Jul 10

“Conservative” Writer: FBI “secretly” saved us from “ISIS” on the Fourth of July

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I don’t know whether to write this post about the FBI’s claims or about the knee-jerk column of Matt Vespa, a self-styled “conservative” writer and Republican Party loyalist.

In a column entitled, “FBI: We Stopped ISIS-linked Fourth of July Terror Plots” (found here), Vespa cites CNN for the proposition that “we now know that the FBI foiled some” terrorist plots that were “ISIS-linked.”

Of course, the FBI (and the NSA, etc.) are widely known to falsely brag, lie and exaggerate about how they “secretly” protect us from terrorism. (As many cynical observers are aware, a great deal of “terrorism” is itself undercover-agent-inspired or even “false-flag” in nature.)

Every in-depth analysis and investigation that has attempted to pin down the claims of government regarding its alleged protection of the homeland from terrorism has found that the government’s claims are outrageously exaggerated. Most of us know that if any government official had actually accomplished any such thing in “secret,” government politicians would immediately hold press conferences and trumpet the details to the heavens for hours if not days.

Like so many “conservatives” before him, Vespa reveals a discomforting state-worshipping streak. “I’m sure more details will follow with this development,” Vespa says. “For now, nice work, guys.”

Jul 09

ACLU’s Ira Glasser: attempts to overturn Citizens United with a constitutional amendment are “willfully, intellectually dishonest.”

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Ira Glasser, long one of the ACLU’s most important legal advisers and litigators, spoke at an event put on by the Center for Competitive Politics entitled “Citizens United v. FEC after Five Years – Should Liberals Support Citizens United?” The video is here.

Glasser excoriated those on “the left” for calling for a constitutional amendment to limit the First Amendment in response to the Supreme Court’s 2010 Citizens United decision. “The key question,” said Glasser, “when you’re contemplating speech restrictions . .. is ‘who’s going to get to decide?’” (Video at around 3:45.)

“It’s going to be whoever has political power.” Video at 4:00.

Glasser continued: “It is politically and strategically the stupidest thing I have ever seen any group of Americans, whatever their political ideology propose.” Video at around 8:40.

Glasser also attacked the New York Times coverage of Citizens United. “the Times coverage in their editorial pages, in their columns and in their news coverage, has been willfully, intellectually dishonest.” 17:50.

Jul 09

Britain proposes fiscal restraint

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Socialism is a curse that should be wished only on one’s enemies. Any society that embraces it will become sick and weak.

In the wake of the default of Greece and the loss of one-third value of the Chinese stock market, world financial advisers appear to be proposing some rare fiscal restraint.

In Britain, the majority party has–after years of reckless spending on welfare and government programs–proposed a budget that will slightly taper government spending over the next five years. The story is here.

Among the budget proposals is a proposal to limit the British inheritance tax to estates over $1.5m for married couples, to freeze working-age welfare benefits for four years, and to convert an expensive program that pays students to go to college from a grant program to a loan program.

Chancellor of the Exchequer, George Osborne, “cited the Greek situation as evidence of the need to balance the books.”

Jul 08

Rousseau: Only those who “seek command” can be reduced to obedience

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The great Enlightenment writer and thinker Rousseau once wrote in his DISCOURSE ON THE ORIGIN AND FOUNDATION OF INEQUALITY that “[I]t is very difficult to reduce to obedience one who does not seek command.”

In order to be free, in order not to be a slave, one must first renounce the desire to be a master.

True freedom is the condition of being “neither master nor slave.”

Ann Hartle, “Montaigne’s Radical Conservatism,” pages 19-28 in Modern Age: A Quarterly Review, Fall 2013, Vol. 55, No. 4.

Jul 08

Economies are being corrected around the world

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Ludwig Von Mises was one of the most far-thinking and insightful economic thinkers in history. Mises studied the economy of Russia when communism was riding high; and Mises concluded it was only a matter of time before its Soviet economy melted down.

Mises correctly calculated that below-natural-interest-rate lending by government central banks created unhealthy business cycles. Such below-natural rates incentivized debt rather than savings and capital accumulation, and prompted businesses (like governments) to overextend and make foolish investment choices.

Today the whole world operates according to versions of Keynsian central banking.

Greece–having indebted itself to the European central bank and spent foolishly on welfare and socialistic entitlements–is melting down and defaulting. The Chinese stock market is reporting it has lost one-third of its value in the past month or so.

U.S. federal policymakers have plunged America some $18.3 trillion in debt (while U.S. GDP is no more than about 17 trillion). At the beginning of the Obama administration the debt was $10.67 trillion.

