3 Common Myths of Capitalism

Conservative Video Round-up

I have decided to start a new weekly blog that will be called the Conservative Video Round-up, in which I will link to some great videos to learn from and share with your liberal friends.

The Foundation of the American Government:

http://www.liveleak.com/view?i=d4f_1318296267


The Liberal Generation:

http://www.liveleak.com/view?i=76b_1315951004


Newt Gingrich:

http://www.youtube.com/watch?v=_QkogUO-XSk


Some Dude Keeping It Real:

http://www.liveleak.com/view?i=c96_1315943217


Comments please.

Thoughts on Where America Stands

 Have you haven't noticed the country is nearly insolvent and would likely be so if if not the trillions of additional debt to be added to the American balance sheet.

Republicans are not against SS, medicare, or medicaid.  They are against the mismanagement of such systems.  The nation has an enormous economy, but if you take out the $700 billion in military spending, the economy is not so robust.  Then take out all levels of government, 16.7% of all employed, which adds no real product or service to GDP numbers, you have to concede, something is wrong.

Think about this.  The democratic party wants to continue to grow government to regulate ever aspect that they can.  This is their policy, big government.  It is easy to verify, go to www.wikipedia.com or any other course.  If you take the 16.7% of people employed by government and their spouses, that is 33.4% of the electorate.  You do realize, that once that government has the majority of votes, that they have absolute power over people.  It is scary and it is the goal of democrats.  You think it is not, you are fooling yourself.  They want power to implement policies that future entrench their power.  

Republicans believe that this is inherently a terrible, terrible idea.  They do not want to dismantle SS, or Medicare, or Medicaid, as liberals would have you believe, but rather reform them to a system that works.  Of course taxes have to be raises, but programs have to be cut.  You can guarantee that it is not going to be public libraries, unless redundant.  Pools, if they accept federal money, should be closed. That is certainly a local government responsibility.

Charity is certainly a worthy virtue, but to take from people through taxation to give to someone else, seems a bit heinous, wouldn't you agree?  The great thing bout this nation, is our economic mobility.  most people are poor and work through life to better themselves, and by doing so pay more taxes which enriches the entire country.  Just because some people make a dumb amount of money, does mean that you should have a right to take it from them.  Where is the motivation to make more money.  Why not live in government housing and take what the government hands out?  It is nuts.

Have you seen modern public housing?  Do you think that people should be rewarded to the extent that they are, without making the sacrifices to better themselves? 

Salishan Housing Project in Tacoma Washington, Paid for partially with Federal funds. Why work? 

 
We pay $430 billion in interest on our debt every year and that is going to increase by 14.3% over the next two years.  That is at an average interest rate in the mid 3% range.  I would look up the exact number, but my computer is pretty much frozen at the moment for some reason. 

I am sure you remember when interest rates were above 12%.  If they rise even 3% from current levels, we are in a bad way.  You are talking about SS, Medicare, Medicaid, Military spending, and debt servicing taking more money than tax revenue can take and still have a functioning economy.

The austerity measure that Europe is taking at the moment is exactly what will happen here.   Taxes will crush business, which provides people the lifestyle they have today, spending on these programs, will be cut drastically, and we will not be in a good position.  We need to put aside the slander from the left and work to fix the issues today, so that in 10 years, we are not completely suck.  That includes raising taxes on most everyone.  The bush tax cuts are 85% for the middle class by the way.  It is easy to talk about the few million dollars that are are taken by businesses for jets, but you will not here of the really revenue generator which will be the largest tax increase on the middle class in decades.  This is necessary and will happen, despite the republicans trying to avoid it.

Revenues will increase at the expense of all citizens.  It just has to happen.  The status-quo can not continue and to be honest a surtax on those making $1 million a year is perfectly reasonable.  There are about 350,000 households that bring in that kind of money.  If we are honest with ourselves, it is ridiculous.  That does not me that we should absolutely ravage their income, but 6% is okay, right?

Who is to Blame for the Sub-Prime Financial Crisis?

As Newt Gingrich stated at the GOP debate in Hanover last week, if one is looking for where the blame is to rest for financial crisis, you have to look at Chris Dodd and Barney Frank.  However, the problem is much deeper.  Let us trace the financial crisis to its roots.

