Downsize Federal Government — Eliminate The Department of Energy — Home Energy Score — Government Intervention Into The Private Sector — Videos

Posted on January 13, 2014. Filed under: American History, Banking, Blogroll, College, Communications, Constitution, Demographics, Economics, Education, Energy, Federal Government, Federal Government Budget, Fiscal Policy, history, Macroeconomics, Microeconomics, Monetary Policy, Money, Natural Gas, Nuclear Power, Oil, Philosophy, Photos, Politics, Press, Programming, Psychology, Raves, Regulations, Science, Talk Radio, Unemployment, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , |

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Our Ever Growing Dependence on Government

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism

Giving Away Money Costs More Than You Think

Downsizing the Federal Government

Downsize the Department of Energy

Can We Eliminate the Department of Education? (Charles Murray)

$5 Billion Loan for Solar Energy — Department of Energy

Phil Kerpen on Neil Cavuto to discuss the DOE loan program

Our Ever Growing Dependence on Government

Obamanomics: A Legacy of Wasteful Spending

Why Does Big Business Love Big Government? (Domhoff, Rothbard, and Evers)

G. William Domhoff is a research professor in psychology and sociology at the University of California, Santa Cruz. He is the author of Who Rules America? (1967), Bohemian Grove and Other Retreats: A Study in Ruling-Class Cohesiveness (1974), and other books.

A prolific author and Austrian economist, Murray Rothbard promoted a form of free market anarchism he called “anarcho-capitalism.”

Bill Evers was a resident scholar at Stanford University’s Hoover Institution (and is currently a research fellow there) and also served as Assistant Secretary for the Office of Planning, Evaluation and Policy Development in the U.S. Department of Education from 2007-09.

In this lecture Domhoff, Rothbard, and Evers talk about the “interlocking overlappers” that get together to influence the government, in California and in the country generally. They each spend some time describing what it is that draws businesspeople to market-capturing and rent-seeking behaviors, and take questions from the audience.

Walter Block – Free-Market Environmentalism [Australian Mises Seminar 2012]

How Murray Rothbard Became a Libertarian

The tide is rising for America’s libertarians

By Edward Luce

The new spirit in a rising climate of anti-politics has become an attitude, rather than a movement

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Robert Nozick, the late US libertarian, smoked pot while he was writing Anarchy, State and Utopia. He would applaud the growth of libertarianism among today’s young Americans. Whether it is their enthusiasm for legalised marijuana and gay marriage – both spreading across the US at remarkable speed – or their scepticism of government, US millennials no longer follow President Barack Obama’s cue. Most of America’s youth revile the Tea Party, particularly its south-dominated nativist core. But they are not big-government activists either. If there is a new spirit in America’s rising climate of anti-politics, it is libertarian.

On the face of it this ought to pose a bigger challenge to the Republican party – at least for its social conservative wing. Mr Obama may have disappointed America’s young, particularly the millions of graduates who have failed to find good jobs during his presidency. But he is no dinosaur. In contrast, Republicans such as Rick Santorum, the former presidential hopeful, who once likened gay sex to “man on dog”, elicit pure derision. Even moderate Republicans, such as Chris Christie, who until last week was the early frontrunner for the party’s 2016 nomination, are considered irrelevant. Whether Mr Christie was telling the truth last week, when he denied knowledge of his staff’s role in orchestrating a punitive local traffic jam, is beside the point. Mr Christie’s Sopranos brand of New Jersey politics is not tailored to the Apple generation.

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The opposite is true of Rand Paul, the Kentucky senator, whose chances of taking the 2016 prize rose with Mr Christie’s dented fortunes last week. Unlike Ron Paul, the senator’s father, who still managed to garner a large slice of the youth vote in 2008, Rand Paul eschews the more outlandish fringes of libertarian thought. Rather than promising an isolationist US withdrawal from the world, he touts a more moderate “non-interventionism”. Instead of pledging to end fiat money, he promises to audit the US Federal Reserve – “mend the Fed”, rather than “end the Fed”. Both find echo among the Y generation. So too does his alarmism about the US national debt. Far from being big spenders, millennials are more concerned about US debt than other generations, according to polls. They are also strongly in favour of free trade. More than a third of the Republican party now identifies as libertarian, according to the Cato Institute. Just under a quarter of Americans do so too, says Gallup.

All of which looks ominous for Ted Cruz, the Texan Republican whose lengthy filibuster against Obamacare last year lit the fuse for the US government shutdown. Mr Cruz, also a 2016 aspirant, leads the pugilistic wing of the Republican party that is prepared to burn the house down in order to save the ranch. Although also a Tea Partier, Mr Paul is cultivating a sunnier Reaganesque optimism that draws on the deep roots of US libertarianism. His brand of politics also strikes a chord with those who fear the growth of the US surveillance state – the types who view Edward Snowden (another millennial) as a hero rather than a traitor. Last year the US House of Representatives came within 12 votes of passing a bill to defund the National Security Agency. Mr Paul led the bill in the Senate. Next time they could succeed.

November 2012: While Obama lost ground among white male voters, his 2012 victory was the product of perhaps the most diverse electoral coalition in American history. Voters talk about how they interpret the president’s re-election

What does it mean for the Democrats? In terms of social values, libertarians are almost identical to liberals. Smoking pot and same-sex marriage both meet with big approval. The same is not necessarily true of guns. In spite of recent school massacres, 40 US states now have “concealed weapons” laws – many passed in the past 12 months. Again, millennials are surprisingly sceptical of gun control, say the polls. But it is on economic policy where they really part company with liberals. The Great Depression helped forge a generation of solid Democrats. The same does not appear to be true of the Great Recession. Franklin Roosevelt helped dig people out of misery in the 1930s by providing direct public employment. Mr Obama, on the other hand, has stuck largely to economic orthodoxy. He may have missed a golden opportunity to mould a generation of social democrats.

He has also inadvertently fuelled scepticism about the role of government. Mr Obama came to power in 2008 on a surge of voluntarism. He did so in part by appealing to youthful idealism about public service. That now feels like a long time ago. Distrust in public institutions has continued to rise during his presidency – most strongly among the youngest generation. The share of voters who identify as independents, rather than Democrats or Republicans, recently hit an all-time high of 42 per cent, according to Gallup. This is bad news for established figures in either party – and, indeed, in any walk of life. Hillary Clinton should beware. So should Jeb Bush.

On the minus side, libertarians have no real answer to many of America’s biggest problems – not least the challenges posed to US middle-class incomes by globalisation and technology. Nor are they coherent as a force. Libertarianism is an attitude, rather than an organisation. It is also potentially fickle. Young Americans disdain foreign entanglements. That could change overnight with a big terrorist attack on the homeland. They feel let down by Democrats and hostile to mainstream Republicans. Yet they could flock to an exciting new figure in either party. Theirs is a restless generation that disdains authority. Establishment figures should take note. Tomorrow belongs to them.

http://www.ft.com/cms/s/0/cc9a31b8-7928-11e3-b381-00144feabdc0.html#axzz2qJAO0w8t

DOE Plugs Energy Rating for Homes, Similar to MPG Rating for Cars

The Energy Department on Tuesday is rolling out new, improved software to help Americans measure the energy efficiency of their homes.

DOE says its energy-scoring software — called the Home Energy Scoring Tool – is like a vehicle’s mile-per-gallon rating because it allows homeowners to compare the energy performance of their homes to other homes nationwide. It also provides homeowners with suggestions for improving their homes’ efficiency.

The software is part of the government’s effort to reduce the nation’s energy consumption; but it’s also billed as a way to keep home-retrofitting going, at a time when stimulus funds for weather-proofing have run out.

The Home Energy Scoring Tool “can be a powerful motivator in getting homeowners to make energy efficiency improvements,” DOE says. “It’s also a great way to help trained workers enter the private sector energy improvement market as funding for weatherization efforts decline.”

DOE says its Home Energy Score is useful if you are a homeowner looking to renovate or remodel your home, lower your utility bills, improve the comfort of your home, or reduce your energy usage. Moreover, “the score serves as an official way to document these improvements and thereby enhance your home’s appeal when you’re ready to sell.”

Right now, getting your home scored is voluntary.

To produce a Home Energy Score, a trained, “qualified assessor” comes to your home — for a fee — and collects approximately 40 pieces of data about the home’s “envelope” (e.g., walls, windows, heating and cooling systems) during an hour-long walk-through.

Based on the home’s characteristics, the DOE software estimates the home’s annual energy use, assuming “typical homeowner behavior.” The software then converts the estimated energy use into a score, based on a 10-point scale (10 being the most energy-efficient). The 1-10 scale accounts for differences in weather conditions by using the zip code to assign the house to one of more than 1,000 weather stations.

In addition to showing the home’s current energy efficiency — or inefficiency — the score also shows where a home would rank if all of the energy-saving improvements identified during the home walk-through were made. That may prompt some homeowners to buy new windows or doors, for example, boosting the market for home retro-fitters.

DOE recommends getting a Home Energy Score “as soon as the program becomes available in your area.” The program launched in 2012, and at this time, only single-family homes and townhouses can be scored.

The scoring is available only through DOE’s participating partners, which include state and local governments, utilities, and non-profits. DOE does not determine how much an assessor charges to score a house. “It will depend on what the local market supports.” But DOE says its partners “have indicated plans to charge between $25 and $125 for the Home Energy Score.”

And yes, the size of the home matters because larger homes use more energy.

The Home Energy Score and the associated report is generated through DOE/Lawrence Berkeley National Laboratory software. The 2014 version of DOE’s Home Energy Scoring Tool will be introduced at a webinar on Tuesday.

So far,

home energy scoreThe Home Energy Score is similar to a vehicle’s mile-per-gallon rating, says the U.S. Energy Department. (Graphic is from DOE website)

DOE says more than 8,500 homes have been scored by the Energy Department’s growing network of more than 25 partners and 175 qualified assessors.

The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.

- See more at: http://www.cnsnews.com/news/article/susan-jones/doe-plugs-energy-rating-homes-similar-mpg-rating-cars#sthash.CQAafjhv.9gcKr0Ng.dpuf

http://www.cnsnews.com/news/article/susan-jones/doe-plugs-energy-rating-homes-similar-mpg-rating-cars

Home Energy Assessments

Cathy Zoi on the new Home Energy Score pilot program

Acting Under Secretary Cathy Zoi talks about the new Home Energy Score pilot program that was announced today by Vice President Biden and U.S. Department of Energy Secretary Steven Chu. The Home Energy Score will offer homeowners straightforward, reliable information about their homes’ energy efficiency. A report provides consumers with a home energy score between 1 and 10, and shows them how their home compares to others in their region. The report also includes customized, cost-effective recommendations that will help to reduce their energy costs and improve the comfort of their homes.

200,000 homes weatherized under the Recovery Act

Home Energy Score Pilot Program Launched By DOE

Home Energy Score Qualified Assessor module 1 intro

Home Energy Score Qualified Assessor module 2

Home Energy Score Qualified Assessor module 3

Home Energy Score Qualified Assessor module 4

Home Energy Score Qualified Assessor module 5

Home Energy Score Qualified Assessor module 6

Home Energy Score Qualified Assessor module 7

Home Energy Score Qualified Assessor module 8

Home Energy Score Qualified Assessor module 9

Home Energy Score Qualified Assessor module 10

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Individualism vs. Collectivism — Videos

Posted on December 21, 2013. Filed under: American History, Blogroll, Communications, Constitution, Economics, Education, Employment, Federal Government, government, government spending, history, Law, liberty, Life, Links, media, People, Philosophy, Photos, Politics, Rants, Raves, Video, Wealth, Wisdom | Tags: , , , , , , , |

individualism_collectivism

ClassicalLiberalism

Ayn Rand – Individualism

Cultural Dimension: me or we

Individualism Vs Collectivism

Individualism vs. Collectivism

Milton Friedman ~ The Escape From Collectivism

Milton Friedman-Collectivism

Hayek on Socialism

Friedrich Hayek: Why Intellectuals Drift Towards Socialism

Milton Friedman on Hayek’s “Road to Serfdom” 1994 Interview 1 of 2

Milton Friedman on Hayek’s “Road to Serfdom” 1994 Interview 2 of 2

Milton Friedman Discusses Collectivism vs Liberalism

G. Edward Griffin- On Individualism v Collectivism #1

G. Edward Griffin- On Individualism v Collectivism #2

G. Edward Griffin- On Individualism v Collectivism #3

G. Edward Griffin- On Individualism v Collectivism #4

G. Edward Griffin – The Collectivist Conspiracy

Ayn Rand: Racism VS. Individualism

Ayn Rand – In Defense of Capitalism

Yaron Brook – Objectivism Is Radical (and Applying It Can Be Hard)

Milton Friedman Interview with Gary Becker (2003)

In Depth with Milton Friedman w/ Q&A (2000)

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No Tapering! — Spending Addiction Disorder (SAD) — Fed Must Continue Massive Financing of Deficits and Debt of Federal Government — Digital Electronic Money (DEM) Creation Continues At $85 Billion Per Month or $1,020 Billion Per Year Pace — U.S. Economy Stagnating Below 3 Percent GDP Growth Trend Line — U.S. Dollar Devalued — Currency War Continues — Abolish The Fed Videos

Posted on September 19, 2013. Filed under: American History, Banking, Blogroll, College, Communications, Economics, Education, Employment, European History, Federal Government, Federal Government Budget, Fiscal Policy, government spending, history, History of Economic Thought, Inflation, Investments, IRS, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Photos, Politics, Programming, Psychology, Raves, Regulations, Resources, Security, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Video, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , |

5-reasons-the-fed-taper-will-kick-off-in-september

Tracking-the-Fed-September

U.S. National Debt Clock

BUREAU OF THE FISCAL SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
             TABLE 1.  SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  08/13

   PERIOD                                                                     RECEIPTS                OUTLAYS    DEFICIT/SURPLUS (-)
+  ____________________________________________________________  _____________________  _____________________  _____________________
   PRIOR YEAR

     OCTOBER                                                                   163,072                261,539                 98,466
     NOVEMBER                                                                  152,402                289,704                137,302
     DECEMBER                                                                  239,963                325,930                 85,967
     JANUARY                                                                   234,319                261,726                 27,407
     FEBRUARY                                                                  103,413                335,090                231,677
     MARCH                                                                     171,215                369,372                198,157
     APRIL                                                                     318,807                259,690                -59,117
     MAY                                                                       180,713                305,348                124,636
     JUNE                                                                      260,177                319,919                 59,741
     JULY                                                                      184,585                254,190                 69,604
     AUGUST                                                                    178,860                369,393                190,533
     SEPTEMBER                                                                 261,566                186,386                -75,180

       YEAR-TO-DATE                                                          2,449,093              3,538,286              1,089,193

   CURRENT YEAR

     OCTOBER                                                                   184,316                304,311                119,995
     NOVEMBER                                                                  161,730                333,841                172,112
     DECEMBER                                                                  269,508                270,699                  1,191
     JANUARY                                                                   272,225                269,342                 -2,883
     FEBRUARY                                                                  122,815                326,354                203,539
     MARCH                                                                     186,018                292,548                106,530
     APRIL                                                                     406,723                293,834               -112,889
     MAY                                                                       197,182                335,914                138,732
     JUNE                                                                      286,627                170,126               -116,501
     JULY                                                                      200,030                297,627                 97,597
     AUGUST                                                                    185,370                333,293                147,923

       YEAR-TO-DATE                                                          2,472,542              3,227,888                755,345


http://www.fms.treas.gov/mts/mts0813.txt

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InflationAug2013

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savings

fed_taper_bets

When-To-Taper

fed_taper

wrong_way

US Chairman of the Federal Reserve Ben Bernanke listens to questions as he testifies before a House Budget Committee on Capitol Hill in Washington

2013-09-17-bernanke-hands-over-control

janet_yellen

Tracking-the-Fed-September

Federal Reserve Vice Chair Janet Yellen addresses a conference in Washington

No Fed Taper: What Does It Mean for Your Money? (9/18/13)

Federal Reserve: No Taper (9/18/13)

Ron Paul: Fed Decision To Not Taper Is A Really Bad Sign

Ron Paul: Taper Fakeout Means Fed Is Worried

Breaking News: Federal Reserve Will Not Taper

Rick Santelli Reacts to Federal Reserve No Taper

Why The Fed. Will INCREASE, NOT DECREASE, It’s QE/Money Printing. By Gregory Mannarino

In Business – Fed Taper Pause Fuels Commodities Rally

To Taper, or Not to Taper

FED Says No Taper — We Need A War, Gun Confiscation And Control Of Internet First — Episode 166

JIM RICKARDS: Fed Will TAPER in September or Never, and the Looming MONETARY System COLLAPSE [50]

James Rickards on “Why The Fed Will NOT Taper Quantitative Easing”

Peter Schiff: “The party is coming to an end”.

JIM ROGERS – When the FED stops PRINTING FIAT CURRENCY the COLLAPSE will be here. PREPARE NOW

Fed decision Just idea of tapering caused huge ruckus

Background Articles and Videos

Milton Friedman – Abolish The Fed

Milton Friedman On John Maynard Keynes

Free to Choose Part 3: Anatomy of a Crisis (Featuring Milton Friedman)

Murray Rothbard – To Expand And Inflate

The Founding of the Federal Reserve | Murray N. Rothbard

The Origin of the Fed – Murray N. Rothbard

Murray Rothbard on Hyperinflation and Ending the Fed

Murray N. Rothbard on Milton Friedman (audio – removed noise) part 1/5

Keynes the Man: Hero or Villain? | Murray N. Rothbard

WASHINGTON (AP) — The Federal Reserve has decided against reducing its stimulus for the U.S. economy, saying it will continue to buy $85 billion a month in bonds because it thinks the economy still needs the support.

The Fed said in a statement Wednesday that it held off on tapering because it wants to see more conclusive evidence that the recovery will be sustained.

Stocks spiked after the Fed released the statement at the end of its two-day policy meeting.

In the statement, the Fed says that the economy is growing moderately and that some indicators of labor market conditions have shown improvement. But it noted that rising mortgage rates and government spending cuts are restraining growth.

The bond purchases are intended to keep long-term loan rates low to spur borrowing and spending.

The Fed also repeated that it plans to keep its key short-term interest rate near zero at least until unemployment falls to 6.5 percent, down from 7.3 percent last month. In the Fed’s most recent forecast, unemployment could reach that level as soon as late 2014.

Many thought the Fed would scale back its purchases. But interest rates have jumped since May, when Fed Chairman Ben Bernanke first said the Fed might slow its bond buys later this year. But Bernanke cautioned that the reduction would hinge on the economy showing continued improvement.

In its statement, the Fed says that the rise in interest rates “could slow the pace of improvement in the economy and labor market” if they are sustained.

The Fed also lowered its economic growth forecasts for this year and next year slightly, likely reflecting its concerns about interest rates.

The statement was approved on a 9-1 vote. Esther George, president of the Federal Reserve Bank of Kansas City, dissented for the sixth time this year. She repeated her concerns that the bond purchases could fuel the risk of inflation and financial instability.

The decision to maintain its stimulus follows reports of sluggish economic growth. Employers slowed hiring this summer, and consumers spent more cautiously.

Super-low rates are credited with helping fuel a housing comeback, support economic growth, drive stocks to record highs and restore the wealth of many Americans. But the average rate on the 30-year mortgage has jumped more than a full percentage point since May and was 4.57 percent last week — just below the two-year high.

The unemployment rate is now 7.3 percent, the lowest since 2008. Yet the rate has dropped in large part because many people have stopped looking for work and are no longer counted as unemployed — not because hiring has accelerated. Inflation is running below the Fed’s 2 percent target.

The Fed meeting took place at a time of uncertainty about who will succeed Bernanke when his term ends in January. On Sunday, Lawrence Summers, who was considered the leading candidate, withdrew from consideration.

Summers’ withdrawal followed growing resistance from critics. His exit has opened the door for his chief rival, Janet Yellen, the Fed’s vice chair. If chosen by President Barack Obama and confirmed by the Senate, Yellen would become the first woman to lead the Fed.

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Worse Post World War II Recession Followed By Worse U.S. Economic Recovery in 80 Years Since Great Depression of 1933 — Obama’s Economic Policy Mistakes Causing Increased Uncertaintly and Lower Economic Growth and Job Creation — Real GDP Gap Continues — No Real Economic Recovery! — Videos

Posted on July 23, 2013. Filed under: American History, Blogroll, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, Health Care, history, History of Economic Thought, Illegal, Immigration, Inflation, Investments, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Psychology, Raves, Regulations, Talk Radio, Tax Policy, Unemployment, Video, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , |

There Will Be No Economic Recovery. Prepare Yourself Accordingly.

The Economic Recovery: A Novel Perspective from Ed Leamer (The Numbers Game with Russ Roberts) mono

Published on Mar  7, 2013

Why has the current recovery from the Great Recession been so mediocre? Ed Leamer of UCLA points out that the last three recessions have all had mediocre recoveries of both output and employment. His explanation is that changes in the manufacturing sector have changed the pattern of layoffs, recalls and hiring during recessions and recoveries. The conversation concludes with a discussion of the forces driving the changes in the labor market and the implications for manufacturing.
1) Why the last three recessions all look different (1:44) 2) Employment growth for last eight recessions (4:12) 3) Why have the last three recessions been so different? (6:13) 4) The jobs cycle in manufacturing (8:52) 5) Excess capacity in construction has created a lag (10:33) 6) Manufacturing output versus manufacturing employment (11:14) 7) What’s the solution to the downturn? (12:20)
LINKS TO DATA REFERENCED — 1. Real GDP Growth From Peak to Peak Charts: FRED — “Real Gross Domestic Product, 3 Decimal (http://research.stlouisfed.org/fred2/…). Note: Calculated using (X1-X0)/(X0), where X0 — recession peak quarter
2. Manufacturing Employment Chart: FRED — “All Employees: Manufacturing”(http://research.stlouisfed.org/fred2/…)

The Numbers Game with Russ Roberts — The Economic Recovery (Part 1)

Published on Sep  5, 2012

According the National Bureau of Economic Research, the US economy recovered from the recession at the beginning of the summer of 2009. Yet the recovery has been disappointing when compared to other recoveries. In this episode of the Numbers Game, John Taylor of Stanford University talks with host Russ Roberts about the nature of the recovery. How does it compare historically to other recoveries? How can we measure the pace of the recovery? The conversation ends with a discussion of possible explanations for why the recovery has been disappointing. 1) What is potential GDP? (0:52) 2) The economy never catches back up to trend (2:38) 3) The 1981 recession (3:16) 4) Is there a correct or potential level of GDP? (4:45) 5) A look at past recoveries (6:13) 6) Friedman and the Plucking Model (8:10) 7) A look at real growth rates in recoveries (8:59) 8) Employment and the recovery (10:20) LINKS TO DATA & PAPERS REFERENCED – 1. 2008-09 and 1981-1982 Recession & Recovery Charts: Real GDP (GDPC1) downloaded from FRED 7/13/12, taken from BEA.gov – http://research.stlouisfed.org/fred2/… Potential GDP (GDPPOT) downloaded from FRED 7/13/12, taken from CBO.gov – http://research.stlouisfed.org/fred2/… 2. 1907-08 and 1893-94 Recession & Recovery Charts: GDP data from NBER, compiled by Nathan Balke and Robert Gordon with adjustments by John Taylor for comparability with earlier charts -http://www.nber.org/data/abc/ Potential GDP calculations by John Taylor using a Hodrick-Prescott trend. 3. The Plucking Model Working Paper: The “Plucking Model” of Business Fluctuations Revisited by Milton Friedman Working Papers in Economics, E-88-48 — Hoover Institution, Stanford University http://hoohila.stanford.edu/workingpa… 4. Growth Rate of Real GDP Chart: Growth Rate calculated from Real GDP (GDPC1) downloaded from FRED 7/13/12, taken from BEA.gov – http://research.stlouisfed.org/fred2/… 5. Change in the Percentage of the Population that is Working Chart: Employment-Population Ratio (EMRATIO) downloaded from FRED 7/13/12, taken from BLS.gov – http://research.stlouisfed.org/fred2/…

The Numbers Game with Russ Roberts — The Economic Recovery (Part 2)

By historical standards, the current recovery from the recession that began in 2007 has been disappointing. As John Taylor of Stanford University’s Hoover Institution and the Department of Economics argues in Part 1 of this discussion on the economy, GDP has not returned to trend, the percent of the population that is working is flat rather than rising, and growth rates are below their usual levels after such a deep slump.

In this episode, Taylor and Number’s Game host Russ Roberts discuss possible explanations for the sluggish recovery: the ongoing slump in construction employment, the effect of housing prices on saving and spending decisions by households, and this recovery’s having been preceded by a financial crisis. Taylor rejects these arguments, arguing instead that the sluggish recovery can be explained by poor economic policy decisions made by the Bush and the Obama administrations.

1) On the argument that there are structural problems in the labor market (0:25)
2) Comparisons to the 1981 recession (2:16)
3) Is this recession special because it followed a financial crisis? (2:46)
4) What can the Great Depression tell us? (3:55)
5) Why is the current recovery so mediocre? (5:32)

LINKS TO DATA & PAPERS REFERENCED -

1. Construction Sector Employment Chart:
Bureau of Labor Statistics- Series CES2000000001, Seasonally Adjusted

2. S&P/Case-Shiller Home Price Indices Chart:
S&P Dow Jones Indices and Fiserv 9-25-12 – http://www.standardandpoors.com

3. Personal Saving as a % of Disposable Income Chart:
BEA NIPA Table 2.1 line 36

4. 2008-09 and 1981-1982 Recession & Recovery Charts:
Real GDP (GDPC1) downloaded from FRED 7/13/12, taken from BEA.gov – http://research.stlouisfed.org/fred2/…
Potential GDP (GDPPOT) downloaded from FRED 7/13/12, taken from CBO.gov – http://research.stlouisfed.org/fred2/…

5. ‘Deep Recessions, Fast Recoveries, and Financial Crises: Evidence from the American Record’ by Michael D. Bordo and Joseph G. Haubrich – http://media.hoover.org/sites/default…

6. 1893-94 and 1907-08 Recession & Recovery Charts:
GDP data from NBER, compiled by Nathan Balke and Robert Gordon with adjustments by John Taylor for comparability with earlier charts – http://www.nber.org/data/abc/. Potential GDP calculations by John Taylor using a Hodrick-Prescott trend.

7. 1933-36 Great Depression & Recovery Chart:
GDP data from NBER, compiled originally by Nathan Balke and Robert Gordon – http://www.nber.org/data/abc/.

