Tuesday, March 10, 2009

PURIM

Today is the festival of Purim. Purim must be particularly significant for Jews this year. It commemorates the deliverance of the Jewish people of the ancient Persian Empire from Haman's plot to annihilate them, as recorded in the Biblical Book of Esther.

This year another Persian empire is now posing a dire threat to Israel. The mad Mullahs of Iran now have enough fissile material to make a nuclear device and they have of course vowed to wipe Israel off the map. If I were a Jew I would go easy on the celebrations this year and do a lot of praying. Come to think of it, Purim might be a good day for an Israeli raid on the Iranian nuclear installations. Maybe I shouldn't have said that.

********************

Obama is not trying to solve the economic crisis. He is using the crisis to socialize America.

"Not letting a good crisis go to waste." This idea popped up multiple times in the past seven days as multiple members of Obama's administration seemed to be in total agreement. Their conclusion: by not quickly solving the crisis of the American economy, we can create drastic social and structural change. Not surprisingly, this is the path even President Obama alluded to in his Saturday address to the nation.

On Saturday the President challenged his country to see its hard times as a chance to "discover great opportunity in the midst of great crisis." "That is what we can do and must do today. And I am absolutely confident that is what we will do," Obama said in his address. But is that what "we the people" hired him to do? To use "great opportunities" to change the face and fabric of the nation?

"We the People" were promised swift and effective action towards getting the markets repaired by President Obama, but they have dropped about 1400 points each week since he's taken power. "We the People" were promised greater fiscal responsibility by candidate Obama, yet his own proposals throw us down a black hole of debt, the likes of which we've never seen in a single year of an administration, much less in the first sixty days of one. "We the People" were promised the greatest commitment ever to oversight of the federal use of the money we send the government. What we've been handed is a series of embarrassing nominations of people who are willing to use the force of a gun to make you pay your taxes, but did not think twice about not paying theirs. "We the People" were told that his push for a stimulus would get people working again, yet barely 3% of it goes to actual job creation and projects that can even be initiated in the next 24 months. "We the People" were promised greater employment fulfillment and more vibrant business and economic outlooks when Obama's administration finally put together their plan to save the lending institutions. What we are dealing with is a greater spike in the unemployment numbers in Obama's first sixty days than was experienced under President Bush in his first seven years. "We the People" were promised an earmark free, pork free, bare bones budget, but as of last count Obama's omnibus bill contained 9200 earmarks.

So I don't find it surprising that recently even Obama supporters are now openly questioning his plan to revive the economy. As of last month, we know that more than 55% of the American people wanted help for the economy to come primarily through the reduction of taxes. The same poll found that only a little over 20% think more government spending was the answer.

Whoopi Goldberg surprised even herself on The View this week, unintentionally criticizing President Obama's plan to tax the American people into better economic conditions. She doesn't believe that she should have to turn around and write a check to Washington DC for nearly 40% of what she earns. Who could blame her?

Yet it is important to point out that there are now far more economists on record that have advised the President against larger government and pushed him towards tax relief, than those who supported the increased centralized control of a soft socialism that President Obama seems destined to aim for. And "We the People" should be asking ourselves why? If it makes no sense to the free market economists that populate the best economics programs across the nation, if it weakens the ability for the average family to make ends meet, and if it does not increase the number of people actually working, why is President Obama so stubbornly continuing to pursue his economically diabolical plan of destruction?

Because it's part of the master plan to "not let a good crisis go to waste." ... And in refusing to allow a "good crisis" to go to waste, the strategic move to remake Amerika anew has begun.

More here

*********************

One government that gets it

These days, you have to travel far to find a national leader who is talking about market-based approaches to the global recession. All the way to the other side of the world. "We don't tell New Zealanders we can stop the global recession, because we can't," says Prime Minister John Key, leaning forward in his armchair at his office in the Beehive, the executive wing of New Zealand's parliament. "What we do tell them is we can use this time to transform the economy to make us stronger so that when the world starts growing again we can be running faster than other countries we compete with."

That idea -- growing a nation out of recession by improving productivity -- puts Mr. Key and his conservative National Party at odds with Washington, Tokyo and Canberra. Those capitals are rolling out billions of dollars in stimulus packages -- with taxpayers' money -- to try to prop up growth. That's "risky," Mr. Key says. "You've saddled future generations with an enormous amount of debt that then they have to repay," he explains. "There is actually a limit to what governments can do."....

Mr. Key's coalition government, which includes parties to the right and left of the Nationals, has moved fast to implement a program of tax cuts, regulatory reform and government retooling. He won't label it supply-side economics and smiles when I ask if he's a Milton Friedman or Friedrich Hayek acolyte. "I'm not deeply ideologically driven," he says. "I believe in good center right politics."

Mr. Key is returning the country to a formula for prosperity that's worked in the past. As in Britain, the U.S. and Australia in the 1980s, New Zealand's government implemented a wide-ranging program of economic liberalization, including deep reductions in tariffs and subsidies, and privatization of state-run industries. The plan, nicknamed "Rogernomics" after then-Finance Minister (now Sir) Roger Douglas, was akin to Reaganomics, and the island nation grew smartly.....

Mr. Key's program focuses first on personal income tax cuts, which -- given that the new top rate, as of April 1, will be 38% -- are still high, especially when compared to Hong Kong and Singapore. "We just think it's good tax policy to lower and flatten your tax curve," he says. "People will move in labor markets and they look at their after-tax incomes."

For now, the prime minister is focusing on chipping away entrenched regulations that drive away foreign capital -- a contrast to the U.S. and Australia, which are reregulating their markets in the wake of the financial crisis. "Good regulatory reform can be an important catalyst toward driving economic growth and coming out of the recession faster," Mr. Key says. His government is revising legislation meant to protect New Zealand's pristine environment from private-sector development but misused by greens to stymie all stripes of business plans.

More here

**************************

Yes, We Did Plan for Mumbai-Style Attacks in the U.S.

Why the latest assault on Bush antiterror strategy could make us less safe

After 9/11, we had a responsibility to consider all possible threats. In the weeks after the Sept. 11, 2001, strikes on New York City and Washington, D.C., these were hypotheticals no more. They became real scenarios for which responsible civilian and military leaders had to plan. The possibility of such attacks raised difficult, fundamental questions of constitutional law, because they might require domestic military operations against an enemy for the first time since the Civil War. Could our armed forces monitor traffic in a city where terrorists were preparing to strike, search for cells using surveillance technology, or use force against a hijacked vessel or building?

In these extraordinary circumstances, while our military put al Qaeda on the run, it was the duty of the government to plan for worst-case scenarios -- even if, thankfully, those circumstances never materialized. This was not reckless. It was prudent and responsible. While government officials worked tirelessly to prevent the next attack, lawyers, of which I was one, provided advice on unprecedented questions under the most severe time pressures.

Judging from the media coverage of Justice Department memos from those days -- released this week by the Obama administration -- this careful contingency planning amounted to a secret plot to overthrow the Constitution and strip Americans of their rights. As the New York Times has it, Bush lawyers "rush into sweeping away this country's most cherished rights." "Irresponsible," harrumphed former Clinton administration Justice Department officials.....

Imposing Fourth Amendment standards on military action would have made the Civil War unwinnable -- combat occurred wholly on U.S. territory and enemy soldiers were American citizens. The military does not have the time to obtain warrants before soldiers fire upon enemy targets and personnel; the battlefield does not provide the luxury to collect evidence needed to meet probable cause standards in civilian courts. Even if the Fourth Amendment applied, we believed that courts would judge military action under a standard of "reasonableness" -- as they might review a police officer who fires in self-defense -- rather than demand a warrant to use military force to stop a terror attack.

In releasing these memos, the Obama administration may be attempting to appease its antiwar base -- which won't bother to read the memos in full -- or trying to look good for the chattering classes. But if the administration chooses to seriously pursue those officials who were charged with preparing for the unthinkable, today's intelligence and military officials will no doubt hesitate to fully prepare for those contingencies in the future. President Obama has said he wants to "look forward" rather than "backwards." If so, he should not restore risk aversion as the guiding principle of our counterterrorism strategy.

