Why do people believe politicians when they talk about things other than politics? Why are the only scientists that say the earth is warming, the only ones getting government grants? I wish people would realize that this “Global Warming” is nothing more than a scam to collect more taxes.
How great does this quote by the late Baptist pastor, Adrian Rogers, relate to what our government is trying to do? I wish people weren’t so uninformed.
You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation.
The history of the word “bailout” is spotty at best. My handy not-quite-the-real-OED has no etymological definition. Merriam-Webster, who chose “bailout” as the word of 2008, gives a lame definition with a general reference to the year 1951:
: a rescue from financial distress
But what does that have to do with finance?
Read More | 2008 Word of the Year
In honor of Merriam-Webster’s 2008 word of the year, bailout, we will focus this week’s efforts of The Werd on the big story of the year.
To start the discussion, I will suggest these two great charts:
Part One explains the many reasons for the financial crisis; Part Two suggests an alternative bailout that punishes those who benefitted from the bubbles without extracting social funds already marked for public programs such as social security or retirement funds (as the current bailouts do). This expert work shows how solutions to our problems are not beyond our ability, but merely beyond the imagination of our current leadership.
We’ll dig in on Tuesday with my precious take.
Read More | Merriam-Webster's 2008 Word of the Year
So… January 20, 2009, history takes its latest bow when President-Elect Barack Obama is sworn in as America’s 44th Chief Executive. The fortunate ones lucky enough to secure Inauguration tickets will brave arctic temperatures as the rest of America watches this latest chapter in US history unfold on an ocean of televisions from Seattle to the Florida Keys.
January 21, 2009 will mark the real onset of what might be called the Altering Era. That’s the day the President-Elect enters the Oval Office and starts work on a world of problems. What follows is a best guess at what to expect from Barack’s first hundred days in office.
Socialism, since it’s birth, has been centered around the idea of more government control and distribution of wealth, or “spreading the wealth around,” as Democratic Presidential Nominee Barack Obama likes to say. What I like to say is, you can put lipstick on socialism, but it’s still socialism.
How do people believe his campaign’s spin on Obama’s own words that he wants to “spread the wealth?” I can’t believe that with only eight days left until the election, this 2001 Barack Obama interview is only now starting to make it’s way around the internet and other outlets.(not the mainstream media…of course).
Read More | The Wall Street Journal
If you don’t know who Joe The Plumber is, you must not watch the news, read the paper, or listen to talk radio. The guy, whose now famous meeting with Democratic Presidential Candidate Barack Obama, is the talk of the town. You can see who he is, and why he’s so popular now, in one of my earlier blogs.
I found an interesting article that would interest Joe The Plumber, who’s real name is Joe Wurzelbacher. It basically states that if Wurzelbacher wants to achieve his goal of buying the business he’s working for, he’s going to have trouble competing for federal contracts.
Read More | Market Watch
In this video, Democratic Presidential Nominee Barack Obama, tell this plumber that he’s going to raise his taxes, to redistribute his earnings to people in lower brackets. Whatever happened to earning money?
Social Security (SS) is called the third rail of American Politics; when, in truth, it’s just a third rail period! Within the next ten years outlays for Social Security will exceed incoming revenue from SS taxes and things get really interesting. Now, you may be saying, what about all the money in the SS Trust Fund? Well, my friends, it’s time for a little truth about Social Security.
Since its inception, Social Security has generated an annual surplus; this means that after paying out current benefits, there is money left over. What happens to this money? It goes into the general fund (the same place the rest of your taxes go) and is spent on other programs. When the government spends the Social Security surplus it prints Treasury bond certificates equal to the amount that went into the general fund. Normally, Treasury bonds are sold on the open market. Again these are the same instruments that China has purchased, and the same bonds now being swapped for stocks and bonds in the current bailout. (See “Big Trouble in Little Washington”) The Treasury bonds printed for Social Security however, are quite different. By law they cannot be sold on the open market, they are stored in a vault in West Virginia. Had these bonds been sold on the market, they would have been inflationary (increasing the money supply) just like regular Treasury bonds.
Thanks to the wonders of the Internets, even those who weren’t able to catch the debates when they aired live (as well as those who don’t own TiVos) can still catch up on what exactly was said, without having to listen to the opinions of pundits and those in the media who may try to spin things.
We’ve got both of the dates that have happened thus far here for you. Above, the Vice Presidential debate between Joe Biden and Sarah Palin, originally from October 2. After the break we’ve got the first Presidential debate between Barack Obama and John McCain. That one took place on September 26 from the University of Mississippi in Oxford.
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