THE ENTERPRISE--THE TRUTH ABOUT THE ECONOMY AND YOU
SOMEONE ELSE'S PERSPECTIVE
Once again this week, THE ENTERPRISE will contain mostly the perspectives of people other than me. Of course, since I chose them, they pretty much agree with mine. On the other hand, these are people who are far removed from me either geographically or politically. They are, in my view, objective observers. I hope you see them that way.
====================
THE BRITISH PRESS SPEAKS THE TRUTH THAT GETS DISTORTED OR IGNORED BY AMERICAN MEDIA
AN EDITORIAL BY GERALD WARNER, IN THE TELEGRAPH, (UK)
Barack Obama and the CIA: Why Does President Pantywaist Hate America So Badly.
If al-Qaeda, the Taliban and the rest of the Looney Tunes brigade want to kick America to death, they had better move in quickly and grab a piece of the action before Barack Obama finishes the job himself. Never in the history of the United States has a president worked so actively against the interests of his own people - not even Jimmy Carter.
Obama's problem is that he does not know who the enemy is. To him, the enemy does not squat in caves in Waziristan, clutching automatic weapons and reciting the more militant verses from the Koran: instead, it sits around at tea parties in Kentucky quoting from the US Constitution. Obama is not at war with terrorists, but with his Republican fellow citizens. He has never abandoned the campaign trail.
That is why he opened Pandora's Box by publishing the Justice Department's legal opinions on waterboarding and other hardline interrogation techniques. He cynically subordinated the national interest to his partisan desire to embarrass the Republicans. Then he had to rush to Langley , Virginia to try to reassure a demoralised CIA that had just discovered thePresident of the United States was an even more formidable foe than al-Qaeda.
"Don't be discouraged by what's happened the last few weeks," he told intelligence officers. Is he kidding? Thanks to him, al-Qaeda knows the private interrogation techniques available to the US intelligence agencies and can train its operatives to withstand them - or would do so, if they had not already been outlawed.
So, next time a senior al-Qaeda hood is captured, all the CIA can do is ask him nicely if he would care to reveal when a major population centre is due to be hit by a terror spectacular, or which American city is about to be irradiated by a dirty bomb. Your view of this situation will be dictated by one simple criterion: whether or not you watched the people jumping from the twin towers...
President Pantywaist's recent world tour, cosying up to all the bad guys, excited the ambitions of America 's enemies. Here, they realised, is a sucker they can really take to the cleaners. His only enemies are fellow Americans. Which prompts the question: why does President Pantywaist hate America so badly?
AN EDITORIAL BY GERALD WARNER, IN THE TELEGRAPH, (UK)
Barack Obama and the CIA: Why Does President Pantywaist Hate America So Badly.
If al-Qaeda, the Taliban and the rest of the Looney Tunes brigade want to kick America to death, they had better move in quickly and grab a piece of the action before Barack Obama finishes the job himself. Never in the history of the United States has a president worked so actively against the interests of his own people - not even Jimmy Carter.
Obama's problem is that he does not know who the enemy is. To him, the enemy does not squat in caves in Waziristan, clutching automatic weapons and reciting the more militant verses from the Koran: instead, it sits around at tea parties in Kentucky quoting from the US Constitution. Obama is not at war with terrorists, but with his Republican fellow citizens. He has never abandoned the campaign trail.
That is why he opened Pandora's Box by publishing the Justice Department's legal opinions on waterboarding and other hardline interrogation techniques. He cynically subordinated the national interest to his partisan desire to embarrass the Republicans. Then he had to rush to Langley , Virginia to try to reassure a demoralised CIA that had just discovered thePresident of the United States was an even more formidable foe than al-Qaeda.
"Don't be discouraged by what's happened the last few weeks," he told intelligence officers. Is he kidding? Thanks to him, al-Qaeda knows the private interrogation techniques available to the US intelligence agencies and can train its operatives to withstand them - or would do so, if they had not already been outlawed.
