We all grew up hearing the story of the first Thanksgiving- the deprivation and starvation, the help of the native Americans and the bountiful harvest that marked the first Thanksgiving.
What we rarely hear about is the method of economy the Puritans employed upon reaching the new shore- socialism. They endeavored to share the work and the fruits of their labor, eschewing the principles of private property and the free-market.
And how well did this work? Their Governor Bradford in his own words-
The current Grand Old Party is in despair and acknowledging some need for change. Since the end of the Reagan Administration it has slowly become the “Grumpy Old-White-Man’s Party” with little appeal to individuals outside of its traditional coalition, and even within that coalition there is little enthusiasm. So, most acknowledge there are problems; But what are they? How can they be fixed? These are the questions party insiders and loyalists are already attempting to answer.
What are the Problems?
While the mistakes made by George Bush’s Republican Party are so numerous one could probably never compile a completely conclusive book on the matter, most can be traced to fundamental root causes that desperately need to be identified and purged- below are a few of the broad policy mistakes committed by the Party.
No other election day has held the level of significance for me than this one does. While I’ve always voted, this was the first election cycle in which I took an avid interest and actually became involved in the political scene. For nine months, I was an active supporter of my hero, Dr. Ron Paul. After Super Tuesday, and it became evident that Dr.
Lately we have heard quite a bit about Barack Obama’s “spread the wealth” comment, which has given new ammunition to the McCain campaign and its supporters in accusing Obama of being “socialist”. As accurate as it is to describe much of Obama’s platform as socialist, to have McCain accusing Obama of supporting socialism is rather like the pot calling the kettle black.
Socialism used to be an ugly word- or at least an ugly concept- in America, but no more. With both mainstream candidates embracing the philosophy, it’s become clearer than ever that it’s time for a major over-haul in the beltway.
I’m continuously amazed at the knee-jerk reaction of Obama supporters when you call their champion a socialist. At the heart of socialism is the redistribution of wealth, a philosophy that Obama openly touts.
Socialism is as fundamentally flawed and as doomed to failure as democracy, and true patriots shouldn’t support any candidate that is spreading the doctrine of either, whether in this country or in the ones we occupy.
After all, America is a Constitutional Republic.
For years liberals, conservatives, independents, DC, Main Street and Wall Street seemingly defied all normality and not only embraced, but nearly worshiped the same individual, Alan Greenspan. After rising in 1987 to the position of Chairman of the Federal Reserve, the most powerful financial position in the world, he presided over the most sustained period of economic growth in the history of America. He rode the wave of private sector technological achievements that created abnormally high productivity growth. To many it was his greatness that brought about the increase in income, increase in homeownership, increase in credit, increase in all things material — while still maintaining price stability.
Glen Beck is right- as usual- and it scares me.
From an email by Professor Mark Thornton:
Some might find this useful. Misesian economics goes a long ways! -
Today the Federal Reserve invoked “Emergency Powers” in order to further expand its reach into the economy. There are many inherent problems with central banking. There are even more problems with central management of the day to day workings of the economy. Seeing the recent devastation in the credit markets - which was mostly created by the FED - the FED has been trying desperately to contain the situation, but its traditional policies are just showing little to no results.