More here

*********************

ELSEWHERE

McCain gets it: "President Barack Obama should let failing car giants go bust rather than prop them up with public money, his former White House rival John McCain said. Mr McCain led a Republican attack on the Obama administration's bailout for motor manufacturers, saying that bankruptcy was the best option for the firms. He accused Obama of failing to make the "tough choice" and said General Motors should go into Chapter 11 bankruptcy and come out better than before. "I think the best thing to let happen for GM, in my view, is to go into Chapter 11, reorganise contracts, come out of it stronger, leaner," he told Fox News Sunday."

Leftist taxes slowly destroying Britain's most profitable industry: "Brit Insurance, the patriotically named insurer best known for sponsoring the Oval cricket ground, is expected to confirm today a plan to move its headquarters out of the UK for tax reasons. The company's decision comes after months of deliberation and is based on what many see as an unfavourable corporate tax regime. It is understood that Dane Douetil, Brit's chief executive and a leading figure on the Lloyd's of London market, favours a move that keeps the company within the European Union. Brit confirmed last summer that it was looking at relocating its tax headquarters, hiring a number of advisers including Ernst & Young to examine its options, which will also take into account where it holds its capital. A number of companies have re-domiciled, or signalled such an intent, including Shire, the pharmaceuticals group, United Business Media, the business publisher, and WPP, the advertising group".

There is a new lot of postings by Chris Brand just up -- on his usual vastly "incorrect" themes of race, genes, IQ etc.

For more postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here or here or here

****************************

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

****************************

Monday, March 09, 2009

The lesson from Canada's Israel Apartheid Week: Anti-Semitism is now a creature of the left

The writer below is perfectly correct. All he misses is that the Left (including the socialist Hitler) has been the principal home of antisemitism at least since the days of the furiously antisemitic Karl Marx. See here. There was a brief let-up in Leftist antisemitism after WWII but the dog has now returned to its vomit (Proverbs 26:11)



People speak of anti-Semitism as if it were a monolithic evil. But it's not. There are two distinct strains of Jew hatred. Unfortunately, our society is still fixated on fighting the one that went out of style four decades ago. The difference between the two begins with the way Jews are depicted. Look at the images on this page. The one on the left, a poster published in German-occupied Poland in 1941, exemplifies the Jew-hatred spouted by the Nazis. (The caption reads: "Jews and Lice: They cause typhus.") The image on the right, a poster circulated on Canadian campuses this week to mark "Israel Apartheid Week," typifies the more recent variant.

Aside from the obvious - the language and style of illustration - what crucial difference do you notice? In the Nazi poster, the Jew is a piece of filth - a rogue pathogen within gentile society. The image perfectly captures Hitler's view of Jews as a "bacillus infecting the life of peoples." Now look at the image on the right. Aside from retaining the general sense that the Jew (or, to give the fig leaf its due, "the Jewish state") is a scourge upon the world, everything has changed. The Jew is no longer diseased and wretched. Just the opposite: He is an omnipotent, teched up superman, murdering a defenseless Palestinian child from above.

In this latter detail - the use of a child victim to communicate the extent of the Jew's evil - the anti-Israeli propaganda of today is similar to the posters and textbooks of the Nazi era, which often showed shadowy Hebrews menacing German children. But the Nazis usually took care to personalize the Jew as a craggy, hook-nosed ghoul - an image meant to further the idea that Jews were so genetically inferior as to be literally inhuman. Aside from editorial cartoonists in the Arab world (many of whom faithfully copy Nazi-era stereotypes to this day), anti-Semitic propagandists of our own age typically omit the Jew's features altogether in favour of a faceless, Star-of-Zion-emblazoned tank or helicopter. As in the Nazi era, the Jew isn't fully human - but now he's an all-powerful Nazgul instead of a pitiful Gollum. What explains this radical transition in the presentation of anti-Semitic propaganda? Three factors.

The first is ideology: When the Nazis went down to defeat, they took with them the intellectual basis of "germ-theory" anti-Semitism - the toxic notion that certain races or groups are genetically inferior or parasitical. In our era, to compare Jews to leeches is to announce oneself as a bigoted creature from society's discredited fringe.

The second reason is tied up with the history of Israel itself: After the Jews established their own state in 1948, it became impossible to typecast them as mere parasites contaminating foreign hosts. This was especially true after the Six-Day War of 1967, in which Israel scored a crushing military victory against Egypt, Jordan and Syria - not the sort of maneuver you'd expect from typhus-stricken old men.

The third reason is political: The leaders who find anti-Semitism useful today aren't extreme nationalists such as Hitler, Stalin or Mussolini (though Hugo Chavez admittedly has been wandering into that territory). Instead, they are radical Muslims - and their allies in Western activist groups, who speak the tropes of anti-colonialism, anti-imperialism, anti-Americanism, anti-racism and all the other fashionable antis. In this left-wing intellectual climate, disparaging any race or religion per se is off limits. The preferred tactic is to disparage the allegedly colonial, imperialist, racist etc. nature of their actions.

In keeping with our society's obsession with victimhood, the propaganda strategy against Israel now is entirely passive aggressive. While the Nazis loved to dwell on the virility and superhuman indomitability of Aryans, the Jews' enemies now are represented in propaganda by 5-year-olds carrying teddy bears. (For more in this vein, watch the 60-second promotional movie on the Israel Apartheid Week web site, in which you will see a cartoon mock-up of Gaza's population that contains no men of military age - just a bunch of sorrowful kids, mommies and granddads.) The moral dimension of the conflict - terrorism versus counter-terrorism, a society seeking peace versus one that seems addicted to war - has been replaced by a sentimental Marxist-inspired tale of the virtuous oppressed rising up against an evil oppressor.

Broadly speaking, in other words, the locus of anti-Semitism has moved from the right side of the political spectrum to the left. Here in Canada, you still do see a few isolated anti-Semites of the Nazi persuasion here and there - David Ahenakew is one rare example. But for the most part, the neo-Nazi movement is confined to a few self-parodic Internet chat rooms (many of whose members, we've learned in recent years, are actually bored human-rights bureaucrats looking to stir up hate-speech charges). These days, the hatemongers targeting Jews' right to live peacefully spout the mantras of "social justice" and "peace studies," not racial purity. Their movement is dominated by the sort of leftists and minority activists whom the Nazis (neo or otherwise) would have up against the wall in a heartbeat if they had the chance. (Running down through the published list of 11 speakers at the University of Toronto's Israel Apartheid Week, for instance, you will find no fewer than three Canadian aboriginal activists. Who knew these people were such experts on the Middle East?)

It also must be admitted that the anti-Semitism of today is a lot more subtle than the old-fashioned variety: Except in clear cases of blood libel such as the IAH poster, it's often hard to tell where legitimate criticism of Israel ends and Jew-hatred begins. As a result, Jews themselves - middle-aged university professors and career feminists, most typically - are often drawn into radicalized campaigns against Israel, and sometimes even can be seen marching gullibly arm-in-arm with Kafiyeh-clad protestors chanting for Jewish blood in Arabic.

It's a disgusting spectacle, especially when you hear their maudlin rhetoric - "massacre," "crime against humanity," "genocide," "holocaust," etc. If these words may be applied to the unintentional killing of several hundred Gazans during a counterterrorist operation, how does one describe the wholesale slaughter of tens or hundreds of thousands in places such as Chechnya and Darfur? ("Mega-massacre"? "Giga-genocide"?) You don't have to be anti-Semitic to pervert language or logic in this way, but it certainly helps. And I can see why many of my correspondents want universities to ban Israel Apartheid Week, or at least the most vicious IAW propaganda.

Though I personally don't care much for censorship, one might even think that this is the sort of issue in which our country's human rights commissions (last seen defending a Muslim woman's right to appear masked in court) might take an interest. But you'd be wrong. Our entire human-rights establishment was built in the 1960s and 1970s on the assumption that anti-Semitism would always be a creature of the extreme right. And to this day, the dinosaurs who run the nation's HRCs - along with their allies in the identity-politics industry - persist in the ridiculous notion that the main threat to Jews emanates from drunken old fossils like Ahenakew, or the eight unemployed hamburger-flippers who get together in Calgary every year to exchange badly rehearsed Hitler salutes.

