Posts Tagged ‘bailout

02
Nov
08

Liberty’s Best Week Ever!

NO, I am not talking about the impending undemocratic, non-election about to be perpetrated on us a couple of days hence between Wall Street Candidate A and Wall Street candidate A’ This one has been decided already – ordinary Americans have lost, and the banksters have won.

I am, rather, calling attention to the surprising upside to the continuing global financial collapse. The completely deserted checkout lanes today at my local wholesale club underscored the rapid retreat of consumer spending that’s occurring now. What is occurring now in the public intellectual mind is both thoroughly awful, and blindingly brilliant.

Awful, due to the present and future suffering of millions, nay, billions of people around the world, but brilliant, because the fact is that the economic predictive power of Austrian-School economics has been thoroughly vindicated, no matter what stupid, nonsensical things the Keynesians and Friedmanites say. We were right, we told them all what was coming, and they failed to listen. More Important, we have the correct answers.

And, better late than never, even some mainstream journalists, conservative Republicans, and left progressives are trying to re-orient their thinking in the midst of an unprecedented global financial calamity, where suddenly “Liberal” nor “Conservative” (as we have been brainwashed to call Socialist and Fascist policy ‘solutions’) ideas seem to have no discernible relevance at all.

This week two astounding interviews took place, between serious people of the left, and two of the current stars of the Austro-Libertarian movement.

On Thursday, the charming, brainy lefty journalist Rachel Maddow of MSNBC interviewed Ron Paul, focusing on his eerie (not to us of course) prescience on the economic meltdown, and on the significance of his recent campaign, and what it portends for the future of Republican Party as well as the electoral system.

On Friday, Lew Rockwell, founder and president of the Ludwig von Mises Institute interviewed Naomi Wolf on his podcast. This is a MUST LISTEN interview with the principled, thoughtful left-wing journalist. Ms Wolf, author of several books, including “The Beauty Myth”, and more notably “The End of America”, was last heard of in libertarian circles promoting, along with Ron Paul the American Freedom Agenda, calling for an end to America’s belligerent foreign policy and its depredations on domestic liberty.

Listen to her questioning Lew about definitions of libertarianism, and her response to his answers – I half held my breath throughout the unedited 50-minute conversation, waiting perhaps to hear Lew say something to make Ms Wolf ‘fall out of the ether’ as they say in the car business.

He doesn’t, and she didn’t. It is an extended dialog on the principled embrace of universal liberty, in honest, non-agendized terms that will speak to the heart of every thinking, compassionate person on the left, right, or middle. This shows how there is not, and never has been, such a thing as Democrat liberty, or Republican liberty, only Liberty For All.

Do yourself and your loved ones (particularly intelligent, leftish and rightish ones) a favor and get them to listen to this podcast to give them an understanding why you are a principled, onsistent advocate of liberty.

Then go to www.campaignforliberty.com , and get involved.

UPDATE: If you are still, for some unfathomable reason a McCain supporter, PLEASE watch this video of Dr. Paul taking apart McCain’s dumbass foreign policy prescriptions in the St. Petersburg debate;

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02
Oct
08

The Bailout Is Pure Economic Socialism

Hank Paulson Is A Pu$$y

Hank Paulson Is A Pu$$y

Look – I took a BRUUUUTAL beating recently on some mining stocks. If you believe the powers that be, this bailout is the answer to my prayers, a ‘hail mary pass’ that will rescue the markets, refill our home equity and 401-Ks and IRAs, and everyone will live happily ever after.

Even if ANY of it were true, I STILL say DUMP IT. I am standing on principle, on what I know is right, and I’ll be goddamned if I’ll support something so pernicious and evil, even if it would benefit me in the short run.

Because I know what it means. Bailout means socializing losses and privatizing profits. It means massive new inflation, which means more poverty for millions of people around the world, while Wall Street fatcats and the Merchants of Death, who get to spend it first, reap tremendous profits. And, because the government has to spend the money into circulation, it means unprecedented amounts of military spending, and monstrous wars, wars without end.

And it’s empire that creates such horrible things as nuclear weapons and engineered plagues. The anthrax that was used in the only biological weapons attack ever recorded (except for the settlers giving the Indians Smallpox and Syphilis of course) came from the US government lab at Ft. Detrick, MD. The CDC actually sanctioned an Army scientist to reconstitute the 1918 pandemic flu, which killed more people in the aftermath of WWI than the frickin’ WAR did.

This is the kind of madness that is gripping our government. Will you trust your children’s futures to these people?

Even if my balance goes to zero, I defiantly stand and say to the economic fascists “NO BAILOUT – NO WAY!”

24
Sep
08

Hank Paulson’s Taxpayer Takedown Strategy

(CLIP: Leroy Smith Shows How To Set Up An Opponent For A Takedown.)

My local Ron Paul Meetup (yes, it’s still around) has been loosely organizing a letter-writing and phone campaign against the absolutely unconscionable, immoral, illegal, undemocratic bank-bailout billĀ  that Treasury Secretary Hank Paulson (R, Goldman-Sachs) dragged up the steps of the Capitol the other day.

One writer suggested this emphasis, I thought it good enough to use, initially;

“I am writing to strongly discourage you from supporting the Treasury Secretary Paulson’s “bank bailout” proposal. This bill will ensure the indentured servitude of Americans for generations to come as it will become increasingly certain that the US will never be able to service is debt obligations. Why should I as an honest and responsible citizen be required to bailout the willfully negligent behavior of executives in the financial industry?

Moreover, I find Section 8 of the proposal particularly disturbing:

Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

This bill in effect makes Secretary Paulson a “Financial Dictator” subject to no Congressional oversight and no judicial oversight. He is immune from any future prosecution with respect to his appropriations of bailout funds.”

Later I remembered what my old wrestling coach taught me about executing a takedown, that the most effective setup is often one where you use your opponent’s own reaction to help you execute the move, so I wrote this;

This bill must be defeated, not modified.

This is a classic setup, a case of action – reaction – action.

If you wrestled in high school or college, you will, upon reflection realize that the Paulson proposal is in part a ‘set-up’ for a financial takedown.

They tie us up with the banking implosion.

Push us (and our representatives) with this unbelievably egregious proposal.

We (and our congresscritters) push back (“we want mortgage forgiveness, salary caps, blah, blah, blah”).

Paulson and Bush then drop down and “Fireman’s Carry” our asses up into the rafters, and down onto the mat – 4 points, and a pin to win.

We never ever see it coming.

Hank’s real goal is to ensure that the bad debt is bailed out at ‘face value‘, instead of at a steep market discount. This will cost further trillions of dollars (money that we do not have) and prevent market prices of the underlying assets from correcting for years, if ever. The bankers will escape completely unscathed, while the taxpayer watches his money rot.

This is why the proposal must not be modified, but defeated utterly.

If the banking system, and our fiat economy, is ready to collapse, then we must Let It Fall.