The Unions and Progressive Radical Socialists Plans To Bring Down Capitalism and Redistribute The Wealth In The United States–Videoes

Posted on March 23, 2011. Filed under: American History, Banking, Blogroll, Communications, Demographics, Diasters, Economics, Employment, European History, Federal Government, Fiscal Policy, government spending, history, Law, liberty, Life, Links, Monetary Policy, Money, Private Sector, Public Sector, Strategy, Union, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , |

U.S. Debt Clock

http://www.usdebtclock.org/

 

Financial Terrorism in America

Glenn Beck-03/23/11-A

 

Glenn Beck-03/23/11-B

 

Glenn Beck-03/23/11-C

 

CAUGHT ON TAPE: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan, Crash The Stock Market, And Redistribute Wealth In America

“…Here are the key remarks:

Unions are almost dead. We cannot survive doing what we do but the simple fact of the matter is community organizations are almost dead also. And if you think about what we need to do it may give us some direction which is essentially what the folks that are in charge – the big banks and everything – what they want is stability.

There are actually extraordinary things we could do right now to start to destabilize the folks that are in power and start to rebuild a movement.

For example, 10% of homeowners are underwater right their home they are paying more for it then its worth 10% of those people are in strategic default, meaning they are refusing to pay but they are staying in their home that’s totally spontaneous they figured out it takes a year to kick me out of my home because foreclosure is backed up

If you could double that number you would  you could put banks at the edge of insolvency again.

Students have a trillion dollar debt

We have an entire economy that is built on debt and banks so the question would be what would happen if we organized homeowners in mass to do a mortgage strike if we get half a million people to agree  it would literally cause a new finical crisis for the banks not for us we would be doing quite well  we wouldn’t be paying anything…

We have to think much more creatively. The key thing… What does the other side fear the most – they fear disruption. They fear uncertainty. Every article about Europe says in they rioted in Greece the markets went down

The folks that control this country care about one thing how the stock market goes what the bond market does how the bonuses goes. We have a very simple strategy:

  • How do we bring down the stock market
  • How do we bring down their bonuses
  • How do we interfere with there ability to be rich…

So a bunch of us around the country think who would be a really good company to hate we decided that would be JP Morgan Chase  and so we are going to roll out over the next couple of months what would hopefully be an exciting campaign about JP Morgan Chase that is really about challenge the power of Wall Street.

And so what we are looking at is the first week in May can we get enough people together starting now to really have an week of action in New York I don’t want to give any details because I don’t know if there are any police agents in the room.

The goal would be that we will roll out of New York the first week of May. We will connect three ideas

  • that we are not broke there is plenty of money
  • they have the money  – we need to get it back
  • and that they are using Bloomberg and other people in government as the vehicle to try and  destroy us

And so we need to take on those folks at the same time. And that we will start here we are going to look at a week of civil disobedience – direct action all over the city. Then roll into the JP Morgan shareholder meeting which they moved out of New York because I guess they were afraid because of Columbus.

There is going to be a ten state mobilization to try and shut down that meeting and then looking at bank shareholder meetings around the country and try and create some moments like Madison except where we are on offense instead of defense

Where we have brave and heroic battles challenging the power of the giant corporations. We hope to inspire a much bigger movement about redistributing wealth and power in the country and that labor can’t do itself that community groups can’t do themselves but maybe we can work something new and different that can be brave enough  and daring and nimble enough to do that kind of thing.

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Senator Tom Coburn and Representative Ron Paul On The Bureaucratic Beast’s Bloated Budgets, Bankruptcy and Beltway Bandits–Videos

Posted on March 16, 2011. Filed under: American History, Banking, Blogroll, Communications, Demographics, Economics, Employment, Energy, Federal Government, Fiscal Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, media, Medicine, Monetary Policy, Money, Nuclear Power, People, Philosophy, Politics, Public Sector, Rants, Raves, Regulations, Religion, Resources, Science, Security, Talk Radio, Taxes, Technology, Unions, Video, Wealth, Wisdom | Tags: , , , , , , , , , |

Senator Tom Coburn on The US Budget, Austerity, Hyperinflation, and America’s Future

Dr. Coburn & Dylan Ratigan discuss the new GAO report exposing duplication & waste

 

Washington Journal (pt. 1)

 

Washington Journal (pt. 2)

 

Washington Journal (pt. 3)

 

Dr. Coburn explains the serious long-term implications we face if we don’t cut spending pt.1

 

Ron Paul: The Country Is Bankrupt and Congress Won’t Admit It

 

Ron Paul on the Need to Cut Spending

 

 CNN: Ron Paul: Spending ‘out of control’

 

Ron Paul: Fall of the Federal Empire 

 

Ron Paul: What If the Fed Couldn’t Buy Government Debt?

 

Ron Paul: The Best Income Tax Rate is 0%

 

Ron Paul on Taxes

 

Should either Senator Tom Coburn or Representative Ron Paul decide to run for President in 2012 they would receive my support and vote for they are among a small group of Senators and Representatives who understand the problem and know what needs to be done.

It is interesting that both are medical doctors.

My suggestion to them is as follows: 

First, start cutting discretionary spending not program by program but department by department before you even consider cutting mandatory entitlement spending such as Social Security, Medicare and Medicaid.

Milton Friedman on Libertarianism (Part 4 of 4)

Time to permanently shut down and abolish eleven Federal Departments including:

1. Department of Agriculture

2. Department of Commerce

3. Deparment of Education

4. Department of Energy

5. Department of Health and Human Resources

6. Department of Homeland Security

7. Department of Housing and Urban Development

8. Department of Labor

9. Department of Interior

10. Department of Transportation

11. Department of Veteran Affairs.

Second replace all Federal taxes with the FairTax:

The FairTax: It’s Time

Third, balance the budget and pass a balance budget rule and Constitutional Amendment that limits annual Federal Government spending to 80% of prior FairTax revenue collections with the remaining 20% used to pay down the national debt.

Fourth, reform Social Security and Medicare so the individual owns and controls his or her  Social Security account and health insurance plan not the Federal Government.

Time is running out.

The rate of interest on Federal Treasury securities will in the next three years rise back to its historical average of about 6% as a direct result of rising inflation.

Once this happens the interest on the national debt will limit Federal Government spending.

Either Senator Coburn or Representative Paul must soon decide whether they will run for President.

I encourage both to seriously consider running.

 

Background Articles and Videos

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

Quantitative Easing Explained

Peter Schiff – How the Government can Avoid Default 1-3-2011

Peter Schiff Video Blog – March 4, 2011

Peter Schiff and Marc Faber on CNBC 8/23/10: Time to Flee U.S. Treasuries!

 

Peter Schiff Video Blog – March 15, 2011

 

PIMCO Dumps US Treasuries

Pimco’s Bill Gross on Bloomberg Television

 

 

Billions in Bloat Uncovered in Beltway

“…A report from the nonpartisan GAO, to be released Tuesday, compiles a list of redundant and potentially ineffective federal programs, and it could serve as a template for lawmakers in both parties as they move to cut federal spending and consolidate programs to reduce the deficit. Sen. Tom Coburn (R., Okla.), who pushed for the report, estimated it identifies between $100 billion and $200 billion in duplicative spending. The GAO didn’t put a specific figure on the spending overlap. …”

http://online.wsj.com/article/SB10001424052748703749504576172942399165436.html?mod=WSJ_hp_LEFTTopStories

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Senator Coburn Educates The Educated Fools aka Progressive Radical Socialists Who Cannot Write, Read, Or Understand The Health Care Bill or Competitive Markets!

