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Shock: Big banker, up to no good, would rather not be audited

Posted by Jeff (ILoveCapitalism) at 9:51 am - February 27, 2015.
Filed under: Depression 2.0,Economy,Socialism in America

Refresher: The Federal Reserve Bank is not a government agency. It is the world’s largest private bank. Government has given it special privileges to basically:

  • counterfeit money (i.e., create it from thin air);
  • fix key prices in the economy (interest rates);
  • tax Americans indirectly (by creating inflation/money and financing government with the proceeds);
  • goose the financial markets for the proverbial “one percent” – which includes government officials themselves;
  • bail out irresponsible/incompetent banks – and (via measures of “regulation”) prevent up-and-coming banks from challenging them;
  • generally plan the markets (create bubbles, followed of course by crises);
  • plan the number of crappy, part-time jobs that Obama’s economy can create for the little people;
  • and escape the Freedom of Information Act.

So, from The Hill’s coverage of Janet Yellen’s testimony to Congress on Wednesday:

The biggest challenge to the Fed’s structure is the growing movement to Audit the Fed via legislation from Sen. Rand Paul (R-Ky.)…

A GOP-controlled Congress has given the bill its best chances yet of passage, and that renewed interest led Yellen to deliver her most spirited opposition yet.

“I want to be completely clear,” she said. “I strongly oppose Audit the Fed.”

Surprise, surprise.

Hat tip, ZH.

A Reminder: Detroit Is a Sewer Cesspool

Last month, there was a brief internet infatuation with James Robertson, a resident of the Democrat Stronghold of Detroit, Michigan. People were inspired by his 20 mile daily commute… on foot… to his factory job, and were so moved that they raised over $3oo,000 for him on GoFundMe, and a local Ford dealership presented him with a new car. And this was all done voluntary, without any bureaucratic coercion from the Federal Government, because people wanted to show support for someone who demonstrated good values and a good work ethic.

But after his story went viral, the parasites who make up the city that has been run (into the ground) by progressive left Democrats for fifty years decided that Robertson should… gee, how to say it… “Spread the wealth around.”

After that, everybody knew him. And everybody wanted something. The neighborhood started showing up on his porch with their palms out, though Robertson has yet to receive any of the money. His girlfriend — the one who owns the house and charges him 200 bucks for the bedroom — demanded a payout, he said. So did her ex-husband who lives with them. So did her adult son who lives with them. So did the other dude who lives with them.

Safe bet that none of those people would ever walk 20 miles a day to get to a job. The upshot is, Robertson had to move to a secret location, under police protection, because in Detroit, if people think you have some money, they will kill you to get to it.

I just wonder where they got the idea that just taking stuff from people who are better off than you was fair and just.

43% of Democrats Want Obama to Rule as Dictator

Posted by V the K at 10:28 pm - February 20, 2015.
Filed under: Socialism in America

You think we’re just being rhetorical when we label them fascists?

The latest Rasmussen Reports national telephone survey finds that 26% of Likely U.S. Voters think the president should have the right to ignore federal court rulings if they are standing in the way of actions he feels are important for the country. Sixty percent (60%) disagree and say the president should not have the right to ignore the courts. Fifteen percent (15%) are undecided.

But perhaps more unsettling to supporters of constitutional checks and balances is the finding that 43% of Democrats believe the president should have the right to ignore the courts. Only 35% of voters in President Obama’s party disagree.

That should be horrifying.

Hey Liz: Here’s why you are a socialist

Posted by Jeff (ILoveCapitalism) at 9:45 pm - February 11, 2015.
Filed under: Academia,Economy,Leftist Nutjobs,Socialism in America

Picking this up from V’s post of a week or two ago, Elizabeth Warren does not understand why people think she’s a socialist.

(Please, I need a moment to stop giggling. It’s as if President Obama were to say he does not understand why people think he’s a liar. Air gasp. OK, I think I can go on.) – Warren said:

I just don’t know where [people] get that [idea of her being a socialist]. You know, look at the issues. I mean really, let’s take a look at minimum wage — I just believe nobody should work full time and live in poverty…Student loans: I don’t think the U.S. government should be making tens of billions of dollars in profits off the backs of our students, which is what the current student loan system is doing…

Never mind that Warren proposes the U.S. government to *lose* tens of billions of dollars on student loans. Let’s go straight to Kevin Williamson, defining socialism:

The current Random House Dictionary definition of “socialism” is serviceable but dated: “a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.”…

[Dated, because] It should read “ownership -or- control” rather than “ownership -and- control.” As we have seen in the cases of enterprises such as Fannie Mae and Freddie Mac, it is entirely possible for government economic planners to intervene deeply (and, in this familiar case, catastrophically) in the economy while maintaining private economic forms…

A more complete definition of socialism incorporates two criteria: The first is that socialism entails the public provision of non-public goods. The second is the use of central planning to implement that policy.

