The Irony of Franklin D. Roosevelt and America's Mainstream Publicists

The irony of Franklin D. Roosevelt is, of course, that Herbert Hoover and he took an economic downturn that should have taken two years to correct, and turned it into an eleven year drama. Then, the American media, historians and "Progressives" claimed that he was a hero for the drawn out harm that he caused.

Now, America has another opportunity to do harm to itself for even less reason than in the 1930s, and once again the dull witted American public buys every confidence scheme that Wall Street and its publicists offer.

I have come to the conclusion that a better term for "media" is "publicists". I had been using "pissant propagandists" but "publicists" captures the media's commitment to serving as a publicity department for America's third rate business community, inept banking community and of course the all-thumbs incompetents on Wall Street.

I have pretty much stopped following the acrobatics of America's moronic publicists and its dim witted discussion of the even dimmer witted "bailout". However, I am even more disturbed that the greedy, easily manipulated asses, apes woodpeckers and chimpanzees who constitute America's failed electorate have been granted the unlimited right to vote for representatives who adopt policies that neither representatives nor voters understand.

On Reconstructing The Idea of Capitalism

"I think...that the term 'capitalism' is an important one and that it should not only be retained but defended. We must clear away the rubble that has accumulated on this ancient citadel since Marx and Engels and Sombart wrote. As in the case of the excavation of Troy, only patience and devotion will permit us to triumph in the end. And the rubble is so heavy: dialectical revolution, rationalistic spirit, human exploitation, personal greed--all the cant, fury and misguided sentiment of one hundred years! The digging is worth our efforts, for at the bottom we shall find a system and a set of attitudes which have made possible material progress and the alleviation of human suffering. This system and attitudes we may as well call 'capitalism' and if we define it, for historical analysis, as the risk-taking function of private individuals (who, by the process--if they are successful--create capital) and the development and maintenance of sound fiscal policy by the state, I think we will able to save the term from the opprobrium from which it suffers."

L.M. Hacker, "The Anticapitalist Bias of American Historians" in F.A. Hayek, Capitalism and the Historians. Chicago: University of Chicago Press, 1954, p. 74.

Foreign Students No Longer View US As a Land of Opportunity

I had a long discussion with a someone who is a Chinese national on Saturday. The individual is a manager in a manufacturing firm in the New York City area and a weekend MBA student at NYU's Stern School of Business. This student mentioned to me that her Chinese expatriate friends regret coming to this country and are now thinking of returning to China because of America's declining economy, its incompetent policies and its unwillingness to confront its own decline.

Moreover, she was disturbed at the recent inflation of the American monetary base and the foolhardy bailout plan that the American mass media cheers. She said that hyper inflation has begun to afflict China, and the Chinese are not happy either with the American monetary policy or the fact that they are holding over one trillion dollars in treasury bonds.

Obviously, if the Chinese decide to sell some or all of the US bonds, there will be a dramatic decline in the dollar and hyper inflation as dollars return here. Over the long run factories would return here, but the adjustment would take decades.

In my view, the United States is no longer a free country. It is a slave state. Americans in many states, such as New York, pay more than one half of their earnings to the government. Only foolish slaves would be happy to live in this condition. Americans have become a nation who do not deserve the world's respect.

On May 13, 2008 I wrote a blog entitled "Chinese Tragedy Ahead". I wrote that:

'This country and China have squandered resources in stupid ways. The bubble will burst as all credit bubbles do. America may have enough resources to reassess its errors. The Chinese likely do not, and many there will be hurt."

They Said It Couldn't Be Done: A President Even Less Competent Than George W. Bush

Yes folks, they said it couldn't be done. How could two major parties representing 310 million people find a president even less competent than George W. Bush?

George W. Bush doubled the money supply and socialized banking. Barack H. Obama found a way to make Bush's incompetent bailout concept even worse---load it with graft, pork and stupidity. The Bush bailout was to be an economic disaster. The Obama bailout, a social cataclysm.