8. 1929-1940 Unemployment Rate (% of Labor Force) Chart:
Historical Statistics of the United States (Millennial Edition) – Table Ba470-477: Labor Force, Employment, and Unemployment, 1890-1990 – http://hsus.cambridge.org/HSUSWeb/toc…

9.  ‘An Empirical Analysis of the Revival of Fiscal Activism in the 2000s’ by John B. Taylor – http://www.stanford.edu/~johntayl/JEL…

The Numbers Game with Russ Roberts — The Economic Recovery (Part 3)

Here in part 3, Taylor argues that the slow pace of the recovery is due to poor policy decisions made by the Bush and Obama administrations that have increased the amount of uncertainty facing investors, consumers, and employers. Examples include the rising debt forecast, the fiscal cliff, expiring tax provisions, and quantitative easing. Taylor argues that the uncertainty surrounding these policies in the future along with increased regulation have held back the recovery.
LINKS TO DATA & PAPERS REFERENCED -
1. Debt as a Percentage of GDP Chart: Historical debt data – http://www.cbo.gov/publication/21728. Future debt projections -  http://www.cbo.gov/publication/20776 and http://www.cbo.gov/publication/43288
2. Number of Provisions Expiring in the US Tax Code Chart: List of Expiring Tax Provisions – Prepared by the Staff of the Joint Committee on Taxation, various issues – https://www.jct.gov/publications.html….
3. ‘Measuring Economic Policy Uncertainty’ by Scott Baker, Nicholas Bloom and Steven Davis: http://faculty.chicagobooth.edu/steve…
4. An Era of Deregulation (?) Chart: Federal Register Historical Statistics (https://www.federalregister.gov/learn…) Notes: Dates based on calendar year; Excludes preliminary/unrevised pages, blank/skipped pages, and proposed rules pages
5. Number of Federal Workers Employed in Regulatory Activities Chart: Susan Dudley & Melinda Warren “Fiscal Stalemate Reflected in Regulators’ Budget: An Analysis of the U.S. Budget for Fiscal Years 2011 and 2012,”  TSA adjustment obtained from DHS Budget in Brief. http://wc.wustl.edu/files/wc/2012_Reg… and http://www.dhs.gov/xlibrary/assets/mg….
6. ‘Dodd-Frank Progress Report’ by Davis Polk: According to Davis Polk (a firm monitoring Dodd-Frank progress) – “Dodd-Frank Progress Report, November 2012″ http://www.davispolk.com/files/Public…
7. Reserve Balances Chart: H.4.1 Federal Reserve statistical release (reserve balances with Federal Reserve Banks). One can also get data from FRED http://research.stlouisfed.org/fred2/…
8. ‘The 2009 Stimulus Package: Two Years Later’ by John B. Taylor: http://media.hoover.org/sites/default…
9. ‘An Empirical Analysis of the Revival of Fiscal Activism in the 2000s’ by John B. Taylor – http://www.stanford.edu/~johntayl/JEL…
10. Economic Benefits of the ’09 Stimulus Package Chart: Chicago Booth IGM Forum on the Economic Stimulus, 2/15/12 – http://www.igmchicago.org/igm-economi…. IGM Economic Experts Panel – http://www.igmchicago.org/igm-economic-experts-­panel
11. U.S. Misery Index Chart: Bureau of Labor Statistics – Unemployment Rate (http://www.bls.gov/webapps/legacy/cps… CPI-U (ftp://ftp.bls.gov/pub/special.requests/­cpi/cpiai.txt)

Economists Examine Potential for Longer Recession

Milton Friedman – Greed

Milton Friedman – Socialism is Force  

Milton Friedman – The role of government in a free society

Economics on One Foot

JobLossesJan2013

4employment_depth_max

6gdp_depth_max

Background on Recession/Recovery in Perspective

This page places the current economic downturn and recovery into historical (post-WWII) perspective. It compares output and employment changes from the 2007-2009 recession and subsequent recovery with the same data for the 10 previous recessions and recoveries that have occurred since 1946.

This page provides a current assessment of ‘how bad’ the 2007-2009 recession was relative to past recessions, and of how quickly the economy is recovering relative to past recoveries. It will continue to be updated as new data are released. This page does not provide forecasts, and the information should not be interpreted as such.

The  charts provide information about  the length and depth of recessions, and the robustness of recoveries.

Post-WWII Recessions

The Business Cycle Dating Committee of the National Bureau of Economic Research determines the beginning and ending dates of U.S. recessions. http://www.nber.org/cycles.html

        It has determined that the U.S. economy experienced 10 recessions from 1946 through 2006. The committee determined that the 2007-2009 recession began in December 2007 and ended in June of 2009.  Ending dates are typically announced several months after the recession officially ends. Read the June 2009 trough announcement by the NBER.

Length of Recessions

The 10 previous postwar recessions ranged in length from 6 months to 16 months, averaging about 10 1/2 months. The 2007-09 recession  was    the longest recession in the postwar period, at 18 months.

Depth of Recessions

The severity of a recession is determined in part by its length; perhaps even more important is the magnitude of the decline in economic activity. The 2007-09 recession was the deepest recession in the postwar period; at their lowest points employment fell by 6.3 percent and output fell by 5.1 percent.

http://www.minneapolisfed.org/publications_papers/studies/recession_perspective/

US-Real-GDP-Growth-Third-Estimate-for-Q1-2013

fredgraph

20_year_constant_maturity_rate

DGS30

For further information regarding treasury constant maturity data, please refer to:

http://www.federalreserve.gov/releases/h15/current/h15.pdf and http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/yieldmethod.aspx.

M1 Money Stock (M1)

2013-07-08:      2,504.2       Billions of Dollars                    Last 5 Observations

2013-07-01: 2,537.1
2013-06-24: 2,510.0
2013-06-17: 2,494.2
2013-06-10: 2,508.6

Weekly, Ending Monday, Seasonally Adjusted, Updated: 2013-07-19 6:26 AM CDT

M1_Max_630_378

Source: Board of Governors of the Federal Reserve System
Release: H.6 Money Stock Measures
Notes:      

M1 includes funds that are readily accessible for spending. M1 consists of: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) traveler’s checks of nonbank issuers; (3) demand deposits; and (4) other checkable deposits (OCDs), which consist primarily of negotiable order of withdrawal (NOW) accounts at depository institutions and credit union share draft accounts. Seasonally adjusted M1 is calculated by summing currency, traveler’s checks, demand deposits, and OCDs, each seasonally adjusted separately.

Velocity of M1 Money Stock (M1V)

2013:Q1:      6.474       Ratio                    Last 5 Observations

2012:Q4: 6.544
2012:Q3: 6.750
2012:Q2: 6.894
2012:Q1: 6.991

Quarterly, Seasonally Adjusted, Updated: 2013-06-26 9:01 AM CDT

M1V_Max_630_378

Source: Federal Reserve Bank of St. Louis
Release: Money Velocity
Notes:Calculated as the ratio of quarterly nominal GDP (http://research.stlouisfed.org/fred2/series/GDP) to the quarterly average of M1 money stock (http://research.stlouisfed.org/fred2/series/M1SL).
Velocity is a ratio of nominal GDP to a measure of the money supply.  It can be thought of as the rate of turnover in the money supply–that is, the number of times one dollar is used to purchase final goods and services included in GDP.

M2 Money Stock (M2)

2013-07-08:      10,644.6       Billions of Dollars                    Last 5 Observations

2013-07-01: 10,653.4
2013-06-24: 10,573.2
2013-06-17: 10,594.5
2013-06-10: 10,590.3

Weekly, Ending Monday, Seasonally Adjusted, Updated: 2013-07-19 6:26 AM CDT

M2

Source: Board of Governors of the Federal Reserve System
Release: H.6 Money Stock Measures

Notes:M2 includes a broader set of financial assets held principally by households. M2 consists of M1 plus: (1) savings deposits (which include money market deposit accounts, or MMDAs); (2) small-denomination time deposits (time deposits in amounts of less than $100,000); and (3) balances in retail money market mutual funds (MMMFs). Seasonally adjusted M2 is computed by summing savings deposits, small-denomination time deposits, and retail MMMFs, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.

Velocity of M2 Money Stock (M2V)

2013:Q1:      1.530       Ratio                    Last 5 Observations

2012:Q4: 1.538
2012:Q3: 1.568
2012:Q2: 1.579
2012:Q1: 1.588

Quarterly, Seasonally Adjusted, Updated: 2013-06-26 9:01 AM CDT

M2_Velocity

Notes:

Calculated as the ratio of quarterly nominal GDP (http://research.stlouisfed.org/fred2/series/GDP) to the quarterly average of M2 money stock (http://research.stlouisfed.org/fred2/series/M2SL).
Velocity is a ratio of nominal GDP to a measure of the money supply.  It can be thought of as the rate of turnover in the money supply–that is, the number of times one dollar is used to purchase final goods and services included in GDP.

US Economic Crisis, Predictions For 2013

So Goes Detroit,Bernanke’s Gold Confession, Obama’s ACA Lies

Karl Denninger on Bernanke’s Last Stand and Unwinding Rehypothecation [PRIME INTEREST 45]

Uncertainty over the cost of new regulations is suppressing business investment & job creation.

Chairman of the Joint Economic Committee, Representative Kevin Brady, presents his opening statement to the committee and witnesses during the JEC hearing “Reducing Unnecessary and Costly Red Tape through Smarter Regulations” on June 26, 2013.

“We’re experiencing the worst economic recovery since WWII.”

CBS: “This Is The Worst Economic Recovery America Has Ever Had”

Obama’s Great Economic Recovery WHERE?

Treasury Yield Curve Methodology
2/26/2009
Page Content

This description was revised and updated on February 26, 2009.

The Treasury’s yield curve is derived using a quasi-cubic hermite spline function. Our inputs are the Close of Business (COB) bid yields for the on-the-run securities. Because the on-the-run securities typically trade close to par, those securities are designated as the knot points in the quasi-cubic hermite spline algorithm and the resulting yield curve is considered a par curve. However, Treasury reserves the option to input additional bid yields if there is no on-the-run security available for a given maturity range that we deem necessary for deriving a good fit for the quasi-cubic hermite spline curve. For example, we are using composites of off-the-run bonds in the 20-year range reflecting market yields available in that time tranche. Previously, a rolled-down 10-year note with a remaining maturity nearest to 7 years was also used as an additional input. That input was discontinued on May 26, 2005.

More specifically, the current inputs are the most recently auctioned 4-, 13-, 26-, and 52-week bills, plus the most recently auctioned 2-, 3-, 5-, 7-, and 10-year notes and the most recently auctioned 30-year bond, plus the composite rate in the 20-year maturity range. The quotes for these securities are obtained at or near the 3:30 PM close each trading day. The inputs for the four bills are their bond equivalent yields.

Between August 6, 2004 and June 2, 2008, to reduce volatility in the 1-year Treasury Constant Maturity (CMT) rate, and due to the fact that there were no on-the-run issues between 6-months and 2-years, Treasury used an additional input to insure that the 1-year CMT rate was consistent with on-the-run yields on either side of it’s maturity range. Thus, Treasury interpolated between the secondary bond equivalent yield on the most recently auctioned 26-week bill and the secondary market yield on the most recently auctioned 2-year note and inputted the resulting yield as an additional knot point for the derivation of the daily Treasury Yield Curve. The result of that step was that the 1-year CMT was generally the same as the interpolated rate during that time period. As of June 3, 2008, the interpolated yield was dropped as a yield curve input and the on-the-run 52-week bill was added as an input knot point in the quasi-cubic hermite spline algorithm and resulting yield curve.

Between December 3, 2007 and November 7, 2008, due to Treasury’s discontinuance of 3-year notes, we added a composite rate in the 3-year range based on an average of off-the-run securities in that time tranche.  This composite was replaced on November 10, 2008 with the on-the-run 3-year note upon its reintroduction.

Treasury does not provide the computer formulation of our quasi-cubic hermite spline yield curve derivation program. However, we have found that most researchers have been able to reasonably match our results using alternative cubic spline formulas.

Treasury reviews its yield curve derivation methodology on a regular basis and reserves the right to modify, adjust or improve the methodology at its option. If Treasury determines that the methodology needs to be changed or updated, Treasury will revise the above description to reflect such changes.

Yield curve rates are usually available at Treasury’s interest rate web sites by 6:00 PM Eastern Time each trading day, but may be delayed due to system problems or other issues. Every attempt is made to make this data available as soon as possible.

Office of Debt Management Department of the Treasury

 FINANCIAL MANAGEMENT SERVICE
STAR – TREASURY FINANCIAL DATABASE
TABLE 1.  SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)

ACCOUNTING DATE:  06/13

PERIOD                                                                     RECEIPTS                OUTLAYS    DEFICIT/SURPLUS (-)
+  ____________________________________________________________  _____________________  _____________________  _____________________
PRIOR YEAR

OCTOBER                                                                   163,072                261,539                 98,466
NOVEMBER                                                                  152,402                289,704                137,302
DECEMBER                                                                  239,963                325,930                 85,967
JANUARY                                                                   234,319                261,726                 27,407
FEBRUARY                                                                  103,413                335,090                231,677
MARCH                                                                     171,215                369,372                198,157
APRIL                                                                     318,807                259,690                -59,117
MAY                                                                       180,713                305,348                124,636
JUNE                                                                      260,177                319,919                 59,741
JULY                                                                      184,585                254,190                 69,604
AUGUST                                                                    178,860                369,393                190,533
SEPTEMBER                                                                 261,566                186,386                -75,180

YEAR-TO-DATE                                                          2,449,093              3,538,286              1,089,193

CURRENT YEAR

OCTOBER                                                                   184,316                304,311                119,995
NOVEMBER                                                                  161,730                333,841                172,112
DECEMBER                                                                  269,508                270,699                  1,191
JANUARY                                                                   272,225                269,342                 -2,883
FEBRUARY                                                                  122,815                326,354                203,539
MARCH                                                                     186,018                292,548                106,530
APRIL                                                                     406,723                293,834               -112,889
MAY                                                                       197,182                335,914                138,732
JUNE                                                                      286,627                170,126               -116,501

YEAR-TO-DATE                                                          2,087,143              2,596,968                509,825

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Friedrich August von Hayek: The Road To Serfdom — Videos

Posted on April 10, 2013. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, European History, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, history, History of Economic Thought, Inflation, Language, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Raves, Tax Policy, Video, Wealth, Wisdom | Tags: , , , , , |

Cover_TheRoadToSerfdom

Friedrich August von Hayek – Profile / Biography (1/4)

The Intellectual Portrait Series: The Life and Thought of Friedrich A. Hayek (Indianapolis: Liberty Fund, 2003)

Friedrich August von Hayek – Profile / Biography (2/4)

Friedrich August von Hayek – Profile / Biography (3/4)

Friedrich August von Hayek – Profile / Biography (4/4)

The Life & Thought of Friedrich Hayek 

The Intellectual Portrait Series: The Life and Thought of Friedrich A. Hayek (Indianapolis: Liberty Fund, 2003)

The Road to Serfdom 

Hayek on The Road to Serfdom

Inside the Hayek Equation: An Interview with Friedrich von Hayek 

Hayek: Fighting the Planners part 1 of 4

Hayek: Fighting the Planners part 2 of 4

Hayek: Fighting the Planners part 3 of 4

Hayek: Fighting the Planners part 4 of 4

Milton Friedman on Hayek’s “Road to Serfdom” 1994 Interview 1 of 2

Milton Friedman on Hayek’s “Road to Serfdom” 1994 Interview 2 of 2

Hayek and Friedman: Head to Head | Roger W. Garrison

Glenn Beck -6/8/2010- The Road to Serfdom

Hayek, the Market Order and the Fatal Conceit 

Related Posts On Pronk Palisades

Friedrich Hayek–Videos

Friedrich A. Hayek–Interviews–Videos

Inside the Hayek Equation: An Interview with Friedrich von Hayek–Video

An Interview with Friedrich Hayek–Videos

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Santa Obama’s $9 Minimum Wage: Good Propaganda, Bad Economics–Videos

Posted on February 19, 2013. Filed under: American History, Blogroll, Business, College, Communications, Demographics, Diasters, Economics, Education, Employment, Federal Government, Fiscal Policy, government spending, history, History of Economic Thought, Inflation, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Narcissism, People, Philosophy, Politics, Psychology, Public Sector, Rants, Raves, Regulations, Resources, Talk Radio, Technology, Unemployment, Unions, Video | Tags: , , , , , , , , , , , , , |

Santa Obama’s $9 minimum wage: good propaganda, bad economics

By Raymond Thomas Pronk

Presidential economic policies like the proverbial “road to hell” are often paved with good intentions.

In his 2013 State of the Union address, President Barack Obama said:

“Even with the tax relief we’ve put in place, a family with two kids that earns the minimum wage still lives below the poverty line. That’s wrong. Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full time should have to live in poverty and raise the federal minimum wage to $9 an hour. This single step would raise the incomes of millions of working families. It could mean the difference between groceries or the food bank; rent or eviction; scraping by or finally getting ahead. For businesses across the country, it would mean customers with more money in their pockets.”

Why not increase the minimum wage to $18 per hour and win America’s war on poverty?

What are the economic consequences or impact of a $9 minimum wage on young high school and college students seeking employment? A decidedly negative impact if economic history is any guide.

The large increase in teenage unemployment is partly driven by the increase in the minimum wage. When the minimum wage rate was increased in July 2008 from $5.85 to $6.55 there was an upward spike in the teenage unemployment rate to greater than 20 percent. When the minimum wage was again increased in July 2009 from $6.55 to its current rate of $7.25, there was another upward spike in the teenage unemployment rate to greater than 25 percent. This rising trend of upward spikes in teenage unemployment rates after an increase in the minimum wage is reflected in the following chart.

Unemployment rate or percent of 16-19 years from 1948 to present

             unemployment_rate_1948_present_16_19-years_edited           

Source: Bureau of Labor Statistics, Department of Labor

David Neumark, professor of economics at the University of California, Irvine and William L. Wascher, deputy director in the Division of Research and Statistics at the Federal Reserve Board, in their book, “Minimum Wages,” provide a comprehensive review of the evidence on the economic effects of minimum wage laws. They concluded that such laws reduce employment opportunities for less-skilled workers, tend to reduce their earnings and are not very effective in reducing poverty.

If Congress passes an increase in the minimum wage to $9 as proposed by Obama, young, inexperienced, low-skill workers, especially blacks and Hispanics, will again be hurt for they will not be hired by businesses who cannot afford to pay them the higher mandated minimum wage. This will be reflected in yet another spike upward in the teenage unemployment rate that might exceed 30 percent.

Furthermore, young American citizens, especially blacks and Hispanics, will face stiff competition from the more than 11 million illegal aliens who predominantly seek low-skilled jobs. Obama and progressives in both the Democratic and Republican parties want to grant these illegal aliens immediate legal status to work in the U.S.

Obama is repeating the past economic policy mistakes of progressive presidents from both political parties such as Hoover, Roosevelt, Truman, Johnson, Nixon, Carter and the Bushes in mandating higher than free market wage rates. These well-intentioned but massive government interventionist economic policies lead to prolonged depressions and recessions with high unemployment rates, especially for young, inexperienced, low skilled and minority workers.

Thirty years ago the black economist, Walter E. Williams, explored the effects of federal and state government intervention into the economy, including minimum wage laws, in the PBS documentary, Good Intentions, based upon his 1982 book, “The State Against Blacks.” Those favoring a rise in the federal minimum wage would be well advised to view this video together with “Milton Friedman on the Minimum Wage” on YouTube before advocating an increase in the minimum wage.

For young American citizens an entry-level job paying a lower competitive market wage rate is preferable to no job at a higher government mandated minimum wage.

Good intentions are not enough. Results measured in jobs created count.

Raymond Thomas Pronk is host of the Pronk Pops Show on KDUX web radio from 3-5 p.m. Fridays and author of the companion blog http://www.pronkpops.wordpress.com/

Digital Age-Why is Coolidge the Forgotten President?-Amity Shlaes

Sumner’s Explanation of The Forgotten Man – Revised for the 21st Century

Sumner’s Explanation of The Forgotten Man – Revised for the 21st
Century

By Joshua Lyons 9/25/09

As soon as A observes something which seems to him to be wrong,  from which X is suffering, A talks it over  with B, and A and B then propose to get a law passed – with the praise of Y – to remedy  the evil and help X.

Their law always proposes to determine  what C shall do for X or, in the better case,  what A, B and C shall do for  X.

As for A and B, who get a  law to make themselves do for X what they are willing to do for  him, we have nothing to say except that they might better have done it without  any law, but C is forced to comply with the new law.

All this  is done while Y looks on with glee and proclaims that  A and B are so good for helping poor  X.

A is the  politician
B is the humanitarian, special interest, do-gooder, reformer, social speculator, etc.
C is The Forgotten Man (i.e. you, me, us)
X is the downtrodden, the oppressed, the little guy, the misunderstood, etc.
Y is the Mainstream Media

In other words…
As soon as THE POLITICIAN observes something which seems to him to be wrong, from which THE DOWNTRODDEN is suffering, THE POLITICIAN talks it over with THE HUMANITARIAN, and THE POLITICIAN and THE HUMANITARIAN then propose to get a law passed – with the praise of THE MAINSTREAM MEDIA – to remedy the evil and help THE DOWNTRODDEN.

Their law always proposes to determine what THE FORGOTTEN MAN shall do for THE DOWNTRODDEN or, in the
better case, what THE POLITICIAN, THE HUMANITARIAN and THE FORGOTTEN MAN shall do for THE DOWNTRODDEN.

As for THE POLITICIAN and THE HUMANITARIAN, who get a law to make themselves do for THE DOWNTRODDEN what they are willing to do for him, we have
nothing to say except that they might better have done it without any law, but THE FORGOTTEN MAN is forced to comply with the new law.

All this is done while THE MAINSTREAM MEDIA looks on with glee and proclaims that THE POLITICIAN and THE HUMANITARIAN are so good for helping poor THE DOWNTRODDEN.

The preceding commentary was based on William Graham Sumner’s explanation of The Forgotten Man.

http://forgottenmenblog.blogspot.com/2009/09/sumners-explanation-of-forgotten-man.html

MinimumWage

food-stamps-minimum-wage-graph-1970-2010-no-population

The Truth about the Minimum Wage

Obama: “Raise Minimum Wage to $9 an Hour” – SOTU 2013

More on Minimum Wage

Obama’s $9/Hour SOTU Minimum Wage 

 Milton Friedman on Minimum Wage

Power of the Market – Minimum Wage

Williams with Sowell – Minimum Wage

The Job-Killing Impact of Minimum Wage Laws

“Good Intentions” by Dr. Walter Williams

Dr. Walter Williams’ 1982 PBS documentary “Good Intentions” based on his book, “The State Against Blacks”. The documentary was very controversial at the time it was released and led to many animosities and even threats of murder.

In “Good Intentions”, Dr. Williams examines the failure of the war on poverty and the devastating effect of well meaning government policies on blacks asserting that the state harms people in the U.S. more than it helps them. He shows how government anti-poverty programs have often locked people into poverty making the points that:

- being forced to attend 3rd rate public schools leave students unprepared for working life
- minimum wages prevent young people from obtaining jobs at an early age
- licensing and labor laws have had the effect of restricting entrance of blacks into the skilled trades and unions
- the welfare system creates perverse incentives for the poor to make bad choices they otherwise would not

Dr. Williams presents the following solutions to these problems:

Failing Public Schools – Give parents greater control over their children’s education by setting up a tuition tax credit or voucher system to broaden competition in turn revitalizing both public and non-public schools

Minimum Wages – Remove the minimum wage from youngsters to give more young people the chance to learn the world of work at an early age instead spending their free time idle an possibly falling into the habits of the street

Restrictive Labor Laws, Jobs Programs – Eliminate government roadblocks that prevent new entrepreneurs from starting their own business

Welfare Programs – Enact a compassionate welfare system such as a negative income tax which would remove dependency and dis-incentives for the poor to get themselves out of poverty

Scholars interviewed in the documentary include Donald Eberle, Charles Murray, and George Gilder.

Good Intentions 1 of 3 Introduction and Public Schools with Walter Williams

Good Intentions 2 of 3 Minimum Wage, Licensing, and Labor Laws with Walter

Good Intentions 3 of 3 The Welfare System and Conclusions with Walter Williams 

Government Intervention and Individual Freedom | Walter Williams

Obama: “Time to Pass Immigration Reform” – State of the Union 2013 

Contrasting Views of the Great Depression | Robert P. Murphy

 

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

Uncommon Knowledge: The Great Depression with Amity Shlaes

Calvin Coolidge: The Best President You’ve Never Heard Of – Amity Shlaes

Amity Shlaes, Author, “Coolidge”

Keep Cool With Coolidge, Not Obama: Obama Reveals His True Hatred of Business

Obama Wants $9 Minimum Wage…

 

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Conflict of Visions–Obama v. Reagan–Videos

Posted on January 22, 2013. Filed under: American History, Blogroll, College, Communications, Cult, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, history, Investments, Law, liberty, Life, Links, Macroeconomics, media, People, Philosophy, Rants, Raves, Regulations, Religion, Strategy, Talk Radio, Tax Policy, Video, Wealth, Wisdom | Tags: , , , , , , , , |

Barack H. Obama

barack-obama-flag_close_up

Barack Obama 2013 Inauguration Speech

Inauguration 2013: Highlights From Obama’s Speech

Krauthammer: Obama Just Declared That The Era Of ‘Big Government Is Back’

Fox News Panel Reacts To Obama’s Inaugural Address: ‘Call To Arms For A Liberal

Fox Panel Discussion: Media Acting as Cheerleaders for Obama in Inaugural Coverage

Ronald Reagan

ronald_reagan_close_up

C-SPAN: President Reagan 1981 Inaugural Address

President Ronald Reagan – First Inaugural Address

Conflict of Visions

Which vision would you follow, Obama’s or Reagan’s?

Presidents of the United States in their Inaugural Addresses to the American people set forth their vision for the country.

In Thomas Sowell’s book, “The   Conflict of Visions,” there are two categories of visions, the unconstrained and the constrained. Those with an unconstrained vision believe in human reason and that important decisions should be made by the whole society and   government bureaucrats and experts. Those with a constrained vision believe in tradition and accumulated wisdom and decisions should be made by   individuals about what immediately concerns them such as their life and property.