So, next time a senior al-Qaeda hood is captured, all the CIA can do is ask him nicely if he would care to reveal when a major population centre is due to be hit by a terror spectacular, or which American city is about to be irradiated by a dirty bomb. Your view of this situation will be dictated by one simple criterion: whether or not you watched the people jumping from the twin towers...
President Pantywaist's recent world tour, cosying up to all the bad guys, excited the ambitions of America 's enemies. Here, they realised, is a sucker they can really take to the cleaners. His only enemies are fellow Americans. Which prompts the question: why does President Pantywaist hate America so badly?
==========================
DRIVING DEBT HIGHER AND FASTER THAN EVER BEFORE
If you have not visualized just how fast the current administration is running up debt, watch this little video. You will be amazed--(or maybe you won't). Then you'll be appalled. Whatever you feel, you will have a clearer understanding about why I titled a prior edition of THE ENTERPRISE "Living Beyond Our Means". This trip is "on the road to disaster." http://www.youtube.com/watch?v=P5yxFtTwDcc
WE NEED NEW, BETTER LEADERSHIP--CONGRESS IN 2010 WILL BE OUR FIRST CHANCE TO CHANGE THINGS
The question is, will enough of us say, "we've had enough" and replace many of the incumbents who are perpetrating these "crimes" against our Constitution and our Democracy? I can only hope so. Below is a more cooly considered, objective opinion on what's happened to our economy and what needs to be done to fix it. I hope oyu keep reading.
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THE REAL STATE OF THE UNION
Will Kaydos is a friend who has been studying what is wrong with our economy for several years. His book contains a wealth of information (but lots of charts and graphs which take some concentration to digest0. This is his first newsletter.
====================
From: "Will Kaydos" <[email protected]>
Date: May 29, 2009 10:09:04 AM EDT
To: "Concerned About Your Economic Future?" <[email protected]>
Subject: The Economy and You Report - Premier Issue
Dear Friend,
Welcome to the premiere issue of The Economy and You Report, the information letter of The Real State of the Union. Our letter will not rehash the news, but give you information, analysis and commentary not usually found in the mainstream media.
Our goals are to promote better understanding and debate about our economy, to stimulate your thinking, and perhaps to challenge some of your beliefs.
The Economy and You Report will focus on matters related to The Real State of the Union’s three interrelated primary objectives: rebuilding our economy, restoring our government’s fiscal integrity, and reclaiming our democracy.
The Real State of the Union favors no political party because we feel the public has been poorly served by our government for decades, our government is badly broken, and our democracy is far from what it should be. We see very few - if any - politicians of either party who place their country ahead of their personal and their party’s interests.
Important Notes
1. You received this email because I thought you would enjoy reading The Economy and You Report. To be removed from the mailing list, simply reply to this email with “Remove” in the subject line.
2. You don’t have to do anything to stay on the mailing list, but please register at www.rstu.org. There is no charge or obligation and your privacy will be protected.
3. Please forward this email to everyone you know who might enjoy reading The Economy and You Report. More subscribers will facilitate establishing a blog for exchanging ideas, conducting surveys, and putting pressure on Congress to at least try to do what’s best for our country.
4. The Economy and You Report is a work-in-progress. Please help make it a better publication by providing frank feedback to [email protected].
5. All material in The Economy and You Report is copyrighted, but articles and other notes may be used in other publications providing proper credit is given to The Economy and You Report and The Real State of the Union.
Thank you for your time and consideration.
Will Kaydos
[email protected]
----------------------------------------
May 28,2009
Is that light we see the end of the tunnel or a freight train coming our way?
A few small positive signs about our economy have raised hopes on Main Street, Wall Street, and Pennsylvania Avenue, but getting worse at a slower rate is still a long way from recovery. If we bottom out this year, anyone expecting a significant recovery in 2010 or 2011 will probably be very disappointed.
Why? Simply because correcting the excesses of the past 20-30 years can’t be accomplished in a year or two without divine help. More specific reasons include the following.
