President-elect Donald Trump sat down with Fox Morning host Ainsely Earhardt for an extended one-on-one interview which was broadcast this morning:
Source: President-Elect Donald Trump One-on-One Interview With Ainsley Earhardt…
President-elect Donald Trump sat down with Fox Morning host Ainsely Earhardt for an extended one-on-one interview which was broadcast this morning:
Source: President-Elect Donald Trump One-on-One Interview With Ainsley Earhardt…
Anyone who believes Democrats own exclusive opposition to Donald Trump are completely ignoring the deliberate construct of the 2015/2016 republican primary. There are just as many -if not more- na…
Here is the latest example of corrupt politicians voting in favor of their own self-interests. Bernie Sanders may be a bit fanatical, yet he has been trying to push a bill through to allow Canada and other countries to import prescription drugs to the U.S., which would significantly decrease the price that consumers have to pay for medication.
Trump commented that the big pharmaceutical companies “get away with murder,” and even Republicans Ted Cruz, John McCain, and Rand Paul voted in favor of the bill. Yet, 13 Democrats blocked the bill from passing. Those same Democrats receive large payouts from the pharmaceutical companies. The list even includes Cory Booker — the next rising darling of the Democrats. This is why we MUST impose term limits – one time and out.
Kenneth Rogoff is a Professor of Public Policy and Economics at Harvard University. Rogoff calls critics of negative interest rates “ignorant” despite the fact that negative interest rates have been used since 2008 without any success. He had the audacity to say that people should not look at their short-term personal losses, but rather look at the long-term vision of the central banks. He is such an elitist. I cannot find words appropriate to describe how this academic, who has zero experience in the real world, is incapable of comprehending that his Marxist style intervention is creating the next crisis.

Yes, negative interest rates lower deficits. But who will buy the negative debt besides central banks? Why borrow money at all and compete against the private sector? Interest rates are negative to punish savers for saving. He wants them to spend their money. Fine – stop government borrowing altogether and just print what is needed for the expense of government. Stop this elitist Marxist concept that people like Rogoff can play the role of emperor and manipulate society to do whatever they believe is appropriate.
Just before his death in 1946, John Maynard Keynes (1883-1946) told Henry Clay, a professor of Social Economics and adviser to the Bank of England, that he hoped that Adam Smith’s invisible hand would help Britain out of its economic hole. “I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.”
Economists such as Rogoff are still basking in the ideas of Karl Marx that government CAN and SHOULD manipulate society to achieve the public policy dreams of those in power. Rogoff is not willing to even think about what he has done to the pension system and how we are looking at states like Illinois becoming broke.
In California, less than four years have passed since it fought to achieve a balanced budget by raising taxes to the highest level in the nation. Politicians cannot manage the economy and negative interest rates are destroying pensions. There is no long-term gain, for Rogoff cannot imagine the next step. The central banks are trapped and can NEVER resell what they have bought under Quantitative Easing. We are rapidly approaching the point of no return or NO BID. That is when government tries to sell its debt to pay off the last chunk and there is NO BID. Oops! Checkmat
QUESTION: A helping hand is not socialism I get perturbed about the lack of distinction between socialism and where a helping hand of the kindly state ends. I refer with due respect to your blog on differences between capitalism and socialism. Marty, As you know in all families there are those children and some adults who need a helping hand to get on their feet in order to start running. Giving them a chance, a break, a start is not taking away their dignity. It is actually a good thing and binds the families together. A bridge over troubled waters from the state is not socialism, it is good old common sense.
Can you please help us understand where to draw the line?
Thanks for all the good work you do.
ANSWER: I fully agreed that there is a place for charity. When you do something for someone it makes you feel good inside, which is a selfish feeling I suppose. There are people who do not understand giving anything. I discovered that in my own case with the government. I had purchased computers for my grade school and funded computer classes during the early 1990s, way ahead of just about anyone. They would send me photos to show the progress. I did not take a tax deduction because you always had to defend such things with government. Any deduction is like taking bread out of their mouths. I preferred to do it all anonymously so I was the mysterious benefactor and the terms were that my name was not to be revealed.
The receivers on my case, Alan Cohen and Tancred Schiavoni, demanded all these missing computers I had bought for they might have vital information on them. They didn’t believe someone would do such a thing, I suppose, because people judge others based on themselves. They contacted the school to verify the story.
John D. Rockefeller’s benefactions from 1855 to 1934 totaled $530,853,632 before there were tax deductions. It was Rockefeller who probably made the largest donation to help the American Red Cross become who they are today. Most of the people I have known who made a lot of money donate to various efforts, not for tax deductions, but to feel they are giving something back.
