Tuesday, February 24, 2009

A way for an LVT funded government to raise money.

Sell bonds that purchase an LVT discount, rather than bonds sold on the future work of the population.

Monday, February 09, 2009

Townhall: Back on Uncle Sam's Plantation by Star Parker

Six years ago I wrote a book called "Uncle Sam's Plantation." I wrote the book to tell my own story of what I saw living inside the welfare state and my own transformation out of it.

I said in that book that indeed there are two Americas. A poor America on socialism and a wealthy America on capitalism.

I talked about government programs like Temporary Assistance for Needy Families (TANF), Job Opportunities and Basic Skills Training (JOBS), Emergency Assistance to Needy Families with Children (EANF), Section 8 Housing, and Food Stamps.

A vast sea of perhaps well intentioned government programs, all initially set into motion in the 1960's, that were going to lift the nation's poor out of poverty.

A benevolent Uncle Sam welcomed mostly poor black Americans onto the government plantation. Those who accepted the invitation switched mindsets from "How do I take care of myself?" to "What do I have to do to stay on the plantation?"

Instead of solving economic problems, government welfare socialism created monstrous moral and spiritual problems. The kind of problems that are inevitable when individuals turn responsibility for their lives over to others.

The legacy of American socialism is our blighted inner cities, dysfunctional inner city schools, and broken black families.

Sunday, February 08, 2009

Telegraph: Bond market calls Fed's bluff as global economy falls apart

The "real" cost of capital is rising as the slump deepens. This is textbook debt deflation. It was not supposed to happen. The Bernanke doctrine assumes that the Fed can bring down the whole structure of interest costs, first by slashing the Fed Funds rate to zero, and then by making a "credible threat" to buy Treasuries outright with printed money.

Mr Bernanke has been repeating this threat since early December. But talk is cheap. As the Fed hesitates, real yields climb ever higher. Plainly, the markets do not regard Fed rhetoric as "credible" at all.

Who can blame bond vigilantes for going on strike? Nobody wants to be left holding the bag if and when the global monetary blitz succeeds in stoking inflation. Governments are borrowing frantically to fund their bail-outs and cover a collapse in tax revenue. The US Treasury alone needs to raise $2 trillion in 2009.


Saturday, February 07, 2009

Al BBC: Alternative views of the economic crisis

4 people, None of them correct; All of them from a melon (green-veneer red-core) perspective.

I haven't seen a single article on the BBC website which correctly attributes the coming depression to a credit boom regulated into existence by Government action.

Wednesday, February 04, 2009

Madoff Outrage: Whistleblower Testimony Rips SEC

Markopolos said he began his investigation into Madoff in late 1999 when a marketing executive from Rampart Investment Management Company Inc. told him of Bernard Madoff’s fantastic returns. Markopolos said he determined in less than four hours that Madoff’s operation was a fraud.

Madoff "was a 'no-brainer' investment but only in the sense that you had to have no brains whatsoever to invest into such an unbelievable performance record that bears no resemblance to any other investment managers' track record throughout recorded human history,” said Markopolos’ testimony.

In May of 2000, Markopolos said he contacted the SEC’s Boston office with his findings. The next year, Madoff spoke with Ed Manion in that office.