PolifrogBlog

There is no free in liberty.


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Saturday, October 29, 2011

The Not So "Dark Demand" of Subsidies...

polifrog


The rising  price of education  seems to keep a permanent place in the news. Why is it happening?

Just as an object approaching the speed of light incurs the cost of increased mass and energy requirements,  the closer to free a scarce thing becomes, the higher its social cost.

But ask some economists what the roll  subsidies play in the rising cost of education is and this is the sort of answer you get:

The subsidy doesn't drive up demand, it increases quantity demanded in a movement down along the demand curve. An increase in demand would indeed drive up price, but that's not what's happening here. The increased quantity demanded happens precisely because the subsidy drives the student's price downward.

The argument put forth above  expects us to accept that demand is represented by what the consumer (student) pays  when  the producer (education) charges and gets one price while the student pays a different and lower price. The reality, though, is that when the price paid by a student drops with the introduction of a subsidy, the subsidy offsets that drop in price as far as the whole of the market is concerned. The result is no change in the real price, hence no slide down the demand curve and no commensurate increase in quantity demanded.  However, there remains an apparent change in price to students which widens and deepens the market for education. The result is a shift in the demand curve and an increase in tuition prices for society as a whole.

The economist's  myopic focus on student price creates a "dark demand" for education that is represented by the dollars society spends subsidizing schools.

There is no dark demand.  Let's watch subsidies in action:

  1. You and I walk into a bar.
  2. You want a beer, but $10 is too much.
  3.  I offer to cover half your beer.
  4.  $5 bucks sounds good to you; you say OK.
  5.  Before leaving we give the barkeep $10 for the beer. (at this point many economists argue that the price of beer is $5, what you pay for your beer, while ignoring the fact that the barkeep took in $10.)
  6. Let's assume my offer to cover half the price of each beer is extended to all those individuals in the bar for not just that night but all nights that follow.
  7.  Word spreads.
  8.  The barkeep is charging $10 for each beer, yet more people want his beer.
  9.  Eventually his bar can't accommodate all the customers for his beer and he concludes $10 is too low.
  10.  The barkeep raises the price to $15 per beer.
  11.  I now pay $7.50 and the customer pays $7.50.
  12.  People are still flowing into the bar because the beer is still a bargain.
  13.  So, the barkeep concludes he needs to raise the price to $20 per beer.
  14.  I now pay $10 and the customer now pays $10.
  15.  Finally bar traffic settles down again.

Now imagine in the scenario above you are a student,  my name is subsidy, the barkeep is a school, and the beer is an education. 

Observations:

  • Students initially pay less for education (beer) after the introduction of subsidies.
  • The school (barkeep) sees no change in price after the introduction of subsidies.
  • From the point subsidies are introduced the price of education (beer) rises to what the students are able to bear. (a point we a rapidly approaching today)
  • The school (bar) is the primary beneficiary of subsidies over time.
  • Subsidies never cause the cost of education (beer) for the student to rise above its cost prior to the introduction of the subsidy.
  • The cost of education (beer) doubles for society as a whole. 
  • This is not true just of beer and education, but all subsidized goods.


For the producer the effect of a subsidy on the price charged for a product  is nil. If price does not change there can be no movement along the demand curve and, hence, no change in quantity demanded. Therefore any increase in customers can only be explained as an increase in demand.

The "dark demand" of subsidies is not so dark.

Just as an object approaching the speed of light incurs the cost of increased mass and energy requirements,  the closer to free a scarce thing becomes, the higher its social cost.





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Schiff / West ...

polifrog



View socialist mythology in action .
No trust in a free market of individuals, no trust in humanity...





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With No Shame...

polifrog


Crockett Keller:



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Sunday, October 23, 2011

Saturday, October 22, 2011

Quick Comment:

polifrog


Occupy is the left's phony imaginings of the Tea Party come real.



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EPA Vs. DOE On Electic Car Milage Standards - And the EPA Plays Politics...

polifrog




Forbes:

The end result is startling.  Using the DOE’s apples to apples methodology, the MPGe of the Nissan Leaf is not 99 but 36! Now, 36 is a good mileage number, but it is pretty pedestrian compared to the overblown expectations for electric vehicles, and is actually lower than the EPA calculated mileage of a number of hybrids and even a few traditional gasoline-powered vehicles like the Honda CR-Z.

...

The only reason not to use this standard is because the EPA, and the Administration in general, has too many chips on the table behind electric vehicles, and simply can’t afford an honest accounting.  In the private sector, this is called accounting fraud and a number of high profile executives are in jail for doing something similar.

