Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Democrat

The Fed: Defending the Indefensible

Cover of "END THE FED"

Cover of END THE FED

In defending the Federal Reserve against what CNBC considered to be “an unprecedented level of attacks,” former Fed governor Frederic Mishkin said it was because of the Fed’s inability to “articulate a clear message regarding its trillion-dollar monetary policies”:

Monetary policy is never easy. You’re always the whipping boy. The question [now] is the degree. Now you’re getting whipped with a little bit harder lash than usual. But you’ve got to make the tough calls….

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Bloodbath Coming?

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White House deficit commission co-chairman Alan Simpson spoke at a Christian Science Monitor roundtable on Friday morning saying, “I can’t wait for the blood bath in April. It won’t matter whether two of us [on the commission] have signed this or 14 or 18. When debt limit time comes, they’re going to look around and say, ‘What…do we do now? We’ve got guys [House freshmen] who will not approve the debt limit increase unless we give ’em a piece of meat, real meat, off of this package.’ And boy the blood bath will be extraordinary.”

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John Allison: Free Market Banker

BB&T

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When asked during an “Online with Terry Jeffrey” interview about how to solve the debt crisis facing the country, former Branch Banking & Trust (BB&T) CEO John Allison, was direct:

If you run the numbers…the United States goes bankrupt. It’s a mathematical certainty.

Now countries don’t go bankrupt the way companies do. They don’t file [for] bankruptcy. They usually hyper-inflate. They print a bunch of paper money, or they become Third World economies like Argentina—unless [they] change direction. So, we absolutely have to change direction.

When challenged about how to change direction, Allison was refreshingly candid:

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Behind the Numbers: October Employment Report

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Even though 151,000 new real jobs were added in October, according to the Bureau of Labor Statistics, the unemployment rate stayed at 9.6 percent. This announcement not only successfully masked the fact that fewer people were looking for work, which made the rate look better, but also that more people are staying unemployed longer.

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78th Congress a Harbinger for the 112th?

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On his blog political analyst Dick Morris predicted earlier this week that Republicans would take back the House of Representatives and then backed it up during an interview on Fox News, stating flatly that the Republicans would capture control of both the House and the Senate on Tuesday.

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Progressives Emerge Unscathed

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The hard-core Left represented by members of the Congressional Progressive Caucus in the House of Representatives will survive essentially undamaged in today’s mid-term elections.

Only one member of the CPC lost in the primary election, and only one other member is predicted to lose in today’s election, according to the Cook Political Report. Three other members of the caucus are in races too close to call. The other 77 members of the CPC will keep their seats.

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Voters Holding Their Noses and Voting Republican

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A new New York Times/CBS News poll illustrates the mass exodus of support for President Obama and the Democrat-controlled Congress in favor of the Republicans. Jim Rutenberg writes that “critical parts of the coalition that delivered President Obama to the White House in 2008 and gave Democrats control of Congress in 2006 are switching their allegiance to the Republicans…[They] have wiped out the advantage held by Democrats in recent election cycles among women, Roman Catholics, less affluent Americans and independents.

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2010 Elections: Dividing the Spoils

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Last-minute polls by Rasmussen and Cook are continuing to show big gains for Republicans on Tuesday. And jockeying for positions of leadership in the 112th Congress is now out in the open.

In his “The Crystal Ball’s Final Calls” for Rasumssen Reports, political commentator Larry Sabato raised “raising the total [gain in the House] to +55 net R seats.” In the Senate, Sabato estimates a net gain of 8 seats by the Republicans. Political analyst Charlie Cook agrees: “To be honest, I think the odds are higher that [House gains will be] over 60 than under 40.” If he is wrong and Republicans fail to take control of the House, Cook said he’ll “be sacking groceries.”

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Social Security: No COLA for You

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When the Social Security Administration announced that there would be no cost-of-living-adjustment for 2011, Betty Dizik, Claire E., John Walker, Nancy Pelosi, and the AARP all agreed it would be difficult for the 58 million beneficiaries currently receiving checks. Betty’s only source of income is her $1,200 monthly payment from Social Security. At age 83, she exclaimed, “I’m like a lot of other people in my predicament who live on Social Security. It’s hard. We cannot make ends meet.”

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Study: VAT Will Cost More Jobs, Reduce Living Standards

The VAT cometh

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Time is running out on the Obama administration to pass a value-added tax: The mid-term elections are two weeks away with Democrats anticipating heavy losses, the lame-duck session is due to start on November 15, President Obama’s National Commission on Fiscal Responsibility and Reform publishes its report on December 1, and Congress already faces a long list of “must-pass” legislation. A just-released study about the negative impacts of a VAT isn’t going to help.

