POLITICS: OBH44 and his economic illiterates

Thursday, February 4, 2010

http://kudlow.nationalreview.com/post/?q=NjU0MWQ0OWQ3OTI2OTgzMmUwMGM2NTUxMGRhMDcyYzY=

Wednesday, February 03, 2010
$2 Trillion in Tax Hikes Is Good for the Economy?   
Larry Kudlow

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Why not put more money into private pockets to spur growth — the free-market capitalist way? Why slam businesses, banks, and hedge funds to the tune of nearly $500 billion?

Once again, it takes liquidity from the private sector, reduces economic growth and the incentive effect, and gives money to the government.

Here’s the key point. All of these fat-cat, class-warfare, soak-the-(alleged)-rich tax-hike proposals actually reduce investment and capital formation so much so that jobs and wages will ultimately falter on Main Street. That’s what Team Obama is missing.

Taxing businesses and so-called “rich” people hurts ordinary working folks. That’s a fact. And that’s why this is a misbegotten policy. We’re not talking class warfare here; we’re talking growth. My way is the growth way. So far, the Team Obama way is a social policy on the left that has nothing to do with spurring jobs and economic growth.

*** end quote ***

Can’t drum it in to economic illiterates.

  • Companies don’t pay taxes; only real people do.
  • The government spends OUR money; it doesn’t EARN any. It does NOT create wealth.
  • A dollar taken by the gooferment is not available for other productive uses.
  • A dollar is not a store of value when the gooferment runs the printing press.
  • The political process is corrupt. It’s not a democracy; nor is it “representative”!

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Posted by reinkefj

MONEY: The debt will ensure that any freeze is a joke

Thursday, February 4, 2010

http://www.wnd.com/index.php?fa=PAGE.view&pageId=123352

Obama: The era of big government is … eternal
Posted: January 28, 2010
Larry Elder is a syndicated radio talk-show host

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What about the national debt – what we owe? According to the conservative think tank Heritage Foundation: “The public national debt – $5.8 trillion as of 2008 – is projected to double by 2012 and nearly triple by 2019. Thus, America would accumulate more government debt under President Obama than under every president in American history from George Washington to George W. Bush combined.”

The Big Entitlements – Social Security, Medicare and Medicaid – remain the incredible spending faucets set on automatic growth. Neither Obama and his party nor most “fiscally conservative” Republicans offer anything resembling a way out. Meanwhile, the band plays on.

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The Socialists aka Secular Progressives, will bankrupt us sooner or later.

How does the country survive?

Tax revolt by the payers.

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Posted by reinkefj

MONEY: Tax the banks; tax the people

Wednesday, February 3, 2010

http://dailyreckoning.com/false-hope-in-financial-free-lunch
/?utm_source=feedburner&utm_medium=feed&utm_campaign
=Feed%3A+dailyreckoning+%28The+Daily+Reckoning%29

False Hope in Financial Free Lunch
By The Mogambo Guru

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“President Barack Obama said Thursday he wants to tax banks to recoup the public bailout of foundering firms at the height of the financial crisis.”! Hahaha!

I am sure that you, being the astute Junior Mogambo Ranger (JMR) that you are, are laughing merrily with along with me – Hahahahahaha! – because this is so, so, so Theater-of-the-Absurd funny on so many, many, many levels, once you get beyond the horrifying, un-funny realization that it is abysmally, shockingly, alarmingly stupid on just the one level: it is a known fact that a tax on a business is just another expense to the business, like labor and raw materials, that is added to the prices that they must charge their customers in order to make a profit, which makes prices go up as the businesses raise prices to maintain their profit margins by recouping the tax they had to pay by, in case you haven’t been paying attention, raising prices, which is inflation, which is the one thing a country does NOT want, making a tax on business the most stupid thing you can do.

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I’m not laughing at the fool in the WH or all the other fools on the Hill. They are sooo dumb!

And, we’re just as dumb to not standing up to ALL of them.

(1) ANY tax on ANY company is dumb. EITHER: (A) the company takes this new cost and passes it along to the customers. (Might even mark it up a little, a la any regulated utility that has a license to steal!) OR (B) if the cost can’t be passed along due to (international?) competition, it goes out of business and closes down and let’s go all its employees. How dumb can one person, even the President, be?

(2) Banks are a special type of company. It deals in money. If you are supposedly trying to get the banks to loan money to Main Street to get the economy moving, taking money from them makes ZERO sense! Perhaps, the President may want to speak to to little Timmy tax cheat Geithner, who defends AIG rescue as essential (to Goldman Sachs) and Helicopter Ben, about the banks borrowing from Treasury at zero and buying Treasury Bills at 3%. Seems like that is worse than the bail out!

