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: Ron Paul

Mortgage Summit: No New Ideas

Dogbert

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When Kevin Hall, writing for McClatchy Newspapers, said “the Obama administration got what it was looking for at its summit on the future of housing finance,” he was very close to the truth: No matter who spoke at the summit or what “new” ideas might be proposed, nothing would change—the government would remain fully in charge of mortgage financing for the country.

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Ryan’s Roadmap II

WASHINGTON, DC - FEBRUARY 15:  Chairman Paul R...

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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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Financial Reform: Expanding Hubris, Limiting Freedom

Chris Dodd

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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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Rush Limbaugh as GOP Kingmaker?

Rush Limbaugh

Cover of Rush Limbaugh

Zev Chafetswriting an op-ed for the New York Times, concluded that radio show host Rush Limbaugh “is the brains and the spirit behind [the conservative] resurgence.”

The writer claimed that “when the Tea Party movement emerged, Mr. Limbaugh welcomed it”:

The movement’s causes—fighting against health care reform, reducing the size and cost of government, opposing the Democrat’s putative desire to remake America in the image of European social democracies—were straight Limbaughism. A very high proportion of Tea Partiers listen to Mr. Limbaugh. Sarah Palin’s biggest current applause line—“Republicans are not just the party of no, but the party of hell no”—came courtesy of Mr. Limbaugh. Glenn Beck…calls Mr. Limbaugh his hero.

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Eminent Domain and the Kelo Echo

Stop Eminent Domain

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“This is abuse…. It’s [another] case of eminent domain abuse,” said Renee Smith-Ward, owner of Wag’In Tail, a dog-grooming salon in Auburn, New York. As reported by Fox News, the city is threatening to use “eminent domain” to seize her salon and other private property nearby to allow a builder to construct a hotel conference center.

Smith-Ward said, “I don’t believe it’s right to take someone’s property away from them for a hotel, for a private developer.” She said she thought eminent domain was “for power lines, roads, schools, hospitals [but] not for a private developer.” Another property owner, Michael Kazanivsky agreed: “These people just want to come in and steal it from you. They’re trying to take it from me. It’s not right.”

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ObamaCare: The Final Nail, or the Last Straw?

Barack Obama addressing a joint session of Con...

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In responding to House Speaker Nancy Pelosi’s (D-Calif.) incredulous “Are you serious?” about the constitutionality of Obamacare, many have written persuasively that the healthcare law is in fact unconstitutional.

Michelle Morin in her blog reminded her readers that Article 1, Section 8 limits the federal government to specific and enumerated powers, with all other unenumerated powers being left to the states or to the people. Michael Boldin of the Tenth Amendment Center analyzed the purpose of the Constitution and the Bill of Rights as limitations and restrictions on the power of the federal government. He concludes his analysis with these words:

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Greenspan’s Implausible Denial

Alan Greenspan, former chairman of the Board o...

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In his 48-page paper presented on March 19 to the Brookings Institution, former Federal Reserve Chairman Alan Greenspan now blames the collapse of the Soviet Union and the resurgence of the Chinese economy as causes of the Great Recession that was ushered in on his watch. And his arguments have just enough plausibility to be considered, if only briefly. But looking more closely is another matter.

When the Soviet Union collapsed, millions of workers were then free to “enter the global marketplace,” creating huge demand for consumer goods. And with the Chinese government allowing a modicum of free enterprise to placate their workers, many of them have created such significant savings that many billions of dollars were looking for a home. And consequently, many of those dollars returned to the United States in the form of mortgage capital that helped fund the housing boom. Greenspan said, “In short, geopolitical events ultimately led to a fall in long-term mortgage interest rates that in turn led, with a lag, to the unsustainable boom in house prices globally.”

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TSA and the Fourth Amendment: Take another Look

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When Homeland Security Secretary Janet Napolitano announced that Major General Robert Harding was President Obama’s latest nominee for the Transportation Security Agency (TSA), she said, “Mr. Harding has the experience and perspective [emphasis added] to make a real difference in carrying out the mission of the agency. If there was ever a nominee that warranted expedited…consideration in the Senate, this is it.”

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2010 Census: Much More than Simple Enumeration

Logo for the 2010 United States Census.

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The Census Bureau is facing an uphill battle to obtain all the information being demanded in the short form arriving in the mail at every household in the country, starting this week. As usual, the government is making a simple task complicated by reaching far beyond what the Constitution allows. Article I, Section 2 states:

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For Goldman Sachs, the Greece Fleece is Another Ripoff

Goldman Sachs Headquarters, New York City

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When Goldman Sachs was implicated in helping Greece deceive the European Union and its own citizens about the extent of its debt and deficits, it was another stone in the growing pile of evidence illustrating the incestuous relationship between governments and central banks.