They treasure this conceit for an obvious self-serving reason: Vilifying Nazis is easy. Taking on politically correct Muslims and campus lefties on parade is hard. Anti-Semitism thrives when lazy people look the other way. That much, at least, hasn't changed.

SOURCE

****************************

The stupidity rational people are up against

Below is an email recently received from an antisemite, complete with strange grammar, spelling etc. I think it is just schizophrenic thought-disorder but Muslim comments about Jews mostly have a poor grip on reality too

Euthenasia law signed by Hitler Was never put into use because the rest of germany would not vote for it, plus, the intended targets of euthenasia were gone during the war - you know, they died from starvation and cold.

Your site is misrepresenting a lot of facts. It looks to me like you are on the jews side.

What are you going to do next, create a retirement community and leave the old people out to die like the jews did? I have family pictures of old people whose families were milked for a lot of money, as they were well off, and thought their old people would be well taken care of, who in fact had their old people left out to die, starved to death, their houses left cold, and the jews put on this big ruse with the family like they were still alive and kept taking their money. Plus, those hideours jews would go back to look all the time at the bodies, and would go to other towns to find more victims and bring them back. In addition, they spent the money they earned paying for hits on local law enforcement until they could take over a whole village and move more of their relatives in.

Also, the jews killed their own kind. They were killing the polish jews to the best of their ability by sucking them into the villages they ended up owning, and getting them sick as experiments and watching them suffer and die, in order to know more about "medicine". They were all worse than any dr. mendela. Dr. Mendela is mostly blame victim, and reason for the Germans themselves to end world war II - You know, they put him up there in order to get the allies to blame just one man instead of the whole german population for stuff the jews had been doing themselves. Because the germans got blamed for what the jews were doing in their country, you know, it's like "why did you germans let those jews get so out of hand?" Better cover up for your countries weakness by taking the blame, HUH? DUH? Because you've probably studied all this to a T and know it anyway. You are most likely evil people who want to continue to perpertuate blame on an innocent german country forever, because it's fun to see all the germans ever born on earth suffer, like they are all responsible for the nazi movement, which by the way was only the sociopathic germans, not the normal ones. I was born into a neonazi family, and the neonazis were responsible when they ran WW I and WW II, they never got out of hand like Hitler did. And by the way, during WW II, the brightest and best generals were in their 70's, so germany had plenty of espionage experience to draw from

Lisa Hawthorne [lisahawthorne3@msn.com]

Note: I make no claim that the "Lisa Hawthorne" who wrote the above email is in any way connected with the various Lisas Hawthorne to be found by a Google search. I simply have no information on that

Update:

The appallingly incompetent way in which Lisa has expressed herself led me to suspect schizophrenic thought-disorder, a symptom of psychosis. A reader however has what is in a way an even more depressing suggestion. He says that her words are typical of a postmodernist young adult's attempt at writing English.

****************************

ELSEWHERE

The issue of whether Obama is qualified to be U.S. President has not gone away. The huge resistance he has put up to demands that he produce an American birth certificate seems clear proof that he is not American-born. But the fight to nail him goes on. Latest episode here

By any criterion except ideology, Ashkenazi Jews are a highly intelligent group -- so it has long been a puzzle that Israelis do not score highly on IQ tests. Tests conducted on Israeli army intakes show an average IQ of 100, which is dead average for European countries. This post however gives a better explanation for the anomaly than my facetious one (that smart Jews stay in New York). It points out that a majority of Israelis are of Middle-Eastern (Sephardi and Mizrahi) origin rather than European (Ashkenazi) origin and that the large gap between Sephardi and Ashkenazi IQ is well-known. So an average of 100 for all of Israel still implies a quite high average IQ for Ashkenazi Israelis. Nice to have that puzzle solved.

More reason to fear government involvement in business: "In December 2003, Mayor Michael Bloomberg thought he had a slam dunk. He along with Brooklyn Borough President Marty Markowitz and developer Bruce Ratner struck a deal for a $4.3 billion development project that was to remake downtown Brooklyn by building expansive residential and retail space, and a gleaming new $950 million arena that would bring the New Jersey Nets to the borough. Now, more than five years later, what's been brought to Brooklyn is a very large hole in the ground and a project that is coming to symbolize why large government projects can be riskier than allowing local residents to fix up their own communities. What we see in Brooklyn is the beginnings of the failure of a massive government plan to revive the economy of a neighborhood."

Zoo Director to Head Obama's Office of Personnel Management: "President Obama has announced his intention to nominate John Berry to serve as the next director of the Office of Personnel Management. A veteran of the Treasury and Interior departments and current director of the National Zoo, Berry also once served as legislative assistant to Rep. Steny Hoyer (D-Md.)..... At the Interior Department, he served as director of the National Fish and Wildlife Foundation, working with then-inspector general Earl Devaney to address several financial and management issues. Appointed director of the National Zoo, Berry implemented a strategic plan, a management reorganization, a 20 year capital master plan and secured funding for infrastructural improvements. Under his watch, the Northwest Washington zoo has also renovated the popular elephant house and seal and Sea Lion exhibits".

Antisemite running America's intelligence: "Charles Freeman is now officially ensconced as the head of the U.S. National Intelligence Council, and will produce the National Intelligence Estimate. It's a done deal it seems. All USA intelligence (and a lot of stupidity) will flow through this one man and be edited by him. He will produce America's official picture of the Middle East and the world. Freeman's qualifications for the job include being President of an Arab lobby organization, MEPC, that accepted a million dollar donation from Saudi Arabia and published the full length version of "The Israel Lobby." Freeman is, or at was, also on the board of directors of another Middle East Lobby - The American Iranian Council. Freeman's views about Israel and its enemies can be summed up in this one quote: "I'm a very practical man, and my concern is simply this: that there are movements, like Hamas, like Hezbollah, that in recent decades have not done anything against the United States or Americans, even though the United States supports their enemy, Israel. By openly stating and taking action to make them-to declare that we are their enemy, we invite them to extend their operations in the United States or against Americans abroad." Just because the Hezbollah blew up a few marines in Lebanon is no reason to hold a grudge, right? And just because Hamas insists that it wants to wipe out every Jew on the planet, that's no reason to slight them either, correct? And the demonstrations with huge crowds chanting "Death to America" are no reason to hurt these wonderful Islamic gentleman either, are they?"

For more postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here or here or here

****************************

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

****************************

Sunday, March 08, 2009

Media Malpractice: Propaganda Replaces News

A new documentary movie by courageous filmmaker John Ziegler entitled "Media Malpractice" made its theatrical d,but last night in Seattle, Wash. The movie systematically proves how corrupt and dishonest the American media were during the campaign of 2008.

The film was revealing, coming just days after a similar well-orchestrated effort by the Obama administration, Democratic Party officials, and liberal advocacy groups in league with the mainstream news media against Rush Limbaugh and Gov. Bobby Jindal as their primary targets. Even the president played his part in the bizarre, staged play by telling congressional Republicans, "You can't just listen to Rush Limbaugh and get things done."

Ironically, the plan to attack Limbaugh was already being hatched while the unfair attacks on Gov. Sarah Palin, documented by Ziegler, were reaching a crescendo last fall.

The manipulation can only be called propaganda. Old-fashioned, unbiased journalism has died. The Limbaugh attacks in the news, we now know, were cooked up by Democratic strategists James Carville and Stanley Greenberg last fall. Internet-based Politico reveals the White House involvement in the conspiracy when it reported, "A senior White House aide has been tasked with helping to guide the Limbaugh strategy."

Members of the media are performing their part of the script. Three speeches and the media's response to them serve as concise illustrations of the media role in the propaganda machine. They acted in unison, attacking and vilifying Limbaugh and mocking Jindal. Conversely, they are a choir of praises for the "tone of his speech" when reporting about Obama's address to Congress.