And that, Liz, is why you are a socialist.

  1. You want the public purse to pay for *private* goods (goods that benefit the individual primarily, if not exclusively). For just one example, you want government to fund special young people on a costly, but often low-benefit, multi-year jaunt that we politely call “college”.
  2. And you believe in a planned economy. For just one example, you want government to dictate the minimum wage at which a worker may offer her work (or else you will not permit any employer to give her work).

For the record: I don’t and I don’t. So, I’m not.

Can We Stop Pretending?

Posted by V the K at 4:33 pm - January 29, 2015.
Filed under: Socialism in America

The Communist Party of the USA has announced that it will throw its support to the Democrat Party in future elections.

One of the leading Democrat candidates for president is an open socialist; and another is a not-quite-closeted-socialist.

The Democrat Mayor of New York City spent his college breaks helping the Communist Regime in Nicaragua, and honeymooned in Communist Cuba.

Let’s just stop pretending the Democrat Party isn’t what it denies being.

The Democrat Left’s Adoration for Totalitarian Communism

Posted by V the K at 7:52 am - January 8, 2015.
Filed under: Socialism in America

Trust-fund environmental activist and Democrat scion Robert F Kennedy, Jr professes great admiration for Cuban-style totalitarianism.

Cuba has managed some impressive accomplishments. Cuba’s government boasts the highest literacy rates for its population of any nation in the hemisphere. Cuba claims its citizens enjoy universal access to health care and more doctors per capita than any other nation in the Americas. Cuba’s doctors, reportedly, have high quality medical training.

Unlike other Caribbean islands where poverty means starvation, all Cubans receive a monthly food ration book that provides for their basic necessities.

Mr Kennedy, we do have places in America where the Government provides everybody with a daily food ration and state-provided health care, as well as guaranteed shelter, clothing, and literacy programs. They are called ‘prisons.’

Is there any point to having 100% literacy if the only thing you are allowed to read is Government propaganda? Is there any point to universal health care if you have no freedom to enjoy life? If the Government provides you a daily ration of food but provides you no freedom, then how is that any different than a rancher providing hay and grain to his cattle?

Update: The left’s vision for America: A giant, government-run Indian Reservation.

#Fergudishu Protester Auditions for MSDNC Slot

This kid’s got a pretty good shot at being the next Al Sharpton; of course, he hasn’t gotten anyone killed yet. So that’s kind of a deal breaker, I guess.

Joshua Williams has been everywhere: protesting in Ferguson, Mo., Washington, D.C., and Cleveland, Ohio. Now, he is in St. Louis, where police have arrested him for arson.

Williams has been portrayed in the media as an innocent victim fighting back against authority; he has been held up as the quintessential Ferguson protestor, decrying police brutality as he is time and again brutalized by police. When Williams interrupted a Ferguson City Council meeting in September and the meeting descended into chaos, for example, the New York Times published a photo of his disruptive antics with a caption that said that he had only “posed a question to the City Council.”

On the night after Christmas, St. Louis County Police arrested Williams on suspicion of arson in a separate incident. Williams was reportedly involved in the looting and burning of a QuikTrip convenience store on Christmas Eve in Berkeley, Mo., a St. Louis suburb approximately two miles away from Ferguson.

To the Progressive Left, acts of political violence are resume enhancers. Just ask Che Guevara, Professor Bill Ayers, Mumia Abu Jamal, and Kathy Boudin. Joshua Williams has a promising future as an MSDNC host, a tenured professor at a liberal university, or maybe even leverage his Community Organizer experience into a political career.

Leftists Fret That Cubans May Not Remain Poor and Oppressed

Posted by V the K at 8:31 am - December 23, 2014.
Filed under: Socialism in America

Whatever the merits of Obama’s opening to the hardcore Communist regime in Cuba, one curious side effect is the number of leftists who fear that economic ties to the USA might bring about prosperity and freedom to Castro’s Tropic Island Gulag.

National Post reporter Adrian Humphreys offered “advice to Canadian travelers: book your trip to Cuba now before it gets a McDonalds and Walmart in Havana.”

Sacramento Bee writer Marcos Breton warned “Cuba & it’s people…[to] beware [of] Pizza Hut, McDonalds, American Idol & Khardashians [sic].”