President Barack H. Obama’s second Inaugural address illustrates the collectivist’s unconstrained vision while the late President Ronald Reagan first Inaugural address illustrates the   individualist’s constrained vision.

inaugural-swearing-in-obama

President Barack H. Obama’s second Inaugural, Jan. 21, 2013         Credit: http://www.latinopost.com

Obama’s unconstrained vision

Collective action

“But we have always understood that when times change, so must we; that fidelity to our founding principles requires new responses to new challenges; that preserving our individual freedoms ultimately requires collective action. For the American people can no more meet the demands of today’s world by acting alone than American soldiers could have met the forces of fascism or communism with muskets and militias. No single person can train all the math and science teachers we’ll need to equip our children for the future, or build the roads and networks and research labs that will bring new jobs and businesses to our shores. Now, more than ever, we must do these things together, as one nation, and one people.”

Crisis and a world without boundaries

“This generation of Americans has been tested by crises that steeled our resolve and proved our resilience. A decade of war is now ending. An economic recovery has begun. America’s possibilities are limitless, for we possess all the qualities that this world without boundaries demands: youth and drive; diversity and openness; an endless capacity for risk and a gift for reinvention. My fellow Americans, we are made for this moment, and we will seize it — so long as we seize it together.”

Constantly changing government, tax code, schools, and citizens

“We understand that outworn programs are inadequate to the needs of our time. We must harness new ideas and technology to remake our government, revamp our tax code, reform our schools and empower our citizens with the skills they need to work harder, learn more, and reach higher. But while the means will change, our purpose endures: a nation that rewards the effort and determination of every single American. That is what this moment requires. That is what will give real meaning to our creed.”

Our journey

“It is now our generation’s task to carry on what those pioneers began. For our journey is not complete until our wives, our mothers, and daughters can earn a living equal to their efforts. Our journey is not complete until our gay brothers and sisters are treated like anyone else under the law — for if we are truly created equal, then surely the love we commit to one another must be equal as well. Our journey is not complete until no citizen is forced to wait for hours to exercise the right to vote. Our journey is not complete until we find a better way to welcome the striving, hopeful immigrants who still see America as a land of opportunity; until bright young students and engineers are enlisted in our workforce rather than expelled from our country. Our journey is not complete until all our children, from the streets of Detroit to the hills of Appalachia to the quiet lanes of Newtown, know that they are cared for and cherished and always safe from harm.”

Reagan_1981

President Ronald Reagan’s first Inaugural, Jan. 20, 1981    Credit: http://www.inaugural.senate.gov

Reagan’s constrained vision

Government is the problem

“In this present crisis, government is not the solution to our problem; government is the problem. From time to time we’ve been tempted to believe that society has become too complex to be managed by self-rule, that government by an elite group is superior to government for, by, and of the people. Well, if no one among us is capable of governing himself, then who among us has the capacity to govern someone else? All of us together, in and out of government, must bear the burden. The solutions we seek must be equitable, with no one group singled out to pay a higher price.” 

Crisis and limits

“These United States are confronted with an economic affliction of great proportions. We suffer from the longest and one of the worst sustained inflations in our national history. It distorts our economic decisions, penalizes thrift and crushes the struggling young and the fixed-income elderly alike. It threatens to shatter the lives of millions of our people. ”

“You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we’re not bound by that same limitation? We must act today in order to preserve tomorrow. And let there be no misunderstanding: We are going to begin to act, beginning today. “

Unemployment, the tax system and deficit spending

“Idle industries have cast workers into unemployment, human misery, and personal indignity. Those who do work are denied a fair return for their labor by a tax system which penalizes successful achievement and keeps us from maintaining full productivity.”

“But great as our tax burden is, it has not kept pace with public spending. For decades we have piled deficit upon deficit, mortgaging our future and our children’s future for the temporary convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals.”

Administration’s objective

“Well, this administration’s objective will be a healthy, vigorous, growing economy that provides equal opportunities for all Americans, with no barriers born of bigotry or discrimination. Putting America back to work means putting all Americans back to work. Ending inflation means freeing all Americans from the terror of runaway living costs. All must share in the productive work of this ‘new beginning,’ and all must share in the bounty of a revived economy. With the idealism and fair play which are the core of our system and our strength, we can have a strong and prosperous America, at peace with itself and the world.”

Since my political philosophy is libertarianism, I naturally selected Reagan’s constrained vision.

The most famous vision for the future was given by Abraham Lincolns in his second Inaugural Address on March 4, 1865 when he said just weeks before his assassination on April 14 and as the Civil War was winding down:

“With malice toward none, with charity for all, with firmness in the right as God gives us to see the right, let us strive on to finish the work we are in, to bind up the nation’s wounds, to care for him who shall have borne the battle and for his widow and his orphan, to do all which may achieve and cherish a just and lasting peace among ourselves and with all nations.”

Raymond Thomas Pronk is host of the Pronk Pops Show on KDUX web radio from 3-5 p.m. Fridays and author of the companion blog http://www.pronkpops.wordpress.com/

Background Articles and Videos

G. Edward Griffin – The Collectivist Conspiracy

6 Collectivism & Individualism   G  Edward Griffin   FMNN eTV   Full Video

G. Edward Griffin- On Individualism v Collectivism #1

G. Edward Griffin- On Individualism v Collectivism #2

G. Edward Griffin- On Individualism v Collectivism #3

G. Edward Griffin- On Individualism v Collectivism #4

G. Edward Griffin: Individualism & Capitalism vs. Collectivism & Monopolies

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism

Thomas Sowell

Thomas Sowell and a Conflict of Visions

Thomas Sowell – Obama Going Forward

Thomas Sowell – Our Intellectual-In-Chief

Uncommon Knowledge with Thomas Sowell

Transcript And Audio: Barack Obama’s Second Inaugural Address

The remarks of President Obama, as released by The White House and prepared for delivery:

Vice President Biden, Mr. Chief Justice, Members of the United States Congress, distinguished guests, and fellow citizens:

Each time we gather to inaugurate a president, we bear witness to the enduring strength of our Constitution. We affirm the promise of our democracy. We recall that what binds this nation together is not the colors of our skin or the tenets of our faith or the origins of our names. What makes us exceptional — what makes us American — is our allegiance to an idea, articulated in a declaration made more than two centuries ago:

“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty, and the pursuit of Happiness.”

Today we continue a never-ending journey, to bridge the meaning of those words with the realities of our time. For history tells us that while these truths may be self-evident, they have never been self-executing; that while freedom is a gift from God, it must be secured by His people here on Earth. The patriots of 1776 did not fight to replace the tyranny of a king with the privileges of a few or the rule of a mob. They gave to us a Republic, a government of, and by, and for the people, entrusting each generation to keep safe our founding creed.

For more than two hundred years, we have.

Through blood drawn by lash and blood drawn by sword, we learned that no union founded on the principles of liberty and equality could survive half-slave and half-free. We made ourselves anew, and vowed to move forward together.

Together, we determined that a modern economy requires railroads and highways to speed travel and commerce; schools and colleges to train our workers.

Together, we discovered that a free market only thrives when there are rules to ensure competition and fair play.

Together, we resolved that a great nation must care for the vulnerable, and protect its people from life’s worst hazards and misfortune.

Through it all, we have never relinquished our skepticism of central authority, nor have we succumbed to the fiction that all society’s ills can be cured through government alone. Our celebration of initiative and enterprise; our insistence on hard work and personal responsibility, are constants in our character.

But we have always understood that when times change, so must we; that fidelity to our founding principles requires new responses to new challenges; that preserving our individual freedoms ultimately requires collective action. For the American people can no more meet the demands of today’s world by acting alone than American soldiers could have met the forces of fascism or communism with muskets and militias. No single person can train all the math and science teachers we’ll need to equip our children for the future, or build the roads and networks and research labs that will bring new jobs and businesses to our shores. Now, more than ever, we must do these things together, as one nation, and one people.

This generation of Americans has been tested by crises that steeled our resolve and proved our resilience. A decade of war is now ending. An economic recovery has begun. America’s possibilities are limitless, for we possess all the qualities that this world without boundaries demands: youth and drive; diversity and openness; an endless capacity for risk and a gift for reinvention. My fellow Americans, we are made for this moment, and we will seize it — so long as we seize it together.

For we, the people, understand that our country cannot succeed when a shrinking few do very well and a growing many barely make it. We believe that America’s prosperity must rest upon the broad shoulders of a rising middle class. We know that America thrives when every person can find independence and pride in their work; when the wages of honest labor liberate families from the brink of hardship. We are true to our creed when a little girl born into the bleakest poverty knows that she has the same chance to succeed as anybody else, because she is an American, she is free, and she is equal, not just in the eyes of God but also in our own.

We understand that outworn programs are inadequate to the needs of our time. We must harness new ideas and technology to remake our government, revamp our tax code, reform our schools, and empower our citizens with the skills they need to work harder, learn more, and reach higher. But while the means will change, our purpose endures: a nation that rewards the effort and determination of every single American. That is what this moment requires. That is what will give real meaning to our creed.

We, the people, still believe that every citizen deserves a basic measure of security and dignity. We must make the hard choices to reduce the cost of health care and the size of our deficit. But we reject the belief that America must choose between caring for the generation that built this country and investing in the generation that will build its future. For we remember the lessons of our past, when twilight years were spent in poverty, and parents of a child with a disability had nowhere to turn. We do not believe that in this country, freedom is reserved for the lucky, or happiness for the few. We recognize that no matter how responsibly we live our lives, any one of us, at any time, may face a job loss, or a sudden illness, or a home swept away in a terrible storm. The commitments we make to each other — through Medicare, and Medicaid, and Social Security — these things do not sap our initiative; they strengthen us. They do not make us a nation of takers; they free us to take the risks that make this country great.

We, the people, still believe that our obligations as Americans are not just to ourselves, but to all posterity. We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations. Some may still deny the overwhelming judgment of science, but none can avoid the devastating impact of raging fires, and crippling drought, and more powerful storms. The path towards sustainable energy sources will be long and sometimes difficult. But America cannot resist this transition; we must lead it. We cannot cede to other nations the technology that will power new jobs and new industries — we must claim its promise. That is how we will maintain our economic vitality and our national treasure — our forests and waterways; our croplands and snowcapped peaks. That is how we will preserve our planet, commanded to our care by God. That’s what will lend meaning to the creed our fathers once declared.

We, the people, still believe that enduring security and lasting peace do not require perpetual war. Our brave men and women in uniform, tempered by the flames of battle, are unmatched in skill and courage. Our citizens, seared by the memory of those we have lost, know too well the price that is paid for liberty. The knowledge of their sacrifice will keep us forever vigilant against those who would do us harm. But we are also heirs to those who won the peace and not just the war, who turned sworn enemies into the surest of friends, and we must carry those lessons into this time as well.

We will defend our people and uphold our values through strength of arms and rule of law. We will show the courage to try and resolve our differences with other nations peacefully — not because we are naïve about the dangers we face, but because engagement can more durably lift suspicion and fear. America will remain the anchor of strong alliances in every corner of the globe; and we will renew those institutions that extend our capacity to manage crisis abroad, for no one has a greater stake in a peaceful world than its most powerful nation. We will support democracy from Asia to Africa; from the Americas to the Middle East, because our interests and our conscience compel us to act on behalf of those who long for freedom. And we must be a source of hope to the poor, the sick, the marginalized, the victims of prejudice — not out of mere charity, but because peace in our time requires the constant advance of those principles that our common creed describes: tolerance and opportunity; human dignity and justice.

We, the people, declare today that the most evident of truths — that all of us are created equal — is the star that guides us still; just as it guided our forebears through Seneca Falls, and Selma, and Stonewall; just as it guided all those men and women, sung and unsung, who left footprints along this great Mall, to hear a preacher say that we cannot walk alone; to hear a King proclaim that our individual freedom is inextricably bound to the freedom of every soul on Earth.

It is now our generation’s task to carry on what those pioneers began. For our journey is not complete until our wives, our mothers, and daughters can earn a living equal to their efforts. Our journey is not complete until our gay brothers and sisters are treated like anyone else under the law — for if we are truly created equal, then surely the love we commit to one another must be equal as well. Our journey is not complete until no citizen is forced to wait for hours to exercise the right to vote. Our journey is not complete until we find a better way to welcome the striving, hopeful immigrants who still see America as a land of opportunity; until bright young students and engineers are enlisted in our workforce rather than expelled from our country. Our journey is not complete until all our children, from the streets of Detroit to the hills of Appalachia to the quiet lanes of Newtown, know that they are cared for, and cherished, and always safe from harm.

That is our generation’s task — to make these words, these rights, these values — of Life, and Liberty, and the Pursuit of Happiness — real for every American. Being true to our founding documents does not require us to agree on every contour of life; it does not mean we will all define liberty in exactly the same way, or follow the same precise path to happiness. Progress does not compel us to settle centuries-long debates about the role of government for all time — but it does require us to act in our time.

For now decisions are upon us, and we cannot afford delay. We cannot mistake absolutism for principle, or substitute spectacle for politics, or treat name-calling as reasoned debate. We must act, knowing that our work will be imperfect. We must act, knowing that today’s victories will be only partial, and that it will be up to those who stand here in four years, and forty years, and four hundred years hence to advance the timeless spirit once conferred to us in a spare Philadelphia hall.

My fellow Americans, the oath I have sworn before you today, like the one recited by others who serve in this Capitol, was an oath to God and country, not party or faction — and we must faithfully execute that pledge during the duration of our service. But the words I spoke today are not so different from the oath that is taken each time a soldier signs up for duty, or an immigrant realizes her dream. My oath is not so different from the pledge we all make to the flag that waves above and that fills our hearts with pride.

They are the words of citizens, and they represent our greatest hope.

You and I, as citizens, have the power to set this country’s course.

You and I, as citizens, have the obligation to shape the debates of our time — not only with the votes we cast, but with the voices we lift in defense of our most ancient values and enduring ideals.

Let each of us now embrace, with solemn duty and awesome joy, what is our lasting birthright. With common effort and common purpose, with passion and dedication, let us answer the call of history, and carry into an uncertain future that precious light of freedom.

Thank you, God Bless you, and may He forever bless these United States of America.

http://www.npr.org/2013/01/21/169903155/transcript-barack-obamas-second-inaugural-address

Ronald Reagan
naugural Address
January 20, 1981

Senator Hatfield, Mr. Chief Justice, Mr. President, Vice President Bush, Vice President Mondale, Senator Baker, Speaker O’Neill, Reverend Moomaw, and my fellow citizens:

To a few of us here today this is a solemn and most momentous occasion, and yet in the history of our nation it is a commonplace occurrence. The orderly transfer of authority as called for in the Constitution routinely takes place, as it has for almost two centuries, and few of us stop to think how unique we really are. In the eyes of many in the world, this every 4-year ceremony we accept as normal is nothing less than a miracle.

Mr. President, I want our fellow citizens to know how much you did to carry on this tradition. By your gracious cooperation in the transition process, you have shown a watching world that we are a united people pledged to maintaining a political system which guarantees individual liberty to a greater degree than any other, and I thank you and your people for all your help in maintaining the continuity which is the bulwark of our Republic.

The business of our nation goes forward. These United States are confronted with an economic affliction of great proportions. We suffer from the longest and one of the worst sustained inflations in our national history. It distorts our economic decisions, penalizes thrift, and crushes the struggling young and the fixed-income elderly alike. It threatens to shatter the lives of millions of our people.

Idle industries have cast workers into unemployment, human misery, and personal indignity. Those who do work are denied a fair return for their labor by a tax system which penalizes successful achievement and keeps us from maintaining full productivity.

But great as our tax burden is, it has not kept pace with public spending. For decades we have piled deficit upon deficit, mortgaging our future and our children’s future for the temporary convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals.

You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we’re not bound by that same limitation? We must act today in order to preserve tomorrow. And let there be no misunderstanding: We are going to begin to act, beginning today.

The economic ills we suffer have come upon us over several decades. They will not go away in days, weeks, or months, but they will go away. They will go away because we as Americans have the capacity now, as we’ve had in the past, to do whatever needs to be done to preserve this last and greatest bastion of freedom.

In this present crisis, government is not the solution to our problem; government is the problem. From time to time we’ve been tempted to believe that society has become too complex to be managed by self-rule, that government by an elite group is superior to government for, by, and of the people. Well, if no one among us is capable of governing himself, then who among us has the capacity to govern someone else? All of us together, in and out of government, must bear the burden. The solutions we seek must be equitable, with no one group singled out to pay a higher price.

We hear much of special interest groups. Well, our concern must be for a special interest group that has been too long neglected. It knows no sectional boundaries or ethnic and racial divisions, and it crosses political party lines. It is made up of men and women who raise our food, patrol our streets, man our mines and factories, teach our children, keep our homes, and heal us when we’re sick—professionals, industrialists, shopkeepers, clerks, cabbies, and truck drivers. They are, in short, “We the people,” this breed called Americans.

Well, this administration’s objective will be a healthy, vigorous, growing economy that provides equal opportunities for all Americans, with no barriers born of bigotry or discrimination. Putting America back to work means putting all Americans back to work. Ending inflation means freeing all Americans from the terror of runaway living costs. All must share in the productive work of this “new beginning,” and all must share in the bounty of a revived economy. With the idealism and fair play which are the core of our system and our strength, we can have a strong and prosperous America, at peace with itself and the world.

So, as we begin, let us take inventory. We are a nation that has a government—not the other way around. And this makes us special among the nations of the Earth. Our government has no power except that granted it by the people. It is time to check and reverse the growth of government, which shows signs of having grown beyond the consent of the governed.

It is my intention to curb the size and influence of the Federal establishment and to demand recognition of the distinction between the powers granted to the Federal Government and those reserved to the States or to the people. All of us need to be reminded that the Federal Government did not create the States; the States created the Federal Government.

Now, so there will be no misunderstanding, it’s not my intention to do away with government. It is rather to make it work–work with us, not over us; to stand by our side, not ride on our back. Government can and must provide opportunity, not smother it; foster productivity, not stifle it.

If we look to the answer as to why for so many years we achieved so much, prospered as no other people on Earth, it was because here in this land we unleashed the energy and individual genius of man to a greater extent than has ever been done before. Freedom and the dignity of the individual have been more available and assured here than in any other place on Earth. The price for this freedom at times has been high, but we have never been unwilling to pay that price.

It is no coincidence that our present troubles parallel and are proportionate to the intervention and intrusion in our lives that result from unnecessary and excessive growth of government. It is time for us to realize that we’re too great a nation to limit ourselves to small dreams. We’re not, as some would have us believe, doomed to an inevitable decline. I do not believe in a fate that will fall on us no matter what we do. I do believe in a fate that will fall on us if we do nothing. So, with all the creative energy at our command, let us begin an era of national renewal. Let us renew our determination, our courage, and our strength. And let us renew our faith and our hope.

We have every right to dream heroic dreams. Those who say that we’re in a time when there are not heroes, they just don’t know where to look. You can see heroes every day going in and out of factory gates. Others, a handful in number, produce enough food to feed all of us and then the world beyond. You meet heroes across a counter, and they’re on both sides of that counter. There are entrepreneurs with faith in themselves and faith in an idea who create new jobs, new wealth and opportunity. They’re individuals and families whose taxes support the government and whose voluntary gifts support church, charity, culture, art, and education. Their patriotism is quiet, but deep. Their values sustain our national life.

Now, I have used the words “they” and “their” in speaking of these heroes. I could say “you” and “your,” because I’m addressing the heroes of whom I speak—you, the citizens of this blessed land. Your dreams, your hopes, your goals are going to be the dreams, the hopes, and the goals of this administration, so help me God.

We shall reflect the compassion that is so much a part of your makeup. How can we love our country and not love our countrymen; and loving them, reach out a hand when they fall, heal them when they’re sick, and provide opportunity to make them self-sufficient so they will be equal in fact and not just in theory?

Can we solve the problems confronting us? Well, the answer is an unequivocal and emphatic “yes.” To paraphrase Winston Churchill, I did not take the oath I’ve just taken with the intention of presiding over the dissolution of the world’s strongest economy.

In the days ahead I will propose removing the roadblocks that have slowed our economy and reduced productivity. Steps will be taken aimed at restoring the balance between the various levels of government. Progress may be slow, measured in inches and feet, not miles, but we will progress. It is time to reawaken this industrial giant, to get government back within its means, and to lighten our punitive tax burden. And these will be our first priorities, and on these principles there will be no compromise.

On the eve of our struggle for independence a man who might have been one of the greatest among the Founding Fathers, Dr. Joseph Warren, president of the Massachusetts Congress, said to his fellow Americans, “Our country is in danger, but not to be despaired of . . . . On you depend the fortunes of America. You are to decide the important questions upon which rests the happiness and the liberty of millions yet unborn. Act worthy of yourselves.”

Well, I believe we, the Americans of today, are ready to act worthy of ourselves, ready to do what must be done to ensure happiness and liberty for ourselves, our children, and our children’s children. And as we renew ourselves here in our own land, we will be seen as having greater strength throughout the world. We will again be the exemplar of freedom and a beacon of hope for those who do not now have freedom.

To those neighbors and allies who share our freedom, we will strengthen our historic ties and assure them of our support and firm commitment. We will match loyalty with loyalty. We will strive for mutually beneficial relations. We will not use our friendship to impose on their sovereignty, for our own sovereignty is not for sale.

As for the enemies of freedom, those who are potential adversaries, they will be reminded that peace is the highest aspiration of the American people. We will negotiate for it, sacrifice for it; we will not surrender for it, now or ever.

Our forbearance should never be misunderstood. Our reluctance for conflict should not be misjudged as a failure of will. When action is required to preserve our national security, we will act. We will maintain sufficient strength to prevail if need be, knowing that if we do so we have the best chance of never having to use that strength.

Above all, we must realize that no arsenal or no weapon in the arsenals of the world is so formidable as the will and moral courage of free men and women. It is a weapon our adversaries in today’s world do not have. It is a weapon that we as Americans do have. Let that be understood by those who practice terrorism and prey upon their neighbors.

I’m told that tens of thousands of prayer meetings are being held on this day, and for that I’m deeply grateful. We are a nation under God, and I believe God intended for us to be free. It would be fitting and good, I think, if on each Inaugural Day in future years it should be declared a day of prayer.

This is the first time in our history that this ceremony has been held, as you’ve been told, on this West Front of the Capitol. Standing here, one faces a magnificent vista, opening up on this city’s special beauty and history. At the end of this open mall are those shrines to the giants on whose shoulders we stand.

Directly in front of me, the monument to a monumental man, George Washington, father of our country. A man of humility who came to greatness reluctantly. He led America out of revolutionary victory into infant nationhood. Off to one side, the stately memorial to Thomas Jefferson. The Declaration of Independence flames with his eloquence. And then, beyond the Reflecting Pool, the dignified columns of the Lincoln Memorial. Whoever would understand in his heart the meaning of America will find it in the life of Abraham Lincoln.

Beyond those monuments to heroism is the Potomac River, and on the far shore the sloping hills of Arlington National Cemetery, with its row upon row of simple white markers bearing crosses or Stars of David. They add up to only a tiny fraction of the price that has been paid for our freedom.

Each one of those markers is a monument to the kind of hero I spoke of earlier. Their lives ended in places called Belleau Wood, The Argonne, Omaha Beach, Salerno, and halfway around the world on Guadalcanal, Tarawa, Pork Chop Hill, the Chosin Reservoir, and in a hundred rice paddies and jungles of a place called Vietnam.

Under one such marker lies a young man, Martin Treptow, who left his job in a small town barbershop in 1917 to go to France with the famed Rainbow Division. There, on the western front, he was killed trying to carry a message between battalions under heavy artillery fire.

We’re told that on his body was found a diary. On the flyleaf under the heading, “My Pledge,” he had written these words: “America must win this war. Therefore I will work, I will save, I will sacrifice, I will endure, I will fight cheerfully and do my utmost, as if the issue of the whole struggle depended on me alone.”

The crisis we are facing today does not require of us the kind of sacrifice that Martin Treptow and so many thousands of others were called upon to make. It does require, however, our best effort and our willingness to believe in ourselves and to believe in our capacity to perform great deeds, to believe that together with God’s help we can and will resolve the problems which now confront us.

And after all, why shouldn’t we believe that? We are Americans.
God bless you, and thank you.


Note: The President spoke at 12 noon from a platform erected at the West Front of the Capitol. Immediately before the address, the oath of office was administered by Chief Justice Warren E. Burger.

In his opening remarks, the President referred to Rev. Donn D. Moomaw, senior pastor, Bel Air Presbyterian Church, Los Angeles, California.

The address was broadcast live on radio and television.

Obama’s Second Inaugural

By Yuval Levin
“…President Obama’s second inaugural address was an exceptionally coherent and deeply revealing speech. Its cogency was impressive: Recent inaugurals, and especially those of reelected presidents, have inclined toward the laundry list far more than this speech did. Obama made an argument, and one that holds together and advances a discernible worldview. It was in that sense a very successful speech, and while it may not be memorable in the sense of containing lines so eloquent or striking that they will always be associated with this moment and this president, it is a speech that will repay future re-reading because it lays out an important strand of American political thought rather clearly.But because it does so, it is also revealing of the shallowness, confusion, and error of that strand of American political thought — that is, of the progressive worldview in our politics.This speech was about as compact yet comprehensive an example of the contemporary progressive vision as we’re likely to get from a politician. It had all the usual elements. Its point of origin was a familiar distorted historical narrative of the founding — half of Jefferson and none of Madison — setting us off on a utopian “journey” in the course of which the founding vision is transformed into its opposite in response to changing circumstances, with life becoming choice, liberty becoming security, and the pursuit of happiness transmuted into a collective effort to guarantee that everyone has choice and security. The ideals of the Declaration of Independence are praised mostly for their flexibility in the face of their own anachronism, as their early embodiment in a political order (that is, the Constitution) proves inadequate to a changing world and must be gradually but thoroughly replaced by an open-ended commitment to meeting social objectives through state action.The only alternative to state action, in this vision of things, is the preposterously insufficient prospect of individual action. “For the American people can no more meet the demands of today’s world by acting alone than American soldiers could have met the forces of fascism or communism with muskets and militias,” the president said.

No single person can train all the math and science teachers we’ll need to equip our children for the future, or build the roads and networks and research labs that will bring new jobs and businesses to our shores. Now, more than ever, we must do these things together, as one nation, and one people.

The individual acting alone or the entire nation acting through its government, those are the only options we have. The space between the individual and the state is understood to be empty at best, and at worst to be filled with dreadful vestiges of intolerance and backwardness that must be cleared out to enable the pursuit of justice.

Our history is more or less a tale of an increasing public awareness of these facts. As we grew to understand that only common public action would suffice in an ever-changing world:

Together, we determined that a modern economy requires railroads and highways to speed travel and commerce; schools and colleges to train our workers.

Together, we discovered that a free market only thrives when there are rules to ensure competition and fair play.

Together, we resolved that a great nation must care for the vulnerable, and protect its people from life’s worst hazards and misfortune.