Social policy should not be divined by the few within our rogue EPA, but the many within a free economy.




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Ask Not What Keyes Can do For You, But What Austerity Can Do For Your Nation...

polifrog




 Skype and Sensibility:

In the middle of this year, two rating agencies, Standard & Poor's and Fitch, upgraded Estonia's credit rating. The country had a budget surplus of €115 million in the first two quarters, and it is expected to virtually balance its budget for the entire year. Government debt is about 6.6 percent of the gross domestic product, as compared with 120 percent in Italy, 160 percent in Greece and 80 percent in Germany. In the first two quarters of 2011, the Estonian economy grew at an annualized rate of 8 percent.
...

"But when we had finally escaped from Soviet socialism, we were sick and tired of government centralism. We wanted precisely the opposite in all respects: We wanted a transparent state. A country that isn't constantly intervening, nationalizing businesses, placing a bureaucracy above everything and imposing rules on people in every respect."

...

"I don't want to pass judgment on Germany or Greece. All I can say is that Estonia is contributing its part of the bailout fund, even though our average income is smaller than that of the Greeks. And that, by the way, is a bitter pill to swallow for many Estonians."

...

Estonia finally joined the euro zone this January. The euro had always been the country's declared goal. In the last few years, starting in 2008, the Estonians had fought their way through the worst economic crisis they had ever seen, triggered by the global financial crisis and the bursting of the local real estate bubble. The economy shrank by 14 percent in 2009.

Then three things happened. First, the government announced a harsh austerity program. The government bureaucracy was thinned out, healthcare and social services were cut back, and even the streetlights in Tallinn were switched off at 3:30 in the morning. Businesses reduced wages by up to 40 percent, with the promise they would be increased as soon as the economy improved. The government did not pump borrowed funds into the economic cycle. Instead, it did what economists call internal devaluation.

The second -- and oddest -- development here was that the Estonians stoically accepted these measures. There was no unrest and no protests.

The third thing that happened was the positive outcome of this blood, sweat and tears strategy. Last year, Estonia easily satisfied the Maastricht criteria. In fact, its government finances were sounder than anywhere else in the European Union.

The US was once an Estonia, but unfortunately according to Nixon we are all Keynesians now.




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Friday, October 21, 2011

Should the Fed be Driving Investors From Low-Risk Investments Toward Riskier Investments?

polifrog



Behind the WSJ paywall:

Fed officials believe their past purchase programs helped to lift stock markets, by driving investors from low-risk investments toward riskier investments.


And from Ron Paul in the WSJ:


[The Fed] fails to see that the price of housing was artificially inflated through the Fed's monetary pumping during the early 2000s, and that the only way to restore soundness to the housing sector is to allow prices to return to sustainable market levels. Instead, the Fed's actions have had one aim—to keep prices elevated at bubble levels—thus ensuring that bad debt remains on the books and failing firms remain in business, albatrosses around the market's neck. 
The Fed's quantitative easing programs increased the national debt by trillions of dollars. The debt is now so large that if the central bank begins to move away from its zero interest-rate policy, the rise in interest rates will result in the U.S. government having to pay hundreds of billions of dollars in additional interest on the national debt each year. Thus there is significant political pressure being placed on the Fed to keep interest rates low. The Fed has painted itself so far into a corner now that even if it wanted to raise interest rates, as a practical matter it might not be able to do so. But it will do something, we know, because the pressure to "just do something" often outweighs all other considerations 
 What exactly the Fed will do is anyone's guess, and it is no surprise that markets continue to founder as anticipation mounts. If the Fed would stop intervening and distorting the market, and would allow the functioning of a truly free market that deals with profit and loss, our economy could recover. The continued existence of an organization that can create trillions of dollars out of thin air to purchase financial assets and prop up a fundamentally insolvent banking system is a black mark on an economy that professes to be free.


And that is why the Fed has been disastrous for our nation. 

We are already in a depression brought on by government (via the fed.) manipulating the money supply such that borrowing became irrationally cheap, then imposing irrationally low lending "fair-lending" practices on financial institutions and having gone so far as to remove legislated barriers to irrationally low lending practices, our government created a financial bubble from which it absolved the financial industry of the moral hazard of irrational lending.

What was the common theme between the Fed's low interest rates, government mandates to lend to the risky, and government's dismantling of barriers to risky lending?

The common theme was to put cheap money in the hands of the citizenry so that they could help propel the economy forward through spending.

Keynesian roots, diseased fruit.


