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This will help our economy nicely! ( NOT)

Original post made by Perspective on Mar 24, 2009

Web Link

Obama wants EXPANDED POWER beyond what the Admin ALREADY HAS to sieze companies "they" ( whoever is in power) fear are going to go under and "damage the greater economy". ( I have always hated the implication of "for the greater good" comments...implies that ONE person is able to take away from another person against his will "for the greater good". Well, the misused understanding of this phrase has been at the root of much evil, and is at the root of what is driving this economy into the ground.

Ok, we really do have an Obama-Chavez here. Chavez came to power, then grabbed nationalization rights over companies.

This will drive away what little bit of hope and confidence came with the announcement yesterday of building a private-public partnership.

Oh, I know, it will be under the guise of "but if we don't do this, that, x, y, or z, this horror or that horror will happen", but it is all with the same effect, increasing government control and power.

It seems that since he is, at heart, a Marxist, it is impossible for him or anyone else in his Admin to stick with anything resembling individual, capitalism solutions. They made a little stab at it yesterday, but like I said yesterday, who would trust it, knowing what the soul of this Admin is?

There is a new book out by Levin called "Freedom and Liberty, The Conservative Manifesto". He is a Constitutional Lawyer ( a real one). Looks good, going through each of our rights, from free speech to State's rights that are in our Constitution, but which this Party is ferociously tryiing to destroy.

I think I will read it, and I suspect a lot of you should read it, too, to remind you about what has made our country the best, freest, strongest, richest, and longest running democracy in the world.

It wasn't "government".

Comments (30)

Posted by resident, a resident of Adobe-Meadows
on Mar 24, 2009 at 6:17 am

I'm also appalled at the monstrosity of the Geithner plan to spend another $1,000,000,000,000 of taxpayer money to give to private equity firms right after the Fed announced it would also spend $1,000,000,000,000.

The whole world is calling for the replacement of the dollar.

Posted by Perspective, a resident of Midtown
on Mar 24, 2009 at 6:34 am

If you are open-minded and want to read just ONE book to help you understand the "other side" that you aren't getting anywhere else, try reading:

"Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse" Thomas Woods, Jr.

This religious ideology of governmental mucking in economies must be revealed for the damage it is doing, and has always done, to us and nations around the world.

From the Inside Flap which introduces this book:

"Is Capitalism the Culprit?

The media tells us that "deregulation" and "unfettered free markets" have wrecked our economy and will continue to make things worse without a heavy dose of federal regulation. But the real blame lies elsewhere. In Meltdown, bestselling author Thomas E. Woods Jr. unearths the real causes behind the collapse of housing values and the stock market--and it turns out the culprits reside more in Washington than on Wall Street.

And the trillions of dollars in federal bailouts? Our politicians' ham-handed attempts to fix the problems they themselves created will only make things much worse.
Woods, a senior fellow at the Ludwig von Mises Institute and winner of the 2006 Templeton Enterprise Award, busts the media myths and government spin. He explains how government intervention in the economy--from the Democratic hobby horse called Fannie Mae to affirmative action programs like the Community Redevelopment Act--actually caused the housing bubble.

Most important, Woods, author of the New York Times bestseller The Politically Incorrect Guide to American History, traces this most recent boom-and-bust--and all such booms and busts of the past century--back to one of the most revered government institutions of all: the Federal Reserve System, which allows busy-body bureaucrats and ambitious politicians to pull the strings of our financial sector and manipulate the value of the very money we use.

Meltdown also provides a timely history lesson to counter the current clamor for a new New Deal. The Great Depression, Woods demonstrates, was only as deep and as long as it was because of the government interventions by Herbert Hoover (no free-market capitalist, despite what your high school history teacher may have taught you) and Franklin D. Roosevelt (no savior of the American economy, in spite of what the mainstream media says). If you want to understand what caused the financial meltdown--and why none of the big-government solutions being tried today will work--Meltdown explains it all."

Posted by Pesrpective, a resident of Midtown
on Mar 24, 2009 at 6:36 am

BTW, the parrallels between Bush's response this last year and Obama are eerily right on for the Hoover to FDR years.

Those who don't know history are doomed to repeat it. And we are.

Posted by Walter_E_Wallis, a resident of Midtown
on Mar 24, 2009 at 1:08 pm

Walter_E_Wallis is a registered user.

Why would bankruptcy and insolvency have been worse than bailouts?

Posted by resident, a resident of Adobe-Meadows
on Mar 24, 2009 at 1:49 pm

Walter, bankruptcy and insolvency would have been much, much better.

Posted by Peter, a resident of another community
on Mar 24, 2009 at 7:04 pm

resident, your answer is a non-answer. You need to be much more specific; sounds like you're just spouting ideology, not intelligent analysis.