Limbaugh delivered his terrific speech at the CPAC conference and it was broadcast nationwide. He detailed the differences between ultra- liberal Barack Obama's big government agenda and the ideal of smaller government. He explained why conservatives care about the individual. Limbaugh's speech inspired the crowd, reminding them of the founding principles of America. He showed how starkly Obama's philosophy differed from traditional American ideas, while explaining what exactly is at stake in this present debate.

However, you wouldn't know this by listening to the mainstream media. Bill Schneider on CNN said "Well, it was an angry tone... this was a very angry speech. They didn't do so well last year but they're still angry. The tone of this speech was mocking, bullying, it was full of contempt, and I thought it was a very harsh speech." David Letterman and Katie Couric joined the fun mocking Limbaugh's clothing and his delivery, this, given the fact that none of the late night comedians have poked any fun at Obama while they viciously mocked Bush. Chris Matthews lambasted Limbaugh while needling his guests to disown him.

Now, compare the reception of Limbaugh's speech with the media's reaction to Obama. They criticized Limbaugh's tone, ignoring the content. For Obama, instead, they focused on the rhetoric he uses to mask his agenda, overlooking his leftist content. While universally praising Obama's rhetorical flair, most commentators ignored what Obama actually said in his address. They omitted talk of the huge deficits, tax hikes for all through carbon taxes, and the return to class warfare.

David Gergen oozed about "a rousing speech, took us up to the mountaintops." The New York Times reported Obama's words, "were often stern, but laced with optimism and humor," and "he framed his argument with fresh urgency." Chris Matthews simply called it "Churchillian." To top it off, CBS host Maggie Rodriguez said, "And Americans loved it.then out comes Bobby Jindal." Rodriquez called Jindal "Debbie Downer, saying 'hated it, it's not going to work'" because he didn't agree with Obama's leftist plan for America.

Talking heads praised Obama before and after his speech. MSNBC introduced the Jindal speech and Matthews unprofessionally audibly muttered, "Oh God," as Jindal approached the camera.

As if muttering "Oh God" weren't enough, Matthews introduced Jindal saying "we're going to hear a fairly right-wing speech tonight." Charlie Gibson echoed those sentiments, "He is a very conservative Republican and you'll hear that reflected, I think, in his remarks tonight." Yet, not one utterance was heard from the media about how liberal Obama and his agenda are. Maybe the most ludicrously biased comments were by Washington Post columnist Amy Argetsinger, who "found his (Jindal's) Manson eyes disturbing." The only exception to the discussion of the content of his speech was to say that Jindal was far-right.

These three different speeches provide clear examples of the media's preferential treatment for liberal ideas. The media shield the public from true debate. Instead they propagandize for Obama and the political left. Unfortunately, media bias didn't end after November 2008.

Source

***********************

Britain loots the savings of the elderly to pay for the mistakes of the banks

The implicit message: Spend your money as soon as you get it and depend on the pittance provided by the government in your old age

In a mere 24 hours the size of the pension deficits facing some of Britain’s biggest companies has jumped by around 100 billion pounds to a record 390 billion - the equivalent of over 150,000 for every member of a final salary scheme. The increase is a direct result of the Bank’s announcement this week to create 150 billion and pour it directly into the financial system, experts said.

It sparked further criticism of the authorities for endangering the financial future of Britons’ savers in their efforts to bring the financial crisis to an end. The Government and Bank have already been accused of obliterating the incentive to save by slashing interest rates on savings accounts and visibly attempting to stoke up high inflation in the years to come.

The Bank was accused of hammering the final nail into the coffin for Britain’s final salary pension schemes, which have seen their deficits climb in recent years, partly as a result of Gordon Brown’s decision as Chancellor to levy a 6 billion tax raid on pension funds’ dividends. Some 2.5 million workers are currently signed up for these schemes which provide retirees with a guaranteed annual income when they reach the appropriate age. Having enjoyed a small surplus only a year ago, these funds have also been hit by the fall in the stock market over the past year.

However, the effect of the Bank’s scheme has been to increase the deficit between what is in the funds and what is needed to pay out future pensioners by an almost instant 100 billion. Although some expect the deficits to fall in the years ahead as the economy improves, insiders warned that this could be the final straw that persuades companies to shut down these schemes altogether and turn instead to far less generous defined contribution plans.

However, experts warned that even these more parsimonious schemes, which 8 million workers are subscribed to, will suffer as a direct result of the Bank’s actions. The amount these people receive from their pension depends not only on the size of pot they amass over their working life but on the rate of the so-called annuity which provides them an annual income from the moment of retirement. Over 600,000 people are due to retire onto these schemes over the next year. Should annuity rates fall a further percentage point, it will mean the annual pension of someone with a 100,000 pension pot may drop from around 7,000 to 6,000. Experts said anyone retiring in the coming years may face an instant decrease in what they could hope to expect from their pension.

Tom McPhail of Hargreaves Lansdowne said: “The sad truth is that pensions savings are going to be what pays the price for these efforts to bail out the economy in the short term. The apparent plan is to try to fix today’s problems at the expense of our children - by paying a shedload of money which will have to be paid back tomorrow. "It will hammer the final nail in the coffin of final salary schemes, as well as cutting the annuity rates for anyone with a defined contribution set to retire imminently.”

However, public sector workers, many of whom are on generous final salary schemes, will be unaffected by the increase in deficits, since their pensions are paid by taxpayers rather than cash-pressed companies.

SOURCE

**********************

ELSEWHERE

US jobless rate still unstimulated: "The U.S. unemployment rate spiked to 8.1 percent in February, reaching the highest rate in a generation as employers slashed 651,000 jobs. Both figures were worse than analysts expected. Wall Street reacted with a rally right after the opening bell, but as of midmorning the Dow and Nasdaq showed small losses. According to the U.S. Labor Department, the net job loss in February came after even deeper reductions in the prior two months. The economy lost 681,000 jobs in December and 655,000 in January."

MN: High court denies Franken bid for election certificate: "The Minnesota Supreme Court today ruled that Al Franken was not entitled to be certified winner of the U.S. Senate election pending the outcome of a trial challenging his 225-vote recount lead. The court said state law says a certificate of election cannot be issued until the state courts have finally decided an election. The court also said federal law did not require states to certify senators by the time a new term begins in January. Moreover, it said the U.S. Senate could always seat Franken even without a certification. . Coleman's team has argued in court that the recount, which gave Franken a 225-vote lead, was flawed and that hundreds of wrongly rejected absentee ballots should be tallied."

Why I miss Bill Clinton: "If Barack Obama achieves nothing else in his presidency, he may do something that once seemed impossible: give a lot of people who aren't crazy about his party a new respect for Bill Clinton. Clinton, for all his appetites and excesses, was a cautious, centrist sort of Democrat. He had innumerable ideas for things the government could do, but most were small and fairly innocuous. He was willing to go along with Republicans on some of their sound ideas .. He proclaimed - or conceded - that the `era of big government is over.' But Clinton never foresaw Barack Obama. From the sound of his budget speech last week, the new president hopes the era of big government is just beginning."

Beating back Obamanomics : "It's raining, pouring economic fallacies by the hour, followed by a flood of horrible policy that is driving us ever further into economic depression. The regime in charge has really gone nuts, revealing itself as both deeply ignorant and horribly evil. We find ourselves facing the horror of what has always been the Achilles' Heel of the left wing: its abysmal ignorance of economic science. The ideological tendency has gone from Keynesianism to outright socialism in a matter of a few weeks. And the trajectory seems to be accelerated mainly by the logic of the interventionist cycle: bad policy leads to bad results that are addressed through bad policy, and so on, straight down the fast track to serfdom."