Here is a timeline of events that ultimately caused the financial turmoil of the later part of the last decade:

1977:  Community Reinvestment Act - Signed into law by the white devil, Jimmy Carter.  No empirical evidence that the governmental demand of making loans to low income individuals had a major effect on the financial crisis.  The culprit of course was the sub-prime lending boom that was encouraged by Clinton and Bush, most likely to prop economic numbers.

  

1999: The Gramm–Leach–Bliley Act was brought before the house and senate by the three republicans that the bill's name carries.  Signed into law by President Clinton.  This bill reversed the Glass-Steagal act of 1933 that separated investment banking and retail banking.  This is how retail banks were able to invest in higher risk securities over the past decade and find themselves holding trillions of dollars in toxic assets.

2002:  Rep. Ron Paul is warning of Fannie Mae’s and Freddie Mac’s possible ruin of the financial industry in front of the House of representatives .

Thanks to Squeakywheel for pointing out that Bush Signed into law the American Dream Downpayment Act in Dec. 16th 2003.  This helped low income borrowers with down payments and closing costs, but I was unable to find anything tying this to the lax borrowing guidelines.  Squeakywheel says that this lead to Stated Income mortgages, but I could not find the data to support.  If anyone has insight, please comment.

2004:  Republicans push for more regulation of Fannie and Freddie. Barney frank, who later became the head of the subcommittee and bold-faced lied numerous times that, “he inherited the problem when he took the position in 2007”.  What a turd.  Listen to the fool below stump for not increasing regulation of the industry; even in light of a compelling report for such things.  You will also notice other members of the committee playing race politics.

Here is the subcommittee hearing on the matter.  It is one of the best portrayal of the democrat/republican dynamic(emotional driven nonsense vs. prudence, based upon evidence) I have ever seen.  The democrats got us good, though liberal media has pulled the wool over the eyes of most. Watch.  It is hugely interesting.

http://www.liveleak.com/view?i=5ca_1309803937

2005:  Emboldened by the lack of action $1.469 Trillion subprime mortgage are originated between 2005 and 2006.

 2007:  The financial collapse begins takes hold.

2009:  Obama takes office.

2012:  Obama leaves office accomplishing nothing more than inhibiting the public sector from creating long term employment opportunities for those Americans desperate for employment.  He did this in a number of ways, which will be discussed at length in a blog to follow.

The future:  The ramifications of the financial crisis are still not fully known. However, this blog is all about the blame game.  The score Rep. 25% the Democrats 75%

What Liberals Believe: A Policy of Subversion by Misdirection

Please note the tagline, "Thousands of quotes on why America needs to be rescued from greedy corporations, homophobes, racists, imperialists, xenophobes, and religious extremists". You have got to be kidding me.

While this book has this on the front cover to sell what is otherwise an unreadable 600 pages of nothing but quotes, it exemplifies exactly how the left tries to move the would be debate from topics of importance to how the right is evil. If you have not noticed this trend, just be aware, it is basically impossible to miss. I want to offer a few examples before moving forward with the post.

Republican's want women to die on the floor: This is a supposed leader

http://www.youtube.com/watch?v=WqvWnaAZGfw

Republican's are racists: Who exactly is racist in the video? The sad part is the failure of the subcommittee to act on the finding of the regulators increased the damage of the financial crisis by 2 fold.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Now what is more troubling, is that Barney Frank, who is in the video stumping for Fannie Mae & Freddie Mac and had a lover at Freddie during the period, is now the head of said subcommittee. It is certainly easy for one to surmise why Chris Dodd & Barney Frank sponsored he housing recovery act. I would assume it is a thinly veil their wrong doings and/or incompetence.

When Newt Gingrich declared that they should be investigated if people were looking for someone to jail during the GOP debates in Hanover New Hampshire on October 11th, Frank came back with the assertion that Gingrich was just embarrassed that he was polling behind Michelle Bachmann.

It is pretty clear to see a pattern which should be troubling to most Americans.

In an attempt to keep these posts to a manageable level, I am going to try to break them into easy to digest and discuss topics. Please comment on your thoughts and please suggest topics for discuss going forward.

Good luck!