Updated: Mad Mahmoud Saner Than Bailout Bastards

Economy, Federal Reserve Bank, Inflation, Iran, Socialism

Who’s crazier; Mad Mahmoud Or the Bailout Bastards?

Ahmadinejad’s God gobbledygook aside, the Iranian loon has figured out something the newly crowned King Henry (Paulson) and his cronies reject root-and-branch:

“‘The U.S. government has made a series of mistakes in the past few decades,” Ahmadinejad said an interview with the Los Angeles Times. ‘The imposition on the U.S. economy of the years of heavy military engagement and involvement around the world … the war in Iraq, for example. These are heavy costs imposed on the U.S. economy.’”

“‘The world economy can no longer tolerate the budgetary deficit and the financial pressures occurring from markets here in the United States, and by the U.S. government,’ he added.”

Economist Robert Higgs has pegged all defense-related spending—the price of America’s empire—at approximately $1 trillion per year. That, and this, will do it.

Update: “THIS MASSIVE BAILOUT IS NOT THE SOLUTION, IT IS FINANCIAL SOCIALISM, AND IT IS UN-AMERICAN.” Who is Jim Bunning? He’s the only politician (other than Ron Paul) to have called the hideous thing by its name: socialism.

Senator Jim Bunning’s statement at the “Banking, Housing, and Urban Affairs Committee Hearing on Turmoil in the U.S. Credit Markets”:

“We cannot make bad mortgages go away. We cannot make the losses that our financial institutions are facing go away. Someone must take those losses. We can either let the people who made bad decisions bear the consequences of their actions, or we can spread that pain to others. And that is exactly what the Secretary proposes to do – take Wall Street’s pain and spread it to the taxpayers. The plan has not even passed, and already Americans are paying for it because of the fall in the dollar as a result of all the new debt we will be taking on.

I know there are problems in the financial markets, and I share a lot of the same concerns that our witnesses do. However, the Paulson plan will not fix those problems. The Paulson plan will not help struggling homeowners pay their mortgages. The Paulson plan will not bring a stop to the slide in home prices. But the Paulson plan will spend 700 billion taxpayer dollars to prop up and clean up the balance sheets of Wall Street. This massive bailout is not the solution, it is financial socialism, and it is un-American.” [My emphasis]

UCLA Bureaucrats Subvert Anti-Quota Law. But Where Is GOP?

Affirmative Action, Education, Multiculturalism, Race

The excerpt is from my new VDARE.COM column:

“Ask John McCain to free associate and in response to “illegal aliens” he’ll blurt ‘God’s children,’ and vice versa. This apparently irresistible combination surfaced again in his convention address: ‘Everyone has something to contribute and deserves the opportunity to reach their God-given potential,’ McCain bleated. ‘[F]rom the boy whose descendents [sic] arrived on the Mayflower to the [likely illegal] Latina daughter of migrant workers. We’re all God’s children and we’re all Americans.'”

God, no doubt, moves in mysterious ways. But McCain needs to be reminded that the boy whose forefathers settled the country he professes to love has not been in the good graces of government for quite some time. The Latina daughter of illegal migrants is another matter entirely. She’s benefiting big time—at least at a top government school like the University of California…”

The complete column is “UCLA Bureaucrats Subvert Anti-Quota Law. But Where Is GOP?.” Read it on VDARE.COM.

Updated: Prophet Paul & Good Guy Glenn (Beck)

Federal Reserve Bank, Inflation, Media, Ron Paul, Socialism

More TV traitors, who condemned and cussed Ron Paul, are calling on him to explain what he has been predicting vis-à-vis the consequences to markets of the government’s reckless squandering and its monetization of debts and deficits.

Glenn Beck is, naturally, no traitor, he’s a patriot—the only man on TV who gets it and is honestly grappling with the truth. Beck challenges the liars, and takes no nonsense from pols pretending to be good guys. He’s the only TV talker on whose show you’re likely to hear sentences and sentiments such as, “Where is that in the Constitution?”

Here is Beck’s latest interview with Paul, via New Liberty. The reality is BAD, but Paul is sounding better and better by the day. Transcripts are here.