British decline: "The last surviving railway restaurant car service is to be scrapped and the space used to cram in more passengers, ending a 130-year tradition of fine dining on trains. Passengers will no longer be able to watch the countryside slip by at 125mph as a waiter serves them a four-course dinner at a neatly laid table. Instead, they will have to bring their own food or buy snacks from trolleys. National Express, the last train company to offer a frequent restaurant service, is closing its dining cars under a secret deal with the Government. Over the past two months it has axed all 22 daily restaurant cars on the Norwich to London Liverpool Street route and 81 on the East Coast Main Line from Edinburgh to London King's Cross. Now the company is considering withdrawing the remaining 15 daily restaurant cars on East Coast routes and converting the kitchens into seating."

In defence of tax havens: "Given that Britain's banking sector is currently lurching from one crisis to the next, and seemingly always on the verge of complete collapse, is the prime minister - who oversaw Britain's finances for 11 years - really in a position to lecture anyone about how their banks are regulated? And how on earth is outlawing 'shadow banking systems' going to protect people's savings? Even for a consummate liar like Gordon Brown, that one's a stinker. There is little doubt that the shadow banking systems Brown is referring to are considerably more secure and stable than those in Britain or the USA. That's why people put their money in them. As for tax havens, well, there Brown is being even more transparently dishonest. His dislike for tax havens has nothing whatsoever to do with the security of people's savings, and everything to do with the fact that high-spending governments like his detest international tax competition."

British government has `blood on its hands over unsafe vehicles': "A former senior SAS officer in Afghanistan has said that the Government has "blood on its hands" over the deaths of four soldiers killed by a roadside bomb. Major Sebastian Morley, who resigned last October from his post as the most senior reservist SAS officer in Afghanistan, said that army commanders and Whitehall officials ignored his warnings that "unsafe" vehicles would lead to the deaths of soldiers. Major Morley, 40, stood down after what he called the "unnecessary deaths" of four soldiers when their Snatch Land Rover hit an anti-tank mine in Helmand province in June last year. Among the dead was Corporal Sarah Bryant, the first servicewoman to be killed in Afghanistan. Major Morley accused Quentin Davies, the Minister for Defence Equipment and Support, of telling an "unacceptable lie" when he said after the deaths that commanders could choose which vehicles they used in combat."

For more postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here or here or here

****************************

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

****************************

Saturday, March 07, 2009

Obama's kneejerk Leftist explanations defy the reality of America's economic situation

The logic of Obama's address to Congress went like this: "Our economy did not fall into decline overnight," he averred. Indeed, it all began before the housing crisis. What did we do wrong? We are paying for past sins in three principal areas: energy, health care, and education -- importing too much oil and not finding new sources of energy (as in the Arctic National Wildlife Refuge and the Outer Continental Shelf?), not reforming health care, and tolerating too many bad schools.

The "day of reckoning" has now arrived. And because "it is only by understanding how we arrived at this moment that we'll be able to lift ourselves out of this predicament," Obama has come to redeem us with his far-seeing program of universal, heavily nationalized health care; a cap-and-trade tax on energy; and a major federalization of education with universal access to college as the goal.

Amazing. As an explanation of our current economic difficulties, this is total fantasy. As a cure for rapidly growing joblessness, a massive destruction of wealth, a deepening worldwide recession, this is perhaps the greatest non sequitur ever foisted upon the American people.

At the very center of our economic near-depression is a credit bubble, a housing collapse and a systemic failure of the entire banking system. One can come up with a host of causes: Fannie Mae and Freddie Mac pushed by Washington (and greed) into improvident loans, corrupted bond-ratings agencies, insufficient regulation of new and exotic debt instruments, the easy money policy of Alan Greenspan's Fed, irresponsible bankers pushing (and then unloading in packaged loan instruments) highly dubious mortgages, greedy house-flippers, deceitful homebuyers.

The list is long. But the list of causes of the collapse of the financial system does not include the absence of universal health care, let alone of computerized medical records. Nor the absence of an industry-killing cap-and-trade carbon levy. Nor the lack of college graduates. Indeed, one could perversely make the case that, if anything, the proliferation of overeducated, Gucci-wearing, smart-ass MBAs inventing ever more sophisticated and opaque mathematical models and debt instruments helped get us into this credit catastrophe in the first place.

And yet with our financial house on fire, Obama makes clear both in his speech and his budget that the essence of his presidency will be the transformation of health care, education and energy. Four months after winning the election, six weeks after his swearing in, Obama has yet to unveil a plan to deal with the banking crisis.

What's going on? "You never want a serious crisis to go to waste," said Chief of Staff Rahm Emanuel. "This crisis provides the opportunity for us to do things that you could not do before." Things. Now we know what they are. The markets' recent precipitous decline is a reaction not just to the absence of any plausible bank rescue plan, but also to the suspicion that Obama sees the continuing financial crisis as usefully creating the psychological conditions -- the sense of crisis bordering on fear-itself panic -- for enacting his "Big Bang" agenda to federalize and/or socialize health care, education and energy, the commanding heights of post-industrial society.

Clever politics, but intellectually dishonest to the core. Health, education and energy -- worthy and weighty as they may be -- are not the cause of our financial collapse. And they are not the cure. The fraudulent claim that they are both cause and cure is the rhetorical device by which an ambitious president intends to enact the most radical agenda of social transformation seen in our lifetime.

SOURCE

*********************

Obama is just another callous Leftist who does not care about people at all

And he shows desperate economic ignorance

As the stock market plunged below the Dow's 7,000 mark -- a loss of 1,500 points since his inauguration -- Obama casually dismissed the sharp drop in equity values, comparing it to the ups and downs of a poll. The stock market "is sort of like a tracking poll in politics," he told news reporters. "You know, it bobs up and down day to day. And if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong."

Excuse me? Tracking poll? That's like dismissing a severed hand as a hangnail. The stock market represents the life savings and investments of millions of workers. More than 50 percent of American households own shares in public companies. We are talking about people's retirement finances here that they see vanishing before their eyes, and millions of these investors are middle-class Americans struggling to make ends meet.

This is a time that called for a little sympathy about what this recession is doing to investors. "The stock market is the country right now. This is where people's wealth is, this is their pension plans, their 401(k)s and IRAs," CNBC's investment guru Jim Cramer said last week.

But the president's seemingly callous shoot-from-the-hip response may have been the result of the political pressure he is coming under as the economy significantly worsens on his watch. Add to this the growing chorus of critics who are blaming the stock market's plunge on his policies. "There is absolutely no doubt in my mind that President Obama's policy agenda is a factor in driving down the Dow," economic policy strategist Cesar Conda wrote last week in his Politico blog. "The reason is simple: The threat of significantly higher tax rates on economic success, more government regulation and intrusion in the free market, and explosive increases in government spending and debt have all combined to reduce economic returns on equity investment," he said.

Cramer, whose views on stocks are closely followed by millions of CNBC viewers, said he wanted "some sign that Obama realizes the market is totally falling apart. His agenda has a big hand in that happening."

The other White House blunder came last week, too, when Obama's chief of staff, Rahm Emanuel, took a shot at conservative radio-talk-show king Rush Limbaugh, saying he was the leader of the Republican Party. That triggered a GOP counterattack that took the White House to task for engaging in the kind of political blood sport that Obama had campaigned against, promising to change the tone in Washington. Cable-TV talk shows fueled the controversy and, by midweek, the White House was in full retreat as it realized their attacks had misfired and backfired. Not a pretty picture. A somewhat embarrassed presidential press secretary, Robert Gibbs, confessed that the low-road episode had been "counterproductive."



But Republicans were gleefully ridiculing the White House's failed attempt to tie the GOP to the hugely popular Limbaugh's nuclear attacks on the president's policies. "Now that the Obama administration has declared their own distractions, diversions and manipulations strategy to be counterproductive, House Republicans would like to see this administration join us in our bipartisan national conversation about job creation, stimulating small business and middle-class tax relief," said Brad Dayspring, spokesman for House Minority Whip Eric Cantor, Virginia Republican. "They should apologize to the American people for supporting these tactics and get back to work," he said.

Meanwhile, the government was moving at its typical snail's pace to get the administration's stimulus money into the states, in large part due to the dozens of critical deputy-secretary posts that remain empty at Treasury and other key departments that have the job of dishing out the funds.