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

Obama’s Trick On The American People: Health Insurance Reform=Huge Hikes in Taxes and Premiums for Health Insurance and Massive Medicare Funding and Payment Reimbursement Cuts–Congressional Coercion–It’s Alive!

Republican Health Care Reform: The Patients’ Choice Act

Medical Doctor and Senator Tom Coburn On Health Care–Videos

The Senate Doctors Show–Videos

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The Ascent of Money–Videos

Posted on June 23, 2010. Filed under: Blogroll, Communications, Economics, Employment, Fiscal Policy, government, Investments, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Regulations, Sports, Technology, Video, Wisdom | Tags: , , , , , , , , , , |

Money Part 1

 

Money Part 2

Money Part 3

Money Part 4

Money Part 5

Background Articles and Videos

 

Niall Ferguson–”The Ascent of Money–Videos 

 

Related Posts On Pronk Palisades

Niall Ferguson–”The Ascent of Money–Videos

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Yaron Brook–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Richard Ebeling–America’s New Road to Serfdom and the Continuing Relevance of Austrian Economics –Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

Robert Higgs–The Complex Path of Ideological Change–Videos

Robert Higgs–The Great Depression and the Current Recession–Videos

Robert Higgs–Why Are Politicians Always Trying to Scare Us?–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Milton Friedman–Debate In Iceland–Videos

Milton Friedman–Free To Choose–On Donahue –Videos

Israel Kirzner–On Entrepreneurship–Vidoes

Liberal Fascism–Jonah Goldberg–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

Robert P. Murphy–Government Stimulus: Repeating the mistakes of the Great Depression–Videos

Gary North–Keynes and His Influence–Take The North Challenge–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Llewellyn H. Rockwell, Jr–How Empires Bamboozle the Bourgeoisie–Videos

Murray Rothbard–Videos

Murray N. Rothbard–Introduction to Economics: A Private Seminar–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Julian Simon–The Ultimate Resource II: People, Materials, and Environment–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Econ Talk With Thomas Sowell–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

Thomas E. Woods–The Market Economy–Videos

Tom Woods On Personal Rights and Property Ownership

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Woods–Who Killed The Constitution

Tom Wright On The FairTax–Videos

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

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The American Crisis: Government Coercion Vs. Consumer Sovereignty Over Health Insurance Plans

Posted on March 22, 2010. Filed under: Blogroll, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, Health Care, Immigration, Investments, Language, Law, liberty, Life, Links, Medicine, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Resources, Science, Security, Strategy, Taxes | Tags: , , , , , , , , , , , , , , , , , |

 

“These are the times that try men’s souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of his country; but he that stands it now, deserves the love and thanks of man and woman. Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph. What we may obtain too cheap, we esteem too lightly: ’tis dearness only that gives everything its value. Heaven knows how to put a proper price upon its goods. It would be strange indeed if so celestial an article as Freedom should not be highly rated. Britain, with an army to enforce her tyranny, has declared that she has a right (not only to tax) but “to bind us in all cases whatsoever,” and if being bound in that manner, is not slavery, then is there not such a thing as slavery upon earth. Even the expression is impious, for so unlimited a power can belong only to God.”  

~Thomas Paine, The American Crisis, No. 1, December 23, 1776 

  

“Capitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters. Socialism means full government control of every sphere of the individuals life and the unrestricted supremacy of the government in its capacity as central board of production management.”  

~Ludwig von Mises, Bureaucracy, page 10

 

The American people will vote out of office all progressive radical socialists of the Democratic Party and Republician Party that limit their freedom and liberty to chose the products and services they want to purchase.

The use of government coercion and taxes to force the American people to buy any good or service is both un-American and unconstitutional.

First, all the Democrats in the House of Representatives should be targeted for defeat in the next election as well as those progressive radical socialist in the Senate that are up for re-election.

Second, vote for only those political candidates that want limited government, surplus budgets, illegal alien removal and deportation, oil and gas exploration, production and refineary construction,  and the FairTax.

Third, support the closing of ten Federal Departments and many government agencies–the downsizing of the bloated Federal  government.

Fourth, stop listening to the lies that every day President Obama tells the American people–he is deliberately trying to wreck the US economy and destroy jobs–and will say and do anything to accomplish his progressive radical socialist agenda. 

President Obama was a big mistake. The mistake will be corrected in November 2012.

Fifth, start a new political party with the objective of replacing the Democratic Party and competeing with the Republican Party that also has progressive radical socialist in many local, state, and national leadership positions.

A New Political Party In The United States? American Citizens Alliance Party–ACAP On Government Spending, Taxes, Debt, and Regulations!

It will take at least  eight years to undue the damage that President Obama and the progressive radical socialist Democratic Party have done to the economy of the United States.

Remember that huge deficits and comprehensivce immigration reform started with the Republican Party and President Bush.

 Only vote for principled conservative and libertarian candidates.

 Vote out of office all the rest.

No more nation building abroad.

Bring the troops home.

Stop the illegal alien invasion of the United States.

This American crisis is an opportunity for American renewal.

When opportunity knocks–open your minds and open the door.

Go on the offensive.  

This is exactly what General George Washington did when he crossed the Delaware and won the Battle of Trenton.

The Battle of Trenton

 

Ron Paul IRS Will Steal More Money To Fund Health Care 

John C. Goodman – Health Care Solutions

 

John C. Goodman – Health-Care Ideas

John C. Goodman – World Congress

John C. Goodman – Final Health Care Bill

The Judge – Abortion Executive Order Smoke And Mirrors

 

 

Capturing the Moral High Ground Part 1/3 Why Only Private Health Care is Moral by Yaron Brook

 

Capturing the Moral High Ground Part 2/3 Why Only Private Health Care is Moral by Yaron Brook

 

Capturing the Moral High Ground Part 3/3 Q & A Why Only Private Health Care is Moral by Yaron Brook

 

  

Health Care Insurance is NOT A RIGHT – Part 1 of 2

 

Health Care Insurance is NOT A RIGHT – Part 2 of 2

 

The Problems With Socialized Government Healthcare

 

Obamacare is illusion of reform

Monday,  March 15, 2010 2:50 AM

By Robert J. Samuelson

“…Unless we change the fee-for-service system, costs will remain hard to control because providers are paid more for doing more. Obama might have attempted that by proposing health-care vouchers (limited amounts to be spent on insurance), which would force a restructuring of delivery systems to compete on quality and cost. Doctors, hospitals and drug companies would have to reorganize care. Obama refrained from that fight and instead cast insurance companies as the villains.

He’s telling people what they want to hear, not what they need to know. Whatever their sins, insurers are mainly intermediaries; they pass along the costs of the delivery system. In 2009, the largest 14 insurers had profits of roughly $9 billion; that approached 0.4 percent of total health spending of $2.472 trillion. This hardly explains high health costs. What people need to know is that Obama’s plan evades health care’s major problems and would worsen the budget outlook. It’s a big new spending program when government hasn’t paid for the spending programs it already has.

