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: War

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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Free Markets, Deregulation, and Blame

Quarterly Journal of Austrian Economics

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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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Mitch McConnell: One Smart Political Pragmatist

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Republican Minority Leader Senator Mitch McConnell (R-Ky.) had a strategy even before President Obama was inaugurated, according to the New York Times. Recognizing that Republicans had lost control of the Senate as well as the presidency, that strategy was to use his 30-plus years of political wheeling and dealing to slow down the Democrat juggernaut, and wait for reinforcements.

During the current healthcare debate, McConnell bet that by presenting a united, even if a minority, front against Obamacare, and putting in place delaying tactics, Republicans would force the Democrats to use “parliamentary back flips” to get the bill passed and onto the President’s desk. Such Democrat efforts as reconciliation, the Slaughter tactic, and the “deemer” strategy would so dismay the average American voter as to derail the juggernaut before it became law.

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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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Cell Phones, Big Brother and the 4th Amendment

Cell Phone

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The Obama Justice Department is appealing a lower court decision that requires it to provide “probable cause” before it can track cellphone users. The DOJ wants instead to operate under a lower standard for tracking cellphone users, based on a reasonable belief that such information is “relevant to a…criminal investigation.”

Magistrate Judge Lisa Pupo Lenihan wrote: “Where there is a reasonable expectation of privacy, intrusion on that right by the Government for investigatory purposes requires that the Government obtain a warrant by demonstrating to the Court that it has probable cause, i.e., that it make a showing of a fair probability of evidence of criminal activity.”

Police have been tapping into the locations of cellphones thousands of times a year.

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China Reacts to U.S. Arms Sale to Taiwan

Chiang Pin-kung, vice-chairman of the Kuominta...

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Last month’s decision by the United States to sell $6.4 billion worth of arms and military supplies to Taiwan “will not affect steadily improving ties between Taipei and Beijing,” according to Chiang Pin-kung, Taiwan’s top China negotiator. The deal “should not have any impact on ongoing China talks and the future development of bilateral ties,” he added.

China’s reaction, however, was much less sanguine. Beijing immediately suspended military exchanges with Washington and threatened sanctions against the military contractors supplying the war matériel to Taiwan.  And on Monday a group of Chinese military officers, in state-controlled media interviews, urged China to increase its defense spending and deploy additional troops to offset the new agreement between the United States and Taiwan.

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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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Latest on the Economy: Heading Up or Head Fake?

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When the Bureau of Economic Analysis announced that “the output of goods and services…increased at an annual rate of 5.7 percent in the fourth quarter of 2009,” the usual suspects in the kept media could hardly restrain themselves. ABC News’ headline trumpeted, “Economy Grows…Fastest Since 2003” which was “fueled by companies boosting output to keep stockpiles up.”  Their announcement explained that “Growth exceeded expectations mainly because business spending on equipment and software jumped much more than [was] forecast.”

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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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Weak Dollar Obama’s Fault?

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According to Newsweek, the dollar isn’t weakening, and even if it is, it isn’t Obama’s fault. On Tuesday, Daniel Gross iterated all the reasons that, according to conservatives, the American dollar should weaken. Conservatives, he said, blame the actions of the Federal Reserve with the lowering of interest rates to zero, printing money, and expanding the monetary base. They also blame the Obama administration for running up huge deficits in its efforts to restart the faltering economy.

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Frank Luntz Filters Gun Owners

Frank Luntz

In Monday’s editorial, the New York Times reported the results of a Frank Luntz poll indicating that NRA members are much softer on key issues than the National Rifle Association itself.

Unfortunately, the editorial was rife with filters in the form of hot labels and emotionally-laden words and phrases that immediately impugned the validity of the results of the study.

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Obama, Dems Slip Sharply in Polls

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Nearing the end of his first year in office, President Obama and his Democratic Party are taking a beating in polls by NBC News/Wall Street Journal and the Washington Post/ABC.

After defying the laws of political gravity for much of his first term, Obama and his party’s poll numbers are starting to reflect increasing public unhappiness over the economy, healthcare, and Afghanistan.

For the first time in his presidency, Obama’s overall approval rating has fallen below 50% to 47%. More of those polled also see the Democrat party in a negative light, and believe the country is “on the wrong track”, with a negative 55% rating, the highest since inauguration.

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Amtrack, Guns, and Sausage

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When congressional negotiators agreed to a final version of a transportation bill, it included an amendment to allow Amtrak passengers to take their guns with them—unloaded, locked, and only in their checked baggage.

While only a small skirmish in the long war against the right of citizens to “keep and bear arms” under the Second Amendment, the process by which this amendment was added is worth examining as a microcosm of “representative government” in action.

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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 © 2020 Bob Adelmann