Adam Parker‏, a journalist at Charleston’s The Post and Courier, asked “How long do you think it will take for McDonald’s and Chick-fil-A to expand their empires?” And Fox News’s Shepard Smith instructed Cubans that “the last thing they need is a Taco Bell or a Lowe’s,” wondering if the United States is “about to get up in there and ruin that place.”

If these hipster pinkos really seem to believe that Wal-Marts and Taco Bells are worse than gulags and work camps, then there are a lot of other countries they should probably be living in. And they can take Khadija “I hate this f-ing country” Lynch with ‘em.

Cuba has long been a Socialist Disneyland to the American Left, who just wish they could butcher all of the middle class people who disagree with them, as did their hero, Che Guevara. The prospect that the poverty and oppression Che Guevara and the Castros have inflicted on their people might be relieved is insufferable to them.

News From the Frontlines of the Social Justice Wars

Social Justice, Inc,. presents the 2015 White Guilt calendar.

EJI is proud to announce the release of our 2015 calendar, A History of Racial Injustice. This full-color wall calendar expands on EJI’s previous calendars with new historical entries and short essays highlighting historical events and issues in our nation’s racial history.

The 2015 calendar is part of a series of reports and educational materials that explore (America’s) legacy of … slavery, racial terror, and legally supported abuse of racial minorities.

Then again, this calendar may not be for you guys, because some elements of the Racial Justice Movement have decided that Gays are the Oppresor.

We can no longer sit idly by as you, mainstream LGBT organizations, center your movements and advocacy work on some within our varied communities but not others. We are no longer OK with the mainstream LGBT organizations among you who signal your complicity in anti-Black violence through your loud silence and deliberate ignoring of the types of systemic, institutionalized forms of anti-Black racism that negatively impact Black queer and trans people (and all Black people), disallow Black well-being, and deaden us.

Imagine the dillema now faced by Chris Lemon, Michael Sam, and RuPaul.

A golden oldie

Posted by Jeff (ILoveCapitalism) at 2:58 pm - November 11, 2014.
Filed under: Humor,Socialism in America

A friend recently reminded me of this:

Marxists’ Apartment A Microcosm Of Why Marxism Doesn’t Work
Nov 13, 2002

AMHERST, MA—The filthy, disorganized apartment shared by three members of the Amherst College Marxist Society is a microcosm of why the social and economic utopia described in the writings of Karl Marx will never come to fruition, sources reported Monday. (more…)

And now for the bad news

It always feels good to see sanity prevail in an election, yes! And now for some honesty about what isn’t so good, in this election.

Unlike the Reagan wins of the 1980s, or the GOP’s 1994 “Contract with America” win, the 2014 GOP (as a national whole) neither provided nor sold to the voters a pro-freedom, government-cutting vision. The GOP skillfully profited from voter dissatisfaction with President Obama; and little more.

Racial guilt aside, the voters originally bought into Obama because he promised the Impossible Dream: a government which would be Big, but still somehow friendly and American (never mind that oppression is inherent to all Big Governments), and which would look out for them (never mind that socialism serves the elites, undermines the economy for ordinary people, and mathematically cannot provide benefits of much value to most people).

In this election six years later, the voters have repudiated Obama because he failed to deliver on the dream. He promised smooth, cool delivery of the dream. Instead, he gave a string of incompetent, messy disasters that even a corrupt media could not hide: such as the Gulf oil spill (BP’s actions had been approved by Obama regulators), Obamacare (with its expensive and oppressive mandates), Libya war, Benghazi, Syria war, ISIS, Ebola, and a moribund economy where the jobs are part-time, the taxes are higher, the U.S. national debt is doubled and only things that go up are the financial markets and the cost of living. The voters feel “lied to” and for that, they have now punished Obama.

In other words, the voters have not yet learned that the dream itself is impossible. The voters still want Friendly Fascism: a Big Government that somehow (1) works (or, in the famous saying, “makes the trains run on time”); while it (2) maintains a veneer of traditional American freedoms. It is impossible. But voters are hoping now that the GOP can help to correct Obama’s excesses and make the dream work.

The GOP, in this election in 2014, has done little to educate the voters on the dream’s utter impossibility – and thus, little to move America forward.

No Matter How Many Times Socialism Fails, Progressives Still Love It

Posted by V the K at 10:08 am - November 3, 2014.
Filed under: Socialism in America

Fifteen years after Hope and Change came to Venezuela – the country with largest proven oil reserves in the world – now has to import oil.

For the first time in its 100-year history of oil production, Venezuela is importing crude — a new embarrassment for the country with the world’s largest oil reserves.