The “Corporate tax” should be ZERO. Only real people pay taxes!

Argh!

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Posted by reinkefj

POLITICAL: Energy independence; absent leadership

Monday, February 1, 2010

http://www.keywestlou.com/2010/02/sunday-is-supposedly-day-of-rest.html

My Life in Key West

Monday, February 1, 2010

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The article contained an observation that sticks with me. The United States has depended on the Middle East for years for its power supply, to wit: oil. That if the United States did not get into the manufacture of renewable energy quickly and in big time, our energy dependency in the future would move to the Far East. China!

And we would have replaced one less than friendly peoples for another in satisfying our energy needs.

All very interesting. Thought provoking. Part of Obama’s State of the Union speech.

Talk is one thing. Action another. Obama has to move us in the direction of manufacture and use of renewable energy dramatically. Now, not tomorrow. And everyone, Democrat and Republican alike, should support him in this endeavor. This is not a No issue.

*** end quote ***

(1) Unfortunately for us, OBH44 is an inexperienced “talker”; not a “do-er”. We need a “leader”; not a “community organizer”. Every politician lectures us about “energy independence”. Little gets done. If we still funded the Federal Government on tariffs and duties like the Dead Old White Guys wanted us to do, then the gooferment would be a lot smaller and less intrusive. AND, we’d have energy independence. because solutions here would be cheaper than imported oil from there. Maybe we might have a car industry too, instead of having sent allt he jobs overseas. Too late, we get smart. It might be way too late.

(2) With all the secession talk, maybe Mike and Tina can do some stuff for real. When the S hits the fan, maybe we can replace the FED’s “dollar” with a Constitutional gold and silver money. The we’d be once again the envy of the world with “honest money”. Maybe then we could get working on the national debt so that we don’t condemn the children to Haiti-like poverty. Inter-generational theft will be how we are remembered as the progeny try to pay off the Chinese.

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Posted by reinkefj

RANT: Media Bias – Cost the FDIC?

Sunday, January 31, 2010

http://finance.yahoo.com/news/Regulators-shut-banks-in-apf-1868747589.html?x=0&.v=2

Regulators shut down banks in 5 states
Regulators shutter banks in Calif., Fla., Ga., Minn., Wash., totaling 15 bank failures in 2010
By Marcy Gordon, AP Business Writer , On Friday January 29, 2010, 10:48 pm EST

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WASHINGTON (AP) — Regulators shut down a big bank in California on Friday, along with two banks in Georgia and one each in Florida, Minnesota and Washington. That brought to 15 the number of bank failures so far in 2010 atop the 140 shuttered last year in the punishing economic climate.

The failure of Los Angeles-based First Regional Bank, with nearly $2.2 billion in assets and $1.9 billion in deposits, is expected to cost the federal deposit insurance fund $825.5 million.

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And, where, pray tell, does the FDIC get “its” money?

Yes, the taxpayer.

Either directly or indirectly.

Neither the gooferment, nor any corporation, have ANY money that doesn’t originate from a real person.

Some of the FDIC money is extracted from the banks that it “insures”, but that is extracted by the surviving banks from its customers which are, presumably, taxpayers.

Now, with the supposed “insurance” fund broke, it gets “its” money from the Treasury which means we borrow it from China!

Argh!

Hopefully, the AP writer will learn that 825.5 comes from the poor taxpayer.

And, we wonder why we are in a depression?

Economic illiteracy!

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Posted by reinkefj

POLITICS: A spending freeze? Is he kidding me?

Thursday, January 28, 2010

reinkefj has left a new comment on the post “A spending freeze? Is he kidding me?”:

Amazing when the wacko left and the wacko right agree, a spending freeze is just dumb. What he needs to do is what he promised in the campaign. Sit down with the Federal budget and a red pen.

Freezing spending at current levels is just enshrining the past mistakes.

imho, for example, milk and sugar price supports. We pay money so that people have to pay higher prices?

imho, minimum wage, that puts minority youths out of work. If there is a marginal worker, he’s out as opposed to making a few bucks. And, it cost the taxpayers in all sorts of ways.

imho, military bases in 170 countries. Let have some base closings in strange places.

That’s the way to “freeze” spending.

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It merely “freezes” the increased spending of the past decade. Argh!