That modern economy and that free market are simply constants to be taken for granted — they will keep on humming, the only question is whether they will be placed under any restraints or direction. “Our celebration of initiative and enterprise, our insistence on hard work and personal responsibility, are constants in our character,” the president said, so we need not worry about how to sustain them but only about how to contain them.

And as we grew to understand the virtues of such common efforts of containment and direction of the modern economy, we also advanced the struggle against those vestiges of backwardness that have raised obstacles to inclusion, scoring victories for justice in “Seneca Falls, and Selma, and Stonewall.” Never mind the 50 million human beings deemed insignificant because they were unwanted and snuffed out over the last four decades in the cause of choice. Indeed, the freedom to remorselessly exterminate these innocents, rather than the struggle to protect the life and dignity of the weak who dared by their existence and their neediness to disrupt the plans of the strong, is somehow given a place of honor in the register of social progress.

Having been delivered along the arc of that progress to this point, we should have a pretty good idea of what we ought to do next: the same thing but more so. After all, the logic of the narrative carries its own direction — toward a series of utopian if sometimes nonetheless remarkably trivial near-term goals (“our journey is not complete until no citizen is forced to wait for hours to exercise the right to vote”) and a longer-term ideal of permanent universal political activism striving for an ever-more-perfect balance of moral individualism and economic collectivism.

As it is both moved by a hunger for justice and embodied in the American story (as its champions understand it), this course is taken to plainly occupy the moral high ground, and opposition to it can really only be explained by bad faith, bad motives, or bad reasoning. Thus, even as the advocates of this way of thinking style themselves pragmatists, they deem their opponents worse than wicked.

The president probably didn’t even quite see that his second inaugural was almost certainly the most partisan inaugural address in American history — more partisan than one delivered on the brink of civil war, or in the midst of it, or after the most poisonous and bitterly contested election in our history. He accused his political opponents of rabid (even stupid) radical individualism, of desiring to throw the elderly and the poor onto the street, of wanting to leave the parents of disabled children with no options, of believing that freedom should be reserved for the lucky and happiness for the few, and of putting dogma and party above country. Because it has exceedingly high expectations of politics, this view treats the failure to achieve its own goals as evidence of misconduct by others and of the inadequacy of the system we have. As White House communications director Dan Pfeiffer put it to the Washington Post this week, “There’s a moment of opportunity now that’s important. What’s frustrating is that we don’t have a political system or an opposition party worthy of the opportunity.”

The first thing to say about this vision is that it is a serious set of ideas and in some important respects an appealing one. It seeks to put American politics on a modern idealistic foundation rather than the modern skeptical foundation on which our constitutional order has put it, and it understands the liberal society as a set of utopian objectives grounded in a set of rational ideals. That’s certainly one way to understand the liberal society, and it is a way with deep roots in American thought. I’ve always thought that describing the progressive worldview as some kind of German implant undersells it and distorts it. It is surely that in part, but it is also the working out of a strain of American liberalism that has been with us from the beginning. The progressives claim to a connection to Jefferson is not unfounded. But it is incomplete and ill-informed.

The progressives used to know this. Herbert Croly understood that his claim to be applying to economic power the logic of the limits and restraints that Jefferson applied to political power was at least a little preposterous. He was not wrong to say that Jeffersonianism is in some tension with the Constitution — Jefferson surely thought so himself. But he was wrong to say that it pointed toward the sort of philosophical collectivism that the modern left is after. He was using a version of American history to make his case for change more palatable. But today’s progressives simply believe their own history and their own self-portrait. They really believe that the case for equality, for greater inclusion and civil rights, and for some protection from risk in the face of our tumultuous economy can only be grounded in the progressive worldview. Indeed, they take that view to be pragmatic common sense in light of a changing world, rather than a utopian ideology, and they therefore don’t grasp the radical inadequacy of the vision they’re espousing.

By espousing that vision more clearly than usual, the president’s speech revealed that inadequacy. It did so first and foremost by showing that (quite ironically, given how it praises itself for keeping up with change) progressivism today is highly anachronistic. As David Brooks astutely noted today:

The Progressive Era, New Deal and Great Society laws were enacted when America was still a young and growing nation. They were enacted in a nation that was vibrant, raw, underinstitutionalized and needed taming.

We are no longer that nation. We are now a mature nation with an aging population. Far from being underinstitutionalized, we are bogged down with a bloated political system, a tangled tax code, a byzantine legal code and a crushing debt.

In fact, in my opinion the lumbering and bogged-down character of our economy is the chief threat to the very economic security (not to mention prosperity) that the progressives say they are after. But Obama’s speech expressed no grasp of our current situation.

It is for that reason that he relied so heavily on straw men and absurd caricatures of his opponents’ positions. At one point, almost despite himself, the president stumbled upon the kind of thinking those opponents now actually offer, though he quickly picked himself up and continued to march in the opposite direction. In the middle of a case about how inequality calls for common action, he said:

We understand that outworn programs are inadequate to the needs of our time. We must harness new ideas and technology to remake our government, revamp our tax code, reform our schools, and empower our citizens with the skills they need to work harder, learn more, and reach higher. But while the means will change, our purpose endures: a nation that rewards the effort and determination of every single American. That is what this moment requires. That is what will give real meaning to our creed.

We, the people, still believe that every citizen deserves a basic measure of security and dignity. We must make the hard choices to reduce the cost of health care and the size of our deficit. But we reject the belief that America must choose between caring for the generation that built this country and investing in the generation that will build its future.

This is roughly the case for Paul Ryan’s budget. But the president opposes that approach, and in making this argument he pointed to some obvious objections to the rest of his speech without answering them. What programs are so inadequate that he is willing to see them reformed? Where is he willing to change the means to continue achieving the ends? What hard choices does he have in mind to reduce the deficit and the cost of health care? What does it mean to “reject the belief” that we are forced into a choice between the young and the old when we have massive government programs that compel exactly that choice and yet the president refuses to change them?

In fact, it is precisely the vision laid out in the rest of the president’s speech that has brought us to this difficult moment. Our foremost domestic challenges now almost all have to do with mitigating the enormous damage done to our economic dynamism, our social fabric, and our fiscal prospects by the public exertions most directly attributable to the sort of progressivism Obama laid out. This generation and the next one (at least) will spend their political energies trying to pick up the pieces of the Great Society and to construct alternatives to its foremost achievements that are better suited to the kind of country we are and want to be. And today’s progressives are very poorly suited to that task, because they do not see the problem, and they have a rather peculiar notion of the kind of country we are and want to be.

For conservatives to do better, it would be helpful to understand the left’s failings, and this speech is not a bad place to start. Look at the vision it lays out. It denies the relevance of our constitutional system, the value of civil society, the social achievement that is our culture of individual initiative and economic dynamism, the dignity of every life whether wanted by others or not, and the unsustainability of the liberal welfare state.

A coherent alternative would need to answer each of these errors and to put forward a political vision and program that champions the constitutional system and its underlying worldview, lifts up civil society as a key source of our strength, sustains the moral preconditions for democratic capitalism, protects every life, and transforms the institutions of the liberal welfare state into a robust safety net that guards the vulnerable and gives everyone a chance to benefit from and participate in our dynamic economy rather than shielding them from it. It is not hard to imagine such a combination of ideas because that combination, in its various forms, is what American conservatism stands for. It probably wouldn’t hurt to let the voting public know that. …”

http://www.nationalreview.com/corner/338366/obama-s-second-inaugural-yuval-levin#

Morning Bell: Obama’s Second Inaugural Address, Translated

Amy Payne

“…Members of Congress—who are about to debate raising the debt ceiling tomorrow—should have paid attention yesterday. The President was very clear that he sees no urgency about reducing the debt and cutting the deficit. In fact, in his second inaugural address, President Barack Obama was honest about his intentions to grow government in order to remake our country along his progressive vision.

To sell his agenda, the President borrowed imagery and terminology from America’s first principles. But he twisted the American founding idea of “We the people” into the liberal “It takes a village.”

His rhetoric on the issues only thinly disguised his true meaning. Let’s translate some of his key points.

Obama on “we the people”: “For the American people can no more meet the demands of today’s world by acting alone than American soldiers could have met the forces of fascism or communism with muskets and militias. No single person can train all the math and science teachers we’ll need to equip our children for the future. Or build the roads and networks and research labs that will bring new jobs and businesses to our shores.”

Translation: In case you didn’t hear me the first time, you didn’t build that.

He may have surrounded these words with lip service to the Constitution and America’s promise of freedom, but the President revisited his core message here: It takes a taxpayer-subsidized village to build things. According to his philosophy, entrepreneurs don’t create jobs—the government does.

Obama on the fiscal crisis: “We, the people, understand that our country cannot succeed when a shrinking few do very well and a growing many barely make it….We must make the hard choices to reduce the cost of health care and the size of our deficit. But we reject the belief that America must choose between caring for the generation that built this country and investing in the generation that will build its future.”

Translation: I will continue to push for more tax increases instead of reforming Medicare and Social Security.

On this point, the President followed up his promise that he will not negotiate on the debt ceiling by digging in his heels on taxes and entitlement programs. The “hard choices” he refers to on health care and the deficit are more tax increases—because he “reject[s] the belief” that entitlements must be reformed if they are going to stay around for the next generation.

The debt limit showdown continues this week: The House will vote tomorrow on a plan that would extend the debt ceiling for three months while forcing Congress—specifically, the Senate—to pass a budget. If they do not pass a budget by April 15 under this plan, Members of Congress would stop getting paid. If House Republicans so much as blink, the President and his allies will steamroll them.

Obama on green energy: “We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations. Some may still deny the overwhelming judgment of science, but none can avoid the devastating impact of raging fires, and crippling drought, and more powerful storms. The path towards sustainable energy sources will be long and sometimes difficult. But American cannot resist this transition.”

Translation: I will continue to increase regulations on the energy sources we use and throw taxpayer money into “green” energy companies.

Despite the ever-growing Green Graveyard of companies like Solyndra that took taxpayer money only to go bankrupt, the President clings to this unworkable and expensive policy. And his linking of climate change to “more powerful storms” points to a renewed push for policies like a carbon tax to punish people for using energy—a policy that would harm the economy and produce no tangible environmental benefits.

Obama on foreign policy: “We, the people, still believe that enduring security and lasting peace do not require perpetual war….We will show the courage to try and resolve our differences with other nations peacefully. Not because we are naive about the dangers we face, but because engagement can more durably lift suspicion and fear.”

Translation: The terrorists are on the run, and I still think we can negotiate with nuclear bullies like Iran.

Even as Obama pulls troops from Iraq and Afghanistan, the hostage crisis in Algeria shows that al-Qaeda is alive and well. Though Iran continues to rebuff international inspectors and basically do whatever it wants, Obama seems perpetually optimistic that more talks with this hostile regime—and others like it—could make them change their behavior.

The President said yesterday that “fidelity to our founding principles requires new responses to new challenges.” Though the plans he laid out are not new, they definitely require a response if we are to preserve the founding principles we cherish, including our individual right to life, liberty, and the pursuit of happiness.

Congress has been warned, and by the President no less, that he is in no mood to compromise. If they give in, a liberal agenda like we’ve never known before will be implemented, while needed reforms to our entitlement programs will not take place. Holding the line is more important now than ever. …”

http://blog.heritage.org/2013/01/22/obama-second-inaugural-address-translated/

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The Chicago Way–Obama Attack Ads Of Romney–Winning The Air War–The Chicago Way of Saul Alinsky–Video

Posted on July 17, 2012. Filed under: American History, Blogroll, Communications, Diasters, Economics, Fiscal Policy, Food, Foreign Policy, government, government spending, history, Investments, Law, liberty, Life, Links, media, People, Philosophy, Politics, Psychology, Public Sector, Rants, Raves, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , |

KNOW SAUL ALINSKY AND YOU KNOW BARACK OBAMA AND HIS REGIME

Studs Terkel Interviews Saul Alinsky

“Tactics are those conscious deliberate acts by which human beings live with each other and deal with the world around them. … Here our concern is with the tactic of taking; how the Have-Nots can take power away from the Haves.” p.126 Always remember the first rule of power tactics (pps.127-134):

1. “Power is not only what you have, but what the enemy thinks you have.”

2. “Never go outside the expertise of your people. When an action or tactic is outside the experience of the people, the result is confusion, fear and retreat…. [and] the collapse of communication.

3. “Whenever possible, go outside the expertise of the enemy. Look for ways to increase insecurity, anxiety and uncertainty. (This happens all the time. Watch how many organizations under attack are blind-sided by seemingly irrelevant arguments that they are then forced to address.)

4. “Make the enemy live up to its own book of rules. You can kill them with this, for they can no more obey their own rules than the Christian church can live up to Christianity.”

5. “Ridicule is man’s most potent weapon. It is almost impossible to counteract ridicule. Also it infuriates the opposition, which then reacts to your advantage.”

6. “A good tactic is one your people enjoy.”

7. “A tactic that drags on too long becomes a drag. Man can sustain militant interest in any issue for only a limited time….”

8. “Keep the pressure on, with different tactics and actions, and utilize all events of the period for your purpose.”

9. “The threat is usually more terrifying than the thing itself.”

10. “The major premise for tactics is the development of operations that will maintain a constant pressure upon the opposition. It is this unceasing pressure that results in the reactions from the opposition that are essential for the success of the campaign.”

11. “If you push a negative hard and deep enough, it will break through into its counterside… every positive has its negative.”

12. “The price of a successful attack is a constructive alternative.”

13. Pick the target, freeze it, personalize it, and polarize it.  In conflict tactics there are certain rules that [should be regarded] as universalities. One is that the opposition must be singled out as the target and ‘frozen.’…

“…any target can always say, ‘Why do you center on me when there are others to blame as well?’ When your ‘freeze the target,’ you disregard these [rational but distracting] arguments…. Then, as you zero in and freeze your target and carry out your attack, all the ‘others’ come out of the woodwork very soon. They become visible by their support of the target…’

     “One acts decisively only in the conviction that all the angels are on one side and all the devils on the other.” (pps.127-134)

Saul Alinksky, Rules for Radicals, Vintage Books, New York, 1989.

Rules for Radicals

By Saul Alinsky – 1971

http://www.crossroad.to/Quotes/communism/alinsky.htm

From Al Capone to Saul Alinsky to Barack Obama -Methods of Organizing

Saul Alinsky Takes the White House

Mark Levin – Oct 14th – Alinsky’s Rules for Radicals (Part 1 of 3)

Mark Levin – Oct 14th – Alinsky’s Rules for Radicals (Part 2 of 3)

MILTON FRIEDMAN-what alinsky never told obama…

Obama Ad Calls Romney ‘The Problem’ With Job Losses To China

Obama Criticizes Romney Jobs Record In New Ad

Obama for America TV Ad: “Makes You Wonder”

Why Would Mitt Romney Invest Millions in the Cayman Islands?

Unrelenting Obama Jabs at Romney’s Job Record

The Cloward/Piven Strategy 1

The Cloward/Piven Strategy 2

The Cloward/Piven Strategy 3

The End of America….The Cloward-Piven Strategy

Mitt Romney on US Immigration Policy: Why Won’t He Give a Straight Answer?

Mitt Romney Versus Reality: Global Edition

Our Warrior Andrew Breitbart: “Barack Obama is a Saul Alinsky Radical”

Mind blowing speech by Robert Welch in 1958 predicting Insiders plans to destroy America

Alex Jones interview with G Edward Griffin Collectivists Conspiracy

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Charles and David Koch and Murray N. Rothbard and Ludwig von Mises–Videos

Posted on May 1, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Energy, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, government, government spending, history, History of Economic Thought, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Resources, Tax Policy, Taxes, Technology, Unions, Video, War, Wisdom | Tags: , , , , , , , , , , , , , , , , |

Lew Rockwell and Tom Woods discuss Rothbard and the Koch Brothers

People & Power – The Koch Brothers

I am a classical liberal or libertarian.

I greatly admire the works of Ludwig von Mises, Friedrich A. Hayek, Murray Rothbard, Milton Friedman, The Von Mises Institute, Cato Institute, Reason and the Koch brothers.

Competition is what it is all about. This is a mistake the Kock borthers made in not encouraging instead of discouraging the formation of the Ludwig von Mises Institute and trying to marginalize Murray Rothbard. What is needed is many Cato Institutes and Ludwig von Mises Institutes spreading the word on the benefits of free market capitalism and limited government.

The Republican Party establishment, sad to say, is controlled by progressive neoconservatives, which is why many classical liberals or libertarians have left the Republican Party and are now independents.

Nixon, Ford, Bush, Dole, Bush, McCain, and Romney are all big government progressive Republicans. They may talk conservative, but walk as big government spenders. Limited government and fiscal responsibility are the last thing these big government progressive neoconservatives want. The Republican Party has became the party of war and the Democratic Party has become the party of welfare. The result is the warfare and welfare economy and state.

It is only a matter of time before a new political party will emerge that will reflect the views of libertarian conservatives, traditional conservatives, social/religious conservatives and national defense conservatives.

Both the Democratic and Republican party leaderships are so permeated with progressives or liberals that they are both lost causes.

Background Articles and Videos

Koch Family

“…The Koch family (play /ˈkoʊk/ KOHK) of industrialists and businessmen is most notable for their control of Koch Industries, the second largest privately owned company in the United States.[1] The family business was started by Fred C. Koch, who developed a new cracking method for the refinement of heavy oil into gasoline.[2][3] Fred’s four sons became involved in litigation against each other in the 1980s and 1990s.[4] According to the Koch Family Foundations and Philanthropy website, “the foundations and the individual giving of Koch family members” have financially supported organizations “fostering entrepreneurship, education, human services, at-risk youth, arts and culture, and medical research.” [5]

David H. Koch and Charles G. Koch—the two brothers still with Koch Industries—are affiliated with the Koch family foundations. Annual revenues for Koch Industries have been “estimated to be a hundred billion dollars.” [6]

Political activities

Main article: Political activities of the Koch family

David and Charles have funded conservative and libertarian policy and advocacy groups in the United States.[7] Since the 1980s the Koch foundations have given more than $100 million to such organizations, among these think tanks like the Heritage Foundation and the Cato Institute, as well as more recently Americans for Prosperity.[8] Americans for Prosperity and FreedomWorks are Koch-linked organizations that have been linked to the Tea Party movement.[9][10]

Family members

  • Fred C. Koch (1900–1967), American chemical engineer and entrepreneur who founded the oil refinery firm that later became Koch Industries
  • Mary Robinson Koch (October 17, 1907 – December 21, 1990),[11] wife of Fred C. and namesake of the company tanker vessel Mary R. Koch
  • Four sons of Fred C. and Mary Robinson Koch:[11]
    • Frederick R. Koch (born 1933), collector and philanthropist
    • Charles G. Koch (born 1935), Chairman of the Board and Chief Executive Officer of Koch Industries
    • David H. Koch (born 1940), Executive Vice President of Koch Industries
    • William Koch (born 1940), businessman, sailor, and collector

See also

  • David Koch Theatre
  • Charles Koch Arena
  • David H. Koch Institute for Integrative Cancer Research
  • The Science of Success, a book by Charles Koch in which he attributes the success of the family business to Market-Based Management
  • Koch Industries

References

  1. ^ “Forbes America’s Largest Private Companies”. Forbes.com. http://www.forbes.com/lists/2011/21/private-companies-11_land.html. Retrieved 10/4/11.
  2. ^ Koch, Charles C. (2007). The Science of Success: How Market-Based Management Built the World’s Largest Private Company. John Wiley & Sons, Inc.. p. 6. ISBN 978-0-470-13988-2.
  3. ^ “Koch Industries, Inc.”. Company Profile Report. Hoover’s, Inc.. 2010. http://www.hoovers.com/company/Koch_Industries_Inc/cftjki-1.html. Retrieved 10 May 2010. “[W]hen he tried to market his invention, the major oil companies sued him for patent infringement. Koch eventually won the lawsuits (after 15 years in court), but the controversy made it tough to attract many US customers.”
  4. ^ “Epic struggle among Koch brothers ends”. Houston Chronicle: p. 2. 26 May 2001.
  5. ^ http://kochfamilyfoundations.org/Foundations.asp
  6. ^ Mayer, Jane(August 10, 2010) http://www.newyorker.com/reporting/2010/08/30/100830fa_fact_mayer Covert Operations: The billionaire brothers who are waging a war against Obama The New Yorker
  7. ^ Zernike, Kate (October 19, 2010). “Secretive Republican Donors Are Planning Ahead”. New York Times. http://www.nytimes.com/2010/10/20/us/politics/20koch.htm.
  8. ^ Charles Koch, in interview with Stephen Moore of the Wall Street Journal. 6 May 2006. http://online.wsj.com/article/SB114687252956545543.html
  9. ^ Vogel, Kenneth P. (August 9, 2010), “Tea party’s growing money problem”, Politico, http://dyn.politico.com/members/forums/thread.cfm?catid=1&subcatid=70&threadid=4355176, retrieved 2011-06-14
  10. ^ Fenn, Peter (February 2, 2011), “Tea Party Funding Koch Brothers Emerge From Anonymity”, U.S. News & World Report, http://www.usnews.com/opinion/blogs/Peter-Fenn/2011/02/02/tea-party-funding-koch-brothers-emerge-from-anonymity, retrieved 2011-06-13
  11. ^ a b Fred and Mary Koch Foundation …”

http://en.wikipedia.org/wiki/Koch_family

Koch Industries

“…Koch Industries, Inc. (/ˈkoʊk/), is an American multinational conglomerate corporation based in Wichita, Kansas, United States, with subsidiaries involved in manufacturing, trading and investments. Koch also owns Invista, Georgia-Pacific, Flint Hills Resources, Koch Pipeline, Koch Fertilizer, Koch Minerals and Matador Cattle Company. Koch companies are involved in core industries such as the manufacturing, refining and distribution[1] of petroleum, chemicals, energy, fiber, intermediates and polymers, minerals, fertilizers, pulp and paper, chemical technology equipment, ranching,[3] finance, commodities trading, as well as other ventures and investments. The firm employs 50,000 people in the United States and another 20,000 in 59 other countries.[4]

In 2011, Forbes called it the second largest privately held company in the United States (after Cargill) with an annual revenue of about $98 billion,[5][6][7] down from the largest in 2006. If Koch Industries were a public company in 2007, it would rank about 16 in the Fortune 500.[8]

Fred C. Koch, for whom Koch Industries, Inc. is named, co-founded the company in 1940 and developed an innovative crude oil refining process.[9] His sons, Charles G. Koch, chairman of the board and chief executive officer, and David H. Koch, executive vice president, are principal owners of the company after they bought out their brothers, Frederick and William, for $1.1 billion in 1983.[10] Charles and David H. Koch each own 42% of Koch Industries, and Charles has stated that the company will publicly offer shares “literally over my dead body”.[5]

History

 Predecessor companies

In 1925, Fred C. Koch joined MIT classmate Lewis E. Winkler at an engineering firm in Wichita, Kansas, which was renamed the Winkler-Koch Engineering Company. In 1927 they developed a more efficient thermal cracking process for turning crude oil into gasoline. This process threatened the competitive advantage of established oil companies, which sued for patent infringement. Temporarily forced out of business in the United States, they turned to other markets, including the Soviet Union, where Winkler-Koch built 15 cracking units between 1929 and 1932. During this time, Koch came to despise communism and Joseph Stalin’s regime.[11][12] In his 1960 book, A Business Man Looks at Communism, Koch wrote that he found the USSR to be “a land of hunger, misery, and terror.”[13] According to Charles G. Koch, “Virtually every engineer he worked with [there] was purged.”[12]

In 1940, Koch joined new partners to create a new firm, the Wood River Oil and Refining Company, which is today known as Koch Industries. In 1946 the firm acquired the Rock Island refinery and crude oil gathering system near Duncan, Oklahoma. Wood River was later renamed the Rock Island Oil & Refining Company.[14] Charles G. Koch joined Rock Island in 1961, having started his career at the management consulting firm Arthur D. Little. He became president in 1966 and chairman at age 32, upon his father’s death the following year.[9][15]

Koch Industries

The company was renamed Koch Industries in honor of Fred Koch, the year after his death. At that time, it was primarily an engineering firm with part interest in a Minnesota refinery, a crude oil-gathering system in Oklahoma,[12] and some cattle ranches.[16] In 1968, Charles approached Union Oil of California about buying their interest in Great Northern Oil Company and its Pine Bend Refinery but the discussions quickly stalled after Union asked for a large premium.[11] In 1969, Union Oil began trying to market their interest in Great Northern by telling potential buyers that Koch’s controlling interest could be thwarted by currying favor with another owner, J. Howard Marshall II. When Marshall discovered this he threw his lot in with Koch, they together acquired a majority interest in the company and ultimately bought Union’s interest.[14] Ownership of Pine Bend refinery led to several new businesses and capabilities, including chemicals, fibers, polymers, asphalt and other commodities such as petroleum coke and sulfur. These were followed by global commodity trading, gas liquids processing, real estate, pulp and paper, risk management and finance.[11]

In 1970, Charles was joined at the family firm by his brother David H. Koch. Having started as a technical services manager, David became president of Koch Engineering in 1979.

Subsidiaries

Among Koch Industries’ subsidiaries across various industries[17] are:

Georgia-Pacific

Georgia-Pacific is a paper and pulp company that produces “Brawny” paper towels, “Angel Soft” toilet paper, “Mardi Gras” napkins and towels, “Quilted Northern” toilet paper and paper towels, “Dixie” paper plates, bowls, napkins and cups, “Sparkle” paper towels, and “Vanity Fair” paper napkins, bowls, plates and tablecloths. The Atlanta-based company has operations in 27 states.[18]

INVISTA

INVISTA is a polymer and fibers company that makes “Stainmaster” carpet, and “Lycra” fiber, among other products.

Koch Pipeline Company LP

Koch Pipeline Company LP, which owns and operates 4,000 miles (6,400 km) of pipeline used to transport oil, natural gas liquids and chemicals. Its pipelines are located across Wisconsin, Minnesota, Texas, Missouri, Iowa, Oklahoma, Louisiana, and Alberta, Canada. The firm operates offices in Wichita, Kansas, St. Paul, Minnesota and Corpus Christi, Texas.

In 1946 Wood River Oil Co. (a precursor company to Koch Industries) purchased Rock Island Oil and Refining Co. As a part of the transaction, it acquired a crude-oil pipeline in Oklahoma. As a result of construction and investments, Wood River acquired other pipelines in the U.S. and Canada. “In the ensuing years,” according to Koch Pipeline’s website, “the company bought, sold and built pipeline systems transporting crude oil and refined products, as well as natural gas, natural gas liquids and anhydrous ammonia (for fertilizer).”[19] Koch Pipeline and its affiliates currently maintain a 4,000-mile network of pipelines.

