Armstrong Economics Blog/Economics
RE-Posted Feb 21, 2018 by Martin Armstrong
The economic message taught in most universities is very distorted. It universally teaches children to judge economic systems from the perspective of their victims. They will endlessly point out the impoverished people and the devastation of the climate as proof that capitalism is evil and that we need government to intervene. We have economist after economist talking always about income disparity as an evil implying that everyone should earn close to the same – one income fits all.
As they always point a finger at the rich and covet whatever they have in direct violation of the Ten Commandments, politicians are elevated to a pedestal and championed as our savior ignoring how they too leave office clothed in riches and the fool is always the person who buys into the whole political-economic-socialist agenda.
Hillary Clinton saw nothing wrong with renting a house for $50,000 a week in the Hamptons hamlet of Amagansett. I know a lot of wealthy people who would not spend that much to rent a house for a vacation for just one week. It was Hillary during the campaign who pointed to the fact that Trump was a billionaire and said: “Think of what we could do with that!”
Then we have Obama – another champion of the poor. He bought a house in DC and paid $8.1 million. Of course, there was the scheming Obama who turned to real corruption to buy a house for $1.6 million BEFORE he was a Senator. He cut a deal with an indicted felon who bought a property for $625,000 and then sold it to Obama for $104,500 as Obama said it was fair value – right!. Obama has magically earned millions from public service.
Then there is Obama’s famous Rolex watch. His watch is a Rolex Cellini, the cheap version which tells time-only. It is a white gold case and a classic alligator strap which goes for $15,200.
The Rolex is even pictured in his official portrait. Once again, we have Democrats who always target the rich to get votes and portray them as evil, clothing themselves and living like kings.
Capitalism = Freedom, which simply means you are free to do whatever you like in life compared to Communism where the government told you where to live and what to do. It is Socialism where the government takes an authoritative role that then encourages bribery that is not capitalism, but tyranny.
Socialism has become simply just propaganda. The sad part about it has been most people feel good when they help someone else. I bought computers for the grade school I went to and funded computer courses to try to give the kids a step ahead in life back in the early ’90s. Rockefeller funded archeology around the world among many other things and when you go to museums you see collections donated by private sources. The National Gallery was donated Andrew Mellon who bought the collection from the communists in Russia to save them and built the museum.
Capitalism lets you decide what to do rather than the government takes the money and put most of it in its pocket for administrative costs. Socialism plays upon the human trait of helping others and then exploits it for those in power who pretend to care while lining their pockets.
Unfortunately, as socialism continually hands more and more power to the government, you end up transforming the government into a tyranny. The classic example of that is simply the bail-in policies where they will no longer protect the people against mismanagement of banks, but they will instead take the money of the people to protect the banks. FDIC was to protect the people and was a BAILOUT system created as part of Roosevelt’s New Deal. That has given way to now BAIL-INS so the government has abandoned even the socialist agenda moving ever closer to raw tyranny.