Perspective, the Ludwig von Mises Institute is against democracy, calling it "legalized graft." The organization also seems to be against any form of organized government, basically calling for the abolition of any impediment to unfettered creation of wealth.

It's troubling that you advocate for an organization that seems to have the destruction of civil society as its purpose. How can that stance be justified by anyone with any sense of ethics or morality.

Posted by Perspective, please see this You Tube, a resident of Midtown
on Mar 25, 2009 at 6:09 am

Web Link

From youtube, An incredibly right on public thrashing ON THE FLOOR FACE TO FACE with PM Brown in Britain. I wish this guy could speak here. Britain is still a bit worse off than we are, but we are well on our way and will "catch up" to Britain's current state of horror within a couple years with BHOCHAVEZ's plans in place.

Advise you see it. Just use your good sense, not your rationalizations, and ask yourself what you would think of a Dad and Mom running their family into the ground the way our Pres and Congress is running this country into the ground.

Remember how mad you (we) were at the increasing deficit under Bush, and ask yourself how partisan you must be to now be for wanting to add 10 TRILLION to our national debt AND a quadrupling of our yearly operating budget deficit. Not only are we increasing our debt, but destroying the only people who pay the bill. The top 1% paid 39% of our fed bill until now ( up from 37% when Bush took office, the top 25% paid 86%, the top 50% paid 97%....who is going to pay it after we've finished destroying the money makers?. Who wants their kids paying 90% of their income in the future to pay for our selfish laziness now?

This is not Repub vs Dem, this is parents vs "Want it now at all costs" kids.

Wake up.

Posted by Perspective, a resident of Midtown
on Mar 25, 2009 at 6:20 am

Peter, always a clue when there is no link to back up an "assertion".

Here is the truth, folks

Web Link

"The Ludwig von Mises Institute is the research and educational center of classical liberalism, libertarian political theory, and the Austrian School of economics"

"Everyone carries a part of society on his shoulders," wrote Ludwig von Mises, "no one is relieved of his share of responsibility by others. And no one can find a safe way for himself if society is sweeping towards destruction. Therefore everyone, in his own interest, must thrust himself vigorously into the intellectual battle."

If you go to the site, read the esssay about classic liberalism, and tell us what you think. Try not to glom onto ONE SENTENCE and denounce it all on the one sentence, think about the overall sense and then tell us what you think.

Posted by Margin Call, a resident of Old Palo Alto
on Mar 25, 2009 at 9:04 am

For a man who has never ran a business in his life, Obama now comes forward with this pile of wrong headed thinking. How does this man who concerns himself with micro-management think the government can run a business better than the private sector.

What drives business in this nation is success balanced by the fear failure and bankruptcy is the ultimate business failure. Bail-outs only reward bad behavior.

Here is what's being said about the "Dumbest President Ever"

The president of the European Union slammed President Barack Obama's plans to have the U.S. spend its way out of recession as "a road to hell," underscoring European differences with Washington ahead of a crucial summit next week on fixing the world economy.

And I thought he was going to re-set, re-establish, smooth talk our relationships?

I guess DVD gift pack diplomacy is not going to work-out.

Posted by Hypocritical Perspective, a resident of Stanford
on Mar 25, 2009 at 9:10 am

My, my my,Margin Call aren't we in a bad mood today. Not even willing to give Obama a chance to rectify the mess left behind by Bush. What businesses did McCain run, since you seem to think that is an issue??

You should also note that in response to the Czech leaders comments you alluded to above:
"The blunt comments pushed other European politicians into damage control mode, with some reproaching the Czech leader for his language and others reaffirming their good diplomatic ties with the U.S."

Also now you care about what the Europeans say?? It seems that for 8 years it did not matter what the europeans or the rest of the world think. Could it have something to do with Obama?

As for your personal insults of Obama, that speaks for itself and shows exactly the value of your entire post.
Maybe you are bitter that Obama did not send you a DVD gift pack

Posted by Hypocritical Perspective, a resident of Stanford
on Mar 25, 2009 at 9:11 am

BTW, MArgin Call, this commentary may interest you:
Web Link

Posted by Margin Call, a resident of Old Palo Alto
on Mar 25, 2009 at 9:44 am

Pal, you seem confused. What does McCain have to do with Obama's plan to eliminate bankruptcy as a proper and clear definition of failure?

As for the Europeans, again you seem to be confused. I fully support open an honest diplomacy. Don't you?

The question you need to resolve is when are you going to figure out that Bush is back on the ranch and Obama is now the president?

As for the DVD gift pack, I would give it back and ask that its cost be credited to paying down the national debt.

