Economics

Cost of Bailout Thusfar: Biggest US Gubment Expenditure in History

Big thanks to Manuel Lora for grabbing this from LewRockwell.com, and passing it on!

You will find this stunning, enlightening, and a bad harbinger for US economics.

http://www.lewrockwell.com/blog/lewrw/archives/024178.html

Bernanke Admits - "DUH, I Might've Been Wrong About That 'It's Sector-Specific' Thing"

Remember when Gard and others on his show were talking about how daft if was for Bernanke to be saying that the "financial crisis was isolated only to the housing markets"? Remember how that might have inspired you to think that Bernanke was a dangerous man in a dangerous position?

Yep. You were right.

http://biz.yahoo.com/ap/081123/bernanke_meltdown.html

NOW Benny is saying he might've been wrong. Duh.

US Officials Flunk ISI Test on US History, Economics, Civics

You can take the test, too (thanks to Webby, a visitor to www.repairmanjack.com, who discovered the quiz). There ARE some areas where one might quibble with the premises of the question, but on the whole, it's a good bit of fun.

Here is the piece, posted late last night by Yahoo News.

http://news.yahoo.com/s/afp/20081120/od_afp/ushistoryeducationoffbeat

The link to the ISI website is inside the article. Take a look!

Geithner to Be Next Secretary of the Treasaaahhhh...

If anyone had been cold-clocked in the head, and was wondering what approach Obama would take on the money supply, government intervention in the free market, and special favors for "special" interests, he prob-o-ly got his answers yesterday, when Barry named a guy called Geithner to be the next Secretary of the Treasahhhhhh (as the P-Funk All Stars put it). Not a good sign.

A Very Good Piece on the "Gold Standard", from an Unlikely Source!

... it's from, of all places, the "Christian Science Monitor"!

Big thanks to Wayne, for spotting this!

http://www.csmonitor.com/2008/1115/p09s01-coop.html

Dow Drops Below 8,000 For First Time in 5 Yrs., Obama's Record on Firearms

Despite all the jerry-rigging by the feds, the stock market continues to drop. SO WE'D BETTER FLOOD IT WITH MORE USELESS MONEY!

http://www.breitbart.com/article.php?id=D94I822O0&show_article=1

And for those of you who know Obamistas, or whatever the supporters are called, ask them about this information:

http://www.lewrockwell.com/suprynowicz/suprynowicz104.html

News Update for 11-17-08 - Rumor: Ian Freeman Released after 3 Days (pressure on court?), Auto Bailout Looms,

We'll let you know later tonight about Ian. Go to www.freetalklive.com for more information, and to www.nhfree.com to get updates.

Here's the story on the Auto Bailout (part 2): http://money.cnn.com/2008/11/17/news/companies/gm_showdown/?postversion=...

And here is a nice little piece on Treasuuuuure Sec Paulsen!

http://www.tulsaworld.com/news/article.aspx?articleID=20081116_16_A1_hHe...

Seems Sen Inhoff isn't happy with Hank.

Gard has this all covered in his latest broadcast!

Grab it!

News Stories for Friday, November 14 -- Watch Yer Wallets!

First order of business: Gardner thanks all of you who have sent cards and e-mails, messages in facebook, and who visited the memorial service in honor of his mom. It was a terrific gathering, and went off smoothly. All who attended showed great affection for a great woman. Thank you.

Now, onto the fight against gubment oppression and economic sophistry!

Take a look at this one, kids. And enjoy the fruits of your labor while the politicians plan things with what you make! Hank Paulsen is your FRIEND, FRIEND.... Remember that now.

Fed Chair and Treasuuuuuure Sec. Will Not Allow Transparency on Bailout $ - AIG Gets Nearly Twice As Much As in First Bailout

Take a look at this, from Bloomberg. Gard referred to it on the latest podcast (11-10-08).

Here is the opening of the text:

" Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Obama to Employ "Executive Orders" to Implement Policy -- Welcome to the Imperial Presidency.

Executive orders are routinely used by Presidents to give them the ability to enact de-facto laws without Congress bothering with all that untidy stuff of actually PASSING laws, and without that burdensome document... Hmm, what was it called? I seem to remember, but I was hanging out with Hamilton Bergeron's parents. Oh yeah, the CONSTITUTION!

George Selgin On Greenspan's Culpability!

If you can, check out Selgin's "Less Than Zero", a keen work on the benefits of a free banking system that would see productivity gains actually leading to increases in the value of money. published a few years ago.

Here is his take on a recent debate, one regarding how much Alan Greenspan is to blame for the financial crisis...

http://www.lewrockwell.com/orig9/selgin3.html

News: More Details on "Bailout" - Taxpayers May Foot Bills for Bankers' Legal Woes

And there's so much more! Remember as you read that there are already laws on the books to handle potential fraud. This is not about fraud. It's mostly about scapegoating, trying to turn attention away from the US government policies and politicians that inspired Fannie Mae, Freddie Mac, the Federal Reserve, the so-called "Ownership Society" and the Community Reinvestment Act. But it's still a goofy example of the unintended consequences of government policy.

Take a gander: http://news.yahoo.com/s/ap/20081106/ap_on_go_ca_st_pe/meltdown_who_pays

Obama Achieves a First - Wins Election for US President after Openly Calling for Skirting of Constitution

Yes, "we" can, folks.

"America has come so far, we have seen so much, but there's so much more to do..."

Barack Obama has beaten the "Constitutional Scholar". What can we expect from the coming administration?

With the help of an even more powerful Democrat party in Congress, Obama plans on nationalizing the last remnants of the health care industry that aren't already under federal control.

Uncovered Audio From Jan, 2008: Obama Says He Will Bankrupt New Coal Power Plant Endeavors

In January of 2008, Barack Obama sat down for an interview with a San Francisco radio station, and this is a transcript of what he had to say about new coal power plants coming on line in the future:

"Let me sort of describe my overall policy.

"What I've said is that we would put a cap and trade system in place that is as aggressive, if not more aggressive, than anybody else's out there.

Tom diLorenzo does It AGAIN! See His Excellent Piece on Obama and McCain, the "Socialist and the National Socialist"!!!

http://www.lewrockwell.com/dilorenzo/dilorenzo155.html

DiLorenzo has been a friend to the Liberty Conspiracy and Gard's show on numerous occasions. Look for Tom's new book, "Hamilton's Curse", at amazon.com!

Glenn Jacobs was on the ball about it. It was just released! GET IT!!! (And Gard's awesome book, too!)

cover of Hamilton's Curse: How Jefferson's Arch Enemy Betrayed the American Revolution--and What It Means forHamilton's Curse: How Jefferson's Arch Enemy Betrayed the American Revolution--and What It Means for

BLOG OF BILE - Excellent Economic and Political Analysis, the Blog of Bile! We LOVE This Site!

Anyone who studies Hoppe is high on our list of heroes. Visit this site often. It's an honor to have them as part of the conspiracy for freedom.

Free Markets, Free Minds! REASON!

Visit the famous Reason website often! Check out ReasonTV!

DC Under Dems Will Try to Nationalize 401K Savings, Ted "Series of Tubes" Stevens CONVICTED! Dolphins Owner to Sell Before Obama

So, have you been looking for a way to attract the attention of friends who are more interested in touchdowns than political and philosophical ideology? How about this? The owner of the Miami Dolphins wants to sell the team before Obama is sworn in, because he knows he will have more of his well-earned cash taken by the gubment. Smart man. http://www.sun-sentinel.com/sports/football/pro/dolphins/sfl-flspdolwayn...

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