In January 2000, Koch Pipeline agreed to a $35 million settlement with the U.S. Justice Department and the State of Texas. This settlement, including a $30 million civil fine, represented compensation for three hundred oil spills in Texas and five other states dating back to 1990.[20][21][22]

Pipeline accident

Koch’s Sterling butane pipeline had a leak in Lively, Texas, on August 24, 1996. Two teenagers were killed when the gas exploded and burned. The National Transportation Safety Board concluded that severe external pipeline corrosion was the cause of the failure, and recommended to Koch to improve corrosion evaluation procedures.[23] Although Koch distributed pamphlets about safety around the pipelines, they failed to maintain an up-to-date mailing list. Only 5 out of 45 residences in the area of the accident had received pamphlets. The families of the dead had not.[24]

In 1999, a Texas jury found that negligence had led to the rupture of the Koch pipeline and awarded the victims’ families $296 million — “the largest compensatory damages judgment in a wrongful death case against a corporation in U.S. history”.[25]

In a statement released in 2010, Koch Industries offered this comment:

The August, 1996 pipeline accident in Texas was a tragedy. Koch accepted responsibility immediately for the incident, which is the only event of its kind in the company’s history. The thorough review conducted of this pipeline the year before the accident did not uncover any issues that posed a foreseeable threat to public safety. The bacteria-induced corrosion that caused the accident acted more quickly to damage this pipeline than had ever been documented by any industry expert. Koch’s cooperative efforts to identify the source and cause of this problem so that this knowledge could be shared throughout industry were praised by the National Transportation Safety Board, which did a two-year investigation into this incident.[26]

Flint Hill Resources LP

Flint Hill Resources LP, originally called Koch Petroleum Group, is a major refining and chemicals company based in Wichita, Kansas. It sells products such as gasoline, diesel, jet fuel, ethanol, polymers, intermediate chemicals, base oils and asphalt. It operates oil refineries in six states. Flint Hill has chemical plants in Illinois, Texas and Michigan. The firm is also a major manufacturer of asphalt used for paving and roofing applications. It operates 13 asphalt terminals located in six states including Alaska (2 terminals), Wisconsin (2), Iowa (3), Minnesota (4), Nebraska (1), and North Dakota(1).[27] The firm manages the purchasing of domestic crude oil from Texas and Colorado offices, has four ethanol plants across Iowa, operates three refineries in Alaska, Texas, and Minnesota, and has a refinery terminal in Alaska. The Minnesota refinery can process 320,000 barrels (51,000 m3) of crude a day, most of which comes from from Alberta, Canada, and handles one quarter of all Canadian oil sands crude entering the U.S.[28] It also operates fuel terminals in Wisconsin (4 locations), Texas (6), and one each in Iowa and Minnesota.[29]

In March 1999, Koch Petroleum Group acknowledged that it had negligently dumped hundreds of thousands of gallons of aviation fuel into wetlands from its refinery in Rosemount, Minnesota, and that it had illegally dumped a million gallons of high-ammonia wastewater onto the ground and into the Mississippi River. Koch Petroleum paid a $6 million fine and $2 million in remediation costs, and was ordered to serve three years of probation.[30]

In April 2001, the company reached a $20 million settlement in exchange for admitting to covering up environmental violations at its refinery in Corpus Christi, Texas.[31][32]

In June 2003, the US Commerce Department fined Flint Hill Resources a $200,000 civil penalty. The fine settled charges that the company exported crude petroleum from the US to Canada without proper US government authorization. The Commerce Department’s Bureau of Industry and Security said from July 1997 to March 1999, Koch Petroleum (later called Flint Hill Resources) committed 40 violations of Export Administration Regulations.[33]

In 2005, Koch’s Flint Hills Resources refinery was recognized by the Environmental Protection Agency’s Clean Air Awards program for reducing air emissions by 50 percent while expanding operations.[34] The EPA has worked with Flint Hills Resources to develop “strategies for curtailing so-called ‘upset’ emissions, in what agency and company sources say could lead to guidance to minimize such emissions from petroleum refineries and other industrial facilities.”[35] The EPA described the process as a “model for other companies.”[36]

In 2006, Flint Hill Resources was fined nearly $16,000 by the EPA for 10 separate violations of the Clean Air Act at its Alaska oil refinery facilities, and required to spend another $60,000 on safety equipment needed to help prevent future violations.[37]

Koch Fertilizer, LLC

Koch Fertilizer, LLC, which is one of the world’s largest makers of nitrogen fertilizers.[38] Koch Fertilizer owns or has interests in fertilizer plants the United States, Canada, Trinidad and Tobago, Venezuela, and Italy, among others.[39][40] Koch Fertilizer was formed in 1988 when the Koch companies purchased the Gulf Central Pipeline and ammonia terminals connected to the pipeline. The next year, the Koch Nitrogen Company was formed in order to market ammonia. The next few years saw purchases of various ammonia facilities in Louisiana, Canada, and elsewhere, and ammonia sales agreements with firms in Australia, the U.K., and other countries. The year 2010 saw the founding of Koch Methanol, LLC, and Koch Agronomic Services, LLC. In October 2010, a plant in Venezuela was nationalized by the government.[41] In 2011, the firm acquired the British fertilizer firm J&H Bunn Limited.

 Koch Agricultural Company

Koch Agricultural Company’s Matador Cattle Company division operates three ranches totaling 425,000 acres (1,720 km2) located in Beaverhead, Montana, Matador, Texas and the Flint Hills of eastern Kansas. There are more than 15,000 head of cattle raised on the ranches.[42]

The Matador Land and Cattle Company was founded in 1882 by Scottish investors, whose acquisition included 2.5 million acres in four Texas counties. In 1951, the company was sold to Lazard Freres and Company, which in turn sold some of the Texas land to Fred C. Koch. In 1952 Koch formed Matador Cattle Company, and later one of his companies purchased part of Matador Ranch, which was brought together with other Koch ranches in Montana and Kansas. Today, according to the ranch’s website, it “is owned and operated by Matador Cattle Company, a division of Koch Agriculture Company, which is an indirect, wholly-owned subsidiary of Koch Industries.”[43]

Koch’s Matador Ranch in Texas earned the Lone Star Land Steward award for outstanding natural resource management in 2010.[44] The Montana ranch has earned several environmental stewardship awards, including the EPA Regional Administrator’s award.[45]

Environmental and safety record

From 1999 to 2003, Koch Industries was assessed “more than $400 million in fines, penalties and judgments.”[25] Another source points out that Koch has had only “eight instances of alleged misconduct … over the span of 63 years” despite being a giant multinational, and that this compares favorably to the fines, penalties and judgments accrued by the similarly large General Electric corporation.[46]

Pollution and resource fines

In May 2001, Koch Industries paid $25 million to the federal government to settle a federal lawsuit that found the company had improperly taken more oil than it had paid for from federal and Indian land.[47]

In 2007, Koch Nitrogen’s plant in Enid, Oklahoma, was listed as the third highest company releasing toxic chemicals in Oklahoma, according to the EPA, ranking behind Perma-Fix Environmental Services in Tulsa and Weyerhaeuser Co. in Valliant.[48] The facility produces about 10% of the US national production of anhydrous ammonia, as well as urea and UAN.[49]

In 2010, Koch Industries was ranked 10th on the list of top US corporate air polluters, the “Toxic 100 Air Polluters”, by the Political Economic Research Institute at the University of Massachusetts Amherst.[50]

 Awards and certifications

Question book-new.svg
This section relies on references to primary sources or sources affiliated with the subject, rather than references from independent authors and third-party publications. Please add citations from reliable sources. (May 2011)

According to its website, Koch Industries and its subsidiaries received 289 stewardship awards over the two years ending January 2011.[51]

Koch Industries’ headquarters in Wichita has been certified for meeting the Energy Star standards for superior energy efficiency and environmental protection. As of 2010[update] it is the only Wichita office building to be so recognized.[52][53] A Tulsa, Oklahoma site of the Koch-owned John Zink Company site was part of the EPA’s National Environmental Performance Track program from 2003 until 2009 when the program was suspended.[54][55]

In 2011, the Midway-Kansas Chapter of the American Red Cross awarded Koch Industries with a Corporate Excellence Award for its long-standing commitment to the humanitarian mission of Red Cross.[56]

Legal activity

In 2008, Koch Industries discovered that the French affiliate Koch-Glitsch had violated bribery laws allegedly securing contracts in Algeria, Egypt, India, Morocco, Nigeria and Saudi Arabia after an investigation by Ethics Compliance officer, Egorova-Farines.[25] After Koch Industries’ investigative team looked into her findings, the four employees involved were terminated. A Bloomberg article states that Egorova-Farines’ reported her findings immediately, and even after Koch’s investigators substantiated the findings, her “superiors removed her from the inquiry in August 2008 and fired her in June 2009, calling her incompetent.”[25] Koch Industries’ general counsel, Mark Holden, gave a different account of the events to Jennifer Rubin of the Washington Post.[57] Holden stated that Egorova-Farines failed to promptly share the findings, choosing instead to give the information to a manager at Koch-Glitsch who was later fired for bribery. Rubin writes that, according to Holden, “Egorova-Farines was not fired but instead ran into performance problems, left the company to go on leave and never returned.” Egorova-Farines sued Koch-Glitsch for wrongful termination in France. Rubin writes that she lost and “was ordered to pay costs for bringing a frivolous case.”[57]

In May 2011, a Utah judge dismissed a Koch Industries lawsuit alleging that Youth For Climate Truth, in releasing a fake Koch Industries press release, had infringed on Koch Industries’ trademark.[58]

Political activity

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The neutrality of this section is disputed. Please see the discussion on the talk page. Please do not remove this message until the dispute is resolved. (March 2011)
This section may stray from the topic of the article into the topic of another article, Political activities of the Koch family. Please help improve this section or discuss this issue on the talk page. (November 2011)
See also: Political activities of the Koch family

Koch Industries has spent more than $50 million to lobby in Washington since 2006, according to the Center for Responsive Politics.[25]

The company has opposed the regulation of financial derivatives and limits on greenhouse gases.[25] It sponsors free market foundations and causes.[59] [60] According to the Center for Responsive Politics, many of Koch Industries’ contributions have gone toward achieving legislation on energy issues, defense appropriations and financial regulatory reform.[61] According to Greenpeace, the company has “had a quiet but dominant role in a high-profile national policy debate on global warming,” and has out-spent ExxonMobil (another corporation active in fighting climate change science and legislation) in giving money to organizations fighting legislation related to climate change. “From 2005 to 2008, ExxonMobil spent $8.9 million while the Koch Industries-controlled foundations contributed $24.9 million in funding.”[62][63] Another Greenpeace study states that between 1997 and 2008 Koch Industries donated nearly $48 million to groups which doubt or oppose the theory of anthropogenic global warming.[64][65] Koch Industries replied saying the Greenpeace report “distorts the environmental record of our companies.”[63][context?]

One policy proposal to control global warming that Koch Industries has come out against is Low Carbon Fuel Standards, such as were passed in 2007 in California.[28] According to Koch Industries, “LCFS would cripple refiners that rely on heavy crude feedstocks to provide the transportation fuels that keep America moving.”[66]

According to a critic of the Mercatus Center and the Kochs, the political activity by some of the Koch-supported foundations — such as Mercatus Center[67] — helps the company financially.[relevant to this paragraph? – discuss] According to Thomas McGarity, a law professor at the University of Texas who specializes in environmental issues, “Koch has been constantly in trouble with the United States Environmental Protection Agency (EPA), and Mercatus has constantly hammered” on the EPA.[63][relevant to this paragraph? – discuss] The founder of the Mercatus Center, Richard H. Fink, also heads Koch Industries’ lobbying operation in Washington DC.[63] According to a study by the progressive media watchdog Media Matters for America, Koch Industries (and other Koch brothers-owned companies) “have benefited from nearly a $100 million in government contracts since 2000.”[63][68]

Koch Industries have also been active in supporting and opposing politicians, including presidents. According to Jane Mayer, During the US 2000 election campaign, Koch Industries spent some $900,000 to support the candidacies of George W. Bush and other Republicans.[neutrality is disputed][63] It has funded opposition campaigns against programs of the Obama administration — “from health-care reform to the economic-stimulus”[63]. The Koch Industries website includes an opinion piece from the Wall Street Journal by Charles Koch, one of the company’s owners, “Why Koch Industries is Speaking Out”[69] The article states:

Because of our activism, we’ve been vilified by various groups. Despite this criticism, we’re determined to keep contributing and standing up for those politicians, like Wisconsin Gov. Scott Walker, who are taking these challenges [deficit spending by governments] seriously.

 See also

Portal icon Companies  portal
  • Koch family
  • Koch Family Foundations

References

  1. ^ a b c “Koch Industries Welcomes 2009 Leadership Kansas Class” (PDF). http://www.kochind.com/files/070709KIILeadershipKansas.pdf. Retrieved 2011-07-23.
  2. ^ “Forbes Magazine Profile for America’s Top 100 Private Companies”. Forbes.com. 3 November 2010. http://www.forbes.com/lists/2010/21/private-companies-10_Koch-Industries_VMZQ.html. Retrieved 2011-07-23.
  3. ^ “Koch Industries, Inc – Industry Areas”. Kochind.com. http://www.kochind.com/IndustryAreas/default.asp. Retrieved 2011-07-23.
  4. ^ Continetti, Matthew (April 4, 2011). “The Paranoid Style in Liberal Politics”. The Weekly Standard. http://www.weeklystandard.com/articles/paranoid-style-liberal-politics_555525.html?nopager=1.
  5. ^ a b Fisher, Daniel (Mar. 13, 2006). “Mr. Big”, pp. 24–26. Forbes. Online summary for calendar year 2005 at [1].
  6. ^ “America’s Largest Private Companies”. Forbes. 8 November 2007. http://www.forbes.com/lists/2007/21/biz_privates07_Americas-Largest-Private-Companies_Rank.html?boxes=custom. Retrieved 2011-07-23.
  7. ^ “Forbes rankings for 2009″. Forbes.com. 2009-10-28. http://www.forbes.com/2009/10/28/largest-private-companies-business-private-companies-09_land.html. Retrieved 2011-07-23.
  8. ^ “The Principled Entrepreneur”. The American. July–August 2007. http://www.american.com/archive/2007/july-august-magazine-contents/the-principled-entrepreneur. Retrieved 23 February 2010.
  9. ^ a b “Summary of Koch Industries History”. sec.gov. U.S. Securities and Exchange Commission. 14 November 2005. http://www.sec.gov/Archives/edgar/data/41077/000119312505225697/dex993.htm. Retrieved 18 February 2010.
  10. ^ The Top 10 Forbes Asia October 19, 2009
  11. ^ a b c Koch, Charles C. (2007). The Science of Success: How Market-Based Management Built the World’s Largest Private Company. John Wiley & Sons, Inc.. p. 6. ISBN 978-0-470-13988-2.
  12. ^ a b c Daniel Fisher (13 March 2006). “Mr. Big”. Forbes. http://www.forbes.com/global/2006/0313/024.html.
  13. ^ Koch, Fred C. (1960). A Business Man Looks at Communism. Wichita, Kansas.
  14. ^ a b J. Howard, Marshall II (1994). Done in Oil: An Autobiography. College Station: Texas A&M University Press. p. 254. ISBN 0-89096-533-1.
  15. ^ Bruce Upbin; Brandon Copple (14 December 1998). “Creative destruction 101″. Forbes.
  16. ^ John, Lincoln (1989). Rich Grass and Sweet Water. College Station: Texas A&M University Press. ISBN 0-89096-387-8.
  17. ^ Koch Industries website, Industry Areas, accessed Aug 25 2010,
  18. ^ Georgia Pacific website, accessed March 11, 2011, Georgia-Pacific Company Overview
  19. ^ “History”. Koch Pipeline Company, L.P.. http://www.kochpipeline.com/AboutUs/history.asp. Retrieved 12 April 2012.
  20. ^ “Koch Pipeline Company L.P. – Newsroom”. Kochpipeline.com. 2000-01-13. http://www.kochpipeline.com/news/printable.asp?id=270. Retrieved 2011-07-23.
  21. ^ By Ralph K.M. Haurwitz and Jeff Nesmith (2001-07-23). “Austin news, sports, weather, Longhorns, business”. Statesman.com. http://www.statesman.com/specialreports/content/specialreports/pipelines/23pipegathering.html. Retrieved 2011-07-23.
  22. ^ “Koch Agrees to $35 Million Settlement in Two Environmental Cases”. Safety Online. 17 January 2000. http://www.safetyonline.com/article.mvc/Koch-Agrees-to-35-million-Settlement-in-Two-E-0001?VNETCOOKIE=NO.
  23. ^ Pipeline Rupture, Liquid Butane Release, and Fire, Lively, Texas, August 24, 1996
  24. ^ “Austin news, sports, weather, Longhorns, business”. Statesman.com. http://www.statesman.com/specialreports/content/specialreports/pipelines/23pipelively3.html. Retrieved 2011-07-23.
  25. ^ a b c d e f Loder, Asjylyn; David Evans (3 October 2011). “Koch Brothers Flout Law With Secret Iran Sales”. Bloomberg Markets Magazine. http://www.bloomberg.com/news/2011-10-02/koch-brothers-flout-law-getting-richer-with-secret-iran-sales.html. Retrieved 5 October 2011.
  26. ^ “Koch Industries Responds to New Yorker Claims”. Newsmax Media. http://www.newsmax.com/InsideCover/koch-industries-new-yorker/2010/08/26/id/368519. Retrieved 23 April 2011.
  27. ^ Flint Hill Resources website, accessed March 11, 2011, FHR Asphalt
  28. ^ a b Dembicki, Geoff (March 22, 2011). “The Kochs: Oil Sands Billionaires Bankrolling US Right”. The Tyee (Vancouver, B.C.). http://thetyee.ca/News/2011/03/22/KochBrothers/index.html. Retrieved 2011-08-21.
  29. ^ Koch Industries website, accessed March 11, 2011, http://www.fhr.com/newsroom/contact.aspx?ID=9
  30. ^ “Koch Petroleum Group Sentenced for Minnesota Pollution” (Press release). Environmental Protection Agency. 9 March 2000. http://yosemite.epa.gov/opa/admpress.nsf/d0cf6618525a9efb85257359003fb69d/eae2020401d0bf098525689d00713ea5!OpenDocument. Retrieved 2010-06-14.
  31. ^ “Koch Pleads Guilty to Covering up Environmental Violations at Texas Oil Refinery”. justice.gov. U.S. Department of Justice. 9 April 2001. http://www.justice.gov/opa/pr/2001/April/153enrd.htm. Retrieved 30 May 2010.
  32. ^ Don Richards (22 January 2001). “DOJ Reduces Indictments Against Koch Industries”. ICIS. http://www.icis.com/Articles/2001/01/22/130888/doj-reduces-indictments-against-koch-industries.html.
  33. ^ US Dept of Commerce, Commerce Dept Fines Kansas Firm, June 3, 2003 press release, http://www.bis.doc.gov/news/2003/kansasfirmfined.htm
  34. ^ Jessica Harper (18 November 2009). “Flint Hills is coming out of murky waters”. Dakota County Tribune. http://www.thisweeklive.com/2009/11/18/flint-hills-is-coming-out-of-murky-waters/.
  35. ^ “Inside EPA’s Clean Air Report”. InsideEPA. http://docs.google.com/viewer?a=v&q=cache:7eiXKq7LLHkJ:www.flinthillsresources.info/upload/InsideEPA9-09Pactwithoil.pdf+Flint+Hills+Resources+epa&hl=en&gl=us&pid=bl&srcid=ADGEESjlfx6q_Ri64N7NdqA3rho-Amf6W1nzG7_PkmPqn7Z9eJiGxEsQN9ph1qqI7EjuAUdIwNaS1l1voou3gXceHm_zhgBmQidSNdEp44PfgvYdxXP_u1PTXKeTbv4SM4bGwfZZ_7S2&sig=AHIEtbQgO5KZzY5H1tGz7XGieXnNJakdqQ. Retrieved 23 April 2011.
  36. ^ “Flint Hills Resources, LP Agrees to Transition Its Texas Flexible Permits to Federally Approved Clean Air Act Permits – Transition affects facilities in Corpus Christi, Port Arthur and Longview”. EPA. http://yosemite.epa.gov/opa/admpress.nsf/0/6F25BD791C4B21CB852577C400552339. Retrieved 27 April 2011.
  37. ^ EPA Press Release, EPA Fines Flint Hill Resources Alaska, Dec 13 2006, accessed Aug 25 2010, http://yosemite.epa.gov/opa/admpress.nsf/b0789fb70f8ff03285257029006e3880/6b191200b3ce87e2852572430062f987!OpenDocument
  38. ^ Koch Fertilizer website, accessed March 11, 2011, http://www.kochfertilizer.com/
  39. ^ Yasha Levine (1 September 2010). “7 Ways the Koch Bros. Benefit from Corporate Welfare”. The New York Observer. http://www.observer.com/2010/daily-transom/how-libertarian-koch-bros-benefit-corporate-welfare.
  40. ^ “Fertilizers”. http://www.kochind.com/IndustryAreas/fertilizers.aspx.
  41. ^ “Koch Industries says no word on Venezuela takeover”. Reuters. 11 October 2010. http://www.reuters.com/article/idUSN1112262420101011.
  42. ^ Koch Industries website, accessed March 11, 2011, Ranching
  43. ^ “The History of Matador Ranch”. Matador Ranch. http://www.matadorranch.com/matadorranchhistory.php. Retrieved 12 April 2012.
  44. ^ “Lone Star Land Steward Awards Winners Announced” (Press release). Texas Parks & Wildlife. 6 May 2010. http://archive.tpwd.state.tx.us/newsmedia/releases/text.phtml?req=20100506. Retrieved 2010-06-14.
  45. ^ “EPA Honors Koch Ranch for Environmental Excellence; Award is Ranch’s Fourth Major Environmental Honor in 1999″ (Press release). Koch Industries. 7 June 1999. http://findarticles.com/p/articles/mi_m0EIN/is_1999_June_7/ai_54811290/. Retrieved 2010-06-14.
  46. ^ Bloomberg’s Exposé on Koch Industries Reveals … What Exactly? Daniel Indiviglio| 4 October 2011
  47. ^ Russell Ray (20 June 2001). “Tribe Likely to Get Piece of Settlement in Osage County, Okla., Oil Squabble”. Tulsa World.
  48. ^ “EPA Reports Toxic Releases to Air, Water and Land in Oklahoma in 2007″. Environmental Protection Agency. 2009-03-19. http://yosemite.epa.gov/opa/admpress.nsf/6427a6b7538955c585257359003f0230/0c43e41531a2f7848525757e00664797!OpenDocument.
  49. ^ Voorhis, Dan (2010-12-16). “Fertilizer Helps Koch Grow”. Wichita Eagle. http://www.kansas.com/2010/12/16/1635564/fertilizer-helps-koch-grow.html.
  50. ^ “Toxic 100 Air Polluters” (Press release). March 31, 2010. http://www.peri.umass.edu/toxic_press/.
  51. ^ “Koch Companies Recognized with 289 Stewardship Awards since 2009″ press release, January 24, 2011.
  52. ^ “Koch Industries Inc., Earns Prestigious Energy Star for Efficiencies at Wichita Complex” (Press release). Koch Industries. 17 June 2008. http://www.kochind.com/newsroom/news_releases_details.aspx?id=994. Retrieved 2010-05-31.
  53. ^ “ENERGY STAR Labeled Offices in Kansas”. energystar.gov. U.S. Environmental Protection Agency. http://www.energystar.gov/index.cfm?fuseaction=labeled_buildings.showMap&SEARCH_OWNER_ID=&S_CODE=KS&PROFILES=&YEAR=&BUILDING_TYPE_ID=700&SEARCH_SPP_ID=&CITY=&ZIP=&SEARCH_PROP_MANAGER_ID=&FILTER_B_ID=#. Retrieved 30 May 2010.
  54. ^ “Process and Pollution Control”. kochenergy.com. Koch Industries. http://kochenergy.com/EHS/processandpollutioncontrol.aspx. Retrieved 30 May 2010.
  55. ^ “Performance Track Final Progress Report”. epa.gov. U.S. Environmental Protection Agency. May 2009. http://www.epa.gov/performancetrack/downloads/PT_ProgRprt_2009_web.pdf. Retrieved 30 May 2010.
  56. ^ Heck, Josh (18 May 2011). “Red Cross Recognizes three fundraisers”. Wichita Business Journal. http://www.bizjournals.com/wichita/news/2011/05/18/red-cross-recognizes-three-fundraisers.html. Retrieved 19 May 2011.
  57. ^ a b Rubin, Jennifer. “Koch responds to Bloomberg”. The Washington Post. http://www.washingtonpost.com/blogs/right-turn/post/koch-responds-to-bloomberg/2011/03/29/gIQA3KzNIL_blog.html. Retrieved 5 October 2011.
  58. ^ “SUMMARY JUDGMENTS: Our daily legal-news aggregator for May 11, 2011″ Thompson Reuters News and Insight
  59. ^ Secretive Republican Donors Are Planning Ahead by Kate Zernike published October 19, 2010, New York Times
  60. ^ Pulling the Wraps Off Koch Industries By LESLIE WAYNE; Published: November 20, 1994; New York Times; ” Their donations reflect their belief in libertarian and free market philosophies or their personal interests.”
  61. ^ OpenSecrets, Summary of Koch Industries
  62. ^ Koch Industries: Secretly Funding the Climate Denial Machine . greenpeace.org . 30 March 2010]
  63. ^ a b c d e f g Covert Operations The billionaire brothers who are waging a war against Obama. by Jane Mayer . newyorker.com . August 30, 2010
  64. ^ Vidal, John (30 March 2010). “US oil company donated millions to climate skeptic groups, says Greenpeace”. The Guardian (London). http://www.guardian.co.uk/environment/2010/mar/30/us-oil-donated-millions-climate-sceptics.
  65. ^ “Secretly Funding the Climate Denial Machine”. Global Warming. Washington: Greenpeace. 2010-03-29. http://www.greenpeace.org/usa/campaigns/global-warming-and-energy/polluterwatch/koch-industries. Retrieved 2010-04-01.
  66. ^ http://www.kochind.com/ViewPoint/lowCarbon.aspx Low Carbon Fuel Standards
  67. ^ “Mercatus, the staunchly anti-regulatory center funded largely by Koch Industries Inc.” I Am OMB and I Write the Rules By Al Kamen washingtonpost.com, July 12, 2006]
  68. ^ Koch Companies Have Received Almost $100 Million In Government Contracts August 20, 2010 — Media Matters Action Network
  69. ^ Why Koch Industries is Speaking Out, Wall Street Journal, March 1, 2011

External links

The Billionaires’ Tea Party HD

Koch Brothers: The Original Oil Speculators

    Koch Bros: Evil or Easy Targets?