Posted by resident, a resident of Adobe-Meadows
on Mar 25, 2009 at 10:05 am

If you don't understand the word "bankruptcy" is better than bailout, I need not explain to you why bankruptcy for companies is better than these bailouts. Obviously you are myopic, like most Obama supporters.

Posted by Hypocritical Perspective, a resident of Stanford
on Mar 25, 2009 at 10:17 am

Pal, the fact that you need to resolve is that Obama has been in office for about 2 months--you cannot expect to have solved all the problems that we are dealing with in such a short period of time.
Read the link I posted.
You seem to not understand the points i am trying to make. Too bad.

Posted by Margin Call, a resident of Old Palo Alto
on Mar 25, 2009 at 11:09 am

>>Now the Republicans have what we Texans call the chutzpah to criticize Obama for doing too much.

Funny he dosen't sound very Texan.

In fact it is well known that Paul Begala is a Democratic front man hack for Clinton, and by all beltway accounts he is so dumb he couldn't pour p___ out of his boot if you wrote the instructions on the heel.

Not GOP mumbo-jumbo or Democrat gobbly-gook just a little Texan Talk right back at you, Pal.

Here is another real Texas saying for you, All hat and no cattle, just like Obama's budget.

Posted by Hypocritical Perspective, a resident of Stanford
on Mar 25, 2009 at 11:25 am

Pal--you seem to have a problem responding to criticism to your comments. You seem to believe the way to prove your point is to insult and denigrate the people you disagree with, rather than presenting rational arguments to bolster your points. The latest victim of your bile is Paul Begala. But since you mention "by all beltway accounts"--why don't you back that up by providing us with your beltway sources.
FyI, Begala attended UT-Austin for both his BS and JD degrees, so he has personal experience with Texans (and I am sure he was Texas resident for a time also). But please provide us with the reason you sau he doesn;t sound very Texan.

Posted by resident, a resident of Adobe-Meadows
on Mar 25, 2009 at 11:50 am

Obama has spent 4 times the amount of George Bush in a matter of months than Bush did in all of 8 years. Talk about fiscal responsibility in a time of declining revenues everywhere! Hah!

Debt, debt and more debt is all Americans understand.

Posted by Perspective, a resident of Midtown
on Mar 25, 2009 at 12:44 pm

How can Obama say in one breath "we have to stop the spending and borrowing that led us here" and then quadruple our borrowing and spending? Does he REALLY think that this thinking is ONLY good for private individuals?

He wants to spend us out of a recession and into a Depression.

Europe got what 80% of them wanted, a Socialist who is even more Socialist ( Statist if you prefer that word) than most of their own elected officials. Gotta be more careful what you wish for next time Europe. You are now paying the price with us. They ain't happy with what they got, are you?

May I remind those of you who care to be reminded...70% of the world wanted to bring America down, and 70% of the world wanted first Gore, then Kerry and now Obama.

Next time, go with the smarter 30% who understand that if America goes down, the whole world does, including their part.

In the meantime, I can't help but have a little shadenfreude ( I am not proud of this...) over this mess that Obama, Pelosi, Reid, Frank, Dodd and the media have fanned from a difficulty into a full recession. They are hurting the "bottom" half a lot more than the "top" half. The "top" 1% pay 39% of the entire Fed Bill, the top 10% pay 70%, and the top 50% pay 93% of the bill. As we lose our businesses, and our jobs, or if we are lucky and just take a cut in pay..we see rising unemployment and less Federal income since the top half has less to pay with!...I am sure that is what Obama voters voted for, a repeat of the 30s!

Please note, as i predicted, the DOW has started going back down with the news that Obama's admin is seeking more power to confiscate private businesses. And as the details of the "private-public" partnership become clear that it is nothing more than a Community Reinvestment Act set-up, only this time for banks et al, whereby massive loans won't really have to be paid back to the people.

Posted by Hypocritical Perspective, a resident of Stanford
on Mar 25, 2009 at 1:19 pm

DJIA Up 90 points today--up more than 300 points for the week so far--any more predictions, perspective?

Posted by resident, a resident of Adobe-Meadows
on Mar 25, 2009 at 1:21 pm

So it took the government $2 trillion dollars in more debt to move the Dow 300 points? LOLOLOLOL!!! Whoohoo!

Posted by Hypocritical Perspective, a resident of Stanford
on Mar 25, 2009 at 1:32 pm

Resident--clearly nothing that Obama or his government does will ever please you or cause you admit that he is on the right track. The bottom line is that you will continue on your daily crusade of trashing Obama and his government no matter what happens. Clearly you echo the sentiments of Rush Limbaugh, Fred Thompson and Piyush Jindal that failure by Obama is the only thing that will make you happy
Read Paul Begala's commentary I posted above--he hit the nail right on the head about the republicans and people like you.