“If not now, when? If not us, who?” Obama asks. The answer is: It’s not now, and it’s not “us.” Pass or not, Obama’s proposal is the illusion of “reform,” not the real thing.”

http://www.dispatchpolitics.com/live/content/editorials/stories/2010/03/15/obamacare-is-illusion-of-reform.html?sid=101

Ten GOP Health Ideas for Obama

We don’t need to study lawsuit reform for one minute longer.

 By NEWT GINGRICH AND JOHN C. GOODMAN

“… Make insurance affordable. The current taxation of health insurance is arbitrary and unfair, giving lavish subsidies to some, like those who get Cadillac coverage from their employers, and almost no relief to people who have to buy their own. More equitable tax treatment would lower costs for individuals and families. Many health economists conclude that tax relief for health insurance should be a fixed-dollar amount, independent of the amount of insurance purchased. A step in the right direction would be to give Americans the choice of a generous tax credit or the ability to deduct the value of their health insurance up to a certain amount. 

 

Make health insurance portable. The first step toward genuine portability—and the best way of solving the problems of pre-existing conditions—is to change federal policy. Employers should be encouraged to provide employees with insurance that travels with them from job to job and in and out of the labor market. Also, individuals should have the ability to purchase health insurance across state lines. When insurers compete for consumers, prices will fall and quality will improve. 

Meet the needs of the chronically ill. Most individuals with chronic diseases want to be in charge of their own care. The mother of an asthmatic child, for example, should have a device at home that measures the child’s peak airflow and should be taught when to change his medication, rather than going to the doctor each time. 

Having the ability to obtain and manage more health dollars in Health Savings Accounts is a start. A good model for self-management is the Cash and Counseling program for the homebound disabled under Medicaid. Individuals in this program are able to manage their own budgets and hire and fire the people who provide them with custodial services and medical care. Satisfaction rates approach 100%, according to the Robert Wood Johnson Foundation….” 

“…• Eliminate junk lawsuits. Last year the president pledged to consider civil justice reform. We do not need to study or test medical malpractice any longer: The current system is broken. States across the country—Texas in particular—have already implemented key reforms including liability protection for using health information technology or following clinical standards of care; caps on non-economic damages; loser pays laws; and new alternative dispute resolution where patients get compensated for unexpected, adverse medical outcomes without lawyers, courtrooms, judges and juries.

Stop health-care fraud. Every year up to $120 billion is stolen by criminals who defraud public programs like Medicare and Medicaid, according to the National Health Care Anti-Fraud Association. We can help prevent this by using responsible approaches such as enhanced coordination of benefits, third-party liability verification, and electronic payment.

Make medical breakthroughs accessible to patients. Breakthrough drugs, innovative devices and new therapies to treat rare, complex diseases as well as chronic conditions should be sped to the market. We can do this by cutting red tape before and during review by the Food and Drug Administration and by deploying information technology to monitor the quality of drugs and devices once they reach the marketplace. …”

http://online.wsj.com/article/SB10001424052748704820904575055190217079952.html  

What Is the Free-Market Approach to Health Care Reform?

http://healthcare.cato.org/free-market-approach-health-care-reform

Rothbard’s “Left and Right”: 40 Years Later

 

The Current State of World Affairs

The Future of Austrian Economics

 

The Power of Choice – Milton Friedman

“In spite of the anticapitalistic policies of all governments and of almost all political parties, the capitalist mode of production is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.”

~Ludwig von Mises, Planned Chaos, page 15

 

“The times that tried men’s souls are over-and the greatest and completest revolution the world ever knew, gloriously and happily accomplished.”  

~Thomas Paine, The American Crisis, No. 13, April 19, 1783

 

Background Articles and Videos

The American Crisis

http://libertyonline.hypermall.com/Paine/Crisis/Crisis-TOC.html

TheAmerican Crisis

The American Crisis was a series of pamphlets published from 1776 to 1783 during the American Revolution by eighteenth century Enlightenment philosopher and author Thomas Paine. The first volume begins with the famous words “These are the times that try men’s souls”. There were sixteen pamphlets in total together often known as “The American Crisis” or simply “The Crisis”. Thirteen numbered pamphlets were published between 1776-1777 with three additional pamphlets released between 1777-1783.[1] The writings were contemporaneous with the early parts of the American Revolution, during the times that colonists needed inspiring.

They were written in a language the common man could manage and are indicative of Paine’s liberal philosophies. Paine signed them with one of his many pseudonyms “Common Sense”. The writings bolstered the morale of the American colonists, appealed to the English people’s consideration of the war with America, clarified the issues at stake in the war and denounced the advocates of a negotiated peace. …”

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

 

1/7 – Consumer Sovereignty and the Production Process by Robert P. Murphy

2/7 – Consumer Sovereignty and the Production Process by Robert P. Murphy

3/7 – Consumer Sovereignty and the Production Process by Robert P. Murphy

4/7 – Consumer Sovereignty and the Production Process by Robert P. Murphy

5/7 – Consumer Sovereignty and the Production Process by Robert P. Murphy

6/7 – Consumer Sovereignty and the Production Process by Robert P. Murphy

7/7 – Consumer Sovereignty and the Production Process by Robert P. Murphy

Consumer Sovereignty

“…Consumer sovereignty is a term which is used in economics to refer to the rule or sovereignty of consumers in markets as to production of goods. It is the power of consumers to decide what gets produced. People use the this term to describe the consumer as the “king,” or ruler, of the market, the one who determines what products will be produced. [1] Also, this term denotes the way in which a consumer ideologically chooses to buy a good or service. Furthermore, the term can be used as either a norm (as to what consumers should be permitted) or a description (as to what consumers are permitted).  

In unrestricted markets, those with income or wealth are able to use their purchasing power to motivate producers as what to produce (and how much). Customers do not necessarily have to buy and, if dissatisfied, can take their business elsewhere, while the profit-seeking sellers find that they can make the greatest profit by trying to provide the best possible products for the price (or the lowest possible price for a given product). In the language of cliché, “The one with the gold makes the rules.”  

To most neoclassical economists, complete consumer sovereignty is an ideal rather than a reality because of the existence — or even the ubiquity — of market failure. Some economists of the Chicago school and the Austrian school see consumer sovereignty as a reality in a free market economy without interference from government or other non-market institutions, or anti-market institutions such as monopolies or cartels. That is, alleged market failures are seen as being a result of non-market forces.  

The term “consumer sovereignty” was coined by William Hutt who firstly used it in his 1936 book “Economists and the Public”. …”  

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

Battle of Trenton

“…The Battle of Trenton took place on December 26, 1776, during the American Revolutionary War after General George Washington’s crossing of the Delaware River north of Trenton, New Jersey. The hazardous crossing in adverse weather allowed Washington to lead the main body of the Continental Army against Hessian soldiers garrisoned at Trenton. After a brief struggle, nearly the entire Hessian force was captured, with negligible losses to the Americans. The battle boosted the Continental Army’s flagging morale, and inspired re-enlistments.

The Continental Army had previously suffered several defeats in New York and had been forced to retreat to Pennsylvania via New Jersey. Morale in the army was low; to end the year on a positive note, George Washington—Commander-in-Chief of the Continental Army—devised a plan to cross the Delaware River on Christmas night and surround the Hessian garrison.