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INTERESTING: Fixing Haiti long-term

Saturday, January 23, 2010

http://economics.gmu.edu/wew/articles/10/Haiti%27sAvoidableDeathToll.htm

A MINORITY VIEW
BY WALTER WILLIAMS
RELEASE: WEDNESDAY, JANUARY 20, 2010

Haiti’s Avoidable Death Toll

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The way out of Haiti’s grinding poverty is not rocket science. Ranking countries according to: (1) whether they are more or less free market, (2) per capita income, and (3) ranking in International Amnesty’s human rights protection index, we would find that those nations with a larger free market sector tend also to be those with the higher income and greater human rights protections. Haitian President Rene Preval is not enthusiastic about free markets; his heroes are none other than the hemisphere’s two brutal communist tyrants: Venezuela’s Hugo Chavez and Cuba’s Fidel Castro.

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We can’t fix it, but let’s keep the crooked leaders out of the USA. Persona Non Grata.

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TECHNOLOGY: ENUM won’t be implemented by the vested ISPs

Saturday, January 23, 2010

http://arstechnica.com/business/news/2010/01/enum-dragging-telephone-numbers-into-the-internet-age.ars/2

ENUM: Dragging telephone numbers into the Internet Age

E-mail, IM, Facebook, phones—what if all of these ways to reach you over a network could be condensed into a single, unique number? The ENUM proposal aims to do just that, by giving everyone a single phone number that maps to all of their identifiers. Here’s how it works, and why it isn’t already widely used.

By Rudolf van der Berg | Last updated January 13, 2010 11:30 PM

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The main issue is that the ENUM standard (RFC 3761) demands that ENUM is a public service and that the control of the telephone number lies in the hands of the end-user. For this reason, it’s known as “Public-” or “User ENUM.” This is all in line with the Internet’s user- and endpoint-centric creed. This becomes quite clear if you read, for instance, the documentation of Nominet, which controls the UK’s ENUM registry (the +44 registry). It explicitly states that users can bypass their communications provider when they register in the ENUM registry. A significant amount of money is made by today’s telephony providers (be they traditional providers or ISPs providing VoIP bundled with Internet access). Telephony providers see User ENUM as a threat to their bottom line and are therefore not keen on introducing the technology nationally.

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The inet was driven by motivated individuals, not gooferments, not ISPs, not companies.

We need to get back to the fast innovation cycle of the old inet!

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Posted by reinkefj

JOBSEARCH: A relo is a test of faith?

Thursday, January 21, 2010

http://www.irishcentral.com/ent/Conan-OBrien-will-leave-Tonight-Show-81160232.html

Conan O’Brien will definitely leave ‘Tonight Show’
By ANTOINETTE KELLY
IrishCentral.com Staff Writer
Published Monday, January 11, 2010, 2:43 PM

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“Conan uprooted his family, his life and moved to Los Angeles and they have not given him enough time” the friend said. “It is outrageous what they have done to him.” O’Brien’s family is extremely upset that the massive lifestyle change they made and the new responsibility O’Brien assumed has been taken so lightly by NBC.

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It certainly is a good lesson to anyone considering a corporate relo deal.

I remember one fellow getting axed as his plane was enroute from Sweden to Houston and he was so screwed.

To relo, you MUST HAVE a contract. History is replete with lessons. If they won’t give you one, how can you trust them?

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INTERESTING: Dangerous impact of globalization

Sunday, January 17, 2010

http://www.telegraph.co.uk/earth/agriculture/farming/6958013/The-dairy-farmer-reduced-to-tears.html

The dairy farmer reduced to tears
By Olga Craig
Published: 9:30PM GMT 09 Jan 2010

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All across the country, diary farmers are facing the loss of their livelihood. In 1985, there were 28,000 diary farmers in England and Wales. By last November, when Mr Rickatson became one of the nine dairy farmers that throw in the towel each week, there were 11,551 left. As recently as two years ago Britain was self-sufficient in milk. Now we import 1.5 million litres a day. For the farmers who struggle on, their working lives – and that of their herds – have become a grind: such is their despair that one a week commits suicide.

*** and ***

The chief villains are the supermarkets which, by driving down milk prices, are forcing farmers to intensify production or go out of business and leave the way clear for foreign imports. Currently one litre of full fat milk costs around 75p – of which farmers get around 26p, the exact cost of producing it.

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Interesting.

And, what happens when “foreign imports” can’t or won’t come?

Surely this is happening all around the world. The movie Gandhi had moving sequences about national economics.

Maybe Pat Buchanan is right?

How does one maintain a minimum national capability to feed itself?

It must all revolve around the definition of money?

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