Tuesday, March 31, 2009

Is Capitalism Dead? Are We Moving Toward Socialism? I'm leaning towards "YES". Here's Some Highlights.

With President Obama pushing his Socialist Agenda and the backing of people like Nancy Pelosi, Harry Reid, Barney Frank and Charlie Rangle to name a few, we are going towards becoming a Socialist country. When government begins taking ownership of businesses, bailout mania and pushing nationalized health care— the answer is clearly yes.

I constantly watch the news, search the internet and I am passionate about being an American. I cannot help but shake my head every time I listen about some new bailout, President Obama wants this and that, and the Democrats enormous pork-filled spending bills disguised as "stimulus".

If you looked at my previous post, the Bush Administration and others WARNED of the market and Barney Frank pretty much shrugged it off (I love that Bill O'Reily called him out, search video on YouTube).
Now he's trying to get legislation to cap all salaries on companies that didn't even get bailout money and is deemed as "an impact on the economy". The government wants to control how much you make now!! Fuck that.

As Alan Reynolds wrote, "Politics and economics mix badly, like oil and water. Those with the most political clout get subsidized or bailed out, while taxpayers bear the costs and risks. In less than a year, the government's contingent debt alone — all those loans, securities and deposits guaranteed by the Federal Reserve, Treasury and FDIC — has increased by more than $3 trillion. If things go awry, guess who pays?

During the presidential campaign, Joe the Plumber became famous for criticizing as "socialist" Mr. Obama's plan to hand out $400 checks to those earning less than $75,000, while raising tax rates and curbing deductions for those earning more than $250,000. Trying to redistribute income through the tax system is what Karl Marx called "vulgar socialism." It doesn't work. When the government takes money from those who earn it and gives it to those who didn't, that discourages both of them from earning more.

Compulsory health insurance isn't necessarily socialism either, but it is compulsion — an intrusion into personal freedom and choice. I eschew Medicare in favor of a health savings account, but suspect that Obama's central planners would rather not leave me that option. Unlike free markets, where the consumer is king, centrally planned economies favor the simplicity of one-size-fits-all uniformity.

An occasional nasty recession is no excuse for runaway federal spending. Even welfare state economies like Sweden have experienced worse recessions than the U.S. Purer socialist economies like Maoist China, or North Korea and Cuba today, avoid booms by keeping the economy in perpetual depression.

The more we drift toward a socialist/fascist state, with the government grabbing a larger share of our dwindling GDP, the more we allow government bureaucrats to decide who shall produce what for whom. Such power is inherently corrupting. The results are always bad".

President Obama's enormous "stimulus" or "spending" bills will create NO new jobs, create over $1 TRILLION in debt each year over the next 10 years more than what was originally planned. See here: http://www.google.com/hostednews/ap/article/ALeqM5hxNsSwJHL9EJObAjj4qPX_ER166gD971T0RG0
The CBO which is the gold standard of measuring the economy and such, said that we would be better off without any of the stimulus than with it. President Obama and his Socialist-Liberal buddies who are running Congress think that by spending, we will get out of this economic problem.

When those bills were announced, he kept using words such as "crisis", "dire times" and it scarred people. The market tanked (and it still is). when you do that, of course people aren't going to spend, they will save. If Wall Street doesn't believe in your agendas, how do you expect companies and the economy to recover?
The recession of the late 70's early 80's that Jimmy Carter caused and Reagan got us out of, WAS a lot worse that today. See here: http://mjperry.blogspot.com/2009/02/1980s-vs-now.html

Jorge-Mario Cabrera, director of education for the Coalition for Humane Immigrant Rights of Los Angeles, said it is impossible to predict with certainty because it is unknown how many jobless immigrant construction workers may leave the U.S., frustrated by the economic recession, before the new spending produces jobs.

He questioned the Center for Immigration Studies' motives.

"Those are fear tactics. … 'The immigrants are here to take your job,' " Cabrera said. "I think that we really should be focusing on economic progress for all."

The government too over AIG and other companies that took bailout money. Chris Dodd a ranking Democrat, wrote into the bill (see here: http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/) to give bonouses to people AIG at the urging of tax cheat Treasury Sec Tim Geuthner (who was the architect of the original tarp as Fed Chair in NY back in September 2008) and our own President. President Obama said as one of his many campaign promises (which he has broken almost all of so far), that he would read each bill "line by line" and get rid of anything that shouldn't be there. Obviously he didn't and the administration and ranking liberals didn't think the American people would notice how much bull was in it. Once it got announced, then they acted all surprised and started playing and acting like crusaders and reacting on behalf of the American taxpayer. We aren't as dumb as you would like us to be people.

After saying he had no agenda to run the auto industry and wanted to help Detroit, with the firing of GM CEO, President Obama runs Detroit. He is making Chrysler sell to an Italian car company Fiat before it can submit it's reorganization plans to the President. Shouldn't he had fired the union head and board of directors too? They are the ones who make decisions for that company and every other privately held company. This is the first time that a president has fired someone and taken over a privately held company. Expect more.

Oh, and when you call the hotline (202-456-1414), they have listed for your guaranteed warranties with GM and Chrysler, just ask for President Obama or Vice President Biden. Because it just directs you to the White House. See here: http://www.whitehouse.gov/CONTACT/

Looking to seize more: http://www.washingtonpost.com/wp-dyn/content/article/2009/03/23/AR2009032302830_pf.html

Closing Guantanamo...BAD idea. Putting a time line of Iraq....bad. adding more troops to Afghanistan....good.

When you have some former and current heads of the EU and Europe (of all people), telling American the ideas that are being put forth are bad, then you know we are heading in the wrong direction. Europe is telling us this is bad. Get it?

Good articles too....http://pajamasmedia.com/michaelledeen/2009/02/12/we-are-all-illiterates-now/


Anonymous said...

Laissez-faire capitalism is for sure DEAD if not on it's death bed as it well should be. Capitalism, as practiced, relies on sustained growth and expansion IS thus mathematically unsustainable. It is not a matter of morality or political ideology but a matter of social and economic physics. A global system of economics where profit and growth are not the motivators must therefore be developed.

Anonymous said...

Love reading your blog and couldn't agree more. I believe even some of those who voted for Obama would now wish to change their vote, given the chance. Wish less people would have been fooled and more would have understood the true impact of their vote.