Because the river was icy and the weather severe, the crossing proved dangerous. Two of the offensive groups were unable to cross the river, leaving Washington and his 2,400 men alone in the assault. The army marched 9 miles (14 km) south to Trenton. The Hessians had lowered their guard, thinking they were safe from the American army, and did not post a dawn sentry. After having a Christmas feast, they fell asleep. Washington’s forces caught them off guard and, before the Hessians could resist, they were taken prisoner. Almost two thirds of the 1,500-man garrison was captured. A few troops escaped across Assunpink Creek.

Despite the battle’s small numbers, the Americans’ victory inspired rebels in the colonies. With the success of the revolution in doubt a week earlier, the army had seemed on the verge of collapse. This dramatic victory inspired soldiers to serve longer and attracted new recruits to the ranks. …”

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

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The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

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Services Employee International Union (SEIU)

American Citizens Want Jobs and Criminal Alien Removal, Not Criminal Alien Census and Health Care!

Public Option = Government Option = Pathway to Single Payer = Single Payer = Socialized Medicine = Blue Pill = Poison Pill

The American People Confront Obama’s Red Shirts (ACORN) and Purple Shirts (SEIU)–Bullhorns and Beatings Over Obama Care!

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Health Care

Obama’s Big Whopper–”The largest deficit reduction plan in a decade.”–Delusional Deceitful Democrats–Massive Tax Increases and Economy Wrecker–Health Care Bill If Passed Is Unconstitutional!

Senator Coburn Educates The Educated Fools aka Progressive Radical Socialists Who Cannot Write, Read, Or Understand The Health Care Bill or Competitive Markets!

Senator Coburn Educates The Educated Fools aka Progressive Radical Socialists Who Cannot Write, Read, Or Understand The Health Care Bill or Competitive Markets!

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

Progressive Radical Socialist Health Care Plan Written In Prison By Convicted ACORN Felon Richard Creamer!

Obama’s Trick On The American People: Health Insurance Reform=Huge Hikes in Taxes and Premiums for Health Insurance and Massive Medicare Funding and Payment Reimbursement Cuts–Congressional Coercion–It’s Alive!

Second Opinion: Doctors Speak Up On Proposed Health Care Reform–And A Third Texas Opinion!–Videos

American Citizens Want Jobs and Criminal Alien Removal, Not Criminal Alien Census and Health Care!

Illegal Aliens Can Buy Health Insurance Plans–No ID Needed:–Demand Criminal Alien Removal and Deportation!

Congressman Paul Ryan–Townhall Meeting–Health Care Reform and The Patients Choice Act–Videos

The Arrogance of President Obama: Hectoring Habitual Liar

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Public Option = Government Option = Pathway to Single Payer = Single Payer = Socialized Medicine = Blue Pill = Poison Pill

Obama: First We Kill The Babies, Then We Kill The Elderly, Then We Kill The Veterans–Your Life, Your Choices–Your Time Is Up!

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The Dangers Of A Single Payer Health Care System: Ronald Reagan On Socialized Medicine and Friedrich A. Hayek On State Monopoly

The American People Believe The Government Public Option Plan Is The Path To The Single Payer Government Plan–Socialized Medicine–Obama Caught Lying To The American People!

The American People Confront Obama’s Red Shirts (ACORN) and Purple Shirts (SEIU)–Bullhorns and Beatings Over Obama Care!

The Obama Depression Has Arrived: 15,000,000 to 25,000,000 Unemployed Americans–Stimulus Package and Bailouts A Failure–400,000 Leave Labor Force In July!

Obama’s Marching Orders For His Red Shirts (ACORN), Purple Shirts (SEIU) and Black Shirts (New Panther Party)–Progressive Radical Socialists

Health Care Resources

Republican Health Care Reform: The Patients’ Choice Act

Medical Doctor and Senator Tom Coburn On Health Care–Videos

The Senate Doctors Show–Videos

Obama’s Waterloo– Government Compulsory Single Payer Socialized Medicine!–Videos

President Obama’s Plan of Massive Deficit Spending Is Destroying The US Economy–The American People Say Stop Socialism BS Now!

The Bum’s Rush of The American People: The Totally Irresponsible Democratic Party Health Care Bill and Obama’s Big Lie Exposed

Chairman Obama’s Progressive Radical Socialist Health Care Bill Kills Individual Private Health Care Insurance–Join The Second American Revolution!

The Obama Big Lie and Inconvenient Truth About Health Care–The Public Option Trojan Horse–Leads To A Single Payor Goverment Monopoly of Health Care and The Bankruptcy of USA!

The Obama Public Option Poison Pill For A Government Health Care Monopoly–Single Payer System–Betting Your Life and Paying Though The Nose

Government Bureaucracy: Organizational Chart of The House Democrats’ Health Plan

Dr. Robert W. Christensen–Videos

John Stossel–Sick In America–Videos

Congressman Paul Ryan–Townhall Meeting–Health Care Reform and The Patients Choice Act–Videos

The Small Business and Self-Employed Perspective on Health Care Reform

Collectivism: Socialism, Communism, Progressivism and Fascism

The Battle For The World Economy–Videos

Walter Block–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

G. William Domhoff: Who Runs America–Videos

Jonah Goldberg–Liberal Fascism–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

G. Edward Griffin- On Individualism vs. Collectivism–Videos

Mark Levin–Liberty and Tyranny: A Conservative Manifesto–Videos

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Today’s Progressives–Obama’s Radical Socialist Democratic Party

The Racist Test for Judge Sonya Sotomayor and President Obama–Racism Unmasked!

Calling and Raising The Stakes for Race Card Players–Obama and Sotomayor

George Soros: Government Interventionist and Global Socialist–Obama’s Puppeter Master–Videos

George Soros: Barack Obama’s Money Man and Agenda Puppeter

The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

Progressives

Progressive Radical Socialist Health Care Plan Written In Prison By Convicted Felon Richard Creamer!

Obamanomics–New Deal Progressive Radical Socialist Interventionism

Eugenics, Planned Parenthood, Population Control, and Designer Babies–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

The Obama Depression: Lessons Learned–Deja Vu!

Lord Christopher Monckton–Climate Change–Treaty–Videos

Progressive Radical Socialist Canned Criticism of American People: Danger, Profits, and Wrong Thinking

The Battle For The World Economy–Videos

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Obama’s Civilian National Security Force–Youth Corp Wave–Friendly Fascism Faces–Cons–Crooks–Communists–Communities–Corps!

Obama’s Hidden Agenda and Covert Cadre of Marxists, Communists, Progressives, Radicals, Socialists–Far Left Democrats Destroying Capitalism and The American Republic

Yuri Bezmenov On KGB Soviet Propaganda and Subversion–Videos

The Bloody History of Communism–Videos

Obama Youth–Civilian National Security Force–National Socialism–Hitler Youth–Brownshirts– Redux?–Collectivism!

American Progressive Liberal Fascism–The Wave of The Future Or Back To Past Mistakes?

Today’s Progressives–Obama’s Radical Socialist Democratic Party

President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

The Progressive Radical Socialist Family Tree–ACORN & AmeriCorps–Time To Chop It Down

It Is Official–America On The Obama Road To Fascism–Thomas Sowell!