§ Many big and small banks are still not on firm ground and it seems very unlikely all the problems in the banking system are known. Future home mortgage resets will add to foreclosures as will losses on credit cards, consumer credit, and commercial real estate. Some analysts are saying the future holds as many problems for bankers as are already behind them.
§ Real estate prices are still declining in most markets and there is a huge inventory of unsold and foreclosed homes.
§ Wages are declining in many parts of the work force while consumer credit is tightening and banks are raising fees. Lower wages, less credit and higher credit costs mean lower consumer spending.
§ Many indicators say the mindset of consumers has shifted into a lower gear. The assumption that “I can buy it today and pay for it tomorrow” has vanished from the brains of a great many people.
§ The problems with banks, credit, and recession are worldwide. With a few exceptions, everyone’s hurting and the thought that everyone can borrow from everybody else to prop up their economy doesn’t make sense. Worldwide inflation and more financial instability are distinct possibilities for the not-too-distant future.
No one can foretell the future, but it seems the best we can hope for is to relieve most of the fear and uncertainty caused by the bursting credit bubble and for a modest recovery to begin in the next 6-12 months. Relieving severe pain is not the same as restoring someone’s health.
The following article gives some clues about what we must do to rebuild our economy.
Economic Reality 101
Politicians and economists are proposing all sorts of remedies for resurrecting our economy, but to build a stronger economy, we must create real economic growth, not just provide temporary relief with borrowed money so we can dig the hole we are already in a lot deeper.
There are no simple cures for what ails our economy, but there are some time-tested economic principles that Congress, the White House, and all Americans must keep in mind when deciding what we must do to rebuild our economy.
A country cannot perpetually consume more than it produces.
A country cannot borrow and spend itself into prosperity. However, like a business, a country can borrow and invest in programs that will produce a positive net return on investment.
Every dollar our government spends must come from current taxes or future taxes. Reducing taxes without reducing spending just passes the bill for today’s spending on to future generations.
Tax cuts to support consumer spending do not pay for themselves. Just ask history, the Congressional Budget Office or any serious economist who isn’t running for office.
Someone always pays the principal and interest on a loan. It should be the borrower, but it may be the lender or, as we are seeing today, current and future taxpayers.
If our government prints money faster than we increase the wealth we produce, inflation will be the inevitable result - and inflation can ruin any economy.
Our government cannot rebuild our economy. Government policies can facilitate business development, but private businesses built our economy, and only private businesses can rebuild it.
The fundamental problem with our economy is that for most of the past thirty years we have been consuming more than we have been producing and borrowing to make up the difference. It was fun while it lasted, but our personal debt has finally caught up with us and our government’s debt is knocking on the door.
Some short-term stimulus is appropriate to help restore confidence in financial markets, businesses and consumers, but government spending must emphasize investment and business development instead of consumer spending. Propping up consumer spending with borrowed money did not fundamentally strengthen our economy in the past and it won’t work this time around either.
Congress must recognize economic reality and not spend taxpayers’ money on anything that doesn’t pass through the filter of being necessary, a good investment, or providing some relief to those in need. A great deal of spending contained in the stimulus package and the budget approved by Congress fails to satisfy these standards. However, it is not too late to change and Congress can change anything it wishes.
Our economic future can be as bright as we Americans want it to be, but we will have to earn it, not borrow it. The only way we can earn it is by building private businesses with investment, innovation, and hard work.
There is no doubt we can do it. All we lack is political leaders in both parties who can recognize economic reality - and who have the courage to make the hard decisions that are best for our country instead of doing what’s best for themselves and their party.
----------------------------------------
Fair Game Department
The image below has been floating around the web lately. It’s good satire - and I don’t like many aspects of Obama’s stimulus and budget plans - but when it comes to practicing sound economics, the Republicans have little claim to fame.
The economic theories advanced by Republican politicians since 1980 include the following gems.