This debt is hardly the fault of Obama alone. It wouldn’t exist without the agreement of Republicans in Congress.

Jul 07

Chinese Government-Owned Newspapers Telling Readers: “Don’t Panic!”

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Here’s a tip: When governments give investment advice, you should generally do the very opposite. Governments worldwide are gorged on massive debt and teetering from decades of Keynsian economics. There is not a currency on earth that is backed by anything but paper.

Now the government-owned newspapers of China are loudly telling readers not to panic, after a 3-week stock-market decline has wiped THREE TRILLION DOLLARS of value from the market. (This is an amount larger than the GDPs of all but a few countries.) The story is here.

PANIC!

Jul 07

Analyst: To become a “one percenter,” get into heavily-regulated industries!

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Analyst Sam Wilkin, who studies the habits of the super-rich, was interviewed for an interesting piece in THE TELEGRAPH. Read it here. Having studied the habits of billionaires and “one percenters” for years, Walkin offers a list of seven general principles for becoming super-wealthy.

The most interesting tip–6th among the 7 appearing near the end of the article–is this tidbit:

Spin complex laws into gold – set up in industries bound by such convoluted regulation – for example agricultural subsidies and banking regulation – that it is easy to bend the rules as nobody understands anyway.

Say that again? We are often lectured by government-trusters that regulation is needed to THWART the mega-rich and redistribute their wealth to the poor. Advocates of government are fond of claiming that DEREGULATION would harm the have-nots.

Now the truth is out. Regulation greatly aids the super-rich; and deregulation would actually help redistribute wealth more equally.

The rapid increase of fortunes of “the one percent” is largely attributable to the growth of government regulation.

Jul 05

YES, THE GREEK GOVERNMENT HAS AN OFFICIAL PLAN TO RAID THE SAVINGS ACCOUNTS OF ITS SUBJECTS TO PAY FOR ITS EXTRAVAGENT SPENDING

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Socialism is a curse we should wish only on our enemies. Any society that embraces it will become sick and weak.

You know you are a prisoner—or a slave—when your prison administrators can reach out and rob your savings account to pay for their lavish lifestyles.

It appears that backroom deals being negotiated by bankrupt Greek politicians and the European Union will likely involve a “bail-in” (as opposed to a “bailout”). All Greek banks were closed last week by government order. People with money in banks were told they could only access a small percentage of their funds. Pensioners expecting government “social-security”-style checks were provided with only a small proportion of their expected support checks.

The Financial Times is reporting that Greek banks are preparing contingency plans to raid the accounts of depositors amid fears the country is heading for financial collapse, “bankers and businesspeople with knowledge of the measures said on Friday.”

“The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.”

The story is here.

Jul 05

Obamacare Causing 20- to 50-Percent Annual Insurance Rate Increases.

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If Americans only had the courage to do nothing, and unleash the power of capitalism on health care, prices would come quickly down so that the poorest consumers could afford quality health care.

Hobos, bums and vagabonds could afford quality health care if the government got out of it. Just look at the telecommunications industry (which is largely unregulated). One can find hobos under bridges with Iphones.

Unfortunately, U.S. policymakers (not the least of whom is the current president) have embarked on a policy of vast regulation and subsidies regarding the health care industry. This increases demand without increasing supply, causing prices to rise. The rising prices cause politicians to promise further government “fixes”–which further cause prices to rise.

Now the New York Times–one of the greatest cheerleaders for Obama’s slave-plantation-style “Affordable Care Act”–is reporting that Obamacare is causing annual rate increases of 20 – to 50 percent. The article is here.

The Times article includes a number of details. It is well worth reading, if only for the laughs.

Prior to Obamacare, rate increases were “only” 15 to 20 percent. This was, of course, faster than inflation. For, like 35 years. Due to government regulations such as Medicare and Medicaid.

Never underestimate the incompetence and evil of the state.

Jul 04

Rising atmospheric carbon dioxide levels are bolstering plant life worldwide.

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Forget what you may have heard from your teacher, your professor, your politician or your pope. Rising CO2 levels in the atmosphere are greening the planet–not desertifying it.

Environmental scientists report in a newly published peer-reviewed study that satellite measurements of global plant life contradict assertions by governments that global warming is causing deserts to expand, along with devastating droughts. The findings, published in Geophysical Research , show that rising carbon dioxide levels appear to have caused a remarkable 11 percent increase in foliage in arid regions since 1982.