President Obama and His Keynesian Spending Cult of The Fascist Democrat Radicals–FDRs

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Yaron Brook–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Milton Friedman–Debate In Iceland–Videos

Milton Friedman–Free To Choose–On Donahue –Videos

Israel Kirzner–On Entrepreneurship–Vidoes

Liberal Fascism–Jonah Goldberg–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Murray Rothbard–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Julian Simon–The Ultimate Resource II: People, Materials, and Environment–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 On Personal Rights and Property Ownership

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Woods–Who Killed The Constitution

Tom Wright On The FairTax–Videos

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

  

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The Triumph of Capitalism and The Power of Consumer Sovereignty Over Massive Government Failure–Bankruptcy of General Motors–Now Government Motors!

Posted on June 1, 2009. Filed under: Blogroll, Economics, Education, Employment, Energy, liberty, Links, People, Philosophy, Politics, Quotations, Taxes, Technology, Video | Tags: , , , , , , , , , , |

govmo

atlas 

quotable

http://mises.org/quotes.aspx

“Capitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters. Socialism means full government control of every sphere of the individuals life and the unrestricted supremacy of the government in its capacity as central board of production management.”

~Ludwig von Mises, Bureaucracy, page 10

“Capitalism is essentially a system of mass production for the satisfaction of the needs of the masses. It pours a horn of plenty upon the common man. It has raised the average standard of living to a height never dreamed of in earlier ages. It has made accessible to millions of people enjoyments which a few generations ago were only within the reach of a small elite.” 

~Ludwig von Mises, The Anti-Capitalistic Mentality, page 49.

 

Glenn Beck’s ‘One Thing’: 06-01-09

 

Glenn Beck Clips 06-01-09 Jonah Goldberg German Fascists Had a ‘People’s Car’ Too Called Volkswagon


 

 

Henry Ford Bailed out? The Horse and Buggy Industry? – Failure is good for the sole – Glenn Beck

 

 McCotter on Fox News Cavuto Defending GM Workers and Retirees After Bankruptcy

 

President Obama’s prepared remarks on General Motors’ bankruptcy, Part 2 

 

GM files for bankruptcy June 1, 2009

Every day in America thousands of new businesses are started and thousands of failed business are sold or enter bankruptcy.

Today General Motors sought protection from creditors by declaring bankruptcy under Chapter 11 of the United States Bankruptcy Code.

This is how capitalism works.

Resources are reallocated from failing businesses that are losing money for whatever reason to new and growing businesses that are more profitable.

What is different is that the United States government unconsitutionally bailed out both General Motors and Chrysler by providing over 100 billion dollars to both companies.

This despite the fact that the overwhelming majority of the American people opposed the bailouts of both the auto companies and banks!

Stop Spending Our Future – The Crisis

This was President Obama’s politically motivated payoff of the United Automotive Workers (UAW) union for campaign contributions in excess of $25 million and thousands of hours of union worker efforts to elect Barack Obama and the radical socialist of the Democratic Party.

It is not the role or function of the Federal Government to bailout or loan money to failing businesses.

The American people will continue to exercise consumer sovereignity by choosing the cars or trucks that meet and exceed their needs and requirements.

Millions of Americans who in the past bought cars and trucks from both General Motors and Chrysler, will now be disinclined to buy cars from Government Motors.

Listening to several talk radio shows, callers said they will never again buy a car from a company that was bailedout with billions of dollars from the American taxpayer particularly a car from Government Motors.

 

General Motors is an ANTI-AMERICAN Company…

 

Instead American consumers will continue to purchase cars and trucks from Ford, Toyota, and Honda to name the top three vehicles producers in the United States.

The failure of the so-called big three US auto makers, General Motors, Ford, and Chrysler to produce cars at prices, designs, quality and reliability that the American consumer want resulted in the decline in their market share and now the bankruptcy of two of them.

The meddling of the radical socialist Democrat Party by government intervention into the economy such as the recently announced proposed new fuel and vehicle emission standards and the huge cap and trade carbon dioxide emissions tax are just two more examples of the arrogance of the political class in ignoring American consumer soveignity and assuming the American people are stupid:

President Obama’s New Fuel Economy & Vehicle Emissions Standards

Congressman Campbell appears with Greta on “On the Record” to talk about CAFE standards

 

Rep. Dingell (D-MI): Cap And Trade Is A Big Tax

GM files for bankruptcy June 1, 2009

 

Who is Obama’s radical socialist handling the United Auto Workers account?

Obama flunky, Brian Deese

GM Plant Closings, Brian Deese and GM Bankruptcy

Join the Discussion: Economy

Brian Deese Reacts to the Citizen’s Briefing Book

Change or Disenfranchisement

The American people should be free to chose the cars and trucks that they want to buy and not what President Obama and the radical socialist want you to drive.

When you mess with the American’s people’s choice of cars and trucks that they want to buy, the political class and elites can expect a massive pushback and backlash both in the market place, the ballot box and on the streets of American cities with millions of indepenedent Tea Party marchers.

Stop the radical socialist Obama designed car, vote with your dollars, ballots and firecrackers on Indpendence Day! 

You are invited to attend a Tea Party on July 4, 2009, Indepedence Day!

 

Join the Second American Revolution

 

we_the_people

The Meaning of Independence Day

Ayn Rand Center for Individual Rights

 

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People 

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Millions of Rightwing Extremists To March On Washington D.C. Fair–Celebrating Independence Day Tea Parties and Chanting “Extremism in the defense of liberty is no vice!” 

 

Please Spread The Message of Liberty

liberty_bell1

 “Proclaim liberty throughout the land to all its inhabitants.”

 

 Let Freedom Ring  

 

 

 

Thomas Paine on to Washington

 

switchfoot-dare you to move(live)

 
 

“The public firm can nowhere maintain itself in free competition with the private firm; it is possible today only where it has a monopoly that excludes competition. Even that alone is evidence of its lesser economic productivity.”

~Ludwig von Mises, Nation, State, and Economy, page 186

“In spite of the anticapitalistic policies of all governments and of almost all political parties, the capitalist mode of production is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.”

~Ludwig von Mises, Planned Chaos, page 15 

1959_cadillac

 

 
Background Articles and Videos

Just 21% Favor GM Bailout Plan, 67% Oppose

“…Only 21% of voters nationwide support a plan for the government to bail out General Motors as part of a structured bankruptcy plan to keep the troubled auto giant in business.

The latest Rasmussen Reports national telephone survey finds that 67% are opposed to a plan that would provide GM with $50 billion in funding and give the government a 70% ownership interest in the company.

Even when presented with the stark choice between providing government funding or letting GM go out of business, only 32% of voters support the bailout. Most voters (56%) say it would be better to let GM go out of business.

As on many issues, there is a huge gap between the views of the Political Class and the rest of the nation. By a two-to-one margin, the Political Class says it is better to provide the bailout funding than to let GM fail.

Most political conservatives and moderates say it’s best to let the company fail, but liberals are evenly divided. A majority of voters in all age groups say it’s better to let GM go out of business. So do 59% of men and 53% of women. …”

http://www.rasmussenreports.com/public_content/business/auto_industry/just_21_favor_gm_bailout_plan_67_oppose

68% Say Bailout Money Is Going To Those Who Caused The Economic Crisis

“…With public outrage building over bonuses paid to executives of the bailed-out American International Group (AIG), 68% of Americans now believe most of the taxpayer money given out as bailouts is going to the very people who created the country’s current economic crisis.

