US GDP shrunk 6.2 percent in Q4. That's a lot. All that government interference continues to do significant damage to our economy. The American people understand they will have to pay for government's irresponsible actions, so they reduce their spending in preparation for the inevitable hit.
$350 billion in bailout money hasn't been enough for Citi, which is going back to the trough for $25 billion more. This deal will give the use 36 percent of Citi's shares. The government is demanding change in the Citi board. This is pure fascism. FDR strongly pushed fascism in the US, and Obama is completing the fascist transformation of the US. I'm sure the fascists support this kind of change. They'll probably make the argument that there was no other choice.
Stocks are dropping like a rock again today. Down 105 so far. 119 finally.
Here comes Obama's Iraq withdrawal plan. This is just another piece of evidence that Obama intends to harm America. We're fighting 2 wars right now, one in Iraq and one in Afghanistan. We're on the verge of victory in Iraq, and we have no chance at victory as currently defined in Afghanistan. Any good president would assure the one victory that can be attained in Iraq and stop fighting the war we cannot win in Afghanistan. A bad president would get at least one right. Obama chooses to get both wrong. He's drawing down troops from Iraq faster than military commanders recommend even though we have a status of forces agreement that brings all our troops home by 2011, attempting to snatch defeat from jaws of victory exactly as Democrats did in Vietnam. He's also dumping more troops into Afghanistan with no plan, no change in strategy and no hope of victory, where surely more Americans will die for no gain. Even a bad presidents manage to pick the right policy once in a while. The only way a president can possibly be wrong on every issue is if he intends to be.
Even Reuters reports that Obama's Iraq pullout plan has risks. They might as well be saying prepare for the civil war they kept lying to us about for 6 years to finally happen thanks to Obama.
Mises scholar cuts to the quick again, explaining that President Obama and his team (in fact, all liberals) are the antithesis of classic liberals. He goes on to describe liberal theory and how Obama governs more like a Pharoh than a liberal. He focuses on but doesn't limit himself to economic policy and Obama's stimulus boondoggle, but comes to the conclusion that a state run by a Pharoh like Obama has no incentive to stop the economic crisis. And so he comes back to my contention that Obama doesn't have our best interests at heart.
That essay gets back to what I was saying about a leader making the case that freedom leads to prosperity. We all know that. There's no informed dissent about that. But aristocrats have no incentive to make that case because freedom takes power from aristocrats and transfers it back to the people. That's why no leader from either party has emerged with a clear message supporting freedom other than Ron Paul who was ridiculed out of the debate by the aristocrats.
It makes sense that Keynes's The General Theory would be referenced at a Marxist site. They seem to have much in common.
Mises has a book on 40 centuries of wage and price controls. But liberals always want to try them again, as if they'll finally work.
Boortz breaks down Obama's tax increases specifically designed to harm businesses, investment in America, and domestic energy production. He's forcing businesses, jobs, capital, and companies to leave the country for greener pastures. And I guarantee he will attack those businesses which go overseas as being unpatriotic. Remember Joe Biden telling us it's our patriotic duty to pay higher taxes? We elected a man who hates American and is intent on destroying it, and John Boehner better get his head out of his ass and start fighting this guy tooth and nail for every inch of ground.
I just tried to send Boehner an email to that effect and discovered his office blocks email from districts outside his own. That should be illegal for any representative, but especially for a congressional leader. If John Boehner doesn't give a damn what Americans outside his district think, he needs to resign as Republican minority leader immediately. Boehner is part of the problem in Washington, not the solution.
I called Boehner's D.C. office, and a patronizing staffer didn't care that his government website was the only website that I've been to that blocks people from outside the district from emailing. He wouldn't even listen to me. He kept interrupting me, trying to make me conform to him. Like that staffer was my boss, not vice versa. All he cared about was forcing me to go to some website that is completely unknown by Americans, the minority leader website, a website that wouldn't be discovered except by an infinite number of monkeys, and emailing him from there. It's obvious Boehner is hiding from the American people. Boehner is part of the problem in Washington, not the solution.
Friday, February 27, 2009
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