The economy is tanking, and Wall Street still had little confidence that Obama's spending stimulus would work (since only a portion of its funds will be spent this year). And in Congress, the Democrats were doing what they do best, spending more money, this time a massive omnibus fiscal 2009 bill containing 9,000 earmarked provisions that will needlessly cost taxpayers and the economy billions of hard-earned dollars. The American people are willing to be patient for now, but we are by nature an impatient people and eventually that patience is going to start running out.

SOURCE

*********************

Save Us From the "Saviors"

Barack Obama and the Democratically-controlled Congress have made one thing perfectly clear: ideology trumps everything-including common sense, basic free market economics, and patriotism.

That's right. I said patriotism. Patriotism is defined as a love for one's country. In order to love one's country, one has to believe it is preponderantly good. Not perfect, but a place where, when you add up all the plusses and minuses, you come with a net plus. A big net plus.

It has become more than apparent that the vast majority of Congressional Democrats and the president himself believe America is an inherent minus. So much so, that "tweaking around the edges" of the most successful and prosperous nation the world has ever produced will not suffice. For these profoundly misguided Americans, 220 years of exceptionalism must be tossed aside to make way for a new era of social utopianism-which can only be achieved by massive government involvement in every important aspect of American life. That's not patriotism. That's unbridled hubris and a lust for control that should infuriate every reasonable American.

Note that word "reasonable." Never before in modern American history have we had a presidential election where reason mattered less. We had hope and change. We had a thrill running up a leg. And we had the surest sign that those who believe America is fundamentally flawed nation were confident they could sell that ideology to a majority of the electorate. To wit:

"I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal ... This was the moment .... this was the time ... when we came together to remake this great nation " - President Barack Obama

Only in the fevered imaginations of egomaniacal ideologues could the idea that all the goodness the world has to offer was waiting for their ascension to power. But give them credit. They calculated their strategy well. "Hope,""change" and "messiah" got them to election day. Now "fear," "catastrophe," "depression" etc., will be wielded like a billy club in order to smash any resistance to their agenda.

They even have their "Emmanuel Goldstein." Goldstein was the enemy of the state in Orwell's "1984," a man whose presence on a viewscreen required "two minutes of hate." Democrats started with George W. Bush for obvious reasons, but they're smart enough to know that demonizing the former president for standing against their worldview has a limited shelf life.

Enter Rush Limbaugh. Both the president and Democratic members of Congress, with ample help from their media cheerleading section, have made it clear that this radio host-that's right, a radio host-will replace the former president as the symbol of everything that is wrong with America. They are also calling him the "de facto head of the Republican party" in order to demonize them as well.

Note who else they've belittled whenever it suits their purposes: Wall Street, bankers, pharmaceutical companies, oil companies, coal companies, insurance companies, Americans who don't think, as Joe Biden remarked, "paying higher taxes is patriotic"-and Americans who think there's something wrong with paying their neighbor's mortgage along with their own.

Are some people deserving of scorn? Certainly. But bad people don't equal a bad system. Our system of Constitutional government combined with our brand of free market capitalism has produced unparalleled bounty and freedom for the entire world. That it can falter on occasion has far more to do with human foible than systemic failure.

Yet it is the perception of the latter which is being heavily promoted. Without the fear of systemic failure, Americans cannot be convinced that the massive transfer of wealth from the private sector to the federal government is anything more than a naked power grab. They will not be persuaded that the rewarding of sloth, irresponsibility and stupidity-in the name of "social justice," no less-is anything more than the entitlement mentality run amok. So, as Barack Obama's Chief of Staff, Rahm Emmanuel remarked, Democrats are not about to let "a serious crisis go to waste"-even if they have to sustain it longer than necessary to get what they want.

Options for those who want to stop the madness? I can think of three. One is immediate and the other two either untimely, or unlikely. First and foremost, hammer our Congressional representatives with emails, letters and phone calls-just like we did when they tried to foist illegal immigration "reform" on us two years ago. Tell them you have no interest in mortgaging the country's future to satisfy the ambitions of those whose core belief is the idea that Americans are "too stupid" to run their own lives without massive government interference.

Two, vote these socialist, do-gooder hacks out of office in 2010. I know, Republicans aren't much better, but given a choice between Hitler and Mussolini, you vote for Il Duce. And two years is a long time, but it's better than four.

Lastly, maybe it's time Americans demanded to know-without the slightest ambiguity-whether or not the president of the United States is an American citizen. Perhaps I am succumbing to the fever known as "conspiracy theor-itis," but I am hard-pressed to imagine how someone with America's worst interests at heart could have an agenda substantially different from the one being proposed by our current president. I find it incredible that the same mainstream media which found a twenty-year-old drunk diving charge lodged against the former president are uninterested in whether or not a basic tenet of our Constitution is being violated.

I love this country-warts and all. Those seeking to completely remake it like to think of themselves as patriots, but their ambitions betray them. They yearn for a Euro-lite, socialist nation where entitlement, mediocrity and victimhood are embraced, and Americans are, as Churchill put it, "equally miserable." We're better than that. Far better.

SOURCE

For more postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here or here or here

****************************

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

****************************

Friday, March 06, 2009

The Obama Economy

Obama is the new FDR -- the man who created the Great Depression by his anti-business policies

As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem.

Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence -- and thus a longer period of recession or subpar growth.

The Democrats who now run Washington don't want to hear this, because they benefit from blaming all bad economic news on President Bush. And Mr. Obama has inherited an unusual recession deepened by credit problems, both of which will take time to climb out of. But it's also true that the economy has fallen far enough, and long enough, that much of the excess that led to recession is being worked off. Already 15 months old, the current recession will soon match the average length -- and average job loss -- of the last three postwar downturns. What goes down will come up -- unless destructive policies interfere with the sources of potential recovery.

And those sources have been forming for some time. The prices of oil and other commodities have fallen by two-thirds since their 2008 summer peak, which has the effect of a major tax cut. The world is awash in liquidity, thanks to monetary ease by the Federal Reserve and other central banks. Monetary policy operates with a lag, but last year's easing will eventually stir economic activity.

Housing prices have fallen 27% from their Case-Shiller peak, or some two-thirds of the way back to their historical trend. While still high, credit spreads are far from their peaks during the panic, and corporate borrowers are again able to tap the credit markets. As equities were signaling with their late 2008 rally and January top, growth should under normal circumstances begin to appear in the second half of this year.

So what has happened in the last two months? The economy has received no great new outside shock. Exchange rates and other prices have been stable, and there are no security crises of note. The reality of a sharp recession has been known and built into stock prices since last year's fourth quarter.

What is new is the unveiling of Mr. Obama's agenda and his approach to governance. Every new President has a finite stock of capital -- financial and political -- to deploy, and amid recession Mr. Obama has more than most. But one negative revelation has been the way he has chosen to spend his scarce resources on income transfers rather than growth promotion. Most of his "stimulus" spending was devoted to social programs, rather than public works, and nearly all of the tax cuts were devoted to income maintenance rather than to improving incentives to work or invest.

His Treasury has been making a similar mistake with its financial bailout plans. The banking system needs to work through its losses, and one necessary use of public capital is to assist in burning down those bad assets as fast as possible. Yet most of Team Obama's ministrations so far have gone toward triage and life support, rather than repair and recovery.

AIG yesterday received its fourth "rescue," including $70 billion in Troubled Asset Relief Program cash, without any clear business direction. (See here.) Citigroup's restructuring last week added not a dollar of new capital, and also no clear direction. Perhaps the imminent Treasury "stress tests" will clear the decks, but until they do the banks are all living in fear of becoming the next AIG. All of this squanders public money that could better go toward burning down bank debt.

The market has notably plunged since Mr. Obama introduced his budget last week, and that should be no surprise. The document was a declaration of hostility toward capitalists across the economy. Health-care stocks have dived on fears of new government mandates and price controls. Private lenders to students have been told they're no longer wanted. Anyone who uses carbon energy has been warned to expect a huge tax increase from cap and trade. And every risk-taker and investor now knows that another tax increase will slam the economy in 2011, unless Mr. Obama lets Speaker Nancy Pelosi impose one even earlier.

