Government Waste and Wall Street

I just sent this letter to the Olive Press, our local newspaper:

Dear Editor:

Several local acquaintances have expressed surprise at the American media’s avoidance of discussion of waste in government.  “Why would the media support government waste?” they wonder.

Wall Street and the banking industry benefit from interest and sales commissions generated by the issuance of treasury bonds, bills and notes.  The more government waste, the more spending, the more government debt, the more Wall Street profits.  The left has been more aggressive in expanding government and so Wall Street likes it better than the right. In 2009, the first year of the Obama administration, Obama significantly increased total federal spending as percentage of gdp by ten percent over the Bush administration.  This causes the federal government to issue more treasury securities.    

It is true that Wall Street loved Bush’s wars, but the waste of the Obama administration does it better.  Wall Street profits by dealing and banks profit by holding bonds, which they can sell to the Federal Reserve Bank in exchange for monetary reserves, a ten fold multiple of which they can lend to the public at interest.  Thus, a single treasury security can generate (a) sales commissions to brokers; (b) interest payments to banks; and (c) a means by which commercial bank loans and the money supply can be expanded up to ten times the amount of the bond. 

Who owns the media?  The same Wall Street firms and commercial banks that profit from the government bonds.  One can tell which party is better for Wall Street by the degree to which it receives support from the banker-owned media.  Virtually all television stations and newspapers support the Democrats.  Since they are banker owned (for instance, MS-NBC is owned by General Electric) the party that is best for Wall Street and the banking industry is clear.  The media would not support the Democrats if they were not the best party for Wall Street.  Chris Matthews is a good GE man.

The Democratic Party’s spirit is embodied in Paul Pelosi, a corrupt San Francisco business man who has benefited directly from a range of subsidies that have been adopted under the aegis of the Speaker of the House, his wife.  As well, a host of billionaires and multi-millionaires, to include Bill Gates, George Soros, Warren Buffett, Steven Spielberg and Larry Page, have advocated the agenda of Barack Obama.  Wall Street contributed to Obama two to one over McCain, a much better ratio than Bush received, and Obama has rewarded and will continue to reward them.  The recent  financial industry law is an example.

  

Sincerely,

Mitchell Langbert

Ulster County, NY Young Republicans Takes Action

I just received this press release from Erich Deagostino, president of the newly formed Ulster County Young Republicans:

The Ulster county Young Republicans have successfully organized.  A meeting was held on April 17 where bylaws where accepted and officers were elected.  This marks the beginning to a new era for Ulster County Republicans, as we begin work to expand our party while simultaneously bringing in new energy and fresh perspectives. A Second meeting was held on May 15 where goals and events will be proposed.

The Ulster county Young Republican club will serve as a forum to help Young Republicans train to run for office, campaign, and help senior Republicans understand the ideas and perceptions of today’s youth and young adults.  While giving students with conservative views a place of refuge from the corruption of our (single payer) education system.

The Ulster County Young Republicans will encourage young people in Ulster County to become involved in the political process by, assisting on campaigns, debating the issues that affect our community, giving of themselves to help move our community forward, involving themselves in our community to ensure good government, and helping to communicate the perspectives of the young to senior republicans. The Ulster County Young Republicans will not be a passive organization that looks in comfortable areas to grow. Instead, we will work proactively to target those often overlooked by the Republican Party and with each success set a documented example of how to expand the Republican Party in liberal regions of the nation and acting as a foot fold for national conservative organizations seeking to make progress in our region.

http://www.ulsteryr.com

EU Can Learn from South Carolina

Ron Holland has another excellent blog on the Lew Rockwell site.  Holland starts by noting:

"The state of South Carolina has been an independent republic and nation twice in history, first in March of 1776 and again in December of 1860. History here certainly shows how it is far easier to get into a political union than to get out again. In South Carolina, we have found that once in a voluntary union, the open door slams shut as political and monetary elites who benefit from this arrangement seldom give up their power to tax, inflate the currency, protect special interest monopoly rights and engage in mercantilism without fighting to retain their distant dictatorial controls."

Holland notes that just as the Civil War forced the South to be subjugated to the whims of the Federal Reserve Bank that was established 50 years later, so the European elite aims to force all of Europe to be subject to coercive, centralized banks and failed government institutions. 

The solution to today's economic failures is DECENTRALIZATION, not centralization. Holland posts several wonderful quotes from Benjamin Franklin and Walter Williams.  As he points out, the best run country in Europe, Switzerland, is a small country that itself is decentralized.  Why aren't the Europeans emulating them instead of the failed federal government of the USA?

Jon Voight Tells It Like It Is

H/t Patriot246.