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: Bankruptcy

Can ObamaCare Be Repealed, Nullified?

Repeal ObamaCare

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U.S. Representative Michele Bachmann (R-Minn.), who has earned a “Freedom Index” rating of 90 percent in the current Congress to date, has introduced a bill in the House to repeal ObamaCare. In her press release, Bachmann reminded her constituents that “the government already owns or controls about one-third of U.S. economic activity through the takeover of General Motors, the bankruptcy reorganizations of Chrysler, the partial ownership of two of the country’s largest banks in Bank of America and Citigroup, and the seizure of mortgage giants Fannie Mae and Freddie Mac as well as AIG. Taken all together, [with ObamaCare] we’re looking at half of the American economy in the grip of the federal government.” Bachmann said that it “will do nothing to spur economic growth … [but] will serve only as an obstacle to actual recovery and smother the spirit of innovation and freedoms that made this country great.”

Her bill is simplicity itself:

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Free Markets, Deregulation, and Blame

Quarterly Journal of Austrian Economics

Image via Wikipedia

Free markets, in the full sense of the phrase, exist only in the minds and imaginations of free-market economists from the Austrian School, such as Ludwig von Mises and Murray Rothbard.

The classic definition is simply a market without intervention or regulation by government. In truth, commerce in any developed country is always controlled to some extent by government. A free market requires the right to own property, which means that the wages, earnings, profits, and gains obtained by providing products and services to others belongs to the individual generating them. The assumption is that an individual with this kind of freedom would only make an exchange that gained him a benefit.

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Lehman Bros.: Pinprick That Burst the Bubble

Balloon POP !!!

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The culprits blamed for the failure of Lehman Brothers in September of 2008 included the company’s top executives, their accountants, their highly-leveraged loans that had started going bad, their success at hiding those bad loans by cooking the books, and their lenders demanding more and better collateral, according to Anton Valukas in his 2,200 page report released Thursday.

There is certainly plenty of blame to go around, and it looks like there will be criminal charges filed too. The biggest lie, however, wasn’t mentioned: that this implosion of Lehman Brothers caught everyone by surprise.

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What Part of “No” Doesn’t He Understand?

Pelosi Showing Obama Health Care

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This change allegedly reflects the impact the Brown win in Massachusetts last week had on politics in general, but also that it had not been anticipated by Obama or the Democrats.

“The entire political community was caught a little bit unawares on that one,” said David Axelrod, White House senior advisor. The impact of Brown’s win on Obama’s healthcare bill was significant in that it deprived the Democrats of the opportunity to push the bill through the Senate without a Republican vote.

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The Fed’s New Tool to Fight Inflation

WASHINGTON - APRIL 17:  Federal Reserve Chairm...

Last Monday, the Federal Reserve unveiled its new “term deposit facility” as another tool to fight inflation.

It was reassuring to note that the Fed has finally defined inflation’s causes properly: as a continuing rise in the general price level usually attributed to an increase in the volume of money and credit relative to available goods and services.

With the enormous increase in money and credit that the Fed has engineered over the past year, concerns are being raised about the coming rise in the general price level.  These concerns are being reflected in the recent declines in the bond market as investors appear to be demanding higher interest rates to offset some of that anticipated rise.

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Is Social Security a Ponzi Scheme?

Mug shot of Charles Ponzi (March 3, 1882 – Jan...

More than $16 billion of investors’ money evaporated in Ponzi schemes in 2009, according to the Associated Press. Although the names Bernie Madoff and Allen Stanford were in the headlines in 2009, many other Ponzi schemes were uncovered as the economy declined, making continued payouts to investors impossible.

As Warren Buffet said, “Only when the tide goes out do you discover who’s been swimming naked.”

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Jobs Summit: More talk? Yes. More jobs? No.

unemployment

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When ABC News asked if the “jobs summit” would make real progress or would just be “simply a glorified public-relations stunt,” it studiously avoided asking the real question: How can the prime movers that created the current economic “Great Recession” be expected to fix it?

For starters, where is the constitutional authority for the government to get involved in creating jobs, even if it could?

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Captains of the Economy: The ‘Good Ol’ Boy’ Network is Alive and Well

ABC News Now

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In its attempt to glorify “the 10 who shaped the U.S. economy the most since 2000,” ABC News did a great favor for those interested in the interconnections among the “elite” who are impacting the current world economic and political scene.

Naturally, much was left unsaid about these “captains,” especially regarding their connections to the elite currently in charge. In order, then, here is a brief look at each of these “10 who shaped the U. S. economy”:

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Inflation? What inflation?

Huff and puff and...

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We dont have to hire historians to see where deficit spending will take us. We have only to look around now. Since the end of World War II, some of history’s greatest national disasters have taken place right here in the Americas. North Americans used to laugh or shake their heads at the economies of the south that seemed always on the brink of collapse.  Banana republics, we derisively called them. We’re not laughing now.

Here are some examples he provides of inflation lag time:

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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.
Copyright © 2021 Bob Adelmann