Seventy percent (70%) of investors hold that view along with 67% of non-investors.

A new Rasmussen Reports national telephone survey found that, overall, only 18% disagree and 14% are undecided.

Separate survey data recently found that 64% of Americans believe that big business and big government typically work together against the interests of consumers and voters. Only 15% disagree.

Americans have consistently been wary of the large taxpayer-backed bailouts and 65% now say Wall Street has benefited more from the bailouts than the average U.S. taxpayer. Only 18% believe the taxpayer has benefited more.

These numbers are roughly comparable to the findings in a survey in October just after Wall Street’s problems burst into public view and Congress was close to passage of its first bailout plan for the financial industry despite strong public opposition. …”

http://www.rasmussenreports.com/public_content/business/federal_bailout/68_say_bailout_money_is_going_to_those_who_caused_the_economic_crisis

Introducing GovMo

By Michelle Malkin  


(Photoshop credit: Reader Joe N.)

“… It’s official. General Motors has filed for bankruptcy. Government Motors is now in business, with a perpetual taxpayer lifeline:

General Motors filed for Chapter 11 bankruptcy protection Monday as part of the Obama administration’s plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government.

GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said it has $172.81 billion in debt and $82.29 billion in assets.

As it reorganizes, the fallen icon of American industrial will rely on $30 billion of additional financial assistance from the Treasury Department and $9.5 billion from Canada. That’s on top of about $20 billion in taxpayer money GM already has received in the form of low-interest loans.

George W. Bush stuck the key in the bailout ignition.

Barack Obama floored the gas pedal.

The taxpayers got stuck with a lemon for life. …”

http://michellemalkin.com/2009/06/01/introducing-govmo/

 

After 101 years, why GM failed

 Peter Cohan

“…To help other companies avoid GM’s fate, it’s worth exploring the five reasons that GM failed:

1. Bad financial policies. You might be surprised to learn that GM has been bankrupt since 2006 and has avoided a filing for years thanks to the graces of the banks and bondholders. But for years it has used cars as razors to sell consumers a monthly package of razor blades — in the form of highly profitable car loans.

And the two Harvard MBAs who drove GM to bankruptcy — Rick Wagoner and Fritz Henderson — both rose up from GM’s finance division, rather than its vehicle design operation. (Read more about GM’s bad financial policies here.)

2. Uncompetitive vehicles. Compared to its toughest competitors — like Toyota Motor Co. (TM) — GM’s cars were poorly designed and built, took too long to manufacture at costs that were too high, and as a result, fewer people bought them, leaving GM with excess production capacity. (Read more about GM’s uncompetitive vehicles here.)

3. Ignoring competition. GM has been ignoring competition — with a brief interruption (Saturn in the 1980s) — for about 50 years. At its peak, in 1954, GM controlled 54 percent of the North American vehicle market. Last year, that figure had tumbled to 19 percent. Toyota and its peers took over that market share. (Read more about GM ignoring the competition here.)

4. Failure to innovate. Since GM was focused on profiting from finance, it did not really care that much about building better vehicles. GM’s management failed to adapt GM to changes in customer needs, upstart competitors, and new technologies. (Read more about GM’s failure to innovate here.)

5. Managing in the bubble. GM managers got promoted by toeing the CEO’s line and ignoring external changes. What looked stupid from the perspective of customer and competitors was smart for those bucking for promotions. (Read more about GM’s managing in the bubble here.) …”

http://www.dailyfinance.com/2009/05/31/after-101-years-why-gm-failed/

 

Reasons Why GM Failed

By FRANK CARNEVALE

“…Some of the reasons for the failure.

* Hard-headed thinking at the top

Writing in Detroit’s Metro Times Jack Lessenberry believes that the management of the company could not make the hard decision. “What’s wrong, in a nutshell, is that it is a narrow, insular culture. Those who make it to the top of the heap, like Rick Wagoner, tend to be white Anglo-Saxon Protestant males who have worked at the same company their entire career, and have come up with the same set of buddies … It is very hard to fire your old pals.”

* Dropping the electric car program

One of management’s bad decisions was not sticking with it’s EV1 electric car program. The program began in the lates 1990s and the company had a lead on other car companies. They scrapped the idea and Toyota took the green mantle .

* Uncompetitive vehicles

Again Toyota was able to make cars that consumers wanted. Daily Finance writes that people were “willing to pay more for Toyota vehicles than for GM’s since Toyotas were better designed and built so they had higher quality, cost less to own, and lasted longer.” …”

http://www.myfoxchicago.com/dpp/money/dpgo_Reasons_Why_GM_Failed_fc_20090601_2529418

Bankruptcy for GM   

[Jim Manzi]

“…What would it mean to have GM go bankrupt? A change in ownership and a renegotiation of contracts.

The factories, computers, office space, intellectual property and so forth that are now owned by GM would not disappear; they would basically become the property of GM’s creditors. These creditors would sell the assets to the highest bidder. Assuming there is economic value to be created by continuing to operate the company as a business, private equity or strategic investors would buy the assets, shut down some plants, fire some union and exempt workers, and probably use the leverage of bankruptcy court to get a better deal from the unions. The current employees and creditors would be better off if you and I were forced by the federal government to prevent this by paying money to the corporate entity named General Motors, to then be paid to these employees and creditors. Of course, you and I would be worse off in this situation. On balance, if you believe that markets are more efficient allocators of capital than Congress is, the population of the United States would, on the whole, be worse off.

Is this fair to the people who work at GM and will now have a deal changed after the fact? Well, when people sold parts to GM on credit, or employees (individually or via union negotiations) entered into labor contracts with GM, they undertook counterparty risk. That is, they were taking, in part, a bet about whether GM would actually be able to pay them what they are owed. This is also true for pension payments, which are simply deferred compensation, as much as it is for deferred payments on credit terms for parts. To act now as if they should be protected from this risk is to treat them as children. …”

http://corner.nationalreview.com/post/?q=YzEzMThjN2UyMWE3NTMxOTA2ZTg3MDdlZWY5MjJmMTU=%3E

Consumer Sovereignty

“…Consumer sovereignty is a term which is used in economics to refer to the rule or sovereignty of purchasers in markets as to production of goods. It is the power of consumers to decide what gets produced. People use the this term to describe the consumer as the “king,” or ruler, of the market, the one who determines what products will be produced. [1] Also, this term denotes the way in which a consumer ideologically choices to buy a good or service. Furthermore,the term can be used as either a norm (as to what consumers should be permitted) or a description (as to what consumers are permitted).

In unrestricted markets, those with income or wealth are able to use their purchasing power to motivate producers as what to produce (and how much). Customers do not necessarily have to buy and, if dissatisfied, can take their business elsewhere, while the profit-seeking sellers find that they can make the greatest profit by trying to provide the best possible products for the price (or the lowest possible price for a given product). In the language of cliché, “The one with the gold makes the rules.”

To most neoclassical economists, complete consumer sovereignty is an ideal rather than a reality because of the existence — or even the ubiquity — of market failure. Some economists of the Chicago school and the Austrian school see consumer sovereignty as a reality in a free market economy without interference from government or other non-market institutions, or anti-market institutions such as monopolies or cartels. That is, alleged market failures are seen as being a result of non-market forces. However, it has also been argued (e.g., by Goutam U. Jois) that even a “pure” market system violates the consumer sovereignty norm. …”

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

Chapter 11, Title 11, United States Code

Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, while Chapter 13 provides a reorganization process for the majority of private individuals. …”

“…When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11.