Meanwhile, Congress demands more bank lending even as it assails lenders and threatens to let judges rewrite mortgage contracts. The powers in Congress -- unrebuked by Mr. Obama -- are ridiculing and punishing the very capitalists who are essential to a sustainable recovery. The result has been a capital strike, and the return of the fear from last year that we could face a far deeper downturn. This is no way to nurture a wounded economy back to health.

Listening to Mr. Obama and his chief of staff, Rahm Emanuel, on the weekend, we couldn't help but wonder if they appreciate any of this. They seem preoccupied with going to the barricades against Republicans who wield little power, or picking a fight with Rush Limbaugh, as if this is the kind of economic leadership Americans want.

Perhaps they're reading the polls and figure they have two or three years before voters stop blaming Republicans and Mr. Bush for the economy. Even if that's right in the long run, in the meantime their assault on business and investors is delaying a recovery and ensuring that the expansion will be weaker than it should be when it finally does arrive.

Source. Background on FDR here, here, here, here and here

***********************

Brookes News update

Obama's spend, tax and borrow policies will wreck the US economy : Obama's massive spending binge is built on a myth. A myth that could have the severest consequences for American living standards. His administration's understanding of how economies works is minus zero. He and his advisors are infatuated with statist solutions for problems created by statist policies and lousy economics
American union leader's wage argument collapses along with Krugman's : Mike Fishman, like his fellow union leaders, is a thoroughgoing economic ignoramus who doesn't give a stuff about America. His argument in favour of compulsory unionism is totally dishonest and anti-democratic. Moreover, the idea that unions raise living standards is a dangerous myth that the left and the Democrats have fostered. If Obama gets his way union militancy could see a replay of 1937 when it destroyed a potential economic recovery
What is Obama's 'Stimulus' bill all about? : Obama's phony stimulus will supply the corrupt Democratic Party with billions of taxpayers' money for years to come. It will give it opportunity to become the dominant political party for the next generation massive payoffs to the special interests, creating millions of dependents and setting up more bureaucracies that will defend their interests, They want a one-party system headed by a popular man and they damn well intend to get it. By electing Obama did America's inadvertently deal a fatal blow to the very foundation of their republic?
The Obama Steamroller: Is resistance futile? : If Obama wins two terms he will turn the US into a European like economy, with much slower growth prospects, crushing deficits, increased entitlement and spending as far as the eye can see. And of course, there will be the need for ever higher tax rates on the diminishing share of the population who pay income taxes, and for ever larger amounts of debt to be financed mostly by foreigners. Europe will have arrived. Obama will have succeeded in his dream to destroy America as a superpower. He will have done to the US what Peron did to Argentina. It won't be "Don't cry for me, Argentina" but "Don't cry for me, America"
Obama's Economics: Financial Stability, or Fascist Decline?: History and economics is not on the side of the Obama administration. Yet as long as he continue to insist on a government solution, so long will the market continue to flounder and corporations fail. And the blame will rest securely on his government which will have manipulated the economic crisis for its own selfish ends
Mandating markets for wind power - a stealth tax on electricity consumers : Federal and some state governments stand accused of trying to impose stealth taxes on electricity consumers by forcing power retailers to buy expensive power from inefficient and costly renewable energy sources. There are no climate benefits whatsoever in forcing consumers to buy an increasing proportion of their electricity from expensive and unreliable suppliers like wind farms

*******************************

ELSEWHERE

Obama's Crooked Cabinet: Yet Another Post Nominee Turns Out to Be a Tax Evader: "Former Dallas mayor Ron Kirk, who is President Obama's nominee to be the U.S. trade representative, failed to pay almost $10,000 in taxes during the past three years because of a series of mistakes, the Senate Finance Committee said this week. Kirk's errors involved honoraria from speeches, on which he should have paid taxes; the cost of sports games, for which he deducted too much; and improper treatment of accounting fees on his income taxes. Kirk has agreed to file amended returns, the Washington Post reports. An Obama spokesman declared the issues "minor" and said the administration is confident that the nomination is on track for a scheduled hearing Monday with the Finance Committee. "

Useless British regulator: "The Financial Services Authority is facing a multimillion-pound compensation claim from a group of investors who say that the City watchdog failed to stop the activities of a suspected rogue trader. Former clients of GFX Capital Markets, which has collapsed with estimated losses of Å“44 million, say that the FSA knew of serious concerns about its boss, Terry Freeman, but allowed him to continue trading. The accusation comes as the regulator is struggling to cope with the most serious loss of public confidence in its decade-long history. It was accused of being negligent in its monitoring of Northern Rock, the mortgage lender that was nationalised last year, and the regulator's chairman, Lord Turner of Ecchinswell, has been forced to draw up radical plans to improve its ability to police the City. The Times understands that FSA officials had gathered intelligence on Mr Freeman, 60, a foreign exchange trader, for more than two years. The authority knew that he had changed his name after being disqualified as a director in response to a conviction."

Dumb Turkish pilots caused crash: "A faulty altimeter and apparent inattention by the pilots caused the Turkish Boeing 737 crash in Amsterdam, the accident investigation showed yesterday. The investigators' preliminary report confirmed the widespread theory that the pilots let the automatic systems slow the plane to a dangerously low speed as it approached Schiphol airport. At 450ft, as the pilots scrambled to speed up, it stopped flying and flopped on to the ground, killing the three flight deck crew and six others on board. The radio altimeter had "told" the automatic flight system that the plane was 8ft below the surface when it was still nearly 2,000ft in the air. This caused the autothrottle to pull back the power to idle, as if the plane were touching down. Normally, pilots are expected to monitor the performance of the automated approach system. According to a conversation recorded between the plane's captain, first officer and an extra first officer on the flight, the pilots had noticed the faulty altimeter earlier but did not consider it a problem and did not react" [Contrast that with the video here]

For more postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here or here or here

****************************

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

****************************

Thursday, March 05, 2009

Taxing "The Rich"

Obama is trying to get tax hikes on "the rich" through Congress to pay for all his promises to other people. But his simplistic Leftist worldview seems to have prevented him from seeing who the people are whom he proposes to tax more. Who are the people earning over $250,000 a year whom Obama wants to hit? Income is a sort of a pyramid. There are a few very rich people at the top but most of "the rich" whom Obama wants to tax are near the base of the pyramid: fairly close to that $250,000 mark. And most of them are hard-working people: doctors, dentists, businessmen and professionals generally.

So will they just pay the extra tax and grin and bear it? If the tax increase were limited to paying 39.6% instead of 33% on any income above $250,000, those just over the mark might not think the change worth bothering about -- and sneering Leftist Jonathan Chait makes that point. But Chait fails to acknowledge that there is a lot more to Obama's tax proposals than the new top rate. Obama also wants to cut out a lot of tax deductions available to those earning over $250,000 and he also has proposed increasing their tax rate on capital gains and dividends from 15 to 20 percent. So many professionals will take a fairly big hit if they carry on as before. So lots of them will reorganize their affairs so that Obama gets exactly nothing extra from them.

And The Corner has a collection of emails from high earners that gives lots of detail about what many of them will do. One example:
"My wife and I are both pediatricians. We own our own practice together. We have one PA and 7 other employees. We each gross about $200 K a year. We have 3 young children at home, 2 of whom are not in school. We also employ an in-home nanny. My wife has been torn for years about not being at home for these children, which are our biggest investment in the future. We operate parallel S corporations as PC's, with a 50/50 ownership of the LLC that is our business. We file taxes jointly. After crunching some numbers concerning the President's tax hike proposals, I have come to the following conclusions. If the President's plan is enacted, we will do the following:

1. My wife will become a stay at home mother.

2. At least 3 of my 7 employees will be released.

3. The practice will downsize to a smaller office space, i.e. less rent.

4. The number of patients cared for on a daily basis will drop by 40%.

5. My wife will come out of the forced ER call schedule for good.

6. I will gross $249,999.00 a year, exactly.

7. The net income of our personal home will decrease by less than $10 K a year from where it would have been if we changed nothing.

