Do The Right Thing

“In a free market, people earn money by working (income) or by saving and investing it (capital growth). But credit-based money needed neither work nor saving; you just had to know the right people. Private banks, aided and abetted by the Federal Reserve, could create as much credit money as they pleased and feed it to their cronies on Wall Street. The new money was then transformed as miraculously as water into wine. For the privileged insiders it was almost free; the Fed made sure of that. But for consumers, it became a heavy burden of debt. And for the economy, it became an inflation mechanism for financial bubbles. The most recent blew when the banking and mortgage industries (part owned by the feds by way of Fannie and Freddie) lent trillions of dollars to homebuyers, who ended up with debt they couldn’t afford for houses they didn’t need. In 1995, the subprime loan market was about $65 billion. By 2007, it had ballooned to $1.3 trillion – a 1,900% increase.” – Bill Bonner

What Bill Bonner was describing in this quote was the economic crisis of September 2008. A remarkably large number of American citizens seem completely unaware of our governments response to this crisis over the last almost nine years: they have re-inflated that bubble and made it three times larger than it was in 2008.

The majority of Americans seem blissfully unaware of this. In a nutshell this is how it works: the Federal Reserve creates credit at a near zero percent interest rate, people with the proper political connections borrow this money for free, they then use this credit to leverage the stock market, by introducing ever more credit into the stock market they drive the prices ever higher. This is what is happening in simple terms. If you are properly connected you can get phenomenally rich for doing absolutely nothing but borrowing money for free.

People with access may also collateralize and rehypothecate the credit. It is free money for those who are connected.

This is the ultimate form of government largesse, crony capitalism, political corruption and getting rich based solely on whom you know.

This is politician’s stealing your money by the trillions and giving it to their friends.

Understand that you the American taxpayer are on the hook for this. We are well down the road to serfdom under these policies and four or eight more years of this and the wealth redistribution to the wealthiest will be complete. A few more years of this and your opportunity to escape the increasing poverty will be diminished to nearly zero.

The saddest part of this is that nearly all the Democrats are either too naïve to understand that this is happening and that this is what they voted for, or they have too much pride and ego to admit that this is what has happened. What you need to know is that each Democrat and most of the Republicans have stated or implied that they would continue these policies.

Each and every politician needs to be questioned on these policies and if they would continue them. Each politician also needs to be asked what their escape plan is if they do not support these policies.

I want people to engage and understand what is happening. I am just aghast at the number of people who have no idea what so ever as to what occurs in their country, yet they vote. These people in Washington truly wish to separate you from your money and divide your money up among their friends. Somehow many people, and nearly all Democrats and Progressives, have decided that this is a wonderful idea.

We need to stop being Democrats and Republicans and start being Americans or we are likely to give away the whole store in the very near future. 93% of Americans are losing net wealth under these policies and losing net wealth at a record setting rate. 7% of Americans are gaining the wealth the other 93% are losing.

93% of Americans should be able to unite and say ‘No more’ to these policies. Put your pride and ego aside and do the right thing.

Other Side Quote Of The Day

Other Side Quote of the Day: ‘“Demographers agree almost unanimously on the following grim timetable: by 1975 widespread famines will begin in India; these will spread by 1990 to include all of India, Pakistan, China and the Near East, Africa. By the year 2000, or conceivably sooner, South and Central America will exist under famine conditions…. By the year 2000, thirty years from now, the entire world, with the exception of Western Europe, North America, and Australia, will be in famine.” – Peter Gunter, a professor at North Texas State University, in a 1970 issue of The Living Wilderness

Cooperation Or Force?

“Justice imposed through power is the philosophical foundation of the political left, and when earnest progressives become convinced the only avenue to power is violence, their tolerance quickly falls by the wayside.” – John Daniel Davidson

This is obviously a problem – but this is only part of the problem. The political left also typically believes that if they do not impose power that power will be imposed upon them. This is actually a much larger threat to peace and prosperity because it is a false rationale which can conveniently be used to excuse almost any behavior the political left wishes to engage in.

The notion of a society operated via voluntary associations and actions is a concept the left rejects.

Several decades ago there was something called the ‘Kirkpatrick Doctrine’. A portion of the Kirkpatrick Doctrine was the assertion that the United States should support nations that retained the means of production in private hands because privately held enterprises are the greatest influencers of freedom. The rationale behind this assertion was that private enterprise requires freedom of speech, freedom of action and freedom of information in order to continue to exist. Requirements by business would then influence all of society toward freedom of speech, freedom of action and freedom of information. History would teach us that there would be many other factors influencing freedom or the lack of freedom but there is an analogy here to the American political left in that the Kirkpatrick Doctrine held that all of the elements of voluntary cooperation must exist in order for private enterprise to thrive – and that voluntary cooperation would then spread to the rest of society.

The very essence of the American political left is the renouncing of all of the elements of voluntary cooperation – freedom of speech, freedom of action and freedom of information. Freedom of speech, freedom of action and freedom of information is the very opposite of the philosophical basis of the left – imposing power on others. Because freedom of speech, freedom of action and freedom of information stand in contradiction to imposing power on others, and the left believes that if they do not impose power on others then power will be imposed on them, they cannot intellectually or morally entertain the concept of a voluntary cooperative society.

The left, as you may’ve noticed, is all about pointing out instances where power was imposed on others. Be it Confederate monuments or what they call Patriarchal novels – the allegation by the left is that history is a power struggle and that if you are not imposing power it is being imposed on you. Many naive people notice the left condemning past instances of power being imposed on others and mistakenly assume the left stands in opposition to power being imposed upon others. If you have read Animal Farm you are familiar with this story – the left is not opposed to power being imposed on others they are opposed to any situation that they themselves are not imposing power on others.

That power imposed on others also requires violence is a detail that the left inevitably chooses to leave unsaid in their quest for imposing power.

What stands against the left is a voluntary cooperative society – liberty. Liberty is a societal model requiring that no one possesses a right to impose power on another. The role of government is preventing one from imposing their power on another. Liberty stands against the use of force – leftist stand foursquare in line with force as a societal and governmental requirement.

Do you wish to live in a society of voluntary cooperation and associations or a society predicated on the use of force?

Choose wisely…

Choose Wisely

The difference in a free market and the various forms of statism is simple and critical: in a free market everything is voluntary and there is no compulsion. In a free market no one makes you engage in a commercial act and no one engages in a commercial act on your behalf without your explicit permission.

 

Let us understand that each and every time that some one attacks the free market what is being attacked is the right of the individual to choose what they will do. Those who attack the free market are proponents of a system that requires the individual to do what other individuals think they should be doing – even if it is against the will and conscience of that individual.

 

At the end of the day this is all that it comes down to.

 

The question to ask anyone who is opposed to the free market is why do you think it is a superior model that people other than yourself are empowered to decide what you should do with your life? Of course that is never the question which people who oppose the free market want to answer, is it? They want to talk about justice and fairness and evil capitalist and all sorts of things other than the one vital question which exposes the whole statist ideology: why do you think it is a superior model that people other than yourself are empowered to decide what you should do with your life?

 

The typical bumbling answer the statist attempt to provide when they cannot escape this question is that people would be selfish, uncooperative, uncharitable, and unfair. All this answer tells us is that people who respond in this manner believe their fellow human beings are trash. One is drawn to questioning if they believe their fellow humans would behave this way because that is how they themselves would behave?

 

At the end of the day people who believe that force, rather than love and charity, is what keeps society together are probably not the people we want in power. Inevitably the people who believe that force is required to keep society together are also the exact same people who believe that only they are entitled to use that force.

 

That speaks volumes.

 

Choose wisely.

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