In Chapter 7 the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned to the owners of the company. In Chapter 11, in most instances the debtor remains in control of its business operations as a debtor in possession, and is subject to the oversight and jurisdiction of the court.[1]

Features of Chapter 11 bankruptcy

Chapter 11 bankruptcy retains many of the features present in all, or most bankruptcy proceedings in the United States. It also provides additional tools for debtors as well. Most importantly, 11 U.S.C. § 1108 empowers the trustee to operate the debtor’s business. In Chapter 11, unless appointed for cause, the debtor acts as trustee of the business.[2]

Bankruptcy affords the debtor in possession a number of mechanisms to restructure its business. A debtor in possession can acquire financing and loans on favorable terms by giving new lenders first priority on the business’ earnings. The court may also permit the debtor in possession to reject and cancel contracts. Debtors are also protected from other litigation against the business through the imposition of an automatic stay. While the automatic stay is in place, most litigation against the debtor is stayed, or put on hold, until it can be resolved in bankruptcy court, or resumed in its original venue.

If the business’s debts exceed its assets, the bankruptcy restructuring results in the company’s owners being left with nothing; instead, the owners’ rights and interests are ended and the company’s creditors are left with ownership of the newly reorganized company.

All creditors are entitled to be heard by the court.[citation needed] The court is ultimately responsible for determining whether the proposed plan of reorganization complies with the bankruptcy law. …”

http://en.wikipedia.org/wiki/Chapter_11_bankruptcy

 

Interview with Yaron Brook–Capitalism and Role of Government

http://www.youtube.com/watch?v=GIoP7V6U-aQ

 

The Morality of Capitalism 1 – Ayn Rand Institute

 

The Morality of Capitalism 2 – Ayn Rand Institute

 

The Power of Choice – Milton Friedman

 

Milton Friedman – Greed

 

Milton Friedman – Morality & Capitalism

 

Milton Friedman – Path to Socialism 1

 

Milton Friedman – Path to Socialism 2

 

world_GDP

 

 

Inside Look – Can the U.S. Handle a GM Bankruptcy? – Bloomberg

 

Yaron Brook’s Call to Action – March 2009 (Part 1 of 2)

 

Yaron Brook’s Call to Action – March 2009 (Part 2 of 2)

 

Yaron Brook’s Call to Action – May 2009 (Part 1 of 2)

 

Yaron Brook’s Call to Action – May 2009 (Part 2 of 2)

 

In-Depth Look – GM Possible Bankruptcy – Bloomberg

 

The Future Of Chrysler And GM – Bloomberg

 

 

Obama slams investors in Chrysler deal as unamerican

 

Obama, Chrysler and The Chicago Way [The Scumbag Way]

 

Cavuto with Attny Tom Lauria on Chrysler: Are you scared?

 

ATTY Who Says WH Threatened Chrysler Creditors Wont Say He’s NOT Lying!

 

Ford During the Slide into the Great Depression

 

Hitlers Car – The Volkswagen – Germany

http://www.youtube.com/watch?v=ATbFE_3Lqb0 

 

VW commercial

General Motors Reinvention Commercial

 

 

Davos Annual Meeting 2008 – Bill Gates

 

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Saving The World: The Importance of Getting The Priorities Right

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Tea Parties Take Off In Texas–Spreading Nationwide–Are You Going To Washington Fair? Millions Celebrate The Second American Revolution–Saturday, July 4, 2009

Operation Family Freedom (OFF): Millions Celebrate Washington Fair, Saturday, July 4, 2009–The Second American Revolution  

The Empty Suit or Hollow Man–Barrack Obama–An Legend In His Own Mind

Cap and Trade Carbon Dioxide Tax: Gore’s and Obama’s Revenge on The American People–Let Them Freeze and Sweat!

President Obama Delays E-Verify–Shame On You Mr. President!

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

US Immigration Videos

Why immigration will be the number 1 political issue in the 2008 Presidential Election! — Gum Balls

One Big Awful Mistake America (OBAMA): Veterans Will Now Lead The Fight To Defeat Radical Socialism!

The Signed “Stimulus Package” Did Not Include Funding for E-Verify and Border Fence Construction–Less Jobs And Security for American Citizens

Inside the Meltdown: Who Was Withdrawing From Money Market Funds On September 16-18, 2008 and Why?

Bad Government Intervention Requires Bad Government Bank-The Road Map Out Of The World Economic Crisis–Stabilize–Stimulate–Strengthen–Simultaneously! 

President Obama’s Sales Pitch–Buy My Government Dependency Package–I Won The Election!–No Sale–The American People Want Their Money Back!

President Barack Obama Peddling The Government Dependency Package (GDP) and Fear Mongering The Raw Deal!

Pelosi’s Porky Pigout Poison Package–Economy Wrecker and Job Destroyer–Have A Blue Christmas 2009! 

BO’s Raw Deal: Obama’s Two Year Recession and Two Year Hyperinflation–Hopeless & Small Change!

Boycott Bailedout Businesses and Banks

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

The Sovereign Wealth Fund Threat: Are Chinese Communists Behind Rush In Passing Bailout Bill?

Recession–Recession–Recession–Scaring People–Have A Hot Dog!

It Is Official–The U.S. Economy Has Been In A Recession for 11 Months and Continuing

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The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

Posted on November 21, 2008. Filed under: Babies, Blogroll, Books, Communications, Economics, Education, Employment, Energy, Investments, Law, Life, Links, People, Politics, Quotations, Rants, Raves, Regulations, Resources, Security, Taxes, Video | Tags: , , , , , , , , , , , |

 

I.O.U.S.A. Bonus Reel: A $53 Trillion Federal Financial Hole

 

Our Country is Broke – How You Can Fix It

 

I.O.U.S.A.: Byte-Sized – The 30 Minute Version


 

David Walker: Nobody is going to Bailout America

Why Wont The Bail Out Work? MUST SEE!

 

Neal Boortz Explain the FAIRTAX


 

CNN Glen Beck -Dirty Secrets and Real Truth about US Debt & Economy


 

Congress should forget about bailing out any business including the auto companies.

Congress should also forget about any new spending programs.

Why?

The United States is broke!

Both political parties are not leveling with the American people and are in deep denial about the nature and magnitude of the problem–the Federal government is in a financial hole–it is broke.

The Federal Government has been spending beyond the means of the American people to pay!

Time for a tax revolt and the implementation of The FairTax!

The FairTax addresses all our economic problems from the foundation up.

The FairTax addresses all our economic problems from the foundation up.

Save The Economy Now: The FairTax

Rescue the homeowner and you rescue the economy
When the federal government ends the destructive practice of withholding taxes from paychecks millions of Americans will see a huge boost in their take home pay–enough to save their homes and pay mortgage bills.

A $10 trillion dollar stimulus program funded with private investments
Economists say the FairTax will attract literally trillions of dollars into our economy from offshore. That means new jobs right here in America, higher wages and a stock market that goes up instead of down.