Government is incapable of feeling anything and they are certainly incapable of running anything, including a charity or bubblegum machine. Those in government are either insanely greedy or insanely jealous of anyone in the private sector. Very few people in government are benevolent outside of the people who are there just for the job. There is no right or wrong with government — they are always right. That is why people have said you cannot fight City Hall. They fine people for various things and then that becomes the incentive to punish people. I remember my father took a position as a judge in a local municipality and the politicians told him they wanted the maximum fines imposed for everything. He refused and quit.
Socialism is only power for government. They promise all sorts of things and then constantly default. Look at Social Security. They keep raising the age and reducing benefits after taxing you your whole life. Government is in this for itself. They always talk about the “rich” and income tax, but they borrow from the poor and middle class without interest and then hand them a refund check as if they are magnanimous. They blame the “rich,” saying when the stock market goes up they get richer. Yet they deny the average person the right to invest by stuffing Social Security with government bonds and denying people the ability to invest in the markets.
The line should be drawn clearly. Government should get out of the socialism pretense that just lines their pockets. End the income tax and simply have a sales tax; then it would not matter if someone were an alien who, unlike citizens, do not have to pay income taxes. Consumption taxes should be the only way to fund local government. You do not need mayors for every little town and separate police forces. We have so much duplication in government that consumes the national wealth. People would be a lot better off if they were free to invest and participate in the economy without government interfering all the time.
Well, at least the DoD won’t have the issue of paying for Manning’s gender reassignment surgery any longer. Additionally, the Intel Community writ large gets a big poke in the eye from…
Source: No Unicorns, Only Rainbows – President Obama Commutes Bradley Manning Sentence…
Political counter culture icon Andrew Breitbart mastered the use of a simple term: “SO”? Whenever challenged about the downside of his approach, AB had an inherent knack for removing to…
COMMENT: Martin, A story I received: A guy looked at my Porsche the other day and said I wonder how many people could have been fed for the money that sports car cost. I replied I am not sure, it fed a lot of families in Bowling Green, Kentucky who built it, it fed the people who make the tires, it fed the people who made the components that went into it, it fed the people in the copper mine who mined the copper for the wires, it fed people in Decatur IL, at Caterpillar who make the trucks that haul the copper ore. It fed the trucking people who hauled it from the plant to the dealer and fed the people working at the dealership and their families. BUT,… I have to admit, I guess I really don’t know how many people it fed.
That is the difference between capitalism and welfare mentality. When you buy something, you put money in people’s pockets, and give them dignity for their skills. When you give someone something for nothing, you rob them of their dignity and self worth. Capitalism is freely giving your money in exchange for something of value. Socialism is taking your money against your will and shoving something down your throat that you never asked for.
JS
REPLY: This is a very good example of the difference between Capitalism and Socialism. Hillary said during the campaign that Trump was worth a few billion – “Think of what we could do with that money.” They only do look at the wealth and not at the contribution to the economy and society. You can look at Henry Ford and say yes – another rich bastard. How many jobs did he create inventing the assembly line? The difference is jobs compared to just entitlements for existing.
I had an old friend from high school call me when I was around 40. He called to ask me for a job. I ask; “Frank. What have you been doing?” He told me he never worked. He has his plane, car, and boat. When we grew up, his mother own the luncheonette all the kids would go to for lunch and after school. She was a widow and spoiled Frank. She never made him get a job and just bought him whatever he wanted. When his mother died, the money stopped. When he called me and said he never worked, I was shocked. I said I did not have a job for him. He was the classic example of socialism.
A constitutional referendum is planned to be held in Turkey in in the Spring of 2017. A survey is showing that the people are not really in favor of handing endless power to the President Recep Tayyip Erdoğan. Voters are expected to decide on amending 18 articles of the Constitution of Turkey. The amendments have been the established policy of the governing Justice and Development Party (AK Party) and its founder President Erdoğan. The amendments are to now include the introduction of an executive presidency that would replace the existing parliamentary system of government. Erdoğan want to abolition of the Office of the Prime Minister and assume more of a dictatorial position. He also intends to reform to the Supreme Board of Judges and Prosecutors.
Erdoğan launched a purge of all the pro-US elements in Turkey and sold off his US holding of US bonds. True, this was in part to try to support the failing lira. But Erdoğan agenda is far from one of really merging with Europe or the USA. He has been crazy to the point of demanding punishment because of comments of TV people of Turkey in Germany. He has been very intolerant of criticism internationally. The coup, which is highly doubtful was real, appears more to be a purge of anyone who disagreed with him and might rise up in the future.
Turkey must also be on the watch list during 2017 – the Year from Political Hell.
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