§ Voodoo Economics – You can spend the same dollar three times. {Only if you have Bernie Madoff or Ken Lay as your accountant.}
§ Starve the Beast – The way to reduce government spending is to reduce taxes instead of reducing spending. {What happened? Taxes were cut, government spending increased, and debt soared.}
§ The Tax Fairy – Tax cuts will pay for themselves. {They didn’t - and they won’t unless there is a radical shift in government spending and policy.}
§ Trickle-down Economics – Making rich people richer will increase the income of the people on the middle and lower rungs of the economic ladder. {What happened? The river at the top was barely a dribble by the time it got to the bottom.}
§ Free Money - Budget deficits don’t matter. {But they matter very much and so does our national debt.}
§ The Inverse Parallel Universe – Excessive spending and budget deficits by Democrats is bad, but when Republicans do it, it’s good. {Political posturing garbage.}
§ Only Words Matter – Fiscal responsibility depends on what you say, not what you do. {Only true in the minds of the politically brainwashed, the factually disadvantaged, and most of the residents of Capitol Hill.}
The Democrats have their share of lame-brained self-serving theories as well, including the belief that any social problem can be solved by throwing money at it. However, getting into those issues will have to wait until later. The primary lesson to be learned from this sermon is that someone else being wrong doesn’t necessarily make you right. Another lesson is that people who live in glass houses shouldn’t throw stones.
----------------------------------------
Thought for Today
The stock market meltdown should make everyone wonder why they should trust anything coming out of the mouths of Wall Street pundits. The bull in Merrill Lynch’s logo seems especially appropriate today - but the wrong end is facing the audience. Rumor has it Merrill’s new slogan will be: “Trust us. We can’t manage our own money, but we can manage yours.”
Announcements
1. More features will be added to The Real State of the Union’s web site (www.rstu.org) over the next several weeks such as links to good sources of information and references to noteworthy articles.
2. If you don’t know what’s in Thin Ice – and Melting, you know very little about our economy and much of what you “know” may be wrong. Normally $23.95, the price is reduced to only $16.95 until July 15, 2009 (prices include shipping and applicable taxes).
Please send your comments about The Economy and You Report to [email protected].
Work hard, play hard, help someone who needs it, and remember to count the day lost that you don’t learn something new.
Regards,
Will Kaydos
The Real State of the Union, LLC
Save your country! Save your job!
www.RSTU.ORG
7204 Penny Road
Raleigh, NC 27606
Office: 919-851-9679
Email: [email protected]
Date: May 29, 2009 10:09:04 AM EDT
To: "Concerned About Your Economic Future?" <[email protected]>
Subject: The Economy and You Report - Premier Issue
Dear Friend,
Welcome to the premiere issue of The Economy and You Report, the information letter of The Real State of the Union. Our letter will not rehash the news, but give you information, analysis and commentary not usually found in the mainstream media.
Our goals are to promote better understanding and debate about our economy, to stimulate your thinking, and perhaps to challenge some of your beliefs.
The Economy and You Report will focus on matters related to The Real State of the Union’s three interrelated primary objectives: rebuilding our economy, restoring our government’s fiscal integrity, and reclaiming our democracy.
The Real State of the Union favors no political party because we feel the public has been poorly served by our government for decades, our government is badly broken, and our democracy is far from what it should be. We see very few - if any - politicians of either party who place their country ahead of their personal and their party’s interests.
Important Notes
1. You received this email because I thought you would enjoy reading The Economy and You Report. To be removed from the mailing list, simply reply to this email with “Remove” in the subject line.
2. You don’t have to do anything to stay on the mailing list, but please register at www.rstu.org. There is no charge or obligation and your privacy will be protected.
3. Please forward this email to everyone you know who might enjoy reading The Economy and You Report. More subscribers will facilitate establishing a blog for exchanging ideas, conducting surveys, and putting pressure on Congress to at least try to do what’s best for our country.
4. The Economy and You Report is a work-in-progress. Please help make it a better publication by providing frank feedback to [email protected].