Bring Back the “Made in America” Label
The FairTax ends the retail price disadvantage American producers suffer under the income tax system. The income tax system adds up to 20% to the price of American products and that chases our manufacturing and service industries offshore. The FairTax gives American companies–and jobs–a fair chance.

Our economy works when wage earners prosper
The FairTax makes our economy works again and restores consumer confidence by putting more money in wage earners’ pockets. It attacks the problem at the base of the pyramid where average people live–not at the pinnacle. It ends the tax disincentives to upward mobility, savings, investment and capital formation.

http://www.fairtax.org/site/PageServer?pagename=economy 

 

GM Borders Bankruptcy

 

GM-VM – 3 Months to Bankruptcy

 

Chapter 11 Bankruptcy

 

Bankruptcy Questions : What Is Chapter 11 Bankruptcy?

 

 

Background Articles and Videos

 

US Government Immorality Will Lead to Bankruptcy

IOUSA * IOUSA Movie * IOUSA Movie Trailer * Patrick Creadon


 

(1 of 7) David M. Walker speaks to NACo conference attendees

 

(2 of 7) David M. Walker speaks to NACo conference attendees

 

(3 of 7) David M. Walker speaks to NACo conference attendees

 

(4 of 7) David M. Walker speaks to NACo conference attendees

 

(5 of 7) David M. Walker speaks to NACo conference attendees

 

(6 of 7) David M. Walker speaks to NACo conference attendees

 

(7 of 7) David M. Walker speaks to NACo conference attendees

 

America’s Financial Future (Part 1)

 

America’s Financial Future (Part 2)

 

/20/08 Lou Dobbs & David Walker on the Economy

 

First, Why We Need a Fair Tax

 

Second, Fair Tax Questions and Advantages

 

Fair Tax

“The FairTax is a proposed change to the federal tax laws of the United States that would replace all federal income taxes[1] with a single national retail sales tax. The plan has been introduced into the United States Congress as the Fair Tax Act (H.R. 25/S. 1025). The tax would be levied once at the point of purchase on all new goods and services for personal consumption. The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or ‘prebate’, of tax on purchases up to the poverty level.[2][3] The sales tax rate, as defined in the legislation, is 23 percent of the total payment including the tax ($23 of every $100 spent in total—calculated similar to income taxes). This would be equivalent to a 30 percent traditional U.S. sales tax ($23 on top of every $77 spent before taxes).[4]

With the rebate taken into consideration, the FairTax would be progressive on consumption,[3] but would also be regressive on income at higher income levels (as consumption falls as a percentage of income).[5][6] Opponents argue this would accordingly decrease the tax burden on high income earners and increase it on the middle class.[4][7] Supporters contend that the plan would decrease tax burdens by broadening the tax base, effectively taxing wealth, and increasing purchasing power.[8][9] The plan’s supporters also argue that a consumption tax would have a positive effect on savings and investment, that it would ease tax compliance, and that the tax would result in increased economic growth, incentives for international business to locate in the U.S., and increased U.S. competitiveness in international trade.[10][11][12] Opponents contend that a consumption tax of this size would be extremely difficult to collect, and would lead to pervasive tax evasion.[5][4] They also argue that the proposed sales tax rate would raise less revenue than the current tax system, leading to an increased budget deficit.[4][13]

In recent years, a tax reform movement has formed behind the FairTax proposal.[14] Increased support was created after talk radio personality Neal Boortz and Georgia Congressman John Linder published The FairTax Book in 2005 and additional visibility was gained in the 2008 presidential campaign. A number of congressional committees have heard testimony on the bill; however, it has not moved from committee since its introduction in 1999 and has yet to have any effect on the tax system. The plan is expected to increase cost transparency for funding the federal government, and supporters believe it would have positive effects on civil liberties, the environment, and advantages with taxing illegal activity and illegal immigrants.[10][15] There are concerns regarding the proposed repeal of the Sixteenth Amendment, removal of tax deduction incentives, transition effects on after-tax savings, effect to the income tax industry, incentives on credit use, and the loss of tax advantages to state and local bonds. …”

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

 

United States public debt

“The United States total public debt, commonly called the national debt, or U.S. government debt, is the amount of money owed by the United States federal government to holders of U.S. debt instruments. Debt held by the public is all federal debt held by states, corporations, individuals, and foreign governments, but does not include intragovernmental debt obligations or debt held in the Social Security Trust Fund. Types of securities held by the public include, but are not limited to, Treasury Bills, Notes, Bonds, TIPS, United States Savings Bonds, and State and Local Government Series securities.[1]

As of November 19, 2008, the total U.S. federal debt was $10.6 trillion.[2], with about $37,316 per capita (that is, per U.S. resident). Of this amount, debt held by the public was roughly $6.3 trillion.[3] Adding unfunded Medicaid, Social Security, Medicare, veterans’ pensions, and similar obligations, this figure rises to a total of $59.1 trillion, or $516,348 per household.[4] In 2007, the public debt was 36.9 percent of GDP [5], with a total debt of 65.5 percent of GDP.[6] The CIA ranked the total percentage as 27th in the world.[7]

Public debt is the amount owed by the government to its creditors, whether they are nationals or foreigners. External debt is the debt of all sectors of the economy (public and private), owed to foreigners. In the U.S., foreign ownership of the public debt is a significant part of the nation’s external debt. The Bureau of the Public Debt, a division of the United States Department of the Treasury, calculates the amount of money owed by the national government on a daily basis.[8][9][10][11]

The total debt has increased over $500 billion each year since FY 2003, considering both budgeted and non-budgeted spending.[12] The annual US budget deficit declined from $318 billion in 2005 to $162 billion in 2007,[13] but increased to $455 billion in 2008.[14]Since FY 2002, the deficit reported by the media has been significantly less than the annual change in the debt, which surpassed $1 trillion for the first time in FY 2008.[15]

The Government Accountability Office (GAO), Office of Management and Budget (OMB) and the U.S. Treasury Department have warned that debt levels will increase dramatically relative to historical levels, due primarily to mandatory expenditures for programs such as Medicare, Medicaid, Social Security and interest. Mandatory expenditures are projected to exceed federal tax revenues sometime between 2030 and 2040 if reforms are not undertaken. Further, benefits under entitlement programs will exceed government income by over $40 trillion over the next 75 years.[16] The severity of the measures necessary to address this challenge increases the longer such changes are delayed. These organizations have stated that the government’s current fiscal path is “unsustainable.”[17]

…”

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

 

GOP bailout stooge to Cavuto: “It’s not your money”

By Michelle Malkin  

“…Behold the hubris of an entrenched Republican congressman shilling for the auto bailout. His name is Rep. Joe Knollenberg (R-Michigan) and you’ll be happy to know that he lost his re-election bid.

Attention, Republicans obsessed with “re-branding” the party and crafting appealing messages to win back voters. Here’s your textbook example of how not to act and what not to say if you want to restore credibility to conservatism: …”

http://michellemalkin.com/2008/11/19/gop-bailout-stooge-to-cavuto-its-not-your-money/

 

Fox: Cavuto Cong Joe Knollenberg its not your money

 

“Where Does the Money Go?” National Debt – Bill Moyers


 

Related Posts On Pronk Palisades

 

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009! 

Tea Parties Take Off In Texas–Spreading Nationwide–Are You Going To Washington Fair? Millions Celebrate The Second American Revolution–Saturday, July 4, 2009

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