The nation’s late president Hugo Chávez often boasted the South American country regained control of its oil industry after he seized joint ventures controlled by such companies as ExxonMobil and Conoco. But 19 months after Chávez’s death, the country can’t pump enough commercially viable oil out of the ground to meet domestic needs — a result of the former leader’s policies.

Socialism came to power in Venezuela by promising that they would take money away from some people and use it to buy stuff for their supporters; a value proposition that should seem quite familiar to American voters in the Obama Era.

The Socialists who ran the Government of Venezuela were certain that they knew better how to run the oil industry and the economy better than the free enterprise system; and the result would be a more fair and equal economy for everybody; a promise that should also be familiar to Americans living in the Obama Era.

And whenever the Socialist Government of Venezuela’s policies failed, they blamed big business and obstruction by the political opposition; which should also be very familiar to Americans in the Obama Era.

Government officials have tried to downplay the significance of Venezuela’s decision to import crude from Algeria and Russia. The company in a statement warned Venezuelans not to believe criticism by the opposition, repeating a constant government theme that setbacks are the result of an “economic war” being waged against the country, a campaign it says is aimed at toppling the regime.

It’s completely fair to say that Hugo Chavez fundamentally transformed Venezuela. And even though everyone except the party elite are now living in abject poverty; they are living in equivalent abject poverty.

U.S. President Barack Obama greets his Venezuela counterpart Hugo Chavez before the opening ceremony of the 5th Summit of the Americas

Comrades

Hillary Clinton’s Radical, Extremist Ideology

You have heard by now that, at a Democrat rally in Massachusetts, the woman Democrats wish to anoint as president in 2017 demonstrated her understanding of economics by saying this:

Don’t let anybody tell you it’s corporations and businesses create jobs.”

So, basically, any of you who have jobs in the private sector are technically unemployed according to the Democrats’ most favoritest politician. (The one who “misplaced” $6 Billion taxpayer dollars while running the Department of State, Oops.)

What you may not have heard is that statement is just one link in a rather long chain of HRC expressing her contempt for private enterprise and the free market, and supporting socialist collectivism. (Hat Tip: Oregon Muse)

1) “We’re going to take things away from you on behalf of the common good.” – Hillary Clinton 6/29/2004
2) “It’s time for a new beginning, for an end to government of the few, by the few, and for the few… And to replace it with shared responsibility, for shared prosperity.”- Hillary Clinton 5/29/2007
3) “(We)…..can’t just let business as usual go on, and that means something has to be taken away from some people.” – Hillary Clinton 6/4/2007
4) “We have to build a political consensus and that requires people to give up a little bit of their own … in order to create this common ground.” – Hillary Clinton 6/4/2007
5) “I certainly think the free-market has failed.” – Hillary Clinton 6/4/2007

In the age of Obama and Elizabeth Warren (the hard-left Democrat Senator who supports a $22-an-hour minimum wage and lied about being an American Indian so she could become an Affirmative Action hire at Harvard), the Democrat Party is gradually coming out of the closet as full-bore socialists. The State may not technically own all businesses, but given the heavy regulation and blatant targeting of companies like Gibson Guitars and regulatory attacks like Operation Choke Point against legal gun dealers … it’s become an increasingly semantic distinction. Call it ‘Regulatory Socialism.’

California – The Triumph of Progressive Politics

At one time, California was the most prosperous state in the county. But after just a couple of decades of progressive politics and illegal immigration, almost 1 out of every 4 Californians lives in poverty.

A report by the Census Bureau released Thursday shows that over 48 million Americans, around 16%, now live below the poverty line, but the number’s even worse for California, which when cost of living is factored in has a stunning 23.4% in poverty.

But on the plus side, gay marriage is legal, gay history is taught in public schools, and there are transgendered bathrooms for everyone!

The Left’s Abuse of Political Power Was Inevitable

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Ever since Barack Hussein Obama became president, there has been a notable acceleration in the use of State power to punish, harass, and wreak vengeance on those the left perceives as their enemies. Just a few examples:

Inevitably, when the left-wing comes to power, the first order of business is to punish their perceived enemies. That has been the case in every country in which any brand of Marxism has come into power. There was a naive assumption that the political system of the United States, with its body of laws and system of checks and balances, was immune to these types of abuses. Clearly, the last six years have shown that it is not.

Modern leftism is less a set of political beliefs than a militant pathology. If your political philosophy is based on the idea that those who disagree with you are evil, and/or greedy, and/or racist, and/or homophobic, and/or sexist, then, of course, they need to be punished, and of course, the reason your side was elected was to punish them. Obama himself admitted as much when he stated that the purpose of elections was “to punish our enemies and … reward our friends who stand with us on issues that are important to us.” And his administration and his party have done exactly that.