5. All material in The Economy and You Report is copyrighted, but articles and other notes may be used in other publications providing proper credit is given to The Economy and You Report and The Real State of the Union.
Thank you for your time and consideration.
Will Kaydos
[email protected]
----------------------------------------
May 28,2009
Is that light we see the end of the tunnel or a freight train coming our way?
A few small positive signs about our economy have raised hopes on Main Street, Wall Street, and Pennsylvania Avenue, but getting worse at a slower rate is still a long way from recovery. If we bottom out this year, anyone expecting a significant recovery in 2010 or 2011 will probably be very disappointed.
Why? Simply because correcting the excesses of the past 20-30 years can’t be accomplished in a year or two without divine help. More specific reasons include the following.
§ Many big and small banks are still not on firm ground and it seems very unlikely all the problems in the banking system are known. Future home mortgage resets will add to foreclosures as will losses on credit cards, consumer credit, and commercial real estate. Some analysts are saying the future holds as many problems for bankers as are already behind them.
§ Real estate prices are still declining in most markets and there is a huge inventory of unsold and foreclosed homes.
§ Wages are declining in many parts of the work force while consumer credit is tightening and banks are raising fees. Lower wages, less credit and higher credit costs mean lower consumer spending.
§ Many indicators say the mindset of consumers has shifted into a lower gear. The assumption that “I can buy it today and pay for it tomorrow” has vanished from the brains of a great many people.
§ The problems with banks, credit, and recession are worldwide. With a few exceptions, everyone’s hurting and the thought that everyone can borrow from everybody else to prop up their economy doesn’t make sense. Worldwide inflation and more financial instability are distinct possibilities for the not-too-distant future.
No one can foretell the future, but it seems the best we can hope for is to relieve most of the fear and uncertainty caused by the bursting credit bubble and for a modest recovery to begin in the next 6-12 months. Relieving severe pain is not the same as restoring someone’s health.
The following article gives some clues about what we must do to rebuild our economy.
Economic Reality 101
Politicians and economists are proposing all sorts of remedies for resurrecting our economy, but to build a stronger economy, we must create real economic growth, not just provide temporary relief with borrowed money so we can dig the hole we are already in a lot deeper.
There are no simple cures for what ails our economy, but there are some time-tested economic principles that Congress, the White House, and all Americans must keep in mind when deciding what we must do to rebuild our economy.
A country cannot perpetually consume more than it produces.
A country cannot borrow and spend itself into prosperity. However, like a business, a country can borrow and invest in programs that will produce a positive net return on investment.
Every dollar our government spends must come from current taxes or future taxes. Reducing taxes without reducing spending just passes the bill for today’s spending on to future generations.
Tax cuts to support consumer spending do not pay for themselves. Just ask history, the Congressional Budget Office or any serious economist who isn’t running for office.
Someone always pays the principal and interest on a loan. It should be the borrower, but it may be the lender or, as we are seeing today, current and future taxpayers.
If our government prints money faster than we increase the wealth we produce, inflation will be the inevitable result - and inflation can ruin any economy.
Our government cannot rebuild our economy. Government policies can facilitate business development, but private businesses built our economy, and only private businesses can rebuild it.
The fundamental problem with our economy is that for most of the past thirty years we have been consuming more than we have been producing and borrowing to make up the difference. It was fun while it lasted, but our personal debt has finally caught up with us and our government’s debt is knocking on the door.
Some short-term stimulus is appropriate to help restore confidence in financial markets, businesses and consumers, but government spending must emphasize investment and business development instead of consumer spending. Propping up consumer spending with borrowed money did not fundamentally strengthen our economy in the past and it won’t work this time around either.
Congress must recognize economic reality and not spend taxpayers’ money on anything that doesn’t pass through the filter of being necessary, a good investment, or providing some relief to those in need. A great deal of spending contained in the stimulus package and the budget approved by Congress fails to satisfy these standards. However, it is not too late to change and Congress can change anything it wishes.