Koch brothers – Jane Mayer (Fresh Air) 1/3

Koch brothers – Jane Mayer (Fresh Air) 2/3

Koch brothers – Jane Mayer (Fresh Air) 3/3

Billionaire Brothers Waging War – Charles Lewis on DemocracyNOW! 

Romney Koch Brothers Connections

Robert Greenwald on KPFK’s “The Uprising”: Koch Brothers Exposed

“Koch Brothers Exposed” Trailer Screening and Panel Discussion @ FSU 

Oilmen Fund Anti-Global Warming Groups 

Alex Jones: ‘The Koch Brothers’ and the False Left Right Paradigm

Rush Limbaugh vs Ron Paul – Has Limbaugh Been Bought by the Koch Brothers or GOP?

How the Koch Brothers (proponents of Free Markets) control American Politics

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Remembering Friedrich August Hayek–Video

Posted on March 23, 2012. Filed under: American History, Blogroll, College, Communications, Economics, Education, Employment, government, government spending, history, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Raves, Unemployment, Video, War, Wealth, Wisdom | Tags: , , , , , |

Friedrich August Hayek

(8 May 1899-23 March 1992)

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Forseeing the Fall

Thomas W. Hazlett from the July 1992 issue

“…Reason: Are you optimistic about the future of freedom?

Hayek: Yes. A qualified optimism. I think there is an intellectual reversion on the way, and there is a good chance it may come in time before the movement in the opposite direction becomes irreversible. I am more optimistic than I was 20 years ago, when nearly all the leaders of opinion wanted to move in the socialist direction. This has particularly changed in the younger generation. So, if the change comes in time, there still is hope. …”

http://reason.com/archives/1992/07/01/the-road-from-serfdom/singlepage

Friedrich August Hayek

“…Friedrich August Hayek CH (German pronunciation: [ˈfʁiːdʁɪç ˈaʊ̯ɡʊst ˈhaɪ̯ɛk]) (8 May 1899 – 23 March 1992), born in Austria-Hungary as Friedrich August von Hayek, was an economist and philosopher best known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought. In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences (with his political rival, Gunnar Myrdal) for his “pioneering work in the theory of money and economic fluctuations and… penetrating analysis of the interdependence of economic, social and institutional phenomena”. He considered the efficient allocation of capital to be the most important factor leading to sustainable and optimal GDP growth, and warned of harms from monetary authority manipulation of interest rates. Interest rates should be set naturally by equilibrium between consumption of goods or capital stock.[1]

Hayek is considered to be a major economist and political philosopher of the twentieth century.[2][3] Along with his mentor Ludwig von Mises, he was an important contributor to the Austrian school of economic thought. Hayek’s account of how changing prices communicate information which enable individuals to coordinate their plans is widely regarded as an important achievement in economics.[4] He also contributed to the fields of systems thinking, jurisprudence, neuroscience and the history of ideas.

Hayek served in World War I and said that his experience in the war and his desire to help avoid the mistakes that had led to the war (see below) led him to his career. Hayek lived in Austria, Great Britain, the United States and Germany, and became a British subject in 1938. He spent most of his academic life at the London School of Economics (LSE), the University of Chicago, and the University of Freiburg.

In 1984, he was appointed as a member of the Order of the Companions of Honour by Queen Elizabeth II on the advice of Prime Minister Margaret Thatcher for his “services to the study of economics.”[5] He also received the US Presidential Medal of Freedom in 1991 from president George H. W. Bush.[6] In 2011, his article The Use of Knowledge in Society was selected as one of the top 20 articles published in the American Economic Review during its first 100 years.[7] …”

http://en.wikipedia.org/wiki/Friedrich_Hayek

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‘Ponzi’ President Obama Proposes Cutting Social Security By Cutting Payroll Taxes–Totally Irresponsible–Videos

Posted on September 9, 2011. Filed under: American History, Banking, Blogroll, Books, Business, Communications, Crime, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Public Sector, Rants, Raves, Security, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , |

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Paul Ryan:  Hiding Spending Doesn’t Reduce Spending

Peter Schiff, Ron Paul, Max Keiser – Social Security Ponzi Scheme

Two Former Social Security Officials Admit The System Is Not Much Different from a Ponzi Scheme

Perry Fires At Rove & Romney: Social Security Is A “Ponzi Scheme” And A “Monstrous Lie”

Fox ‘Straight News’ Anchor MacCallum Defends Perry’s Claim That Social Security Is A ‘Ponzi Scheme’

Social Security and Medicare use a pay as you go system to fund Social Security and Medicare benefits to those who are entitled to them.

Current workers pay Social Security and Medicare payroll taxes.

These tax revenues are used to pay the benefits to Social Security recipients and those on Medicare who have incurred medical bills.

Both Social Security and Medicare are running deficits–they are paying out more in benefits than they are collecting in payroll taxes.

President Obama is proposing that payroll taxes for Social Security  be cut.

In other words for a period of time the current workers can stop paying into the Ponzi scheme of Social Security.

This only increase the size of the Social Security  deficit and is fiscally irresponsible.

To correct the situation requires either the raising of payroll taxes or the cutting of benefits to Social Security recipients.

Few Democratic or Republicans politicians will clearly tell you these facts.

Both Social Security and Medicare must be reformed so they are no longer a Ponzi scheme run and controlled by the federal government.

Instead of the federal government running the Ponzi scheme and spending your money as it sees fit, individuals need to control and own their retirement and health insurance plan accounts.

If a private retirement or health insurance plan was run like Social Security or Medicare, they would go broke and those responsible might very well go to jail for fraud and theft of funds.

Texas Governor Rick Perry and Texas Congressman Ron Paul are right, Social Security is a Ponzi scheme.

This Ponzi scheme for funding Social Security and Medicare needs to be stopped.

Paul has an even better idea.

Let’s give  every American the right to opt out of Social Security and Medicare.

These individuals could purchase their own retirement and health insurance plans that they own and control.

Those Americans all ready receiving Social Security and Medicare and those electing to stay in the current system would be permitted to do so.

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Warmongers and Welfare Statists United In Defense of The Warfare & Welfare Economy and Tyrannical Bureaucracy vs. Peace & Prosperity Economy and Constitutional Republic

Posted on June 23, 2011. Filed under: Banking, Blogroll, Business, College, Communications, Economics, Education, Energy, Enivornment, Federal Government, Fiscal Policy, government, government spending, history, Language, Law, liberty, Life, Links, media, Microeconomics, Money, People, Philosophy, Politics, Private Sector, Public Sector, Raves, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , |

 

“Over grown military establishments are under any form of government inauspicious to liberty, and are to be regarded as particularly hostile to republican liberty. “

~George Washington

 

President Obama Afghanistan Withdrawal Speech (June 22, 2011)

 

Ron Paul: Bring ALL the troops home ABC 6/22/2011

 

Ron Paul: Is War Ever Justifiable?

 

Senators McCain & Kerry Move To Extend War In Libya For A Year!

 

“I Believe The President Did The Right Thing By Intervening In Libya!” Senator John McCain

 

“We Didn’t Choose This Fight! It Started With 9/11″ John Kerry On Why We Must Fight Gaddafi pt.1

 

“We Didn’t Choose This Fight! It Started With 9/11″ John Kerry On Why We Must Fight Gaddafi pt.2

 

We Can No longer Afford To Rebuild Afghanistan & America! We Must Choose & I Choose America! pt.1

 

We Can No longer Afford To Rebuild Afghanistan & America! We Must Choose & I Choose America! pt.2

 

Milton Friedman – Emergence of the modern welfare state

Responsibility to the Poor

 

 

Ron Paul: Leave Libya Alone!

 

Ron Paul’s Words of Warning From 1983 to 2008

 

Ron Paul warns of 9/11 like event in 1998 – RP2012

 

Ron Paul: It’s Time to Get out of Afghanistan!

 

Ron Paul – Current Conditions Or Just A Bad Dream ?

 

Ron Paul on the Deficit, Government Spending, and Military Industrial Complex (1988)

 

Eisenhower warns us of the military industrial complex

 

Military Industrial Complex Totally Out of Control!

 

Founding Fathers: The Threat of Tyranny

 

“It is our true policy to steer clear of permanent alliances with any portion of the foreign world.”

~George Washington

 

 “Commerce with all nations, alliance with none, should be our motto.”

~Thomas Jefferson

The progressive government interventionists of both the Democratic and Republican parties are uniting in defense of the warfare and welfare economy and tyrannical bureaucracy.

Their goals are clear–perpetual never-ending war and cradle to grave welfare dependency on the state.

The American people oppose the warfare and welfare economy.

The American people want a peace and prosperity economy.

The American people want the troops to brought home.

The American people want the Federal Government to live  within its means of the American people  by permanently closing Federal Department including the following:

  1. Department of Agriculture
  2. Department of Commerce
  3. Department of Education
  4. Department of Energy
  5. Department of Housing and Urban Development
  6. Department of Homeland Security
  7. Department of Labor
  8. Department of Interior
  9. Department of Transportation
  10. Department of Veteran Affairs

 

 Milton Friedman on Libertarianism (Part 4 of 4)

 

Paul & Stossel: Libertarians Talk

 

Ron Paul: Get Gov’t Out of Healthcare

 

Ron Paul on Constitutional Freedoms

 

 

Ron Paul on Freedom of Choice

 

Ron Paul on Illegal Immigration

  

 

Ron Paul – The Role of Government 1988! (Part 1/4)

 

Ron Paul – The Role of Government 1988! (Part 2/4)

 

Ron Paul – The Role of Government 1988! (Part 3/4)

 

 

Ron Paul – The Role of Government 1988! (Part 4/4)

 

 

 

 

 

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Ending The Crimes of Centuries–Ideas Whose Time Have Come–Constitutional Republics and Market Capitalism–Videos

Posted on April 20, 2011. Filed under: American History, Banking, Blogroll, Books, Business, Communications, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Public Sector, Rants, Raves, Regulations, Strategy, Taxes, Technology, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

“Nothing else in the world…not all the armies…is so powerful as an idea whose time has come.”

~Victor Hugo

An Idea Whose Time Has Come – G. Edward Griffin – Freedom Force International

 

The Capitalist Conspiracy – G Edward Griffin

 

G. Edward Griffin – Creature from Jekyll Island [Part 1]

 

G. Edward Griffin – Creature from Jekyll Island [Part 2]

 

G. Edward Griffin – Creature from Jekyll Island [Part 3]

 

G. Edward Griffin – Creature from Jekyll Island [Part 4]

 

G. Edward Griffin – Creature from Jekyll Island [Part 5] 

 

 

 The Movie: Federal Reserve (Part 1 of 5)

The Movie: Federal Reserve (Part 2 of 5)

 

The Movie: Federal Reserve (Part 3 of 5)

 

The Movie: Federal Reserve (Part 4 of 5)

 

The Movie: Federal Reserve (Part 5 of 5)

 

 

Greenspan Denies Blame for Crisis, Admits ‘flaw’

 

alan greenspan defends himself

 

Let Greenspan Tell You What Fed is!

 

THE GREAT CON JOB – DYLAN RATIGAN – 1 (APRIL 8 2010)

 

THE GREAT CON JOB – DYLAN RATIGAN – 2 (APRIL 8 2010)

 

Glenn Beck-04/19/11-A

 

Glenn Beck-04/19/11-B

Background Articles and Videos

G. Edward Griffin- On Individualism v Collectivism #1

 

 

G. Edward Griffin- On Individualism v Collectivism #2

 

Ed Griffin Collectivism

 

Milton Friedman – Collectivism

 

Milton Friedman – The Proper Role of Government

Ayn Rand – Reason vs Force

 

 

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Just One More Thing Congressman Ryan: When Does The Republican’s Path To Prosperity Balance The Budget?–The Twelth of Never!

Posted on April 5, 2011. Filed under: Agriculture, American History, Banking, Blogroll, Business, Communications, Demographics, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, Health Care, history, Homes, Immigration, Investments, Language, Law, liberty, Life, Links, media, Medicine, Monetary Policy, Money, Music, People, Philosophy, Politics, Private Sector, Public Sector, Rants, Raves, Regulations, Strategy, Talk Radio, Taxes, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , |

Give it a listen!

Pronk Pops Show 24: April 19, 2011

Pronk Pops Show 23: April 12, 2011

Pronk Pops Show 22 (Part 2): April 7, 2011

Pronk Pops Show 22 (Part 1): April 7, 2011

April 08, 2011 11:16 AM PDT

Pronk Pops Show 22, April 7, 2011

Segment 1: 3,500,000 Million Americans Unemployed in March 2011 Still Exceeds Great Depression High of 13,000,000 In March 1933–The Obama Depressions Continues–Bureau of Labor Statistics: 8.8% Official Unemployment Rate (U-3) vs. Gallup Unemployment Rate of 10.0%–Nonfarm Payroll Increased By 216,000–The Government Makes The Depression Worse!–Videos

Segment 2: Obama’s Anti-American, Anti-Capitalist, Anti-Growth, Anti-Jobs, and Anti-Security Energy Policy–Videos

Segment 3: Republican Establishment Will Propose A Ten Year $6,200 Billion Cut In Spending Over Ten Years–The Problem Is It Does Not Balance The Budget For Another Five Years At The Earliest–Tea Party Movement Demands Balanced Budgets Starting In 2012 For The Next Ten Years!–A Jet Plane To Prosperity Not A Path To Prosperity–Videos

Segment 4: Just One More Thing Congressman Ryan: When Does The Republican’s Path To Prosperity Balance The Budget?–The Twelth of Never!–Videos

For additional information and videos on the above segments:

http://pronkpops.wordpress.com/2011/04/04/pronk-pops-show-22-april-5-2011-segment-113500000-million-americans-unemployed-in-march-2011-still-exceeds-great-depression-high-of-13000000-in-march-1933%E2%80%93the-obama-depressions-contin/

Johnny Mathis – The Twelfth Of Never

Ryan Unveils Much Anticipated 2012 Budget Plan

Sean Interviews Paul Ryan

S-1 FY2012 Chairman’s Markup

(Nominal Dollars in Billions)

Fiscal Year Outlays Revenues Deficits Debt Held By Public
2011 3,618 2,230 -1,388 10,351
2012 3,529 2,533 -995 11,418
2013 3,559 2,860 -699 12,217
2014 3,586 3,094 -492 12,801
2015 3,671 3,237 -434 13,326
2016 3,858 3,377 -481 13,886
2017 3,998 3,589 -408 14,363
2018 4,123 3,745 -379 14,800
2019 4,352 3,939 -414 15,254
2020 4,544 4,142 -402 15,681
2021 4,739 4,354 -385 16,071
2012-2021 39,958 34,870 -5,088 n.a.

 

http://budget.house.gov/UploadedFiles/PathToProsperityFY2012.pdf

 

S-1 FY2012 President’s Budget

(Nominal Dollars in Billions)

Fiscal Year Outlays Revenues Deficits Debt Held By Public
2011 3,819 2,174 -1,645 10,856
2012 3,729 2,627 -1,101 11,881
2013 3,771 3,003 -768 12,784
2014 3,977 3,333 -646 13,562
2015 4,190 3,583 -607 14,301
2016 4,468 3,819 -649 15,064
2017 4,669 4,042 -627 15,795
2018 4,876 4,257 -619 16,513
2019 5,154 4,473 -681 17,284
2020 5,442 4,686 -735 18,103
2021 5,697 4,923 -774 18,967
2012-2021 45,952 38,747 -7,205 n.a.

 

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/tables.pdf

The tea party movement’s budget would require the Federal Government to have a balanced or surplus budget in every fiscal year starting in 2012 with a declining national debt starting in Fiscal Year 2017.

S-1 FY2012 Tea Party’s Balanced/Surplus Budget

(Nominal Dollars in Billions)

Fiscal Year Outlays Revenues Surpluses Debt Held By Public
2012 2,500 2,500 0 10,900
2013 2,800 2,800 0 10,900
2014 3,000 3,000 0 10,900
2015 3,200 3,200 0 10,900
2016 3,300 3,300 0 10,900
2017 3,400 3,500 100 10,800
2018 3,500 3,700 200 10,600
2019 3,600 3,900 300 10,300
2020 3,700 4,000 300 10,000
2021 3,800 4,300 500 9,500
2012-2021 32,800 34,200 1,400 n.a.

Summary of Outlays, Revenues (Receipts), Deficits, Surpluses

Fiscal Years 1980-2010

(Nominal Dollars in Millions)

Fiscal Year Outlays Revenues (Receipts) Deficits (-), Surpluses
1980 590,941 517,112 -73,830
1981 678,241 599,272 -78,968
1982 745,743 617,766 -127,977
1983 808,364 600,562 -207,802
1984 851,805 666,488 -185,367
1985 946,344 734,037 -212,308
1986 990,382 769,155 -221,277
1987 1,004,017 854,288 -149,730
1988 1,064,417 854,288 -155,178
1989 1,143,744 991,105 -152,639
1990 1,252,994 1,031,958 -221,036
1991 1,324,226 1,054,988 -269,238
1992 1,381,529 1,091,208 -290,321
1993 1,409,386 1,154,335 -255,051
1994 1,461,753 1,258,566 -203,186
1995 1,515,742 1,351,790 -163,392
1996 1,560,484 1,453,053 -107,431
1997 1,601,116 1,579,232 -21,884
1998 1,652,458 1,721,728 69,270
1999 1,701,842 1,827,452 125,610
2000 1,788,950 2,025,191 236,241
2001 1,862,846 1,991,082 128,236
2002 2,010,894 1,853,136 -157,758
2003 2,159,899 1,782,314 -377,585
2004 2,292,841 1,880,114 -412,727
2005 2,471,957 2,153,611 -318,346
2006 2,655,050 2,406,869 -248,181
2007 2,728,686 2,567,985 -160,701
2008 2,982,544 2,523,991 -458,553
2009 3,517,677 2,104,989 -1,412,688
2010 3,456,213 2,162,724 -1,293,489

For a history of the Federal Government’s Receipts (Revenues), Outlays, and Deficits and Surpluses

Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits (-): 1789–2016

“…Historical Tables provides data on budget receipts, outlays, surpluses or deficits, Federal debt, and Federal employment over an extended time period, generally from 1940 or earlier to 2012 or 2016.

To the extent feasible, the data have been adjusted to provide consistency with the 2012 Budget and to provide comparability over time.

To download the Historical Tables as a single PDF, click here (360 pages, 3.2 MB) …”

http://www.whitehouse.gov/omb/budget/Historicals

Neither the Republican nor Democratic Party is capable of living within the means of the American people.

The political class or elites are not serious and do not understand the problem.

If they did they would have a sense of urgency which is lacking in both the Democratic and Republican proposed budgets.

 
Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending
 

The Republicans are proposing a budget for Fiscal Year 2012 of $3,618 billion compared with the President Obama’s $3,729.

This results in a deficit of $995 billion for the Republican budget and $1,101 billion for President Obama’s budget.

As the above tables clearly show, neither party is capable of balancing the budget in the next ten years.

The above budgets are needed to support a warfare and welfare economy with a collectivist state.

The above budgets are not a pathway to a peace and prosperity economy with a constitutional republic.

The budget needs to be balanced starting in fiscal year 2012 at $2,500 billion or less.

The tea party movement demands that from here on out that all budgets be either balanced or in surplus with no tax increases.

Please do not tell me Congressman Ryan that the budget will me in primary balance by 2015.

Primary balance means you exclude interest on the national debt  from expenditures or outlays.

A budget in primary balance is just a rather lame-duck president’s attempt to confuse the American people.

I am not confused or amused by President Obama totally irresponsible Fiscal Year 2012 budget proposal.

Nor am I impressed with the so-called path to a balanced budget and a path to prosperity for the United States economy.

The tea party movement does not want a path to prosperity but a jet plane ride to a balanced budget in Fiscal Year 2012 without any new taxes.

Start permanently shutting down ten Federal Departments before you even begin to think about  cutting mandatory spending or entitlements including Social Security, Medicare and Medicaid.

The American people want the FairTax not the continuation of an overly complicated Federal Income taxation system even with a lower rate of 25% for individuals and corporations.

The FairTax: It’s Time

President Obama’s Fiscal Year 2012 budget gets a F and it will cost him his re-election.

The American people have no intention of getting in the Democratic Party’s car driven by Nancy Pelosi and Barack Obama:

The American people have no intention of getting on the Republican Party’s path to prosperity either.

The Republican Fiscal Year 2012 budget gets a D+.

Milton Friedman would give you a D-:

The  American people demand fiscal responsibility or living within ones means for the Federal Government starting with the Fiscal Year 2012 Federal Government Budget.

The American people were listening when the Republican establishment’s leadership said they heard the American people.

Republicans roll out “Pledge to America”

Pledge to America Preamble

“Pledge to America” Unveiled by Republicans (Full Text)

http://www.cbsnews.com/8301-503544_162-20017335-503544.html

The Republican Pledge to America clearly stated that:

“We have a plan to impose fiscal discipline and cut government down to size.”

The Republican Pathway to Prosperity is that plan and it does not impose fiscal discipline  nor does it cut down the size of the Federal Government.

Over the next ten fiscal years, there is not one single year in which the fiscal discipline of a balanced budget is met.

The Republican Pledge to America clearly stated that:

“With common-sense exceptions for seniors, veterans, and our troops, we will roll back government spending to pre-stimulus, pre-bailout levels, saving us at least $100 billion in the first year alone and putting us on a path to balance the budget and pay down the debt. We will also establish strict budget caps to limit federal spending from this point forward.”

For Fiscal Year 2008 the total actual outlays were $2,982 billion and total actual revenues or receipts from taxation were $2,523 billion for the U.S. Federal Government with a deficit of $458 billion.

The Republican Pathway to Prosperity proposes in Fiscal Year 2012 total estimated outlays of $3,529 billion and total estimated revenues of $2,533 billion resulting in a deficit of $997 billion.

The Republican Party establishment and leadership misled and lied to the American people and the tea party movement when it said it would “roll back government spending to pre-stimulus, pre-bailout levels.”
Both the Democratic and Republican Party proposed U.S. Federal Government budgets are extremely dangerous for they  generate increasing uncertainty among business owners and consumers as to where this ultimately leads the economy and nation.

“Extreme Spending”

The Republican establishment’s leadership in Washington D.C.  needs to be replaced for they have refused to learn the lessons of the 2006 and 2008 elections and apparently need to learn another lesson in 2012.

If you are a tea party movement patriot challenge all House and Senate seats currently held by Republicans if they vote for this fiscally irresponsible and unbalanced budget for Fiscal Year 2012.

The tea party movement  has been betrayed by the Republican Party leadership and establishment in Washington, D.C.

Dan Mitchell gets a A+.

It’s Simple to Balance The Budget Without Higher Taxes

Controlling Leviathan: The Battle for Limited Government

Question and Answer Session: The Fight Against Big Government

I didn’t leave the Republican Party, the Republican Party left me.

The independents and the tea party movement have given up on both political parties.

The Pathway to Prosperity is the Republican Party’s timid attempt to capture the independents and tea party movement.

No sale.

The tea party movement will not be pleased.

They will be leaving on a jet plane.

I will be voting for Ron Paul for President in 2012 and Michele Bachmann for Vice-President.

SA@TAC – Ron Paul’s Pledge to America

P.S. You really disappointed me Congressman Ryan, your proposal is neither bold nor timid, it is fiscally irresponsible and gutless.

Suggest Paul Ryan talk to some Senators who understand the problem and what needs to be done now.

Rand Paul and Mike Lee on “Glenn Beck” with Judge Napolitano 03/07/11

ELVIS PRESLEY TWELVE OF NEVER

Related Posts On Pronk Palisades

Ron Paul Tells The Truth–The Political Elites Are Not Serious About Cutting The Budget–The Coming Collapse Of The Dollar And Inflation–Videos

Ron Paul, Michele Bachmann And Rand Paul–Stop Spending Money You Don’t Have!–Balance The Budget–Tea Party Budget Gets It Right–Videos

Republican Party Establishment Ruling Class Betrays The Tea Party Movement and American People With A Fiscal Year 2012 Budget Resolution With A Deficit of $995 Billion And Budgets Not Balanced In Next Ten Years–Replace Republican Party Leadership–Videos

Republican Establishment Will Propose A Ten Year $6,200 Billion Cut In Spending Over Ten Years–The Problem Is It Does Not Balance The Budget For Another Five Years At The Earliest–Tea Party Movement Demands Balanced Budgets Starting In 2012 For The Next Ten Years!–Videos

Tea Party Movement Demands Passage of Balanced Budget Amendment and The FairTax As The Price For Raising The National Statutory Debt Limit of $ 14,294,000,000 One Last Time By $1,000,000,000,000!–Videos

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Read Full Post | Make a Comment ( 2 so far )

Preventing War By Expanding Free Markets–Videos

Posted on January 15, 2011. Filed under: Agriculture, Blogroll, Communications, Crime, Culture, Demographics, Economics, Education, Employment, Federal Government, government, government spending, history, Law, liberty, Life, Links, media, Medicine, People, Philosophy, Politics, Psychology, Rants, Raves, Science, Security, Taxes, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , |

What is the Best Way to Prevent War?

http://www.youtube.com/watch?v=iZQkXnsLEcs

 

Power of the Market – Conglomerates & Free Trade

 

Free Trade: The Great Prosperity Machine

 

 

Capitalism in China: Should We Trade With Them? – Ayn Rand Center for Individual Rights

 

Global Economics – Global Exchange: Free Trade & Protection 

 

Background Articles and Videos

What We Believe, Part 1: Small Government and Free Enterprise.

