All finance and politics all the time. Except as otherwise set forth herein on occasion once in a while. Quote of the period is by a singer-songwriter named Jim Reilly: don't ask me for answers, I'm making it all up as I go.
Just like President Bush, this article from CBS News reports that President Obama will not allow detainees designated as "enemy combatants" who are held in Afghanistan to challenge their detention in U.S. courts. Obama's administration says those folks don't have constitutional rights.
A lawyer at the ACLU says Obama has "now embraced the Bush policy that you can create prisons outside the law."
GLENN BECK ON OBAMA'S "STIMULUS" - IT'S A BAD IDEA
I don't know Glenn Beck. I recognize him, of course, and I know he's on FoxNews. But I've never followed him or watched him much. So it was a wonderful surprise to see him having such a candid and useful discussion with Tom Woods - author of the new book "Meltdown" which explains the financial crisis from the perspective of Austrian economics (i.e., truth) - and some other guy whose book is sharply (and accurately) critical of FDR and the "New Deal."
Watch and enjoy.
And please add your voice to the chorus of folks opposed to the spending package for which President Obama is actively fearmongering. It can only make things worse.
Here I've been worried Americans should be fearful of what I thought was our government's trend towards socialism. I've invested a lot of time on that bogeyman.
But now Gary North explains - correctly, I think - that it's too late to worry about what more the socialists might do to us. Because the fascists already have us.
And the fascists HAVE had us for almost 100 years (basically since the creation of the Federal Reserve Bank in 1913).
A couple of particularly juicy paragraphs to whet your appetites:
The American political system has been soft-core fascist for almost a century. Liberals love to call conservatives fascists. The problem is, the liberals are right. Of course, well-informed conservatives like to call liberals fascists, and they are correct, too. Everyone who believes in the efficiency of the so-called government-business alliance is a fascist.
...
We are seeing the culmination of a century of bad economic policies. Academic economists never sounded the alarm after 1936. They did not sound the alarm because they are the paid agents of the State, certified by earlier generations of paid agents of the State. The State has paid for the services of these men and women, and they perform accordingly. They understand the fundamental rule: "When you take the king's schilling, you do the king's bidding."
...
The academic economists say that things will recover. They tell us that it will again be business as usual. They tell us that once we get through this crisis, the American economy will boom once again. They believe in the fascist economy. They believe that government regulation is better than the free market. They believe the government-run, bankruptcy-protected banks, which we now openly have, are better than private, profit-seeking institutions that are not protected by a government-created cartel called the Federal Reserve System. They believe in fascism, and they are going to tell you that everything is fine as the fascist State extends power over every aspect of our lives.
And on the hugely important question - now that we've correctly identified the threat/reality, what are we to do about it? - he says this:
This is why it is important for you to preserve your assets by not believing the official assurances. Put your money where the experts tell you that you should not put your money. You should take your money out of those segments of the economy into which the experts say you should put your money, and will soon boom.
...
You had better adjust your portfolio, your career plans, and your retirement plans accordingly.
Yuck.
I hate !@#$ Illinois fascists.
I also hate Texan fascists, by the way. We had eight years of one.
Also, yes, I realize that the creek jumpers were socialists.
GOVERNMENT "FORCED LENDING" IS A RECIPE FOR DISASTER
President Obama promises forced lending by banks.
There is no case that can be made on economic grounds in support of this.
Americans who support what the government is doing are bringing about their own economic calamity. See this article (seriously, you should read it): Rozeff On Forced Lending Programs.
This excellent article explains precisely HOW government "bailouts" hurt - and will hurt - regular folks.
I am so grateful that people like Professor Rozeff are writing articles like this with today's date because AFTER the devastation is wrought, we will be able to point to people who predicted it. And hopefully at some point we will all benefit from the widespread implementation of liberty.