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Abuse of Power, big government, capitalism, Constitution, First Amendment, Freedom, history, personal responsibility, rights, taxes

Tea Party Slogans

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Some of the signs from the tea parties across the United States earlier today:

Spread my Work Ethic, not my wealth!

Change…giving freeloaders some of what YOU have worked hard for!

Help me Obama, They want me to work and stuff!

Cut taxes, not deals

What part of “limited powers” do you not understand?

It’s my birthday, and all Obama got me was more debt!

It’s my birthday, and all Obama got me was more taxes!

Why make a corrupt government even BIGGER?

Why should I pay for your bad decisions?

Party like its 1773

Obamanomics – Trickle up poverty

Term Limits for Congress!

A government that robs Peter to pay Paul can always depend on the support of Paul. George Bernard Shaw

No tax cuts for non-taxpayers!

Cut taxes, NOT more deal$

Freedom Works! Continue reading Tea Party Slogans →

big government, Constitution, Doing the Right Thing, personal responsibility, supreme court

Wyden says bill could have prevented AIG Bonuses

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At the Huffington Post, Democrat Senator Ron Wyden is quoted as saying that had “that legislation [a large tax on bonuses] been passed it would have been a very strong disincentive to anybody paying out bonuses in the future.”  Wyden did vote against the major bailouts, but appears to have voted for the “stimulus.”

Let’s recall a few facts:

1. The “Stimulus” Bill that both Houses and the President approved included provisions authorizing the bonuses.  Perhaps if Congress READ their Bills they would not be able blame someone else when people do what Congress is authorized.

2. A large number of people have made the statement, “but it is taxpayer money.”  I agree that it is taxpayer money.

The real question though is whether we want to go down the path of controlling everyone who receives taxpayer money?

However, if we are going to do so, we need to think about the consequences in detail:

a. If you receive food stamps, shall we limit your choices to low-fat food?  Soda?

b. If you receive Medicare, how much of your life can we control?  Pretty much everything since we are footing the bill. Are you over-weight?  Get on the treadmill.  Do you drink?  Stop, we’re going to pay for your new liver.  Like chocolate?  Sorry, diabetes.  Ride a bike?  Put on a helmet!  Like to sunbathe?  Skin cancer, get inside.  It is taxpayer money paying for your vices.  Should the taxpayers be paying and not having input?

c. Are you on Social Security?  What can’t taxpayers control since we’re paying your bills.

Additions:

d. Cash for clunkers?  Hope you aren’t a lead foot!

e. ObamaCare – apply the Medicare rules to everyone!

Trading freedom for the chance to pick someone else’s pocket is a bad idea morally and fiscally.

Abuse of Power, big government, Constitution

“Quantitative Easing” and “Open Market Operations” mean “printing money”

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You may hear the terms “Quantitative Easing” and “Open Market Operations” from the Federal Reserve and wonder what they are.  They sound official and complicated, but are not.  When you get down to the basics, they quite simply mean the Federal Reserve is printing money.

Quantitative easing is a type of monetary policy that increases the money in an economy when the Federal Funds Rate (overnight lending rate) is close to (or at) zero.  The Fed (or central bank) purchases financial assets from banks and other financial institutions using money it has created out of thin air (ex nihilo is the latin jargon).  It is equivalent to “printing money” although it is done electronically so no printing is needed.  Just a push of a few buttons and magically they Federal Reserve says “we now have another $1000 Billion in the bank.”  Nice bank account if you can get it.

Quantitative easing and open market operations are complicated ways of saying that the Federal Reserve (or other central bank) is printing money.  The cost is inflation, or in the worst case, hyper-inflation.  Inflation robs you of the value of your money stealthily and is a hidden tax on your savings (retirement etc) and promised obligations.  Remember that, as Milton Friedman defines inflation, it is a monetary phenomenon – too much money chasing too few goods.

So, now you know the basics of quantitative easing and open market operations, and the risks involved.  Should you trust politicians and the appointed members of the Federal Reserve to manage the value of your money?  Would you find a ruler that changed length daily useful?  When a person is managing the value of the dollar, the value varies every day with the trend down.  Down more than 95% since the Federal Reserve was created.   That is the problem with inflation, a dollar today will be only worth a nickel eventually.

Abuse of Power, big government, Constitution, internet, Obama-Biden

The Democratic Senate Puts Heavy Restrictions on the Internet

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The Democrat controlled Senate is working on a Bill that would give President Obama the authority to shut down the Internet.  This is the so-called Cybersecurity Act of 2009,  S.773 was introduced by Senators Rockefeller, Bayh, Nelson, and Snowe.

The Bill would also give the government access to the digital records from many industries including telecommunications, banking and energy.  All would be under the authority of a cybersecurity czar.

Clamp down on the free speech on the Internet in the event of a need to “protect national security” and there goes the ability to dissent.

Nice.

big government, Constitution, Freedom

Asinine stress tests

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Is this America — when you do what your government asks you to do and then retroactively you also have additional conditions? If we were not forced to take the TARP money, we would have been able to raise private capital at that time [and not need to cut the dividend.]  It is absolutely asinine that somebody would announce we’re going to do stress tests for banks and we’ll give you the answer in 12 weeks.

— Wells Fargo Chairman Richard Kovacevich, March 16, 2009

Welcome to the new America where the Constitution is ignored.  Which of the first Ten Amendments hasn’t been gutted or ignored?  Only the 3rd.  Talk about a disgrace.