 

What We Believe, Part 2: The Problem with Elitism

 

What We Believe, Part 3: Wealth Creation

 

What We Believe, Part 4: Natural Law

 

What We Believe, Part 5: Gun Rights

 

What We Believe, Part 6: Immigration

 

What We Believe, Part 7: American Exceptionalism

 

Tactics for socialist takeover of nations 1 of 2: Fabianism & Leninism

 

Tactics for socialist takeover of nations 2 of 2: Fabianism & Leninism

 

Read Full Post | Make a Comment ( None so far )

Gary Becker–Videos

Posted on November 14, 2010. Filed under: Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, Health Care, Immigration, Investments, Language, Law, liberty, Life, Links, media, Medicine, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Regulations, Talk Radio, Taxes, Technology, Video, Wisdom | Tags: , , , |

Gary Becker – The Fed (1 of 5)

 

Gary Becker – The Fed 2 of 5)

 

Gary Becker – The Fed (3 of 5)

 

 

Gary Becker – Healthcare–A Millstone, Not A Milestone (4 of 5)

 

 

Gary Becker – Who Can You Trust? (5 of 5)

 

Gary Becker: Immigration 1

 

 

Gary Becker: Immigration 2

 

Gary Becker: Immigration 3

 

Gary Becker: Immigration 4

 

Gary Becker: Immigration 5

 

Gary Becker: Immigration 6

 

Gary Becker: Immigration 7

 

Gary Becker Intellectual Portrait part 1

 

Gary Becker Intellectual Portrait part 2

 

Gary Becker Intellectual Portrait part 3

 

Gary Becker Intellectual Portrait part 4

 

Gary Becker Intellectual Portrait part 5

 

Gary Becker Intellectual Portrait part 6

 

Gary Becker Intellectual Portrait part 7

 

Gary Becker Intellectual Portrait part 8

 

Gary Becker Intellectual Portrait part 9

 

Entrevista Gary Becker, Nobel Economía 1992 – ICEX

 

 

Gary Becker: Fear, Technology, & Education

 

Uncommon Sense

Milton Friedman & Gary Becker 1/7

 

Milton Friedman & Gary Becker 2/7

 

Milton Friedman & Gary Becker 3/7

 

Milton Friedman & Gary Becker 4/7

Milton Friedman & Gary Becker5/7

 

Milton Friedman & Gary Becker6/7

 

Milton Friedman & Gary Becker7/7

 

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Milton Friedman On The Federal Reserve’s Printing Money Or Quantitative Easing Monetary Policy To Increase Inflation and Reduce Unemployment–Absolutely Not!

Posted on November 8, 2010. Filed under: Banking, Blogroll, Communications, Economics, Education, Federal Government, Fiscal Policy, government, history, Language, Law, liberty, Life, Links, media, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Regulations, Resources, Taxes, Video, War, Wisdom | Tags: , , , , , , , , |

Milton Friedman vs. the Fed

The Nobel laureate would never have endorsed increasing inflation to stimulate the economy.

By ALLAN H. MELTZER

“…Friedman’s main message for central banks was to maintain a monetary rule that kept the growth of the money supply constant. In his Newsweek column, “Inflation and Jobs” (Nov. 12, 1979), for example, Friedman emphasized that “unemployment is . . . a side effect of the cure for inflation,” so that if a central bank “cured” unemployment by inflating, it “will have unemployment later.” In other words, don’t try it.

Friedman’s Newsweek column for July 28, 1980 (“Improving Monetary Policy”) came with the unemployment rate rising past 7%. His proposals for improving policy made no mention of using monetary expansion to reduce unemployment. He proposed rules for stable growth to achieve target “dollar levels of monetary aggregates.”

Friedman served on President Reagan’s economic policy advisory board. His memos on monetary policy repeat the themes he made familiar to Newsweek readers and others all over the world. There is not a word suggesting that monetary policy should try to raise the inflation rate in order to reduce the unemployment rate.

This is unsurprising, as he had explained many times in the past that any such reduction would be temporary and last only until people caught on to the higher inflation. At that point, they would demand higher wages and interest rates.

Friedman made an exception to his rule about steady-state monetary policy in case of deflation. When prices fell, as they had during the Great Depression or in Japan in the 1990s, he urged the central bank to increase money growth. I served as one of two honorary advisers to the Bank of Japan in the 1990s. With short-term rates close to zero, I gave the same advice, urging the bank several times to buy long-term bonds or foreign exchange to increase money growth until deflation ended.

All this is not relevant now, since there is no sign of deflation in the United States. The Fed’s claim that there is a risk of deflation should embarrass it. …”

http://online.wsj.com/article/SB10001424052748704462704575590721000212144.html

Ben Bernanke’s Impossible Dream

The Fed’s reckless notion that it can simultaneously raise inflation and lower interest rates presumes bond buyers are fools. They aren’t.

By ALAN REYNOLDS

“…Federal Reserve Chairman Ben Bernanke may be an excellent economist, but he is not a very good bond salesman. Since his Aug. 27 speech at an annual Fed symposium in Jackson Hole, Wyo., he’s been telling us that he thinks inflation is too low and long-term interest rates are too high. In a quixotic effort to “maximize employment,” he’s begun purchasing up to $600 billion worth of long-term Treasury obligations to push inflation up and bond yields down.

If it worked as planned, this would flatten the yield curve, meaning it would narrow the spread between short-term and long-term interest rates. Since banks make money by borrowing short and lending long, the effect would be to discourage bank lending. That seems an unpromising way to stimulate the economy. But the whole notion of simultaneously raising inflation and lowering bond yields presumes bond buyers are docile fools. …”

“…The University of Michigan survey of expected inflation has hovered around 2.7%-3.2% since the recovery began last July, aside from two low readings of 2.2% in September 2009 and September 2010. That measure of inflation expectations has been higher than it was in November 2002, when then-Fed Governor Bernanke first began fretting about “deflation.” But inflation expectations are still not high enough to please the Fed chairman.

Domestic and foreign investors have reacted to the Fed’s plans by driving the dollar way down and commodity prices way up, which is consistent with higher expected inflation. So too is the gap between yields on regular Treasury bonds and the inflation-protected variety (TIPS), which has widened by more than 60 basis points since late August. …”

http://online.wsj.com/article/SB10001424052702303467004575574610003111250.html?mod=googlenews_wsj

Milton Friedman: The Purpose of the Federal Reserve

Milton Friedman explains role of gold in Great Depression.

 

Ron Paul – Dr. Allan Meltzer

Meltzer Says U.S. Economic Programs Have Been `Foolish’

Background Articles and Videos

Charlie Rose – An Appreciation of Milton Friedman

The Power of Choice – Milton Friedman

Allan Meltzer – Testimony on FED Power Expansion – Commitee Hearing – HR 1207 Audit the FED 7-9-09

 

More Perspective – Geithner Calls for Financial Regulation Overhaul – Bloomberg

 

Inside Look: Managing the Credit Crisis (Part 2)

 

Inside Look – Inflation Threat Looming? – Bloomberg

 

Allan H. Meltzer

“…Allan H. Meltzer is an American economist and professor of Political Economy at Carnegie Mellon University’s Tepper School of Business in Pittsburgh, Pennsylvania[1]. He was born February 6, 1928, in Boston, Massachusetts. He is the author of dozens of academic papers and books on monetary policy and the Federal Reserve Bank, and is considered one of the world’s foremost experts on the development and applications of monetary policy[2]. His book A History of the Federal Reserve is considered the most comprehensive history of the central bank.[3] Volume II of his History of the Federal Reserve Bank, which covers the years since the Federal Reserve accord in 1951 to 1969, was released in February, 2010.[4] Meltzer is considered to have originated the aphorism, “Capitalism without failure is like religion without sin. It doesn’t work.”[5] …”

http://en.wikipedia.org/wiki/Allan_Meltzer

Allan H. Meltzer

http://public.tepper.cmu.edu/facultydirectory/FacultyDirectoryProfile.aspx?id=98

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Milton Friedman–Capitalism and Freedom–Videos

Posted on October 15, 2010. Filed under: Blogroll, College, Communications, Economics, Education, Fiscal Policy, government, government spending, Health Care, history, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Resources, Taxes, Uncategorized, Video, Wisdom | Tags: , , |

Milton Friedman – Capitalism and Freedom 1/5

 

Milton Friedman – Capitalism and Freedom 2/5

 

Milton Friedman – Capitalism and Freedom 3/5

 

Milton Friedman – Capitalism and Freedom 4/5

 

 

Milton Friedman – Capitalism and Freedom 5/5

Capitalism and Freedom

“…Capitalism and Freedom is a book by Milton Friedman originally published in 1962 by the University of Chicago Press which discusses the role of economic capitalism in liberal society. It has sold over 400,000 copies in 18 years[1] and more than half a million since 1962. It has been translated into 18 languages. In accessible, jargon-free language, Friedman makes the case for economic freedom as a precondition for political freedom. He defines liberal in European Enlightenment terms, contrasting with an American usage that he believes has been corrupted since the Great Depression. Many North Americans usually categorized as conservative or libertarian have adopted some of his views. The book finds several realistic places in which a free market can be promoted for both philosophical and practical reasons, with several surprising conclusions. Among other concepts, Friedman advocates ending the mandatory licensing of doctors and introducing a system of vouchers for school education. …”

“…Chapter summaries

Introduction
The introduction lays out the principles of Friedman’s archetypal liberal, a man who supports limited and dispersed governmental power. Friedman opts for the continental European, rather than American, definition of the term.
i. The Relation between Economic Freedom and Political Freedom
In this chapter, Friedman promotes economic freedom as both a necessary freedom in itself and also as a vital means for political freedom. He argues that, with the means for production under the auspices of the government, it is nearly impossible for real dissent and exchange of ideas to exist. Additionally, economic freedom is important, since any “bi-laterally voluntary and informed” transaction must benefit both parties to the transaction.
ii. The Role of Government in a Free Society
According to the author, the government of a liberal society should enforce law and order and property rights, as well as take action on certain technical monopolies and diminish negative “neighborhood effects.” The government should also have control over money, as has long been recognized in the constitution and society.
iii. The Control of Money
He discusses the evolution of money in America, culminating in the Federal Reserve Act of 1913. Far from acting as a stabilizer, the Federal Reserve failed to act as it should have in several circumstances. Friedman proposes that the Federal Reserve have a consistent rule to increase the money supply by 3-5% annually.
iv. International Financial and Trade Arrangements
This chapter advocates the end of the Bretton Woods system in favor of a floating exchange rate system and the end of all currency controls and trade barriers, even “voluntary” export quotas. Friedman says that this is the only true solution to the balance of trades problem.
v. Fiscal Policy
Friedman argues against the continual government spending justified to “balance the wheel” and help the economy to continue to grow. On the contrary, federal government expenditures make the economy less, not more stable. Friedman uses concrete evidence from his own research, demonstrating that the rise in government expenditures results in a roughly equal rise in GDP, contrasting with the Keynesian multiplier theory. Many reasons for this discrepancy are discussed.
vi. The Role of Government in Education
The policy advocated here is vouchers which students may use for education at a private school of their choice. The author believes that everyone, in a democracy, needs a basic education for citizenship. Though there is underinvestment in human capital (in terms of spending at technical and professional schools), it would be foolish of the government to provide free technical education. The author suggests several solutions, some private, some public, to stop this underinvestment.
vii. Capitalism and Discrimination
In a capitalist society, Friedman argues, it costs money to discriminate, and it is very difficult, given the impersonal nature of market transactions. However, the government should not make fair employment practices laws (eventually embodied in the Civil Rights Act of 1964), as these inhibit the freedom to employ someone based on whatever qualifications the employer wishes to use. For the same reason, right-to-work laws should be abolished.
viii. Monopoly and the Social Responsibility of Business and Labor
Friedman states, there are three alternatives for a monopoly: public monopoly, private monopoly, or public regulation. None of these is desirable or universally preferable. Monopolies come from many sources, but direct and indirect government intervention is the most common, and it should be stopped wherever possible. The doctrine of “social responsibility”, that corporations should care about the community and not just profit, is highly subversive to the capitalist system and can only lead towards totalitarianism.
ix. Occupational Licensure
Friedman takes a radical stance against all forms of state licensure. The biggest advocates for licenses in an industry are, usually, the people in the industry, wishing to keep out potential competitors. The author defines registration, certification, and licensing, and, in the context of doctors, explains why the case for each one of these is weaker than the previous one. There is no liberal justification for licensing doctors; it results in inferior care and a medical cartel.
x. The Distribution of Income
Friedman examines the progressive income tax, introduced in order to redistribute income to make things more fair, and finds that, in fact, the rich take advantage of numerous loopholes, nullifying the redistributive effects. It would be far more just to have a uniform flat tax with no deductions, which could meet the 1962 tax revenues with a rate only slightly greater than the lowest tax bracket at that time.
xi. Social Welfare Measures
Though well-intentioned, many social welfare measures don’t help the poor as much as some think. Friedman focuses on Social Security as a particularly large and unfair system.
xii. Alleviation of Poverty
He advocates a negative income tax to fix the issue, giving everyone a guaranteed minimum income, rather than current measures, which he sees as misguided and inefficient.
xiii. Conclusion
The conclusion to the book centers on how, time and time again, government intervention often has an effect opposite of that intended. Most good things in the United States and the world come from the free market, not the government, and they will continue to do so. The government, despite its good intentions, should stay out of areas where it does not need to be.

Impact

The effects of Capitalism and Freedom were great yet varied in the realm of political economics. Some of Friedman’s suggestions are being tested and implemented in many places, such as the flat income tax in Slovakia, a floating exchange rate which has almost fully replaced the Bretton Woods system, and school vouchers for Hurricane Katrina evacuees, to cite a few prominent examples. However, many other ideas have scarcely been considered, such as the end of licensing, and the abolition of corporate income tax (in favor of an income tax on the stock holder). Though politicians often claim that they are working towards “free trade,” an idea the book supports, no one has considered taking his suggestion of phasing out all tariffs in 10 years. Nevertheless, Friedman popularized many ideas previously unknown to most outside economics. This and other works helped Milton Friedman to become a household name. The Times Literary Supplement called it “one of the most influential books published since the war.” However, many of the ideas described in this book are considered controversial or even radical to this day.

Capitalism and Freedom made the Intercollegiate Studies Institute‘s 50 Best Books of the Twentieth Century and also was placed tenth on the list of the 100 best non-fiction books of the twentieth century compiled by National Review. …”

http://en.wikipedia.org/wiki/Capitalism_and_Freedom

 

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Milton Friedman At Hillsdale–Videos

Posted on October 15, 2010. Filed under: Blogroll, College, Communications, Culture, Demographics, Economics, Education, Employment, Fiscal Policy, Foreign Policy, government, government spending, history, Homes, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Quotations, Raves, Regulations, Resources, Reviews, Taxes, Technology, Transportation, Video, Wisdom | Tags: , , , |

Milton Friedman at Hillsdale – 1/6

 

Milton Friedman at Hillsdale – 2/6

 

Milton Friedman at Hillsdale – 3/6

 

Milton Friedman at Hillsdale – 4/6

 

Milton Friedman at Hillsdale – 5/6

 

Milton Friedman at Hillsdale – 6/6

 

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Milton Friedman On Business–Videos

Posted on October 15, 2010. Filed under: Blogroll, College, Communications, Demographics, Economics, Education, Fiscal Policy, government, government spending, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Resources, Taxes, Technology, Transportation, Video, Wisdom | Tags: , , , , , , , , , , , , |

Milton Friedman on Business 1/6

 

Milton Friedman on Business 2/6

 

Milton Friedman on Business 3/6

 

Milton Friedman on Business 4/6

 

Milton Friedman on Business 5/6

 

Milton Friedman on Business 6/6

 

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Milton Friedman On Monetary Policy–Videos

Posted on October 15, 2010. Filed under: Blogroll, College, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, history, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Resources, Security, Taxes, Video, Wisdom | Tags: , , , , , , , , |

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“History does not long entrust the care of freedom to the weak or the timid.”

~ President Dwight D. Eisenhower

Republicans Outline ‘Pledge to America’

A Pledge To America

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Full Text of Republican

A Pledge to America

a new governing agenda build on

The Priorities of Our Nation

The Principles We Stand For

&

America’s  Founding Values

Preamble

America is more than a country.

America is an idea – an idea that free people can govern themselves, that government’s powers
are derived from the consent of the governed, that each of us is endowed by their Creator with
the unalienable rights to life, liberty, and the pursuit of happiness. America is the belief that any
man or woman can – given economic, political, and religious liberty – advance themselves, their
families, and the common good.

America is an inspiration to those who yearn to be free and have the ability and the dignity to
determine their own destiny.

Whenever the agenda of government becomes destructive of these ends, it is the right of the
people to institute a new governing agenda and set a different course.

These first principles were proclaimed in the Declaration of Independence, enshrined in the
Constitution, and have endured through hard sacrifice and commitment by generations of
Americans.

In a self-governing society, the only bulwark against the power of the state is the consent of the
governed, and regarding the policies of the current government, the governed do not consent.
An unchecked executive, a compliant legislature, and an overreaching judiciary have combined
to thwart the will of the people and overturn their votes and their values, striking down longstanding
laws and institutions and scorning the deepest beliefs of the American people.

An arrogant and out-of-touch government of self-appointed elites makes decisions, issues
mandates, and enacts laws without accepting or requesting the input of the many.

2

Rising joblessness, crushing debt, and a polarizing political environment are fraying the bonds
among our people and blurring our sense of national purpose.

Like free peoples of the past, our citizens refuse to accommodate a government that believes it
can replace the will of the people with its own. The American people are speaking out,
demanding that we realign our country’s compass with its founding principles and apply those
principles to solve our common problems for the common good.

The need for urgent action to repair our economy and reclaim our government for the people
cannot be overstated.

With this document, we pledge to dedicate ourselves to the task of reconnecting our highest
aspirations to the permanent truths of our founding by keeping faith with the values our nation
was founded on, the principles we stand for, and the priorities of our people. This is our Pledge
to America.

We pledge to honor the Constitution as constructed by its framers and honor the original intent
of those precepts that have been consistently ignored – particularly the Tenth Amendment,
which grants that all powers not delegated to the United States by the Constitution, nor
prohibited by it to the states, are reserved to the states respectively, or to the people.
We pledge to advance policies that promote greater liberty, wider opportunity, a robust defense,
and national economic prAmerica is more than a country.

We make this pledge bearing true faith and allegiance to the people we represent, and we invite
fellow citizens and patriots to join us in forming a new governing agenda for America. …”

http://www.gop.gov/resources/library/documents/solutions/a-pledge-to-america.pdf

The biggest problem with “A Pledge To American” is its failure to address in a bold and creative way the economic problems facing the United States and its people.

Does the Republican Pledge permanently close one or more Federal Departments?

No.

Add VideoMilton Friedman on Libertarianism (Part 4 of 4)

Debt bomb 12 How to cut federal spending

Ronald Reagan – “We the People”

Does the Republican Pledge offer comprehensive tax reform such as the national sales consumption tax to replace the Federal Income Tax, payroll, estate and gift taxes?

No.

The FairTax: It’s Time

Does the Republican Pledge produce annual  surplus budgets by limiting Federal Government spending to 80% of FairTax revenue?

No.

Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending

Does the Republican Pledge transform Social Security and Medicare to an individually controlled and owned investment retirement  account and health insurance plan.

No.

Social Security Ponzi Scheme

Does the Republican Pledge address illegal immigration by demanding immigration law enforcement and the removal and deportation of illegal aliens?

No.

Lou Dobbs – E-Verify & Border Fence may be canceled – Feb 16, 2009

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Why not?

The Republican Pledge was vetted by political consultants and  lobbyists on K street who oppose all of the above as do the Republican establishment.

The Republican Pledge is simply timid or more precisely the anti-Obama agenda.

The Republican Pledge is neither bold nor inspiring with the exception of the preamble.

Going back to 2008 in Federal spending levels and freezing Federal  Government employee hiring is too little too late.

Why would we want to go back to where we were just two years ago?

Now if you want to go back to 1928 Federal spending levels under President Calvin Coolidge that would be ambitious.

A return to the  Republican establishment status quo in 2008 is playing defense.

Both  the economic policies and government intervention of Bush and Obama are responsible for the Great Recession.

This reminds me of  the economic policies and government intervention of Hoover and Roosevelt in the 1930s that led to the Great Depression.

Time to go on the offense.

Independents and tea party patriots will not be impressed.

Yes, the Pledge is better than the agenda of progressive radical socialists Democratic Party led by Barack Obama.

This is a a very low bar or standard to exceed.

Time for a new third political party with the tea party patriots as its core base with independents and the young as its growth opportunity.

Glenn Beck nailed it, the Pledge tells you what you want to hear, but does not tell you the truth and what you need to hear.

Glenn Beck-09/23/10-A

Glenn Beck-09/23/10-B

Glenn Beck-09/23/10-C

Ron Paul is also right, a GOP victory in 2010 would bring no change.

It would take several election cycles before the mess in Washington is cleaned up and the economy on the road to recovery a growth.

American Morning: Ron Paul on the state of the GOP

Ron Paul: GOP 2010 Victory Would Bring No Change

our pledge

As government expands, liberty contracts.

~President Ronald Reagan

Background Articles and Videos

Ronald Reagan TV Ad: “Its morning in America again”

Milton Friedman – The Great Depression Myth

Unpacking the “Pledge to America”

By Daniel Foster

“…The Pledge places job creation front and center, promising to stop all tax hikes scheduled to take effect on January 1, 2011 — not just those singled out by the Obama administration. The plan would also give small businesses the ability to deduct 20 percent of income from tax returns and, in an effort to tame productivity-stifling overregulation, would require congressional approval for any new administration rules that would impact the economy by $100 million or more.

Turning its attention to spending and the size of government, the Pledge proposes to immediately end TARP, cancel unspent stimulus dollars, and “roll back government spending to pre-stimulus, pre-bailout levels,” a move estimated to save $116 billion in the first year alone. It promises to end the government’s involvement in the revenue-sapping GSEs Fannie Mae and Freddie Mac while shrinking their portfolios and establishing new capital standards.

To rein in the size of government, the document proposes a hiring freeze on non-security personnel, and calls for any new federal program to come with a “sunset” clause that would place the onus on legislators to routinely reassess its merits and justify new funding.

But the plan does not set specific spending targets, promising only to “significantly” reduce Congress’s next budget and place a “hard cap” on the growth of future discretionary spending.

And it is decidedly vague on entitlement reform, laying out in broad terms a commitment to “regularly review” and “fully account” for Social Security, Medicare and Medicaid growth, but stopping well short of embracing specific entitlement reforms like those proposed in Wisconsin GOP congressman Paul Ryan’s “Roadmap.” …”

http://www.nationalreview.com/corner/247471/unpacking-pledge-america-daniel-foster

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Tea Party Time–American People March On Congress Saturday and Sunday March 20-21, 2010!–Kill The Bill–Vote No!

Posted on March 18, 2010. Filed under: Babies, Blogroll, Communications, Culture, Demographics, Economics, Education, Employment, Fiscal Policy, government, government spending, Health Care, history, Language, Law, liberty, Life, Links, media, Medicine, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Regulations, Resources, Taxes, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , |

 

“Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.”

~Benjamin Franklin, Historical Review of Pennsylvania, 1759

“We must, indeed, all hang together or, most assuredly, we shall all hang separately.”
~Attributed to Benjamin Franklin at the signing of
The Declaration of Independence

 

Qik – Michelle Bachmann – Code Red Rally by Jason Hoyt

 Michele Bachmann “We Can Kill It! WE CAN KILL IT!”

FREEDOM FLOOD D.C.! March 20, 2010 Code Red Rally, NO “Obamacare”!

 

Dems Push to Pass Health Bill

Glenn Beck – 03-18-10-A

Glenn Beck – 03-18-10-B

Glenn Beck – 03-18-10-C

Glenn Beck – 03-18-10-D

 

The time is now for the American people to get in their cars and trucks and come to Washington D.C. this Saturday and Sunday in the millions to stop the political tyranny of the progressive radical socialists of both political parties.

The goal is three million plus.

Ring the alarm.

Spread the word.

Form car polls.

Take a friend and neighbor to Washington D.C. with your family.

Bring one of the 30 million Americans looking for a full time job.

This is a grassroots movement of concerned American citizens.

Stop the red brigades of progressive radical socialists.

Otherwise, Obama Care or socialize medicine will pass.

The life you save may be your own.

Next on the progressive radical socialist agenda is amnesty and health care for illegal aliens, also known as comprehensive immigration reform.

If you doubt this, guess who is coming to Washington D.C. Sunday?

Illegal aliens demanding both amnesty and once they get it, health care as well.

Heads Up American Citizens–Illegal Aliens Marching for Amnesty For Illegals in Washington D.C. on Sunday, March 21, 2010–We The People Tea Party Counter March Planned–Be There with American Flags Flying! 

Preserve, protect and defend the United States Constitution and the American Republic by marching in Washington D.C. on both Saturday and Sunday, March 20 and 21, 2010 at the Mother of All Tea Parties!

Join The Second American Revolution.

Make History not Socialized Medicine! 

Bring your cameras and video camcorders to document the millions marching.

If you do not march, the progressive radical socialists will win:

Obama on single payer health insurance

SHOCK UNCOVERED: Obama IN HIS OWN WORDS saying His Health Care Plan will ELIMINATE private insurance

Obama SEIU’s Agenda is My Agenda

Meet President Obama’s Most Frequent Visitor ANDY STERN SEIU THUG COMMUNIST FAN

Andy Stern’s Healthcare Pledge

We the American people must fight back to keep and win our freedom:

Any Given Sunday – Peace by Inches – Pacino

John Adams. Liberty will reign.

JOHN ADAMS-Declaration of Independence-Drafting in 1776

 

John Adams – Declaration of Independence

The Meaning of Independence Day

 
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, and the pursuit of Happiness.”
 

~Thomas Jefferson, Declaration of Independence

 

Benjamin Franklin was right when asked what type of government do we have:

Outside Independence Hall when the Constitutional Convention of 1787 ended, Mrs. Powel of Philadelphia asked Benjamin Franklin, “Well, Doctor, what have we got, a republic or a monarchy?” With no hesitation whatsoever, Franklin responded, “A republic, if you can keep it.”

 

Background Articles and Videos

Rush Limbaugh – Call Congress BarackHatesThis.com 3/19/10

Day of defiance: Nationwide protests as Slaughter House rushes through Demcare

By Michelle Malkin  •  March 20, 2010

“…Nancy Pelosi’s Slaughter House convenes at 9am. The chaplain opened with a prayer that had this line: “Shield us with your Holy Spirit, Lord…and drive away all that is evil.”

Amen to that.

On the West Lawn of the Capitol, Tea Party protesters and health care takeover opponents meet at high noon to raise their voices against the rotten policy and rotten process that has led us to this foul moment.

Americans will also gather at demonstrations nationwide to show their disgust and disapproval of the corruption, coercion, and Constitution-butchering.

I’ll post as many reader notices, photos, etc. from across the country as I can. Kicking off the rundown: …”

http://michellemalkin.com/2010/03/20/day-of-defiance-nationwide-protests-as-slaughter-house-rushes-through-demcare/

Medical Revolt Over Obamacare?

States Too Broke for Obama-Care?

