Once again, the National Inflation Association (NIA) nails it. The host says that LAST WEEK, over 450,000 people filed NEW jobless claims. And that number did not include the correct numbers from NINE STATES. But the hapless media and Wall Street got wood over the labor numbers.
As I have said for years, actions speak louder than words. Never listen to what a politician says…they ALL lie ALL the time. Only watch what they do.
Washington DC’s solution to fiscal problems is exactly opposite from the simplest, most obvious “first grade” way to handle money, which is encapulated in these four principles:
1. Earn money honestly without cheating others.
2. Don’t steal money from others.
3. Spend an amount of money equal to or less than you have.
4. Do not spend more money than you have.
Washington teaches America how to handle money by example. The fact that Americans do not impeach Congress and prosecute individual lawmakers for fraud, malfeasance and misfeasance means that most Americans approve of the way Washington handles money.
Washington created bubbles in real estate and mortgages, and baited Americans to participate in the bubble. Washington created a bubble in the financial markets and financially-ignorant Americans jumped in. These bubbles promised “get rich quick” profits, and America swallowed the hook.
When Washington taxes heavily and borrows heavily, they actually compete with the free market for capital. All the taxation that leaves your pocket is unavailable to you to spend on goods and services. It is unavailable for you to put at risk (a business) or at interest (an investment). All taxation that leaves the coffers of businesses is unavailable to invest and create goods and services. Borrowing (Treasury bonds) steals capital from the future. And inflation steals borrowing power from all capital today and tomorrow.
“Jobs” are simply the labor component of any product or service. If you want jobs that last a long time, there must be (a) a market demand for the product or service, (b) the capital necessary to produce that product or service, and (c) laws in place that encourage production within the USA. Washington does exactly the opposite. Washington’s stimulus solutions vacuum capital out of the productive marketplace to create temporary jobs. Washington creates an artificial and temporary demand for something, which goes away once Washington stops funding it a the point of a gun. It is the sugar buzz your kids get when they eat candy, and you all know what happens to the kids when the buzz wears off…the sugar crash.
The American economy needs basic healthy fiscal nutrition, not an ice cream sundae. You all know what I mean. And you all know that Congress and the _____ Administration (fill in the blank with whatever President is seated at any given time) will NEVER provide less taxation and less regulation.
So, the only logical solution to end the insanity coming from Washington is secession. Who will be first?
Please watch the following video about gold and the newest Obama bright idea…$50 Billion more in stimulus candy.
Courtesy National Inflation Association
DumpDC. Six Letters That Can Change History.
© Copyright 2010, Russell D. Longcore. Permission to reprint in whole or in part is gladly granted, provided full credit is given.