Update (September 23): Sadly, Good Guy Glenn has joined the bad guys. He informed his devotees last night that, over the weekend, he had been beefing up on “editorials,” and had come to the conclusion that socializing whole industries was a necessary evil. Said Glenn:

“The $700 billion that you`re hearing about now is not only, I believe, necessary, it is also not nearly enough, and all of the weasels in Washington know it. … The bailout — I see this as just stopping the plane from falling out of the sky.”

Peter Schiff, President of Europaca, who is clearly libertarian (and Austrian on economics), tried to reason with Glenn:

“Now the problem is our pilot and our co-pilot, Bernanke and Paulson, don’t know how to fly. I mean, they’re blind. They’re drunk.
You know, they’re going to crash this plane even faster. You know, the bailout is actually going to make it worse because we don’t have the $2 trillion. We’re just going to print it up.
Instead of just the entire economy coming down, we’re going to take our currency and we’re going to have a much bigger crisis when our money isn’t worth anything and interest rates are double digits because nobody will lend us any more.”

AND:

“The government’s not going to save us. They did this to us. They’re the ones that created the greed by eliminating all the risks of mortgage lending in the first place. They say we have to do this, they say we have to go into Iraq because they had weapons of mass destruction. They were wrong. This plan is a weapon of mass destruction to destroy our economy and to destroy our currency.”

I say fire Treasury Secretary Hank Paulson, who, before joining the Byzantine bureaucracy, had a $40 million per-annum job on Wall Street. Hire Schiff.

More from wise man Schiff:

“The government is just borrowing and spending more money. They’re not letting the market fix the problem. And how are we going to get out of this mess with more government, with more inflation?
As bad as this collapse would be, this is going to make it worse. Doing something different would be shrinking government.”

But Glenn let the wise guys—the State’s stool pigeons—have the last word, which he then seconded.

Updated: Prophet Paul & Good Guy Glenn (Beck)

Economy, Federal Reserve Bank, Inflation, Media, Ron Paul, Socialism

More TV traitors, who condemned and cussed Ron Paul, are calling on him to explain what he has been predicting vis-à-vis the consequences to markets of the government’s reckless squandering and its monetization of debts and deficits.

Glenn Beck is, naturally, no traitor, he’s a patriot—the only man on TV who gets it and is honestly grappling with the truth. Beck challenges the liars, and takes no nonsense from pols pretending to be good guys. He’s the only TV talker on whose show you’re likely to hear sentences and sentiments such as, “Where is that in the Constitution?”

Here is Beck’s latest interview with Paul, via New Liberty. The reality is BAD, but Paul is sounding better and better by the day. Transcripts are here.

Update (September 23): Sadly, Good Guy Glenn has joined the bad guys. He informed his devotees last night that, over the weekend, he had been beefing up on “editorials,” and had come to the conclusion that socializing whole industries was a necessary evil. Said Glenn:

“The $700 billion that you`re hearing about now is not only, I believe, necessary, it is also not nearly enough, and all of the weasels in Washington know it. … The bailout — I see this as just stopping the plane from falling out of the sky.”

Peter Schiff, President of Europaca, who is clearly libertarian (and Austrian on economics), tried to reason with Glenn:

“Now the problem is our pilot and our co-pilot, Bernanke and Paulson, don’t know how to fly. I mean, they’re blind. They’re drunk.
You know, they’re going to crash this plane even faster. You know, the bailout is actually going to make it worse because we don’t have the $2 trillion. We’re just going to print it up.
Instead of just the entire economy coming down, we’re going to take our currency and we’re going to have a much bigger crisis when our money isn’t worth anything and interest rates are double digits because nobody will lend us any more.”

AND:

“The government’s not going to save us. They did this to us. They’re the ones that created the greed by eliminating all the risks of mortgage lending in the first place. They say we have to do this, they say we have to go into Iraq because they had weapons of mass destruction. They were wrong. This plan is a weapon of mass destruction to destroy our economy and to destroy our currency.”

I say fire Treasury Secretary Hank Paulson, who, before joining the Byzantine bureaucracy, had a $40 million per-annum job on Wall Street. Hire Schiff.

More from wise man Schiff:

“The government is just borrowing and spending more money. They’re not letting the market fix the problem. And how are we going to get out of this mess with more government, with more inflation?
As bad as this collapse would be, this is going to make it worse. Doing something different would be shrinking government.”

But Glenn let the wise guys—the State’s stool pigeons—have the last word, which he then seconded.