Our economic future can be as bright as we Americans want it to be, but we will have to earn it, not borrow it. The only way we can earn it is by building private businesses with investment, innovation, and hard work.
There is no doubt we can do it. All we lack is political leaders in both parties who can recognize economic reality - and who have the courage to make the hard decisions that are best for our country instead of doing what’s best for themselves and their party.
----------------------------------------
Fair Game Department
The image below has been floating around the web lately. It’s good satire - and I don’t like many aspects of Obama’s stimulus and budget plans - but when it comes to practicing sound economics, the Republicans have little claim to fame.
The economic theories advanced by Republican politicians since 1980 include the following gems.
§ Voodoo Economics – You can spend the same dollar three times. {Only if you have Bernie Madoff or Ken Lay as your accountant.}
§ Starve the Beast – The way to reduce government spending is to reduce taxes instead of reducing spending. {What happened? Taxes were cut, government spending increased, and debt soared.}
§ The Tax Fairy – Tax cuts will pay for themselves. {They didn’t - and they won’t unless there is a radical shift in government spending and policy.}
§ Trickle-down Economics – Making rich people richer will increase the income of the people on the middle and lower rungs of the economic ladder. {What happened? The river at the top was barely a dribble by the time it got to the bottom.}
§ Free Money - Budget deficits don’t matter. {But they matter very much and so does our national debt.}
§ The Inverse Parallel Universe – Excessive spending and budget deficits by Democrats is bad, but when Republicans do it, it’s good. {Political posturing garbage.}
§ Only Words Matter – Fiscal responsibility depends on what you say, not what you do. {Only true in the minds of the politically brainwashed, the factually disadvantaged, and most of the residents of Capitol Hill.}
The Democrats have their share of lame-brained self-serving theories as well, including the belief that any social problem can be solved by throwing money at it. However, getting into those issues will have to wait until later. The primary lesson to be learned from this sermon is that someone else being wrong doesn’t necessarily make you right. Another lesson is that people who live in glass houses shouldn’t throw stones.
----------------------------------------
Thought for Today
The stock market meltdown should make everyone wonder why they should trust anything coming out of the mouths of Wall Street pundits. The bull in Merrill Lynch’s logo seems especially appropriate today - but the wrong end is facing the audience. Rumor has it Merrill’s new slogan will be: “Trust us. We can’t manage our own money, but we can manage yours.”
Announcements
1. More features will be added to The Real State of the Union’s web site (www.rstu.org) over the next several weeks such as links to good sources of information and references to noteworthy articles.
2. If you don’t know what’s in Thin Ice – and Melting, you know very little about our economy and much of what you “know” may be wrong. Normally $23.95, the price is reduced to only $16.95 until July 15, 2009 (prices include shipping and applicable taxes).
Please send your comments about The Economy and You Report to [email protected].
Work hard, play hard, help someone who needs it, and remember to count the day lost that you don’t learn something new.
Regards,
Will Kaydos
The Real State of the Union, LLC
Save your country! Save your job!
www.RSTU.ORG
7204 Penny Road
Raleigh, NC 27606
Office: 919-851-9679
Email: [email protected]
==========================
THANKS TO WILL FOR SHINING A BRIGHT LIGHT ON THE FACTS
Neither political party comes out standing tall in this mess. It is just that the current regime is making a bad situation worse under the auspices of "fixing the economy," when in fact they are using it for a "BIG GOVERNMENT" power grab that will last for years--or more. If you like having the government take care of you, and tell you what you can do and when, and how, and then tax you liberally (if you are fortunate to make much money), then you'll love the next decade. If not--watch out. It will be a living hell for independent, free enterprise, freedom loving Americans. And even the Constitution is not slowing them down much. They just brush it aside--even worse than the Bushies did!
Wanting to and waiting for a chance to change our elected officials,
JOHN
==========================
"Government is supposed to work for the people; not vice versa."
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