Posted by resident, a resident of Adobe-Meadows
on Mar 25, 2009 at 1:34 pm

Hypocritical Perspective, I voted for Obama. LOLOLOL!!! And yes, I will continue to rain on your myopic parade as long as I see fit!

Obama to America - here's your heroin shot of $2 trillion in money we don't have!!! You're soaking it up, HP, you're soaking it up like a lost druggie. LOLOLOLOL!

Posted by Hypocritical Perspective, a resident of Stanford
on Mar 25, 2009 at 1:39 pm

Resident--I see you, like Margin Call, feel the need to resort to personal insults when others question you comments.
Why do you think your claim that you voted for Obama has anything to do with it (I seriously doubt you really voted for Obama--no supporter would sour on him so quickly)--are you saying it to try to justify your continued, daily complaining and whining about Obama. I am sure he is also sorry that he has not managed to turn around and fix everything in 2 months.
BTW, didn't you claim that it was a sure thing that the market would fall to 3000?

Posted by resident, a resident of Adobe-Meadows
on Mar 25, 2009 at 1:46 pm

Yup, I did vote for O. Just goes to show how myopic you are that you cannot understand why anyone who would vote for him would criticize your dear leader. LOL! Geez, once a drunk always a drunk. You simply cannot ssee the other side. I feel sorry for you.

Yup, and I do maintain that we will see Dow 3000 in a few years. Prepare yourself and do not rely on money you don't have.

Posted by Hypocritical Perspective, a resident of Stanford
on Mar 25, 2009 at 1:57 pm

Resident---do you get off on personal insults or are you a legend in your own mind. I guess you must really believe what you say and/or you think people actually take you seriously.
Anyway, I can understand how someone would vote for Obama and criticize him on certain issues now--what I do not understand is someone who claims (and I emphasize claims) that he voted for Obama, would now engage in a daily stream of vitriol against him and those that want to give him a chance (i.e. more than 2 months). It must be that you are afraid that if you do not justify your never ending attacks on Obama, by saying you voted for him, people will dismiss you as a Limbaugh clone

Posted by resident, a resident of Adobe-Meadows
on Mar 25, 2009 at 2:04 pm

Go ahead and dismiss me Hypocritical Perspective because you cannot handle the truth. LOL!

DEBT IMPLOSION. You have no explanation as to how we are to pay this debt? You like it, I see. You love the debt? I see. How impoverishing, and how sad.

If the economy were doing so well, why the need to incur more debt? Why not just let the economy grow on its own accord. And if a company has a failed business model, why rescue it? If you made a bad business decision, do you expect mommy and daddy to rescue you?

I suppose Americans believe China will come in to buy up more Treasuries from fat and greedy recklessly spending Americans. LOL! Whooo, you folks have something comin to ya.

I voted for Obama because I believe in fiscal responsibility, but man, this is way off track!

Posted by Kate, a resident of Crescent Park
on Mar 25, 2009 at 4:01 pm

Perspective - I'm going to go out and buy "Freedom and Liberty. The Conservative Manifesto" and read it because many of the decisions made recently by President Obama and his administration, including this move to expand government power over private businesses, are alarming. Perhaps this is a good starting point in educating me about these issues. It doesn't appear to me to be Constitutional and I hope he backs off this kind of private power play by the government against its citizens. I think he should just stop bailing out businesses and let them go into bankruptcy. It has always worked in the past - remember the Savings and Loan collapse not so long ago.

Posted by resident, a resident of Adobe-Meadows
on Mar 25, 2009 at 5:06 pm

Perspective, this says it all.
Web Link

Posted by Perspective, a resident of Midtown
on Mar 25, 2009 at 6:49 pm

Resident and Kate: You both give me hope for this country after all.

Resident, if you really voted for Obama, and now have your eyes opened, kudos to you for having the guts to admit your error. It takes a lot of guts to openly admit such a mistake. I tell people all the time how sorry I am that I worked on Carter's campaign when I was young, naive and ignorant..and how sorry I am for all the damage he did. There are some things we simply can't undo, but we can certainly fight to restore the freedoms, security, and economy that we destroyed.

You are on the right path. Kate, let me know what you think of the book.

Resident: I love this guy's speech in your link above. Just substitute "President Obama" for "Mr. Brown" and you've got it..

Posted by Walter_E_Wallis, a resident of Midtown
on Mar 26, 2009 at 9:24 am

Walter_E_Wallis is a registered user.

Geez! Ask a simple question...

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