Economy

Dennis Kucinich Speaks on Stimulus and Bailouts

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Rep. Dennis Kucinich (D-OH) discusses the stimulus package and last year’s bailouts on Fox Business News.

Rachel Maddow’s “Bull-Puckey” Speech

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The other night, I had to chuckle and cry at the same time as I watched Rachel Maddow’s “Bull Puckey” speech.

Rachel’s declarations about the job-creating values of spending are about as insightful as Janeane Garofalo’s outburst on the radio in 2005, paraphrased thus: “… those free-market wackos with their ‘invisible hand’ mumbo jumbo.”

Both ladies’ understanding of the workings of the market typify the overconfidence of those who jump to conclusions without looking at the whole story.

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Why a Spending Bill Won’t Work

The other night, I had to chuckle and cry at the same time as I watched Rachel Maddow’s “Bull Puckey” speech.

Rachel’s declarations about the job-creating values of spending are about as insightful as Janeane Garofalo’s outburst on the radio in 2005, paraphrased thus: “… those free-market wackos with their ‘invisible hand’ mumbo jumbo.”

Both ladies’ understanding of the workings of the market typify the overconfidence of those who jump to conclusions without looking at the whole story.

Rachel claims that spending in and of itself is sufficient to create jobs and get the country out of a recession. Obama has embarrassed himself by making the same point. They have both overlooked that the statistical link between government spending and long-term job creation doesn’t exist. To illustrate:

Why Can’t We Abolish the Income Tax?

The income tax was probably the worst idea (okay, not the worst, but close) when it comes to taxes. Who thought of this anyway? “Hey, I have a great idea: let’s tax everyone’s incomes.” Or an even better idea, “No, no, no, let’s take it further and the more someone makes, the more they get taxed!” Penalize people for producing. Great idea.

“Give a Man a Job”

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Of all the New Deal era propaganda videos I’ve seen, this is by far the craziest. Jimmy Durante acts like a drunken buffoon and praises then President Franklin Delano Roosevelt. As one of the comments said, this is very timely.

Why Isn’t the Market Listening?

You’ve probably seen the Disney film, Fantasia. In the segment called The Sorcerer’s Apprentice, Mickey Mouse is the apprentice, and he decides to use some of the sorcerer’s magic while the boss is away. The experience is glorious, until he realizes that he can’t control it any more and he finds himself drowning in a self-created flood.

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[Thanks to Wikipedia.org for the illustration by S. Barth.]

When has a bailout ever worked?

Tom McClintock did a great job today breaking down exactly why the bailouts have been such a complete and utter disaster. Thank you Tom for not allowing Washington to simply brush this failure aside as they do with every other attempt at “rescuing” us.

Text from his floor speech:

President-elect Obama visits and speaks at Cardinal Fastener

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President-elect Obama visits and speaks at the Cardinal Fastener parts factory in Bedford Heights, Ohio.

Barack Obama Delivers Economic Speech

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Here’s a short clipshow of President-elect Obama’s excellent economic speech. I really like his candor about the deficit (which has been talked around for years) and his channelling Franklin Delano Roosevelt’s famous line about “fear itself.” Huffington Post has the text of the entire speech.

The Federal Reserve Is Causing The Collapse

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The author of this video compiles cable news excerpts and famous quotes to channel a message that the government and FED are the problem, not the solution, to the crisis.


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