Monthly Archives: February 2011
Bernanke is Scared
AP: Dow closes higher for the seventh straight day!!!!!!!!!!!!!!!!!!111
The Dow Jones industrial average closed higher for the seventh consecutive day Tuesday. That’s the longest series of gains for the index since July.
McDonald’s Corp. was the biggest gainer of the 30 stocks in the Dow, rising 2.6 percent after reporting January sales that were higher than analysts expected.
(Read more from news.yahoo.com)
IT’S THE INFLATION, STUPID!
Obama to call for $53B for high-speed rail
President Barack Obama is calling for a six-year, $53 billion spending plan for high-speed rail, as he seeks to use infrastructure spending to jump-start job creation.
An initial $8 billion in spending will be part of the budget plan Obama is set to release Monday. If Congress approves the plan, the money would go toward developing or improving trains that travel up to 250 mph, and connecting existing rail lines to new projects. The White House wouldn’t say where the money for the rest of the program would come from, though it’s likely Obama would seek funding in future budgets or transportation bills.
Obama’s push for high-speed rail spending is part of his broad goal of creating jobs in the short-term and increasing American competitiveness for the future through new funding for infrastructure, education and innovation. (Read more from news.yahoo.com)
My reaction:
Central planners cannot educate, innovate or create jobs. They must destroy before they accomplish.
CNN pushes Muslim Brotherhood angle on Egypt protests
I think the following picture is a much more accurate depiction of the protests:
Rand Paul on the Senate floor — about Compromise
Literature and the Economics of Liberty
KGB Agent Tells You What The Illusion Is
* Most emphasis of KGB is in the area of ideological subversion, active measures and psychological warfare, not the Hollywood spy stuff.
* 4 stages
1) Demoralization. It takes 15-20 years of exposure of Marxism Leninism. The process in the US is completed (as of 1985). Most of it is done by Americans to Americans. A demoralized person refuses to believe contrary information.
2) Destabilization. 2-5 years. Economy. Foreign relations. Defense. In defense and economy Marxist Leninist influence is huge.
3) Crisis. 6 weeks.
4) Normalization. Indefinitely. A cynical expression.
* Leftists, like those in academia, are essential to the process of destabilization. They will then see Marxists Leninists come to power (instead of them), and will turn into enemies.
Latest tally: 733 politically connected employers receive Obamacare exemption.
Last year, we learned that the Department of Health and Human Services (HHS) had granted 111 waivers to protect a lucky few from the onerous regulations of the new national health care overhaul. That number quickly and quietly climbed to 222, and last week we learned that the number of Obamacare privileged escapes has skyrocketed to 733.
Among the fortunate is a who’s who list of unions, businesses and even several cities and four states (Massachusetts, New Jersey, Ohio and Tennessee) but none of the friends of Barack feature as prominently as the Service Employees International Union (SEIU). (Read more from washingtontimes.com)
Peter Schiff: FCIC is a sham!
Fighting El Paso’s crackdown on vendors
Not too hopeful for this case. The government owns the streets and can decide how they are used. Solution: Privatize the Roads!
Social Media
JIDF’s twitter: I urge all supporters to go to reddit.com and register many accounts, learn the system, etc. We’re gonna have some fun w/ Jew haters
The reddit community picked up on this. Here is their discussion.
GOP senator favors cutting US aid to Israel
Tea party-backed Republican Sen. Rand Paul favors cutting U.S. aid to Israel as part of a deficit-driven effort to slash government spending by $500 billion this year, drawing criticism from Democrats and Republicans who argue the U.S. must be unwavering in its support for the longtime Mideast ally. (Read more from washingtonpost.com)
See also: U.S. Democrats and pro-Israel lobbies slam Republican Senator’s call to halt Israel aid
When Money Dies — The Nightmare of 1923 and Its Cause
For a detailed account of the descent of an entire country into despair and barbarism read Adam Fergusson’s When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany.
First published in 1975, republished in 2010, and made available through the Mises Institute, When Money Dies should dispel the notion that the rule of men is superior to the rule of law. Why “the rule of law”? Because it was the violation of the rule of law by governments themselves that supplanted the peaceful, liberal order of a gold-based international monetary system with one in which central banks, at governments’ behest, could print fiduciary media without limit.
The full implication of this change was seen in Weimar Germany, the German people’s first experiment with representative democracy, where civilized society fell victim to the evils of the monetary printing press. For all practical purposes, the German mark was not worth the paper upon which it was printed. Eventually the Reichsbank issued the largest denomination note ever printed in the history of the world, a one-hundred-trillion-mark note, which no one would accept for payment. Be very careful if you believe that it can’t happen today. (Read more from mises.org)