The pundit universe was afire this past week over Gov. Perry's characterizing Social Security as a Ponzi scheme, one of the oldest forms of financial fraud, well-defined. The Boston Globe, in its review of a book titled 'The Looting of Social Security' by Allen Smith Ph.D., characterized Social Security as "a national pension plan transformed into an outright shakedown of working people." Shakedown . The Boston Globe. Gov. Perry and The Boston Globe agree that the Social Security system is, in fact, a criminal enterprise. For the record, two hallmarks of Ponzi schemes are: (a) a non-existent or unsustainable means... continue reading
The huge noise you just heard was the sound of … nothing. A bit of nothing that was quite something - the latest job numbers. Total jobs gained: zero. Zilch. Nada. lists 25 such synonyms for such a monumental failure. That's not even enough for one per month for the failure that is the Obama administration. Fail at being liked by a lot of the public and you are George W. Bush, who served two terms as president. Fail at being ethical and you are Bill Clinton, who also served two terms. Fail at the economy, especially jobs, and... continue reading
Sad to say, this isn't shocking news. The pesident's first official, post-vacation act on Monday was nominating Alan Krueger, a Princeton academic, to head his council of economic advisers (a herd of other academics.) And who wouldn't? It might have altered history, if only a few economists had been aboard the Titanic. Or a few more helicoptered in. If you ever need call 911, rest easy; they'll send over a Princeton economist. The president is a marvel of consistency. He inherited a bad economy. He and his team of academic theorists have managed to make it worse on an epic... continue reading
Conservatives are crazy. Sometimes they're stupid, racist or even evil. On creative occasions they're all four - at least that's how they're portrayed by the American media. This election season, journalists have partnered fully with the left to depict conservatives in the most vile ways they can muster. While it's nothing new, the sheer volume of attacks is noteworthy. What's worse is that many are coming from supposedly legitimate news operations. Every national conservative politician battles these media characterizations. Ronald Reagan was crazy or stupid, depending on the lefty arguing it or the phases of the moon. Nancy was allegedly... continue reading
Here are two under-reported, outrageous news stories. One a general story, one a business story - both are very bad news of the same kind. The first should anger you, the second should scare you. The U.S.D.A. is, this school year, running a new pilot program in three states, providing free school lunches to every child - to avoid stigmatizing and harming the self-esteem of the poor kids redeeming welfare vouchers for their meals. Having been a poor kid once, I can assure you this will not mask that fact nor shield the poor kid from ridicule or self-esteem injury... continue reading
The Politico headline read: "Conservative elites pine for 2012 hero." They could have shortened that sentence to "Elites pine" or more likely to "Elites freak the heck out." Because it's not just the conservative cognoscenti, it's all of them. The folks in charge miss the good old days when they ran everything and ordinary American voters and taxpayers did as they were told. Those days are gone and the in-crowd is afraid it is on the way out, too. Congress's favorability is down to 13 percent and even the lefties at Mother Jones are whining that both parties are cancelling... continue reading
This past week President Obama unveiled his two best ideas for ending our economic crisis and unleashing a job creation tsunami. Apparently he has been keeping these powerful plans in reserve, waiting until they were most needed. In case you missed them, be ready to sleep better tonight after hearing these flashes of genius. One: patent law reform. I'll give you a moment to catch your breath. Two: further extend unemployment welfare, commonly referred to as unemployment benefits or, more humorously, unemployment compensation. Ninety-nine weeks is insufficient. This alone, Obama claims, somehow creates 100,000 jobs. It harkens back to his... continue reading
On Sunday, August 7's "Meet the Press," of everybody at the table, only Alan Greenspan came close to truth, and host David Gregory quickly moved the conversation away from it. The pre- and post-debt ceiling debacle argument about economic policy has been firmly framed as (A) spend more, borrow more and tax the rich more to stave off the bankruptcy the spending and borrowing must inevitably bring, versus (B) cut spending, shrink government to live within its income and reduce taxes to liberate economic recovery, slow as it must now be. It's a false debate de-linked from the chief, true... continue reading
To hear MSNBC's new class clown Lawrence O'Donnell explain it, most voters "don't really know anything about the economy." If he's correct, then we can lay the blame squarely on the media and the left for years of twisting and misreporting economics and the nation's financial picture. Just look at recent events. We have a president who blamed ATMs as one of the "structural issues with our economy." To Obama, technological advancement and convenience are problems. I guess I should go back and look at his last tax filing and see if he still has stock in buggy whip manufacturers,... continue reading
In a letter to the editor, published in the Northern Wyoming Daily News, Bruce L. Hargraves, USN Retired, wrote: "I object and take exception to everyone saying that Obama and Congress are spending money like a drunken sailor. As a former drunken sailor, I quit when I ran out of money." It is obvious they have no intention of scaling back, let alone quitting until they have run out of everybody's money and credit . The debt ceiling war wound up a meaningless and petty duel between two political parties. Both were still committed to cutting little and to pushing... continue reading