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Some Occupiers Are More Equal Than Others...

polifrog



While in Charlotte for business I drove by the Occupy encampment. There were around 20 tents, but I only saw around 5 people. Admittedly, it was only a drive by. I assume individual occupiers come and go.

Apparently no one is in charge at these things a one is at risk of being booted if caught tapping the send key.

CBS Charlotte:

Thomas Shope, 47, credited with helping to organize “Occupy Charlotte,” was exiled from the group for claiming leadership.

A YouTube video broadcasts the group’s reasoning with an automated voice speaking over classical piano.

“Some of your actions have compromised the reputation, motivation and unity of the protesters of the ‘Occupy Charlotte’ movement,” it starts.

One wonders if they all entered the message at Youtube with a unified tap of the enter key.



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Remember That Obama Campaign Against the Bush Doctrine?

polifrog



Well, it was just campaigning.

While Obama ran against the Bush Doctrine during his campaign, he is now the driving force behind the regime change. And although Hussein's occupation of his home country ended under Bush, Kadaffy's occupation of his home country ended under Obama. Obama has his own head to claim.

Walter Russell Mead:
There is one conclusion we ought to draw from the inglorious end of the Great Loon: the Bush agenda in the Middle East is alive and well. The United States is, as Bush and Cheney so forcefully announced, a revolutionary power in the Middle East no longer seeking to prop up the status quo at any cost. (The Saudi exemption still holds.) Regime change remains on the table; the military forces of the United States stand ready to take out thugs whose viciousness has become insupportable, or who align themselves against the vital interests of this country.

What of going forward? Will Obama fully embrace the Bush Doctrine and do the hard work of helping foster democracy in Libya?

As I argued earlier in the year:

Going forward Obama will forced down another predetermined path. He will direct the US to help install a democracy in Libya. If he fails to do so his invasion of Libya will be seen as a failure.

Some presidents engineer events as Bush did through the Bush Doctrine, while others are lead by events. In this case Obama is being lead by the ongoing forces of the Bush Doctrine.







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Keynesian Roots - Diseased Fruit....

polifrog




IBD

... based on the number of toxic loans in the system in 2008, the government was responsible for not just a simple majority, but more than two-thirds. It's quantifiable — 71% to be exact (see chart). And the remaining 29% of private-label junk was mostly attributable to Countrywide Financial, which was under the heel of HUD and its "fair-lending" edicts.



Yes, we are in a depression brought on by government (fed.) manipulating the money supply such that borrowing became irrationally cheap, then imposing irrationally low lending "fair-lending" practices on financial institutions and having gone so far as to remove legislated barriers to irrationally low lending practices, our government created a financial bubble from which it absolved the financial industry of the moral hazard of irrational lending.


What was the common theme between the Fed's low interest rates, government mandates to lend to the risky, and government's dismantling of barriers to risky lending?

The common theme was to put cheap money in the hands of the citizenry so that they could help propel the economy forward through spending.

Keynesian roots, diseased fruit.





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Monday, October 17, 2011

Randy's Right Pulled the Plug?

polifrog



Randy's Right ...out?

I found this by Saint but it links poorly:
PLEASE TAKE NOTICE!!!!! Randy’s Right has shut down folks and fellow patriots. The last words of Randy were that he was going "Galt" A few of his blog members asked him if he would return soon, within days or what was his intentions. H... morePLEASE TAKE NOTICE!!!!! Randy’s Right has shut down folks and fellow patriots. The last words of Randy were that he was going "Galt" A few of his blog members asked him if he would return soon, within days or what was his intentions. However, those questions will remain a mystery.

Hmmm.
Enjoyed the links.





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Saturday, October 15, 2011

So How Is Occupy Greensboro Doing?

polifrog


Can't see Greensboro from the BR Parkway...




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Friday, October 14, 2011

There Was No Tea Party, There is Only Occupy ... Yeah That's the Ticket...

polifrog





Slate:

Suddenly, the issues of equity, fairness, justice, income distribution, and accountability for the economic cataclysm–issues all but ignored for a generation—are front and center. We have moved beyond the one-dimensional conversation about how much and where to cut the deficit. Questions more central to the social fabric of our nation have returned to the heart of the political debate. By forcing this new discussion, OWS has made most of the other participants in our politics—who either didn’t want to have this conversation or weren’t able to make it happen—look pretty small.


Really, the press is becoming an SnL skit:


There was no Tea Party, yeah that's the ticket.
And they never raised these concerns, yeah .... yeeah.
The Tea Party never set these thoughts in motion.
There is only Occupy, yeah that's the ticket...