So a lot of important service providers will reduce the services they provide in response to the simple-minded ideas of the simple-minded Leftist in the White House -- and America will be the poorer for it. Wealth is not money. Wealth is the goods and services that money can buy and reduced services available reduces the total national wealth. And that's no abstraction. As one of my medical correspondents notes:
"Seeing that almost half of doctors are women, and most are married and many have children, it should be obvious that many will reduce their hours worked. And with all the problems that Obama Care will create, there WILL be a shortage of doctor hours to care for patients. So EVERYONE will EQUALLY WAIT IN LONG LINES FOR CARE.

Another relevant excerpt which shows that the loss of wealth will be large:
"President Lyndon Johnson's administration was known for his War on Poverty. President Obama's will become notable for his War on Prosperity. We're speaking, of course, of Obama's plans to hike income taxes on the most wealthy 2 or 3 percent of the nation. He's not just raising the top rate to 39.6 percent; he's also disallowing about one-third of top earner's deductions, whether for state and local taxes, charitable contributions or mortgage interest. This is an effective hike in their taxes by an average of about 20 percent.

And soon the next shoe will drop - he'll announce that he's keeping yet another of his campaign promises: to apply the full payroll tax to all income over $250,000 a year. (Right now, the 15.3 percent Social Security tax only applies to the first $106,800 of income - you neither pay the tax on income above that, nor accumulate added benefit.) For many taxpayers in this bracket, this hike will raise their total taxes by about half. Finally, he's declaring war on investors by raising the capital-gains-tax rate to 20 percent. These increases are politically insignificant: The top 2 percent of the nation casts only about 4 percent of the votes, barely enough to attract the notice of even the most meticulous pollsters. But they have enormous economic significance. Those who earn more than $200,000 pay almost 60 percent of America's income taxes and account for a third of its total disposable income. If these spenders and investors are hunkering down, waiting for the revenuers to beat down their doors, their confidence will be anything but robust. Their spending will drop; they'll be unlikely to invest (except in new tax shelters)."

So Obama's increase in the tax rates could well bring about not an increase but a REDUCTION in the amount of tax revenue received.

**************************

Obama's attack on American oil producers

When there are huge cries for energy independence, Dumbo is doing his best to throttle the investment that could make it happen

Last summer, when the price of oil rocketed nearly to $150 per barrel, presidential candidate Barack Obama scored political points by calling for a windfall-profits tax on the so-called "Big Oil" companies. Obama's plan was to wallop them with extra taxes for every barrel they sold, so long as prices remained over $80 per barrel. By Inauguration Day, though, the global economic crisis and plummeting oil demand had driven prices to less than $30 per barrel, and with no windfall profits available to tax (and gas prices at the pump no longer an issue), the Obama team quietly dropped the idea. But now, in his proposed budget, Obama has found a new outlet for his desire to punish Big Oil-and, ultimately, the American public-with higher taxes.

Announced last week, the president's budget aims to raise more than $31 billion from energy producers over the next ten years by assessing new levies, repealing existing tax deductions, and rejiggering accounting rules. Among the new charges is an excise tax on oil and gas production in the Gulf of Mexico, which the administration hopes will raise $5 billion over 10 years. Obama also wants to limit companies' ability to deduct their oil and gas drilling costs, thereby raising their taxable income. And he would impose a fee on non-producing oil and gas leases in the Gulf of Mexico on top of the rents and fees companies already pay for leases.

This last item supports a dubious claim made by Speaker of the House Nancy Pelosi and others during last summer's high-gas-price hysteria: that Exxon Mobil and its brethren were limiting supply and boosting prices by refusing to produce oil and natural gas from federal leases that they held. What the conspiracy theorists never mentioned was that companies must pay rents on leases whether they produce or not, and that companies buy leases from the government for the right to investigate whether the sites contain extractable resources. Often, of course, they don't contain enough extractable oil or gas to make drilling worthwhile, though the government keeps all fees and royalties. There are other instances in which leases are legitimately non-producing. Leaseholders must negotiate an expensive bureaucratic maze to gather the necessary environmental permits to begin exploration and drilling. That can take years. Moreover, environmental organizations like Earthjustice and the Sierra Club routinely take leaseholders to court as a way to sow delay and drive up energy companies' costs.

Perhaps the surest sign that Obama wants to go after the oil and gas industries is his proposal to make them completely ineligible for the manufacturing-tax deduction. Congressional Democrats have long sought this move, calling it a repeal of a special tax break that Washington supposedly gives the petroleum industry. The reality is just the opposite: the manufacturing-tax deduction is available to virtually every manufacturing industry in the United States, not just oil and gas producers. Denying the deduction to Big Oil won't snatch away an ill-gotten favor in the name of fairness; it will unfairly penalize an industry denounced in recent years for the sin of making money.

More here

*********************

ELSEWHERE

Corporatism: FDR's "right path" is alive and well! : "`I believe that President Roosevelt has chosen the right path. We are dealing with the greatest social problem ever known. Millions of unemployed must get their jobs back. This cannot be left to private initiative.' And, sure enough President Barack Obama's overall Budget will generate hundreds of thousands of new jobs in the Government sector, people who will be grateful voters in the next election. Here is the Washington Post's piece on that: I'll bet readers thought the opening quote above was perhaps by our President Barack Obama, an admitted admirer of the New Deal. Actually, it was Joseph Goebbels, Hitler's propaganda chief, in 1933, speaking admiringly of the New Deal as the way for National Socialism to follow."

Obama's audacious agenda: Who's paying for it? : "Audacity on steroids. How else to describe the Obama administration's fiscal 2010 budget proposal, unleashed on an American public so staggered by the events of the last few months that they cannot comprehend the magnitude of the plans Mr. Obama and his still-inchoate Cabinet have for the nation. The list of problems the new president has resolved to put right reads like a roll call of the loftiest policy ambitions of every administration since FDR. . That each of these projects failed to one degree or another would give pause to most administrations intent on tackling any one of them. By contrast, Obama has declared that, amidst the greatest financial crisis since World War II, he will solve all of them."

Stimulus bill is really lawyers' full employment act: "A law firm announced last week it was building a special legal team to help its clients acquire some of the $787 billion in the stimulus bill. `We recognize this is an extraordinary opportunity to help advance the interests of our clients,' said team leader Doug McGarrah of Foley Hoag LLP, with offices in Boston and Washington, DC. The clients will need all the help they can get, because deciphering the legal complexities of the stimulus bill is going to occupy lawyers for decades."

An uncharitable tax : "The federal government budget proposed by the president imposes higher taxes on incomes above $250,000. One of the provisions is that charitable donations would no longer be tax deductible. . Without a tax deduction, charitable donations get tax punished. When the beneficiaries of donations are the poor and other good causes, these suffer from fewer gifts. A tax on charitable donations hurts the homeless, the hungry, the wildlife that does not get preserved, the ignorant who do not get educated, and all humanity which loses knowledge and more of its natural legacy. When government taxes the rich like this, it taxes the poor."

Mormon polygamy: Your tax dollars at work: "One of the things I mentioned to Jessop was how I was convinced that Mormon polygamy, for the most part, could not survive without the active help of government. Officially none of the multiple wives are legally married - they are single mothers eligible for all sorts of financial aid from the county, state and federal governments. When you consider that the media age in polygamous Mormon communities is around 12 or 13 you will understand precisely how many millions of dollars politicians are willing to give the sect `for the sake of the children.' Jessop agreed and said: `You can't support three kids these days by yourself, let alone 28.' She confirmed that millions in taxpayer funds were flowing in to polygamous communities keeping the[m] alive. Jessup says that these communities have individuals whose job is to write up grant proposals and submit them to various levels of government. So housing rehabilitation grants, highway grants, educational grants, development grants, etc., pour into these communities. With virtually no separation of church and state in these communities, the church uses the millions showered on the local governments, for its own purposes. Arizona Attorney General Terry Goddard said that the polygamists `proved themselves the master of grant applications.'"

For more postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here or here or here

****************************

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

****************************