A-Jad Has A Question

China, Debt, Federal Reserve Bank, Iran

Iranian President Mahmoud Ahmadinejad (or A-Jad) has a question for the presidential candidates, if Candy Crawly (or the next bobblehead) will allow it. Asks A-Jad:

“How long can a government with a $16 trillion foreign debt remain a world power?”… “The Americans have injected their paper wealth into the world economy and today the aftermaths and negative effects of their pseudo-wealth have plagued them.”
…“An empire, or a government, remains in power so long as the people under its power support it, but today the Americans have acted in a way that the world nations do not like them at all, and therefore, their international legitimacy is annihilated.”

More important than “international legitimacy,” for which Obama has not stopped striving: Both candidates have told the biggest foreign owner of U.S. Treasury bonds to go to hell. Where will the US be without America’s largest creditor, China?

The Perils of Presidential ‘Yellow Peril’ Fever

BAB's A List, Business, Capitalism, China, Democrats, Republicans, Trade

The quote is from the current column, “The Perils of Presidential ‘Yellow Peril’ Fever,” now on WND:

“In the course of the second presidential debate, Mitt Romney was asked to differentiate himself from the justifiably despised George Bush. The Republican presidential contender, who has surrounded himself with neoconservative heavy hitters—and has called Dick Cheney a ‘person of wisdom and judgment’—listed a number of inconsequential distinctions.

Left off was a distinction that reflects favorably on Bush. Like Mr. Obama, George W. Bush did not ‘label China a currency manipulator,’ something Romney has promised to do on his first day in office. This dubious distinction, if anything, belongs to ‘the Clinton administration,’ also the only administration to ever so do.

Labeling China a currency manipulator, to quote Mr. Romney, ‘would allow me as president to be able to put in place, if necessary, tariffs where I believe that they are taking unfair advantage of our manufacturers.’

The same executive-branch omnipotence allowed Barack Obama to go all-out on matters menstrual. Judging by the questions culled by moderator Candy Crawly, America’s female lobby wants a sugar daddy in the White House. Such sentiments, with their attendant wish lists, are easily gratified, given the plenary powers of the presidency.

Yes, feelings are Barack Obama’s forte; facts not so much. The president, poor man, is up a stream without a paddle. Obama is working with all he’s got. It’s hard to blame him for his inability to explain the inexplicable.

And it is this. On the topic of the imagined perils of the ‘Yellow Peril,’ here’s what escaped Obama, who was as eager to impress voters with his me-too Sinophobia …

… Ultimately … Both the president and the incumbent flout freedom and flirt with fascism when they threaten to come between Americans and their cheap, Chinese, consumer goods. …”

The complete column, now on WND, is “The Perils of Presidential ‘Yellow Peril’ Fever.” Read it.

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O’s Argument From Inflation

Barack Obama, Economy, Energy, Federal Reserve Bank, Inflation

“Game. Set. Match, Mitt Romney,” last night, did not mean that the arguments made during the second presidential debate were not both tedious and hopeless for liberty lovers.

I did perk my ears, though, when Barack Obama made an argument from inflation. Mitt Romney failed or was prohibited from following-up (although I’m not suggesting that he had the philosophical wherewithal with which to respond).

Obama suggested that an earlier drop in gas prices was due to America’s economic straits (partially correct), and was thus a bad thing (completely incorrect):

CROWLEY: Mr. President, could you address, because we did finally get to gas prices here, could you address what the governor said, which is if your energy policy was working, the price of gasoline would not be $4 a gallon here. Is that true?
OBAMA: Well, think about what the governor — think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney’s now promoting.

In Austrian economics, deflation, “a sustained decrease of the price level,” is a good and natural market response.

Writes Doug French “In Defense of Deflation”:

Lower prices increase demand; they do not reduce or delay it. That’s why more and more people own flat-screen TVs, cellular telephones, and laptop computers: the prices of these goods have fallen, and people with lower incomes can afford them. And there are more low-income people than high-income people.
Lower prices don’t mean lower profits; nor do they mean that employees will be laid off. More demand for a good or service means more employees needed to produce those goods and services. “There is no reason why inflation should ever reduce rather than increase unemployment”
“Deflation is one of the great scarecrows of present day economic policy and monetary policy in particular”…

And here’s Guido Hülsmann on “The Economics of Deflation”:

Game. Set. Match, Mitt Romney

Ann Coulter, Barack Obama, Democracy, Elections, Left-Liberalism And Progressivisim, Republicans

Mitt Romney won the second presidential debate too. That any normal person watching the brawl would have concluded. But in this country even the polls are bifurcated. GALLUP calls it for Romney (R: 50% O: 46%). An instant, non-scientific CBS poll says Obama curried favor with voters, 37% to 30%.

Because the bar for Obama had been set so low, dumbo’s passable performance fired up the base, not least the groupies at CNN. Chief cheerleader Jessica Yellin was over the moon, darting about fawning over Obama’s enthralled Democratic entourage. (She called it “interviewing.”)

I believe Ann Coulter predicted what has just unfolded. From the first debate, posited Coulter (on Hannity), liberals took away that no good would come from telling the truth about Obama’s dismal performance. Come what may they would, second time around, hail a tolerable performance as a momentous victory.

And this they’ve done, down to Andrew Sullivan, the borderline retarded crunchy con.