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Where are Occupy's Attacks on Obama (President Goldman Sachs) for Crony Capitalism?

polifrog



This post comes on the heels of yesterday's post noting a peculiar silence. 

I feel the point should be made that the Tea Party openly loathed Bush and the conservative congress prior to Pelosi and Reid for having spent too much; their concern over excessive spending over shadowing their concern for party.

This is not true of Occupy. Although they point to some valid concerns, blame never falls on democrats. Theirs is a political game first, a source of solutions second.

If Occupy were truly grass roots movement attacking corruption, it would be attacking Obama (President Goldman-Sachs) for crony capitalism as much as the Tea Party attacked and loathed Bush for over spending.

That it does not reveals it to be a political operation having found a cause.






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Thursday, October 13, 2011

If Occupy were truly a grass roots movement it would be attacking Obama as much as the Tea Party attacked and loathed Bush...

polifrog



DC opened the door to political corruption and Obama offered it the EZ chair:


...



So, if Occupy were truly grass roots movement attacking corruption it would be attacking Obama as much as the Tea Party attacked and loathed Bush for spending.

They do not ... astroturfed hacks.




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Tuesday, October 11, 2011

Occupy - The Left's Nervous Breakdown...

polifrog





WSJ:


The left got what it wanted in 2008: a liberal president with a sweeping agenda and big Democratic majorities capable of enacting it. The result has been a great and failed experiment in progressive politics and governance. In due course, one hopes, the left will absorb some lessons--but for now, they seem to be suffering a nervous breakdown.

That is one way to understand why so much of the liberal establishment is rallying behind Krugman's Army, as the "Occupy Wall Street" protests are known. Everything they believe in has failed, so they are turning nihilistic.


Not sure I buy it, but they certainly rattle the tin cup with the best of the left.







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Communist Party Finds Occupy Exciting -- Should We?

polifrog




With friends like the Communist Party Occupy is no friend of mine.  


beforeitsnews:
CPUSA:
This is an exciting time! Thousands of mainly young people have been occupying Wall Street for three weeks already, and the “Occupy Movement” has spread to more than 200 other cities. On Oct. 6 the actions spread to our nation’s capital.

The Communist Party USA (CPUSA) will hold a national teleconference to discuss it:
Arturo Cambron
The Communist Party and the Occupy L.A. Movement

Tuesday, October 11, 8 pm Eastern
Teleconference number: 605-474-4850
Access code: 1053538#


H/T Randy and Joe








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We're Nor For Capitalism, Just Making Money and There are Opportunities Here...

polifrog




What a sad bunch




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Dark Energy, Science's Biggest Mystery...

polifrog


Posted and linked for the image which I think is cool:




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Sunday, October 9, 2011

Science Does not Include Closing off Debate...

polifrog




An opinion in the WSJ has earned derision in some quarters of the scientific community for what they claim is its claim that one experiment in one field of science can be used to question an experiment in another field.

That WSJ paragraph:
5) The science is not settled, not by a long shot. Last month, scientists at CERN, the prestigious high-energy physics lab in Switzerland, reported that neutrinos might—repeat, might—travel faster than the speed of light. If serious scientists can question Einstein's theory of relativity, then there must be room for debate about the workings and complexities of the Earth's atmosphere.

It seems obvious, though, that Robert Bryce did not use the results of one experiment in one field of study to draw conclusions in an unrelated field.

What he did was to compare the treatment of the scientific method in one field of study to its treatment in another field of study based the valid presumption that the scientific method is common between all fields of study.

He notes that in one field science is presumed "settled" while in another it is still questioned.  Thus, it is clear that one field of study adheres to the scientific process while the other raises itself above question. Or said another way: Physics is science; climate science is not.

However, I prefer the conservation of words found in:

If serious scientists can question Einstein's theory of relativity, then there must be room for debate about the workings and complexities of the Earth's atmosphere.






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This isn't an Interview, This is haranguing...

polifrog



The wife thinks little of Rumsfeld ... used car salesman she says. I like him more than a used car salesman:






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OWS - Hippy Bums...

polifrog





I don't know. While one may be late for work, the other is working their tin cup.




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Saturday, October 8, 2011

The Occupy [fill in the blank] Protesters do not Respect Our Nation...

polifrog



In response to a depression brought on by government (fed.) manipulating the money supply such that borrowing became irrationally cheap, then imposing irrationally low lending practices on financial institutions and having gone so far as to remove legislated barriers to irrationally low lending practices, our government created a financial bubble from which it absolved the financial industry of the moral hazard of irrational lending
Occupy Wall Street...