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Stuffing the Lame Duck Congress

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In their haste to leave Washington and attempt to rescue whatever might be left of their political careers, politicians put off until a lame-duck session any serious discussion of last-minute agenda items. And many of those aren’t expected to see the light of day at the post-election session set to being November 15, according to The Hill. Alexander Bolton wrote that “Democrats will be hard-pressed to pass even a small part of their lame-duck agenda.”

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Armed Citizens 1, Criminals 0

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The report from NewsNet5 in Wadsworth, Ohio, was scarcely considered news, rating only a few brief paragraphs: “A gun-carrying couple helped [police] catch a man who was allegedly beating his girlfriend in a parking lot in front of her two children…Police said the couple, who each have a permit to carry a concealed weapon, called 911 [and] then pulled out their guns and ordered the man to the ground.”

Heather Evans told the 911 dispatcher, “My husband and I both have CCW licenses and we were in fear for her life, and we drew our weapons on him.” The attacker, Anthony Konopinski, is now facing domestic violence, child endangerment, resisting arrest, and drug paraphernalia charges.

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Who is Mike Pence?

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In an early straw poll, Rep. Mike Pence (R-Ind.) was the choice for presidential nominee in 2012 over such conservative luminaries as Sarah Palin, Mike Huckabee, and Mitt Romney. Capturing 24 percent of those voting at the Family Research Council’s Values Voter Summit this past weekend in Washington, DC, Pence relegated even Senator Jim DeMint to a barely visible 5 percent.

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Fiscal Challenges: A Way Out

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(This article is a follow-up to Conjuring Magic To Cover States’ Debts.)

Economist Niall Ferguson of Harvard wrote an article entitled “Complexity and Collapse” for the March/April issue of Foreign Affairs, a publication of the Council on Foreign Relations. Ferguson uses the visual image of a series of paintings by Thomas ColeThe Course of Empire, which currently hangs at the New York Historical Society, to illustrate his point that every society goes through five stages. He says that Cole “beautifully captured a theory of imperial rise and fall to which most people remain in thrall to this day.”

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Conjuring Magic To Cover States’ Debts

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The first warning about the possible bankruptcy of the town of Vallejo, California, was reported by the Associated Press on February 28, 2008, when Councilwoman Stephanie Gomes said, “Our financial situation is getting worse every single day. No city or private person wants to declare bankruptcy, but if you’re facing insolvency, you have no choice but to seek protection.”

Marci Fritz, vice president of the California Foundation for Fiscal Responsibility, blamed the action on promises made earlier by the council to the city’s employees concerning salaries and retirement benefits that the city no longer can afford. According to Fritz, these were promises made during economically flush times, and were due to the city council’s unrealistic expectations that those times would continue indefinitely.

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Congressional Ethics an Oxymoron?

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USA Today seems surprised at the number of ethics cases making headlines recently, referring to the trials being faced by Representatives Charles Rangel (D-N.Y.) and Maxine Waters (D-Calif.), noting that the number of such cases “has jumped dramatically in the past year.” In the first six months of 2010, “an independent congressional watchdog began 44 ethics investigations,” while the Office of Congressional Ethics has recommended that the House ethics committee “take action against 13 lawmakers.”

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Ryan’s Roadmap II

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The first time Rep. Paul Ryan (R-Wisc.) offered his “Roadmap for America’s Future” to the House of Representatives, it failed by 137-293, with 38 Republicans voting against, including Rep. Ron Paul (R-Texas). With his own district safe in the fall elections, Ryan has been spending his time generating support for Roadmap II with presentations to conservative think tanks and coffee klatches.

And he seems to be gaining some traction along with a lot of fresh attention.

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Railroads, Robber Barons, and Unbridled Capitalism

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When Matthew Josephson wrote The Robber Barons in 1934, he tipped his hand as to his personal prejudice against the capitalists of the late 19th century:

Besides the young men who marched to [the Battle of] Bull Run, there were other young men of 1861 whose instinctive sense of history proved to be unerring. Loving not the paths of glory they slunk away quickly, bent upon business of their own. They were warlike enough and pitiless yet never risked their skin: they fought without military rules or codes of honor or any tactics or weapons familiar to men: they were the strange, new mercenary soldiers of economic life.

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The Invisible Recovery

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On Friday Reuters reported that non-government payrolls rose only slightly in June and overall employment fell “for the first time this year…indicating the economic recovery is failing to pick up steam.” This report followed several others last week indicating weakness in consumer spending, housing, and manufacturing which “have heightened fears [that] the economy could slip back into a recession.”

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Financial Reform: Expanding Hubris, Limiting Freedom

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When the House passed the 2,319-page Dodd-Frank financial reform bill by a vote of 237-192, all it did was confirm for many the extraordinary hubris of legislators believing they could in fact “fix” the problems they themselves created which resulted in the Great Recession of 2008.

John B. Taylor,  professor of economics at Stanford University says, “The main problem with the bill is that is based on a misdiagnosis of the causes of the financial crisis…the presumption that the government did not [already] have enough power to avoid the crisis.”

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.