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. Obama's attachment to "transparency" — the buzzword of the day — allows all intelligent people to observe the sickening sight in real time, and to the cheers of the kept class of intellectual phonies like Ben Bernanke and Paul Krugman.
The encouraging thing — and perhaps this too was inevitable — is that the right wing is getting its act together. It has suddenly discovered that economics matters. You can cheer on the hot wars, fight the culture wars, and crack down on political dissidents all you want. But in the end, what makes for the good society is a sound economy. Without it, all the rest falls apart.
Mises Daily by Llewellyn H. Rockwell, Jr. | Posted on 3/6/2009 12:00:00 AM
Please take the time to watch the following 3 videos. This stuff is very important! "We the people" must grasp the reality of what confronts us. Washington cannot fix these problems. After all ... it was Washington that created them in the first place!
The first video is legendary investor Jim Rogers on CNBC warning of an "inflation holocaust." He may not use "hopey" and "changey" language, trying to "talk positive" and create "confidence," but instead he just speaks the truth, tells us what he sees, and offers some advice.
The second video is Peter Schiff, president of Euro Pacific Captital Inc., and who also served as the economic advisor to Rep. Ron Paul's 2008 presidential campaign.
Yes, I'm aware "Republicans" don't like Ron Paul (the only guy in Washington with principles), but in contrast to Sen. John McCain "suspending his campaign" to sign a $700 billion taxpayer giveaway, and then further proposing that taxpayers buy up billions in troubled mortgages, this is what Schiff (and Paul) had to say:
We need a plan that stimulates savings and production not more of the reckless borrowing and consumption that got us into this mess in the first place. Ron Paul's plan is the only one that amounts to a step in the right direction.
What? Savings and production over borrowing and spending?
Na, c'mon now ... that's black-helicopter crazy talk!
In our third video, former Comptroller General of the United States, David Walker, explains in detail, the incredible financial disaster that is our federal government.
The worst part is ... this video was shot before TARP, the Obama "stimulus," or any of the other endless bailouts our government engages in daily (or at least it sure does seem like it's daily).