And the worst part is that if, somehow, the left’s greedy fingers are ever pried from the levers of state power, the Republicans will do nothing to reverse what has been done, will do nothing to undo what the Obama left has done. They may not abuse power so flagrantly as the left does, but they like having the power all the same.

The only way to keep the State from abusing power is to not let the State have that power in the first place.

Loch Ness Socialism

Posted by V the K at 12:25 pm - September 26, 2014.
Filed under: Socialism in America

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Democrat Blames Detroit’s Bankruptcy on Suburban White People

Posted by V the K at 7:28 pm - September 21, 2014.
Filed under: Socialism in America

Robert Reich was the Secretary of Labor under President B.J. Clinton, a candidate for Governor of Massachusetts, an executive at Goldman Sachs (which is pretty much a Democrat bribery mill), and currently draws a salary of almost a quarter mil for teaching a single class at UC-Berkeley.  He has also figured out why Detroit went bankrupt, and it has nothing to do with fifty years of corrupt Democrat politicians enacting precisely the progressive policies Reich advocates.

Detroit is really a model for how wealthier and whiter Americans escape the costs of public goods they would otherwise share with poorer and darker Americans.

Are Detroit, its public employees, poor residents and bondholders the only ones who should sacrifice when Detroit proper can’t pay its bills? Or does the relevant sphere of responsibility include Detroit’s affluent suburbs — to which many of the city’s wealthier resident fled as the city declined, along with the banks that serve them?

In other words, people who manage their communities efficiently and promote sound economic policies should subsidize the incompetence, corruption, and anti-business policies of people who don’t.

Obama Voters Demand That Other People Pay For Their Water

Posted by V the K at 7:42 am - July 22, 2014.
Filed under: Socialism in America

98% of the voters in Detroit voted for Obama, in some precincts, more than 100% of them voted for Obama. And now 80,000 of them have stopped paying their water bills, and are demanding that water be provided to them for free. Progressive Left Liz Warren supporters agree; Government should raise taxes on productive, responsible people to provide free water to unproductive, irresponsible people. And the NAACP has weighed in, saying, “These companies are basically Caucasian companies, the folks who are being cut off are almost one hundred percent African American.” So, basically, white people are obligated to provide free water to black people because racism.

There was a time in America when a situation like this would be met by churches, charities, and communities banding together to raise money to help people pay their bills. But that’s not how it works in Obama’s America. No, in Obama’s America, if you are too irresponsible to pay your bills, you join together with a bunch of other irresponsible selfish people and assert that you have a “right” to things you’re not willing to pay for and demand that the Government force other people to pay for them.

But, really, what else can you expect when the dominant philosophy of the Democrat Party is “Anything you want is a right and the Government should force people to provide it for you; birth control, cell phones, wifi access, student “loans,”EBT cards,  transgender surgery…” So, why not water.

(more…)

Watching Detroit Succumb to Entropy

Posted by V the K at 1:58 pm - May 30, 2014.
Filed under: Socialism in America

Follow-Up to Jeff’s Post, the website GooBing Detroit provides a fascinating document of the decay of America’s most liberal city (five decades of left-Democrat rule). By comparing streetviews from 2009 to 2013, you can see the city decay before your eyes.

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This is actually the most encouraging thing I have seen in some time. If the host is dying the parasites will have to leave in search of a more robust host. (I understand New York and California have VERY generous welfare systems.) As Detroit declines and the parasites leave, there is a chance for Michigan to become less progressive-socialist and more friendly to free markets and self-reliance.

Faster, please.

 

 

Detroit may spend $800 million to tear down homes

This goes to the essence of mainstream economic theory: Spend money to build houses, spend money to tear them down, spend money to build them, spend money to tear them down…and let it all be counted in the GDP numbers as “growth” and “jobs”:

One of the question haunting Detroit, as it works to extricate itself from bankruptcy, is how to address the reality of the city’s shrinking population…Today, a much-anticipated report from the city’s Blight Removal Task Force says that more than one in five structures is in some state of disrepair—and that about half of these should be torn down immediately…

It can take as little as three hours to demolish a house, but the process can be more consuming if properties contain asbestos or lead, thereby requiring extra care. Tearing down homes by the tens of thousands, which hasn’t been done before, could cost about $800 million, the report says. While the city has already obtained some blight-reduction funding from federal and state sources, it still needs at least a further $400 million. (That doesn’t include the additional $1 billion or so Detroit will need to address commercial and industrial eyesores.)

It’s astounding that, in a nation where homes are unaffordable for many people and the home ownership rate is declining, Detroit is still so unlivable and badly-run a place that they have vast numbers of homes to tear down.