See other Dead Constitution Articles
Title: Obama's Wealth Destruction
Source:
Lew Rockwell
URL Source: http://www.lewrockwell.com/rockwell/is-new-deal-2-inevitable.html
Published: Feb 10, 2009
Author: Lew Rockwell
Post Date: 2009-02-10 06:54:22 by Ada
Keywords: None
Views: 197
Comments: 14
President Obama is under the impression that history owes him $1 trillion right now to spend on whatever he wants. His language is strident and full of irritation that anyone would question his right to live out his personal dream of being Franklin Roosevelt to George Bush’s Hoover. This, he says, is what the election was all about. The arrogance reminds me of George Bush after 9-11, who similarly believed that history owed him a gargantuan war in the tradition of FDR. And look how that arrogance led to disgrace and loss, as he unwittingly presided over the destruction of American prosperity while searching for bugbears abroad. It just goes to show you that the presidency is something like a drug. It makes people lose all connection to reality. Part of the reality that Obama needs to recognize is that the New Deal was a calamity far worse than the initial market downturn that began it. He needs to stop basing his policies on dumbed-down civics texts versions of events and consider the economic logic. With his rhetoric and policies, he has decided to demonize private enterprise, just as FDR did, as a way to present government as the great savior. Now, think about this. If there is a way out of the recession, it will have to be provided by private enterprise. It will come by new businesses, business expansions, entrepreneurship, new technology, and this will be the source of lasting jobs and prosperity. You cannot make a country rich by looting taxpayers and paying people to pound nails into siding at public schools! These activities amount to capital consumption. They are not sources of investment. You can say that they are stupid tasks or wonderful tasks, but it is not a matter of ideology as to whether such public projects will make us all wealthier. They will not. They drain the sources of wealth from society. They represent a cost, not a blessing. That was also true of Bush’s dumb stimulus program. He was only bailing out his friends at our expense. The effect was to give a little longer life to institutions that were failing anyway. It’s pathetic that the Republicans ever went along with it. You will notice that the scheme didn’t actually work. Well, Obama is doing the same thing, though rewarding a different set of friends. This is not wealth production. This is wealth consumption. Do enough of this nonsense and you can destroy the livelihoods of an entire generation. Americans are proud of their system of government, but consider what it has given us this time around. We had an outgoing president who thought it was his right to grab as much as he could while leaving. Now we have a new president who thinks that the election entitled him to grab as much as he can, right from the beginning. We get looted by the state coming and going. It all amounts to one massive war on prosperity and freedom. Particularly culpable here are the official historians who have for generations heralded FDR as the great savior. It is a case study in how a civic lie can appear and fester for decades. The fact is that the New Deal did not work. It prolonged what might have been a troubling two-year downturn into a horrifying blow to world prosperity that ended up in a war that killed countless millions. It was one of the greatest acts of wreckage in world history. And Obama is inspired by this? He wants to repeat it? I’m not so cynical about human affairs that I believe that errors must be endlessly repeated. Obama can put a stop to his madness. He needs to know – someone must tell him frankly and openly – that his current path is going to lead not to recovery, but to an extension of suffering, and untold amounts of it. The biggest threat facing the American economy right now is rarely even discussed. It is the massive buildup of paper bank reserves in the last quarter of 2008. This was Bush’s doing. He ordered the Fed to print like mad. Fortunately for us, the banks are still holding on to these reserves. When they start lending again, the result could be hyperinflation of Confederate dollar proportions. Hence the priority of the Obama administration should be to first do no evil, and second to find some means for withdrawing those reserves from the banking system before they wash through the economic structure and destroy the dollar. There is still time. He must act. Yes, that will lead to bank failures. That’s good! It will lead to business failures. That’s good and essential too. There simply is no choice. If he acts now, he could find that recovery will come before his second term. This is precisely what happened with Reagan. He was fortunate to have advisers who insisted that he let the liquidation happen rather than attempt to fix the recession of 1981–82 with huge new government spending programs. In any case, the hardest work to do here is intellectual. Obama’s head is filled with myths and lies, not only about FDR and the New Deal, but also about the government’s power to repair the existing economic problems. With this model in his head, he can only do evil. This must change. Nothing is inevitable. He can turn on a dime. The main message: do not repeat the actions of FDR, lest you destroy what is left of American liberty and prosperity.
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: Ada, noone222, cynicom, psusa.rotara, all (#0)
Obama is a true ignorant dumbass. Law Enforcement Against Prohibition You think the people of this country exist to provide you with position. I think your position exists to provide those people with freedom.~~William Wallace ALAS, BABYLON
No fear. There's no room for it. It's our "leadership" that should be, and are, very scared. Very very scared.
Click for Privacy and Preparedness files Oratory is overrated. Just look at MLK.
Erectus Walks Amongst Us 4um Traitor $DJI $7,967.89 -302.98
4um Traitor Ninja edit ;-) I'm sure that Obummer is a plagiarist, it'll come out sooner or later.
_________________________________________________________________________ America R.I.P.
4um Traitor here's a better version and another of my faves. Glory to God in the highest, and Peace to His people on Earth. CNBC has been high comedy all day. This minute, some congressional beast named Maloney is trying to defend this clusterf**k of a bill. She was unable to answer one specific question directed to her. If this human POS is part of the solution, the end will be a total, and well deserved crash.
4um Traitor
He knows nothing of history and can only speak with prepared remarks.
He doesn't have a coherent or original idea in his head.
Everythink he says is fed to him and read from a teleprompter or prepared remarks.
It's obvious when he tries to speak extemporaneously because he sounds like a cliched stuffed suit and can't even manage that without tripping over himself.
He is a fake. HE IS WEAK of character. And we should all be very scared.
"Corporation: An entity created for the legal protection of its human parasites, whose sole purpose is profit and self-perpetuation." ~~ IndieTx
#2. To: IndieTX (#1)
And we should all be very scared.
#3. To: IndieTX (#1)
It's obvious when he tries to speak extemporaneously because he sounds like a cliched stuffed suit and can't even manage that without tripping over himself
What is painful about living in England is to see that everything that I like and admire was built by people who are now dead. It is now a kind of ghost world, inhabited by zombies with dyed hair, earrings and tattoos, and the factories and mills have long ago fallen silent, while the bridges rust and the masonry crumbles. -- Ragnar Redbeard
#4. To: IndieTX (#1)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#5. To: Rotara (#4)
#6. To: TwentyTwelve (#5)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#7. To: Prefrontal Vortex (#3)
(Edited)
Plagiarism is underrated. Just look at MLK.
"This man is Jesus,” shouted one man, spilling his Guinness as Barack Obama began his inaugural address. “When will he come to Kenya to save us?”
-Schweizerische Schuetzenzeitung (Swiss Shooting Federation) April, 1941
#8. To: Rotara (#6)
#9. To: TwentyTwelve (#8)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#10. To: Rotara (#9)
"I don't know where Bin Laden is. I truly am not that concerned about him"
George W, Bush, 3/13/02 http://www.whitehouse.gov/news/releases/2002/03/20020313-8.html
#11. To: Ada (#0)
#12. To: Artisan (#10)
Excellent !
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#13. To: Rotara (#12)
#14. To: Artisan (#10)
Top • Page Up • Full Thread • Page Down • Bottom/Latest