expand production at its furniture factory in Western North Carolina and add 90 jobs.
The factory in Old Fort, just east of Asheville, makes dining and bedroom sets and other products.
The new jobs will pay average annual salaries of $26,645, Gov. Bev Perdue's office announced. That's less than the McDowell County average of $27,768. State officials promised the company a grant worth up to $270,000 if it meets its hiring goals.
Gov. Bev Perdue's administration has asked the Federal Energy Regulatory Commission to reject Alcoa's request for a renewal of its license to continue operating the power plants. Perdue wants the commission to rule against Alcoa so that, for the first time in the history of federal power law, North Carolina can recapture the generating facilities from Alcoa.
Voters will elect governors in 37 states this November. Nineteen of those governorships are now held by Democrats, while Republicans sit in the governor's chair in 18 of the states. The Rasmussen Reports Election 2010 Gubernatorial Scorecard shows Democrats solidly ahead in three states, with three more leaning their way. Republicans are running strongly in 14 states, and four more are leaning GOP. Thirteen states are currently viewed as Toss-Ups, including California, Florida, Illinois and Ohio.[emphasis added]
Solid Dem | Lean Dem | Toss-Up | Lean GOP | Solid GOP |
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