Trashes Wall Street:


Defecates on police cars:


Confuses the flow of corruption:


Supports Warner-Bros by purchasing Guy Fawkes masks:







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Occupy Wall Street -- Who are They?

polifrog





Steyn:
They’re anarchists for Big Government.







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Friday, October 7, 2011

Smile File -- The Joys of Learning a Foreign Language, Idiom Edition...

polifrog



Half my family being German, a German accent means something different to me than it does to most Americans.

Anyway -- Two minutes of pure cultural joy here:







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Thursday, October 6, 2011

As a Gift to the Incoming Republican Senate Majority...

polifrog



The Hill:
In a shocking development Thursday evening, Senate Majority Leader Harry Reid (D-Nev.) triggered a rarely used procedural option informally called the “nuclear option” to change the Senate rules.


Wouldn't this have been more useful to the Democratic Party and its agenda two years ago?






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Occupy Wall Street List of Demands...

polifrog



In response to a depression brought on by government (fed.) manipulating the money supply such that borrowing became irrationally cheap, then imposing  irrationally low lending practices on financial institutions and having gone so far as to remove legislated barriers to irrationally low lending practices, our government created a financial bubble from which it  absolved the financial industry of the moral hazard of irrational lending ... Occupy Wall Street produces this list of demands:

  • Demand one: Restoration of the living wage. This demand can only be met by ending "Freetrade" by re-imposing trade tariffs on all imported goods entering the American market to level the playing field for domestic family farming and domestic manufacturing as most nations that are dumping cheap products onto the American market have radical wage and environmental regulation advantages. Another policy that must be instituted is raise the minimum wage to twenty dollars an hr.
  • Demand two: Institute a universal single payer healthcare system. To do this all private insurers must be banned from the healthcare market as their only effect on the health of patients is to take money away from doctors, nurses and hospitals preventing them from doing their jobs and hand that money to wall st. investors.
  • Demand three: Guaranteed living wage income regardless of employment.
  • Demand four: Free college education.
  • Demand five: Begin a fast track process to bring the fossil fuel economy to an end while at the same bringing the alternative energy economy up to energy demand.
  • Demand six: One trillion dollars in infrastructure (Water, Sewer, Rail, Roads and Bridges and Electrical Grid) spending now.
  • Demand seven: One trillion dollars in ecological restoration planting forests, reestablishing wetlands and the natural flow of river systems and decommissioning of all of America's nuclear power plants.
  • Demand eight: Racial and gender equal rights amendment.
  • Demand nine: Open borders migration. anyone can travel anywhere to work and live.
  • Demand ten: Bring American elections up to international standards of a paper ballot precinct counted and recounted in front of an independent and party observers system.
  • Demand eleven: Immediate across the board debt forgiveness for all. Debt forgiveness of sovereign debt, commercial loans, home mortgages, home equity loans, credit card debt, student loans and personal loans now! All debt must be stricken from the "Books." World Bank Loans to all Nations, Bank to Bank Debt and all Bonds and Margin Call Debt in the stock market including all Derivatives or Credit Default Swaps, all 65 trillion dollars of them must also be stricken from the "Books." And I don't mean debt that is in default, I mean all debt on the entire planet period.
  • Demand twelve: Outlaw all credit reporting agencies.
  • Demand thirteen: Allow all workers to sign a ballot at any time during a union organizing campaign or at any time that represents their yeah or nay to having a union represent them in collective bargaining or to form a union.
These demands will create so many jobs it will be completely impossible to fill them without an open borders policy.

More government! Useful idiots. Every last one of them.




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Wednesday, October 5, 2011

Hey, Palin Dissed Me on the Scoop...

polifrog



Palin says No!

October 5, 2011
Wasilla, Alaska
After much prayer and serious consideration, I have decided that I will not be seeking the 2012 GOP nomination for President of the United States. As always, my family comes first and obviously Todd and I put great consideration into family life before making this decision. When we serve, we devote ourselves to God, family and country. My decision maintains this order...

and on and on.




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Maybe, But I Still Think They Tea Partiers in Denial...

polifrog



I recognize these differences...

