Krugman: Death Panels & Sales Taxes

Not the way he advocated for ObummerCare. I’ll leave it to the viewer to determine when he lied, then or now. And why?

The Difference between Economic Shools

I have been trying to come up with a very short easily remembered summation of the differences between the major schools of economic thought. If you like it pass it along.

There are two major schools of economic thought, the London and the Austrian. The London School is hundreds of theories addressing how political power can manage an economy. The Austrian School explains how the actual human interaction that comprises an economy works.

Perfidy, The Dishonest Budget Numbers

Dan Mitchell Discussing Dishonest Budget Numbers with John Stossel – YouTube.

The crooks in DC have created a system that allows them to claim they’re cutting the budget when the burden of government spending actually is rising.

This sleazy system is designed in part to deceive the American people, and the current squabbling over the fiscal cliff is a good example. The President claims he has a “balanced approach” that involves budget cuts, but look at the second chart at this link and you will see that he’s really proposing bigger government.

This dishonest approach also was used by the President’s Fiscal Commission and last year’s crummy debt limit deal was based on this form of fiscal prevarication.

Here are some key excerpts from a Wall Street Journal editorial exposing this scam.

…

President Obama and John Boehner are playing by the dysfunctional Beltway rules. The rules work if you like bigger government, but Republicans need a new strategy, which starts by exposing the rigged game of “baseline budgeting.” …numbers have no real meaning because they are conjured in the wilderness of mirrors that is the federal budget process. Since 1974, Capitol Hill’s “baseline” has automatically increased spending every year according to Congressional Budget Office projections, which means before anyone has submitted a budget or cast a single vote. Tax and spending changes are then measured off that inflated baseline, not in absolute terms. …Democrats designed this system to make it easier to defend annual spending increases and to portray any reduction in the baseline as a spending “cut.” Chris Wallace called Timothy Geithner on this “gimmick” on “Fox News Sunday” this week, only to have the Treasury Secretary insist it’s real. …in the current debate the GOP is putting itself at a major disadvantage by negotiating off the phony baseline. …If Republicans really want to slow the growth in spending, they need to stop playing by Beltway rules and start explaining to America why Mr. Obama keeps saying he’s cutting spending even as spending and deficits keep going up and up and up.

You probably won’t be surprised to learn that other nations rely on this crooked system, most notably the United Kingdom, which supposedly is imposing “savage” cuts even though government spending keeps rising (and they fooled Paul Krugman, though he seems to make a habit of misreading foreign fiscal and economic data).

The Economy Is Going To Implode Pt.8 of 8

Workbook PDF at: https://dl.dropbox.com/u/32961642/EconomicCollapseWorkbook.pdf

Part Eight Topics

More Lies From Lying Politicians

The Impossibility of Financial Planning Products and “Returns”

Why Inflating Debt Away is Impossible

The New Financial Objective: Holding Wealth Together and Minimizing LOSSES

There is Nowhere to Run

The Need to Position Into Physical Commodities

Quo Vadis? Where Are You Going?

via The Economy Is Going To Implode Pt.8 of 8 – YouTube.

The Economy Is Going To Implode Pt.7 of 8

Workbook PDF at: https://dl.dropbox.com/u/32961642/EconomicCollapseWorkbook.pdf

Part Seven Topics:

WHO is doing these exotic and risky derivatives?

Review of top banks’ assets versus derivatives exposure

High Frequency Trading Scope & Solution

U.S. Government Unfunded Liabilities

The destructive nature of non-catastrophic insurance

Lies from Politicians

via The Economy Is Going To Implode Pt.7 of 8 – YouTube.

The Economy Is Going To Implode Pt.6 of 8

Workbook PDF at: https://dl.dropbox.com/u/32961642/EconomicCollapseWorkbook.pdfPart Six Topics:Credit Default Swaps ContinuedRepos and Reverse ReposWhy are These Exotic Products Being Traded So Widely?Review of 90 Day T-Bill Rates 2007-2012

via The Economy Is Going To Implode Pt.6 of 8 – YouTube.

The Economy Is Going To Implode Pt.5 of 8

Workbook PDF at: https://dl.dropbox.com/u/32961642/EconomicCollapseWorkbook.pdf

Part Five Topics:

Wealth Transfer: European Context

Wealth Transfer: U.S. Context

The Bribing Set-up of the Underclass by the Regime in Preparation for Mass Slaughter

Secession Dynamics

Credit Default Swaps

via The Economy Is Going To Implode Pt.5 of 8 – YouTube.

The Economy Is Going To Implode Pt.4 of 8

Workbook PDF at: https://dl.dropbox.com/u/32961642/EconomicCollapseWorkbook.pdf

Part Four Topics:

One Dollar of Capital Banking Paradigm

Denninger Axiom & Chart — Debt and GDP Change since 1980

The Debt Cycle — A Snake Eating Its Tail

Intelligent People Must Reassert Themselves as the Leaders of Society

The Rule of Law and Justice Must Be Reasserted

via The Economy Is Going To Implode Pt.4 of 8 – YouTube.

A Familiar Political Platform

All citizens must possess equal rights and duties.

The first duty of every citizen must be to work mentally or physically. No individual shall do any work that offends against the interest of the community to the benefit of all.

Since every war imposes on the people fearful sacrifices in blood and treasure, all personal profit arising from the war must be regarded as treason to the people. We therefore demand the total confiscation of all war profits.

We demand the nationalization of all trusts.

We demand profit-sharing in large industries.

We demand a generous increase in old-age pensions.

We demand the creation and maintenance of a sound middle-class,

We demand an agrarian reform in accordance with our national requirements

We stand against those who work to the injury of the common welfare.

We will make it possible for every resident to obtain higher education

The State has the duty to help raise the standard of national health by providing healthcare.

We demand the abolition of the regular (volunteer) army and the creation of a national (draft) army.

We demand that there be a legal campaign against those who propagate deliberate political lies and disseminate them through the media.

We demand freedom from all religious faiths in the state

COMMON GOOD BEFORE INDIVIDUAL GOOD

In order to carry out this program we demand: the creation of a strong central authority in the State, the unconditional authority by the political central parliament of the whole State and all its organizations.

I usually observe Godwin’s law, but “When the shoe fits”, throw it.

These platform planks were lifted (with very minor alteration, such as substituting “healthcare” for “maternity care”) from the official platform of the National Socialist German Workers Party. (Nazi Party for those with recent educations)

Supporters of Communism, or of socialism in general, like to pretend that Nazism was not socialist but “right wing”.

It was common in those days, as it is in ours, to identify the Communists as leftist and the Nazis as rightists, as if they stood on opposite ends of the ideological spectrum. But Ludwig von Mises knew differently. They both sported the same ideological pedigree of socialism. “The German and Russian systems of socialism have in common the fact that the government has full control of the means of production. It decides what shall be produced and how. It allots to each individual a share of consumer’s goods for his consumption.”
The difference between the systems, wrote Mises, is that the German pattern “maintains private ownership of the means of production and keeps the appearance of ordinary prices, wages, and markets.” But in fact the government directs production decisions, curbs entrepreneurship and the labor market, and determines wages and interest rates by central authority. “Market exchange,” says Mises, “is only a sham.”

The Economy Is Going To Implode Pt.3 of 8

Workbook PDF at: <a href='https://dl.dropbox.com/u/32961642/EconomicCollapseWorkbook.pdf

Part Three Topics:

Sample Bank Balance Sheet Continued

The Lie of FDIC Deposit Insurance

via The Economy Is Going To Implode Pt.3 of 8 – YouTube.