In order to conform with Eurozone rules, Greece must limit its annual deficit to less than three percent of its GDP, and its total outstanding debt to no more than 60 percent of its GDP.  Now that it’s clear that Greece has been in significant violation of both of those rules for several years, experts have discovered that efforts were made to hide those violations through the use of “obscure derivatives provided by [Goldman Sachs and] other U.S. banks to delay payment on obligations, borrow even more money and to keep the true figures off the official books.”

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Yemen: Intervention, Nation-building, and the Constitution

Map of the modern state of Yemen. Map of Yemen...

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When Rep. Ron Paul (R-Texas) vented his frustration at further involvement by the United States in foreign countries despite constitutional limitations against such involvement, he declared:  “Stay out of Yemen!” Unfortunately, almost no one is listening.

Yemen is located on the southern tip of the Arabian Peninsula, bordered by Saudi Arabia on the north, the Red Sea on the west, the Gulf of Aden on the south, and Oman on the east. It is one of the poorest countries in the world, with unemployment exceeding 40 percent and the average citizen living on less than $1.25 a day. Its history is a running sore of intervention by outside influences and internal civil wars. It could be a vital, prosperous country by dint of its strategic location alone. Instead, it is best known for internal political corruption and increasing dependence upon foreign aid.

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A Closer Look at the GOP Litmus Test

Senator Arlen Specter while he was being inter...

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Now that the GOP has all but shelved the litmus test for candidates to receive money and support for their mid-term election campaigns, a closer look at that “test” reveals a tepid attempt to reinvigorate “conservative” principles into the big tent GOP.

The Republican National Committee, meeting in Hawaii to hammer out their platform, briefly considered a resolution from James Bopp, an RNC vice-chairman from Indiana and general counsel for National Right to Life, requiring candidates to state publicly their agreement with at least eight of ten listed “conservative” positions. Bopp said that his resolution was “designed to bring conservatives, some of whom have gravitated to the independent ‘tea party’ movement, into the GOP fold.” He expressed concern that “disaffected conservatives” would back third-party candidates and take support away from Republicans running in the same race. He added:

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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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Sarah Palin, Enigma

English: Sarah Palin addressing the 2008 Repub...

When Former Alaska Governor Sarah Palin announced her support for three prominent Republicans, her Facebook statement entitled “Ride the Tide with Commonsense Candidates” resounded with laudibles such as supporting those who offer “commonsense government,” and those “who promise to fight FOR the people and AGAINST politics as usual.” She referred to the Massachusetts election as “truly amazing,” and a “demonstration of the momentum we all share in the fight for the values and policies that will get our country back to work. The commonsense conservative principles of liberty and fiscal responsibility are on the rise…”

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The Fed: Forever Blowing Bubbles

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An article in the New York Times asked that since the Federal Reserve “failed to recognize the last bubble…why should Congress, or anyone else, have faith that future Fed officials will recognize the next [one]?”

The roots of the present Great Recession stretch back to the bursting of the last bubble—the tech bubble—in the late 1990s. As the stock market declined sharply, the Fed under then-chairman Alan Greenspan lowered interest rates in an attempt to keep the economy from collapsing. The Times succinctly noted in its overview of the credit crisis that “lower interest rates make mortgage payments cheaper, and demand for homes began to rise, sending prices up. In addition, millions of homeowners took advantage of the rate drop to refinance their existing mortgages. As the industry ramped up, the quality of the mortgages went down.”

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Bernanke: Lax Oversight Recession’s Cause

FRANKFURT, GERMANY - NOVEMBER 14:  Ben Bernank...

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Regulatory failures and not low interest rates were responsible for the housing bubble, implosion and current recession, Federal Reserve Chairman Ben Bernanke asserted on Sunday.

“Stronger regulation and supervision aimed at problems with underwriting practices and lender’s risk management would have been…more effective [in] constraining the housing bubble [rather] than a general increase in interest rates,” Bernanke told the American Economic Association.  Bernanke, while awaiting Senate confirmation for another term as Fed Chairman, defended recent and continuing charges that the Fed contributed significantly to the current financial crisis by keeping interest rates too low for too long.

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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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Bernanke Claims Economy Recovering

Ben Bernanke
Federal Reserve Chairman Ben Bernanke told the Economic Club of Washington that the economy is recovering, even as it confronts “formidable headwinds.”

He also promoted the Federal Reserve, and the job he is doing as head of the Fed) in an op-ed piece he wrote recently in the Washington Post where he assured readers (and Congress) that “the Fed played a major part in arresting the [financial] crisis, and we should be seeking to preserve [the Fed’s] ability to foster financial stability and to promote economic recovery without inflation.”

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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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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.
Copyright © 2020 Bob Adelmann