Ron Paul: Great Health Care Interview With CNN John King

Ronald Reagan speaks out on Socialized Medicine – Audio

Milton Friedman – Socialized Medicine

Milton Friedman – Healthcare, 3rd Party Payer

Thomas Sowell – Obama’s Health Care Reform

Williams with Sowell – Government-Run Health Care

IWV discusses Health Care Poll on Fox News

 Americans Oppose Health-Care Reform

Bret Baier Interviews Obama Part 1/2

Bret Baier Interviews Obama Part 2/2

Dr. Tom Coburn (R-OK) Delivers Weekly Republican Address on Health Care

 

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Services Employee International Union (SEIU)

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Senator Tom Coburn Makes The Progressive Radical Socialists Read Their Socialized Medicine Amendment to Health Care Bill!–Three Cheers–Kill The Bill!

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The Arrogance of President Obama: Hectoring Habitual Liar

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Milton Friedman–Free To Choose–On Donahue –Videos

Posted on February 9, 2010. Filed under: Blogroll, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Rants, Raves, Regulations, Resources, Video, Wisdom | Tags: , , , , , |

 

“I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it’s possible. “

“There’s no such thing as a free lunch. “

~Milton Friedman

Milton Friedman on Donahue 1980 (1/5)

Milton Friedman on Donahue 1980 (2/5)

Milton Friedman on Donahue 1980 (3/5)

Milton Friedman on Donahue 1980 (4/5)

Milton Friedman on Donahue 1980 (5/5)

“History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition. “

“The government solution to a problem is usually as bad as the problem.”

~Milton Friedman

 

Background Articles and Videos

Milton Friedman

“…Milton Friedman (July 31, 1912  – November 16, 2006) was an American economist, statistician, and a recipient of the Nobel Memorial Prize in Economics. He is best known among scholars for his theoretical and empirical research, especially consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.[1] He was an economic advisor to U.S. President Ronald Reagan. Over time, many governments practiced his restatement of a political philosophy that extolled the virtues of a free market economic system with little intervention by government. As a professor of the Chicago School of Economics, based at the University of Chicago, he had great influence in determining the research agenda of the entire profession. Friedman’s many monographs, books, scholarly articles, papers, magazine columns, television programs, videos and lectures cover a broad range of topics of microeconomics, macroeconomics, economic history, and public policy issues. The Economist magazine praised him as “the most influential economist of the second half of the 20th century…possibly of all of it”.[2]

Originally a Keynesian supporter of the New Deal and advocate of government intervention in the economy, during the 1950s his reinterpretation of the Keynesian consumption function challenged the basic Keynesian model. At the University of Chicago, Friedman became the main advocate for opposing Keynesianism.[3] During the 1960s he promoted an alternative macroeconomic policy known as “monetarism”. He theorized there existed a “natural rate of unemployment” and he argued the central government could not micromanage the economy because people would realize what the government was doing and change their behavior to neutralize such policies. He rejected the Phillips Curve and predicted that Keynesian policies then existing would cause “stagflation” (high inflation and minimal growth).[4] Friedman’s claim that monetary policy could have prevented the Great Depression was an attempt to refute the analysis of Keynes, who argued that monetary policy is ineffective during depression conditions and that fiscal policy — large-scale deficit spending by the government — is needed to decrease mass unemployment. Though opposed to the existence of the Federal Reserve, Friedman argued that, given that it does exist, a steady expansion of the money supply was the only wise policy, and he warned against efforts by a treasury or central bank to do otherwise.

Influenced by his close friend George Stigler, Friedman opposed government regulation of many types. He once stated that his role in eliminating U.S. conscription was his proudest accomplishment, and his support for school choice led him to found The Friedman Foundation for Educational Choice. Friedman’s political philosophy, which he considered classically liberal and libertarian, emphasized the advantages of free market economics and the disadvantages of government intervention and regulation, strongly influencing the opinions of American conservatives and libertarians. In his 1962 book Capitalism and Freedom, Friedman advocated policies such as a volunteer military, freely floating exchange rates, abolition of licensing of doctors, a negative income tax, and education vouchers.[5] His books and essays were well read and were even circulated illegally in Communist countries.[6][7]

Friedman’s methodological innovations held wide acceptance among economists, but some considered his policy prescriptions controversial. Most economists during the 1960s rejected them, but since then they have had an increasing international influence (especially in the USA and Britain). Some of his laissez-faire ideas concerning monetary policy, taxation, privatization and deregulation were used by governments,[8] especially during the 1980s. His monetary theory has had a large influence on economists such as Ben Bernanke and the Federal Reserve’s response to the financial crisis of 2007-2010.[9][10]

…”

http://en.wikipedia.org/wiki/Milton_Friedman

Free To Choose

“…Free to Choose: A Personal Statement maintains that the free market works best for all member of a society, claims to provide examples of how the market works, and maintains that it can solve problems where other approaches have failed. Published in January 1980, the 297 page book contains 10 chapters dealing with issues such as:

  • The misuse of Federal Reserve powers during the Great Depression,
  • The decline of personal freedoms, and
  • Government spending and economic controls.

Milton Friedman won the Nobel Memorial Prize in Economics in 1976. Contrary to normal practice the book was written after the TV series was produced, although the line “Basis for the acclaimed public television triumph” is written on the front cover, using the program transcripts as reference. The book was on the United States best sellers list for 5 weeks.

PBS telecast the series, beginning in January 1980; the general format was that of Dr. Friedman visiting and narrating a number of success and failure stories in history, which Dr. Friedman attributes to capitalism or the lack thereof (e.g. Hong Kong is commended for its free markets, while India is excoriated for relying on centralized planning especially for its protection of its traditional textile industry). Following the primary show, Dr. Friedman would engage in discussion with a number of selected persons, such as Donald Rumsfeld (then of G.D. Searle & Company).

The series was rebroadcast in 1990 with Linda Chavez moderating the episodes. Arnold Schwarzenegger, Ronald Reagan, Steve Allen and others give personal introductions for each episode in the series. This time, after the documentary part, Friedman sits down with a single opponent to debate the issues raised in the episode.

The Friedmans advocate laissez faire economic policies, often criticizing interventionist government policies and their cost in personal freedoms and economic efficiency in the United States and abroad. Areas of focus include government taxation on gas and tobacco, government regulation of the public school systems, and the Federal Reserve’s role in exacerbating the Great Depression by reducing the money supply in the years leading up to it. On the subject of welfare, the Friedmans argue that current welfare practices are creating “wards of the state”, as opposed to “self-reliant individuals”, and suggest a negative income tax as a less harmful alternative. Other ideas covered are: decriminalization of drugs, tighter control of Fed money supply, and the repeal of laws favoring labor unions …”

http://en.wikipedia.org/wiki/Free_to_Choose

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Murray Rothbard–Libertarianism–Video

Posted on January 22, 2010. Filed under: Blogroll, Culture, Economics, Education, Employment, Fiscal Policy, Foreign Policy, government spending, Health Care, Immigration, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Resources, Taxes, Video, Wisdom | Tags: , , , |

Murray N. Rothbard: Libertarianism

Background Articles and Videos

Introduction to Libertarianism by Walter Block Part 1/7

Introduction to Libertarianism by Walter Block Part 2/7

Introduction to Libertarianism by Walter Block Part 3/7

Introduction to Libertarianism by Walter Block Part 4/7

Introduction to Libertarianism by Walter Block Part 5/7

Introduction to Libertarianism by Walter Block Part 6/7

Introduction to Libertarianism by Walter Block Part 7/7

Milton Friedman on Libertarianism (Part 1 of 4)

Milton Friedman on Libertarianism (Part 2 of 4)

Milton Friedman on Libertarianism (Part 3 of 4)

 

Milton Friedman on Libertarianism (Part 4 of 4)

 

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Henry Hazlitt–Economics In One Lesson–Videos

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Walter Block–Introduction To Libertarianism–Videos

Posted on January 22, 2010. Filed under: Blogroll, Communications, Economics, Education, Employment, Fiscal Policy, Foreign Policy, government spending, Health Care, Immigration, Investments, Language, Law, liberty, Life, Links, media, Medicine, Monetary Policy, Music, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Resources, Video, Wisdom | Tags: , , , |

Introduction to Libertarianism by Walter Block Part 1/7

Introduction to Libertarianism by Walter Block Part 2/7

Introduction to Libertarianism by Walter Block Part 3/7

Introduction to Libertarianism by Walter Block Part 4/7

Introduction to Libertarianism by Walter Block Part 5/7

Introduction to Libertarianism by Walter Block Part 6/7

Introduction to Libertarianism by Walter Block Part 7/7

Background Articles and Videos

Milton Friedman on Libertarianism (Part 1 of 4)

Milton Friedman on Libertarianism (Part 2 of 4)

Milton Friedman on Libertarianism (Part 3 of 4)

Milton Friedman on Libertarianism (Part 4 of 4)

Murray N. Rothbard: Libertarianism


 

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Amity Shlaes–Videos

Julian Simon–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Read Full Post | Make a Comment ( None so far )

Obama’s Economic Policies of Bailouts, Stimulus Packages, Political Payoffs and Higher Minimum Wages Results In Higher Unemployment Rates For Teenagers, Blacks and Hispanics–Over 26 Million Americans Seeking Full Time Employment!–More Than Double The Worse Month of Great Depression!

Posted on January 8, 2010. Filed under: Blogroll, Communications, Computers, Demographics, Economics, Education, Employment, Fiscal Policy, Health Care, history, Law, liberty, Life, Links, media, Taxes, Video, Wisdom | Tags: , , , , , , , , , , |

Glenn Beck Show – January 11, 2010 part 1

85,000 Jobs Lost in December

White House: Job Growth Coming by Spring

Romer Says President Obama to Do More to Create Jobs: Video

http://www.youtube.com/watch?v=XYv1J0OHo1E

 

Pr. Obama: Jobs, Economy, Slipping American Competitiveness

Peter Van Doren on ‘Green Jobs’

Myth of Green jobs -All Pain No Gain

Mint.com shows us real unemployment rate with “Are You Unemployed”

 

John Stossel–One year later, a green jobs factory outsources it’s jobs overseas to China


 

Leo Hindery: True U.S Unemployment Rate Is About 20%

 

Barrington Says `Bottom’ in Jobs Market to Continue: Video

http://www.youtube.com/watch?v=qSkZxrYwlOI

 

 Zentner Discusses Outlook for U.S. Manufacturing Jobs: Video

http://www.youtube.com/watch?v=7LErzKXi6w0

 

Solis Says U.S. Needs to `Work Harder’ to Create Jobs: Video

http://www.youtube.com/watch?v=24CnwKIH66g 

 

Good Intentions 2of3 Minimum Wage, Licensing, and Labor Laws with Walter Williams

 

Good Intentions 3of3 The Welfare System and Conclusions with Walter Williams

Obama & Minimum Wage — Part 1

Obama & Minimum Wage — Part 2

Milton Friedman on Minimum Wage

 

`Peter Schiff: Capitalism 101 Minimum Wage


 

The  news television stations were all announcing that the the official unemployment rate or U-3 for December 2009 remained unchanged from November 2009 at 10.0%.

Few mentioned that this represents over 15.3 million Americans seeking a full time job more than during the worse month of the Great Depression in March 1933 when over 13 million Americans were seeking full time jobs.

 

Labor Force Statistics from the Current Population Survey

http://data.bls.gov/cgi-bin/surveymost

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1999 4.3 4.4 4.2 4.3 4.2 4.3 4.3 4.2 4.2 4.1 4.1 4.0  
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9  
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7  
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0  
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7  
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4  
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9  
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4  
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.6 4.6 4.7 4.7 4.7 5.0  
2008 5.0 4.8 5.1 5.0 5.4 5.5 5.8 6.1 6.2 6.6 6.9 7.4  
2009 7.7 8.2 8.6 8.9 9.4 9.5 9.4 9.7 9.8 10.1 10.0 10.0

 

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1999 5976 6111 5783 6004 5796 5951 6025 5838 5915 5778 5716 5653  
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634  
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258  
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640  
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317  
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934  
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279  
2006 7059 7185 7075 7122 6977 6998 7154 7097 6853 6728 6883 6784  
2007 7085 6898 6725 6845 6765 6966 7113 7096 7200 7273 7284 7696  
2008 7628 7435 7793 7631 8397 8560 8895 9509 9569 10172 10617 11400  
2009 11919 12714 13310 13816 14518 14721 14534 14993 15159 15612 15340 15267  

 

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1999 7.7 7.7 7.6 7.6 7.4 7.5 7.5 7.3 7.4 7.2 7.1 7.1  
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9  
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6  
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8  
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8  
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2  
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6  
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 8.0  
2007 8.3 8.1 8.0 8.2 8.2 8.2 8.3 8.5 8.4 8.4 8.5 8.8  
2008 9.1 8.9 9.0 9.2 9.7 10.0 10.5 10.9 11.2 11.9 12.8 13.7  
2009 14.0 15.0 15.6 15.8 16.4 16.5 16.4 16.8 17.0 17.4 17.2 17.3  

 

The real unemployment rate or U-6 actually increased slightly in December 2009 to 17.3%. 

The rate of 17.3% multiplied by the number of workers in the civilian work force, 153,059,000, means that over 26 million Americans were seeking full time jobs.

This is more than double the number of unemployed Americans seeking full time jobs during the worse month of the Great Depression, March, 1933!

The civilian labor force was also reduced from 153,720,000 in November 2009 to 153,059,000.

This means that over 661,000 Americans left the labor force in just one month!

In December 2008 the civilian labor force was 154,587,000 compared with 153,059,000 in December 2009.

In just one year over 1,528,000 Americans have left the civilian labor force. 

Did they really leave the civilian labor force?

While the civilian labor force does fluctuate from month to month as people enter and leave the civilian for various reasons, I suspect that progressive radical socialists at the Department of Labor and the White House have been manupulating the data to keep the unemployment rate down.

I strongly suspect that at least half of the reduction in the labor force is due to such political manipulation to get the official unemployment rate down or even decrease it.

This is especially true if President Obama has an event or speech where he wants to show progress in the employment situation.

The unemployment rates for teenagers, blacks and hispanics all  significantly rose in December 2010. 

Obamacare Punishes the Young

For teenagers age 16 through 19 the unemployment rate in December 2008 was 20.8% compared with the December 2009 unemployment rate of 27.2%.

For blacks the unemployment rate in December 2008 was 12.1% compared with the December 2009 unemployment rate of 16.2%.

For hispanics the unemployoment rate in December 2008 was 9.4% compared with the December 2009 unemployment rate of 12.9%. 

Series Id:           LNS14000012
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - 16-19 yrs.
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 to 19 years
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1999 15.2 13.9 14.2 14.2 13.3 13.9 13.4 13.3 14.8 13.8 13.9 13.4  
2000 12.7 13.8 13.3 12.6 12.8 12.3 13.4 14.0 13.0 12.8 13.0 13.2  
2001 13.8 13.7 13.8 13.9 13.4 14.2 14.4 15.6 15.2 16.0 15.9 17.0  
2002 16.5 16.0 16.6 16.7 16.6 16.7 16.8 17.0 16.3 15.1 17.1 16.9  
2003 17.2 17.2 17.8 17.7 17.9 19.0 18.2 16.6 17.6 17.2 15.7 16.2  
2004 17.0 16.5 16.8 16.6 17.1 17.0 17.8 16.7 16.6 17.4 16.4 17.6  
2005 16.2 17.5 17.1 17.8 17.8 16.3 16.1 16.1 15.5 16.1 17.0 14.9  
2006 15.2 15.3 16.1 14.6 14.0 15.7 15.9 16.1 16.3 15.2 14.9 14.7  
2007 14.8 14.9 14.9 15.6 15.9 16.2 15.3 16.0 16.0 15.5 16.2 16.9  
2008 17.8 16.5 16.0 15.6 18.9 19.0 20.8 18.9 19.3 20.3 20.3 20.8  
2009 20.9 21.8 22.0 21.8 23.2 24.3 24.5 25.7 26.1 27.6 26.8 27.1  

 

Series Id:           LNS14000006
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - Black or African American
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Race:                Black or African American
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1999 7.8 8.2 8.0 7.8 7.4 7.7 8.7 7.7 8.5 8.4 8.0 7.8  
2000 8.2 8.1 7.4 7.0 7.7 7.8 7.7 7.9 7.3 7.3 7.3 7.4  
2001 8.2 7.7 8.3 8.0 7.9 8.3 8.0 9.1 8.9 9.5 9.8 10.1  
2002 10.0 9.9 10.5 10.7 10.2 10.5 9.8 9.8 9.7 9.8 10.7 11.3  
2003 10.5 10.7 10.3 10.9 10.9 11.5 10.9 10.9 11.1 11.4 10.2 10.1  
2004 10.4 9.7 10.3 9.8 10.1 10.2 11.0 10.5 10.3 10.8 10.7 10.7  
2005 10.6 10.9 10.5 10.3 10.1 10.2 9.2 9.7 9.4 9.1 10.6 9.2  
2006 8.9 9.4 9.5 9.4 8.7 8.8 9.5 8.8 9.0 8.5 8.6 8.3  
2007 8.0 8.0 8.3 8.3 8.3 8.4 8.0 7.7 8.1 8.5 8.5 9.0  
2008 9.2 8.3 9.1 8.6 9.6 9.4 9.9 10.8 11.4 11.3 11.5 12.1  
2009 12.8 13.5 13.5 15.0 15.0 14.8 14.7 15.2 15.5 15.7 15.6 16.2

 

Series Id:           LNS14000009
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - Hispanic or Latino
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over
Ethnic origin:       Hispanic or Latino
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1999 6.7 6.7 5.8 7.0 6.7 6.6 6.5 6.5 6.7 6.4 6.0 5.8  
2000 5.6 5.7 6.1 5.5 5.8 5.6 5.8 5.9 5.8 5.1 6.0 5.7  
2001 5.8 6.1 6.2 6.4 6.3 6.6 6.2 6.5 6.7 7.1 7.3 7.7  
2002 7.8 7.0 7.5 8.0 7.1 7.4 7.4 7.5 7.4 7.9 7.8 7.9  
2003 7.9 7.6 7.8 7.6 8.1 8.4 8.1 7.7 7.3 7.4 7.5 6.6  
2004 7.4 7.4 7.5 7.1 7.0 6.6 6.9 6.8 6.9 6.7 6.7 6.5  
2005 6.2 6.4 5.8 6.4 5.9 5.7 5.5 5.8 6.5 5.9 6.2 6.1  
2006 5.7 5.5 5.2 5.3 4.9 5.2 5.2 5.3 5.5 4.7 5.1 5.0  
2007 5.7 5.2 5.1 5.4 5.8 5.6 5.9 5.5 5.8 5.6 5.8 6.3  
2008 6.4 6.2 6.9 6.9 6.9 7.7 7.5 8.0 8.0 8.9 8.8 9.4  
2009 9.9 11.0 11.6 11.4 12.7 12.3 12.4 13.0 12.7 13.1 12.7 12.9  

 Government intervention in the free market economy is resulting in massive unemployment of the American people.

The free market has not failed, the Federal Government led by President Obama and the Progressive Radical Socialists in Congress and the Senate have failed the American people.

The young, blacks and hispanics are slow waking up to the fact that Obama and the Progressive Radical Socialists could care less that they are unemployed.

President Obama is what Bill Gates would call a dilettante when it comes to economic policy.

Actually he is just an incompetent progressive radical socialist.

President Obama’s green jobs nonsense reminds me of Roosevelt’s TVA and will have the same economic results.

Both Presidents were clueless as to economics and job creation and were notorious habitual liars.

MAJOR REDUCTIONS IN CARBON EMISSIONS ARE NOT WORTH THE MONEY DEBATE: PETER HUBER

The American people are slowly but surely turning him off and no longer trust or believe a word President Obama says.

Join the Second American to stop Progressive Radical Socialists and their government interventionist economic pollicies that destroy jobs, wreck the economy and turn the American Dream into a nightmare.

The great Thomas Sowell talks about Obama-nomics

 

Thomas Sowell – Obama’s Vision

Background Articles and Videos

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

Eight Reasons Why Big Government Hurts Economic Growth

Economy loses 85K jobs as employers remain wary

Employers cut more jobs than expected in December, unemployment rate holds at 10 percent

By Christopher S. Rugaber, AP Economics Writer , On Friday January 8, 2010, 12:50 pm

“…Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 net jobs in December even as the unemployment rate held at 10 percent. The rate would have been higher if more people had been looking for work instead of leaving the labor force because they can’t find jobs.

The sharp drop in the work force — 661,000 fewer people — showed that more of the jobless are giving up. Once people stop looking for jobs, they’re no longer counted among the unemployed.

When discouraged workers and part-time workers who would prefer full-time jobs are included, the so-called “underemployment” rate in December rose to 17.3 percent, from 17.2 percent in November. That’s just below a revised figure of 17.4 percent in October, the highest on records dating from 1994. …”

http://finance.yahoo.com/news/Economy-loses-more-jobs-apf-2245188994.html?x=0&.v=8

Employment Situation Summary

Transmission of material in this release is embargoed            USDL-09-1583
until 8:30 a.m. (EST) Friday, January 8, 2010

Technical information:
 Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:         (202) 691-5902  *  PressOffice@bls.gov

                     THE EMPLOYMENT SITUATION -- DECEMBER 2009

Nonfarm payroll employment edged down (-85,000) in December, and the unem-
ployment rate was unchanged at 10.0 percent, the U.S. Bureau of Labor Statis-
tics reported today. Employment fell in construction, manufacturing, and
wholesale trade, while temporary help services and health care added jobs.

Household Survey Data

In December, both the number of unemployed persons, at 15.3 million, and the
unemployment rate, at 10.0 percent, were unchanged. At the start of the re-
cession in December 2007, the number of unemployed persons was 7.7 million,
and the unemployment rate was 5.0 percent. (See table A-1.)

    ----------------------------------------------------------------------
   |                                                                      |
   |         Revision of Seasonally Adjusted Household Survey Data        |
   |                                                                      |
   |Seasonally adjusted household survey data have been revised using up- |
   |dated seasonal adjustment factors, a procedure done at the end of each|
   |calendar year. Seasonally adjusted estimates back to January 2005 were|
   |subject to revision. The unemployment rates for January 2009 through  |
   |November 2009 (as originally published and as revised) appear in      |
   |table B, along with additional information about the revisions.       |
   |                                                                      |
    ----------------------------------------------------------------------

Unemployment rates for the major worker groups--adult men (10.2 percent),
adult women (8.2 percent), teenagers (27.1 percent), whites (9.0 percent),
blacks (16.2 percent), and Hispanics (12.9 percent)--showed little change in
December. The unemployment rate for Asians was 8.4 percent, not seasonally
adjusted. (See tables A-1, A-2, and A-3.)

Among the unemployed, the number of long-term unemployed (those jobless for 27
weeks and over) continued to trend up, reaching 6.1 million. In December, 4 in
10 unemployed workers were jobless for 27 weeks or longer. (See table A-9.)

The civilian labor force participation rate fell to 64.6 percent in December.
The employment-population ratio declined to 58.2 percent. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes re-
ferred to as involuntary part-time workers) was about unchanged at 9.2 million
in December and has been relatively flat since March. These individuals were
working part time because their hours had been cut back or because they were
unable to find a full-time job. (See table A-5.)

About 2.5 million persons were marginally attached to the labor force in
December, an increase of 578,000 from a year earlier. (The data are not sea-
sonally adjusted.) These individuals were not in the labor force, wanted and
were available for work, and had looked for a job sometime in the prior 12
months. They were not counted as unemployed because they had not searched for
work in the 4 weeks preceding the survey. (See table A-13.)

Among the marginally attached, there were 929,000 discouraged workers in
December, up from 642,000 a year earlier. (The data are not seasonally ad-
justed.) Discouraged workers are persons not currently looking for work be-
cause they believe no jobs are available for them. The remaining 1.6 million
persons marginally attached to the labor force had not searched for work in
the 4 weeks preceding the survey for reasons such as school attendance or
family responsibilities.

Establishment Survey Data

Total nonfarm payroll employment edged down in December (-85,000). Job losses
continued in construction, manufacturing, and wholesale trade, while temporary
help services and health care continued to add jobs. During 2009, monthly job
losses moderated substantially. Employment losses in the first quarter of 2009
averaged 691,000 per month, compared with an average loss of 69,000 per month
in the fourth quarter. (See table B-1.)

Construction employment declined by 53,000 in December, with job losses
throughout the industry. Employment in construction has fallen by 1.6 mil-
lion since the recession began.

In December, employment in manufacturing decreased by 27,000. The average
monthly decline for the last 6 months of 2009 (-41,000) was much lower than
the average monthly decline for the first half of the year (-171,000). Since
the recession began, manufacturing employment has fallen by 2.1 million; three-
fourths of this drop occurred in the durable goods component (-1.6 million).

Wholesale trade employment declined by 18,000 in December, with the majority of
the decline occurring among durable goods wholesalers. Employment in retail
trade was little changed over the month, although general merchandise stores
lost 15,000 jobs.

Temporary help services added 47,000 jobs in December. Since reaching a low
point in July, temporary help services employment has risen by 166,000.

Health care employment continued to increase in December (22,000), with notable
gains in offices of physicians (9,000) and home health care services (8,000).
The health care industry has added 631,000 jobs since the recession began.

In December, the average workweek for production and nonsupervisory workers on
private nonfarm payrolls was unchanged at 33.2 hours. The manufacturing work-
week, at 40.4 hours, and factory overtime, at 3.4 hours, were unchanged over
the month. Since May, the manufacturing workweek has increased by 1.0 hour.
(See table B-2.)

In December, average hourly earnings of production and nonsupervisory workers
on private nonfarm payrolls rose by 3 cents, or 0.2 percent, to $18.80. Over
the past 12 months, average hourly earnings have risen by 2.2 percent, while
average weekly earnings have risen by 1.9 percent. (See table B-3.)

The change in total nonfarm payroll employment for October was revised from
-111,000 to -127,000, and the change for November was revised from -11,000 to
+4,000.
_____________
The Employment Situation for January is scheduled to be released on Friday,
February 5, 2010, at 8:30 a.m. (EST).
http://www.bls.gov/news.release/empsit.nr0.htm

Milton Friedman & Walter Williams On Workers Rights 1/3

Milton Friedman & Walter Williams On Workers Rights 2/3

Milton Friedman & Walter Williams On Workers Rights 3/3

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Milton Friedman–Debate In Iceland–Videos

Posted on January 7, 2010. Filed under: Blogroll, Economics, Education, Employment, Fiscal Policy, government spending, Investments, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Regulations, Taxes, Video, Wisdom | Tags: , , , |

Milton Friedman – Iceland 1 of 8

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