The Wall Street protesters and the Tea Party protesters have something in common, a revolt against the biggees each see as taking unfair advantages. The primary difference is that the Tea Party is opposed to the extra-constitutionality of liberal politicians in league with crony capitalists profiting each other at the expense of taxpayers, while the Wall Street protesters base is for more extra-constitutionality to expropriate for themselves the advantages garnered by all those profiting from free enterprise.
Tea Partiers want to keep the products of their labor and earnings, while the Wall Street protesters want government to redirect the products of others’ labor and earnings to themselves and causes of their allies

PRwise, the Tea Partiers had to overcome major media’s reluctance to provide them coverage and its trumpeting of false charges from the left, while the mostly liberal major media have almost instantly favorably or neutrally headlined the Wall Street protesters.

... but these protests seem ready to be co-opted  by Tea Partiers simply showing up. Just look at what some of them say.





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Monday, October 3, 2011

October Scout Popcorn Sale...

polifrog



Hey, I am Trey, it is October and as a Scout that means it is time for me to sell popcorn for my troop. Just click here and enter my scout number [16992498] in the green box to place an order on my behalf.   Trail's End has made a lot of improvements this year. All microwave products are made with canola oil and all chocolate products contain no hydrogenated oils, so there are plenty of healthy, flavorful snacks to choose from.
70% of your purchase will be returned to my unit, my council and my Scout rewards. Online purchases help us fund fun, educational activities and help more kids experience all the things that make Scouting great.

Some quick notes:

  • I am appraised of any sales via e-mail when the above link is used to purchase popcorn and will respond in kind..
  • I do not deliver any of these purchases by hand.  Trail's End ships it to you therefore anyone from any location may support my troop.
  • Your funds go directly to Trail's End.



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    Blue Skies, Everything is Blue Skies....

    polifrog



    Victor Davis Hanson:
    For those with a little capital there is only a sinking stock market. It seems to wipe out more of their 401(k)s each week, as if each month cancels out yet another year of prior thrift. Near zero interest means any money on deposit is only insurance, not any more a source of income. Millions are trapped in their unsold houses, either underwater or facing an end to any dreams of tapping equity by sale.
    In response, the Obama administration — let me be candid here — seems clueless, overpopulated as it is by policy nerds, academic overachievers, and tenured functionaries (cf. Larry Summers’ “there is no adult in charge”). They tend to flash Ivy League certificates, but otherwise have little record of achievement in the private sector. Officials seem to think that long ago test scores, a now Neolithic nod from an Ivy League professor, or a past prize translates into knowing what makes America run in places like Idaho and southern Michigan.

    ...

    The domestic critique of the Bush-Cheney anti-terrorism protocols has been rendered mere partisanship by the Obama embrace or expansion of nearly every element that was once demonized between 2002-8.

    ...

    The spell has now passed; and we are stronger for its passing. There is going to be soon a sense of relief that we have not experienced in decades. In short, sadder but wiser Americans will soon be turned loose with a vigor unseen in decades.





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    NC Rep. Brad Miller -- Tea Partier...

    polifrog


    EyewitnessNews:
    Republican state lawmaker Brad Miller was at the Raleigh protest. He said this is the beginning of efforts to demand big corporations, banks and the rich pay more taxes.
    (screen shot)

    Republican? Whatever, wishful thinking is not the point.

    The central question is ... Who is responsible? Banks have been looting the public treasury via the socializing of their private debt. Their debt is now the debt of the citizenry and lawmakers like Democrat Brad Miller who have lent their votes to the transfer of $13 trillion according to PBS of public money to private interests are responsible.


    Yet in utter denial of his own  responsibility and record of voting public treasury into the pockets of bankers, Brad Miller had this to say: (WRAL)

    "The people who caused the financial crisis (and) the painful recession that we've been through seem to have gotten off scot-free," Miller said. "The people who did suffer were really without blame, and that offends people."

    So, who was doing the marching?

    Protester J.J. Jiang: (WRAL)
    "The taxpayers' money bailed them out and they didn't sacrifice anything, but actually they benefited," Jiang said.

    And protester Tanya Glover : (WRAL)
    Tanya Glover attended the Occupy Raleigh protest at Moore Square Sunday evening. She said she feels like the American people are getting "dumped on" by corporations and Congress.
    "The (bank bailout) money went straight back into the pockets of CEOs and corporations," she said. "We work harder, we get taxed more. The corporations give money to the politicians and the politicians are serving the corporations. The corporations are not people."
    Protester J.J. Jiang and Tanya Glover are  Tea Partiers and don't seem to be aware of it. It does not seem that even the press or Brad Miller are aware of the true nature of theses marches.

    Although these marches may not have have started as Tea Party marches, they certainly are Tea Party marches.








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    Sunday, October 2, 2011