Whew… A long week for me last week. Traveling, working, and spending time with my son. It left me little time to pursue my passion of writing here at SUFA. But now I am back to work on the site for a couple weeks until I have to travel again for two weeks. Tonight I want to talk about something that I have been wanting to talk about all week. I want to tread into the realm of financial reform and financial responsibility as put forth by our federal government. This article is going to address some things, mostly done by the Obama administration, but really simply pertains to our federal government in general. To be honest, the words fiscal and responsibility should not even be allowed to be used in the same sentence with federal government, unless it is done to point out a lack of it. The sheer magnitude of fiscal ineptitude displayed by the federal government is staggering, and it has now pushed us both to the edge of financial disaster and to the brink of full government control over the private industry in the United States. This is both infuriating and scary as hell. And I have to say that I have taken one step closer to believing a rebellion is the only answer.
First there is the financial reform bill that has been passed and signed into law during this last week. According to the Obama administration, the bill creates a body within the Federal Reserve aimed at protecting consumers, oversight of the derivatives market, and a way for the government to take over and dismantle failing financial firms. Read that last one carefully folks, TAKE OVER AND DISMANTLE failing financial firms. In other words, we are being asked to trust the federal government to determine who to dismantle and who to let live. Is there anyone in America who is not a far left kool-aid drinker who believes that this is going to be done in an impartial manner? Because I don’t believe that for a second. And let me tell you why:
I watched as the Troubled Asset Relief Fund was administered, “saving” those few big banks who were deemed “too big to fail”, allowing all the small banks to perish along the way. The “too big to fail” got BIGGER and the end result was something that I knew instinctively was bad for our future: Centralization. Anyone who understands control and how the government intends to enforce also understands that a primary need is to centralize the power over the economy in a way that will make them easier to control. They can’t control a hundred million independent banks, but they can easily control things if they consolidate power into ten superbanks. And that is what they have done.
Further, the financial reform bill does very little in the way of reforming anything. It merely gave the government power to do whatever it likes. The real work is yet to be done. The body created by the legislation will now quietly go about creating whatever rules and regulations that it likes without regard to public opinion or scrutiny. After all, now that Congress is done doing the public “work”, the committee can do what it likes, and no one will be paying attention. They won’t answer to anyone. There will be little to no oversight of what they do. Further intrusions into the private marketplace can now occur without anyone knowing a thing about it until they are implemented, which means too late to stop them.
What else is going to happen as a result of the financial reform bill that has passed? To be honest, there is a lot that we don’t know, because as usual, they took 2,300+ pages to basically set up a committee that will figure out the rest of the steps. Of course that is because of the pork involved and the other areas that they wanted to address. For example, the bill will require thousands of U.S. companies to show what steps they are taking to ensure that the products they make, including laptops, cellphones and medical devices, don’t contain “conflict minerals” from the Congo. That will have a fairly dramatic impact on manufacturing in America, as one fifth of the Tantalum used in those devices worldwide comes from the Congo. The law contains no provisions for punishment yet, but they are already talking in Washington about sanctions and penalties. Why would any company want to manufacture in this country, where they spend more in reporting and taxes than they do in labor and materials?
What this bill will really do is further allow for the manipulation of the market by both the federal government and the large corporations who are involved. Wall Street gains extra time and ability to manipulate regulations quietly in back room deals. Or to put it more bluntly, the corporations that only have the ability to manipulate the market because of government, have now been given additional resources to manipulate the market. DC insiders will have the ability to influence the failure or flourishing of organizations based on loyalty and campaign contributions. Is there really anyone other than the kool-aid drinkers who really believe that the federal government would pass a bill that did anything other than give themselves more power, influence, and ability to profit from industry in America?
And just to add a little fire to the one world government conspiracy folks, there is the reality that the government sees the bill as a robust way to work towards that. There are many provisions in the legislation that are based on world economic decisions by groups such as the G20 or the United Nations. In fact, Treasury Thief Timothy Geithner came right out and said so, albeit in a round about way when bragging on the influence that the bill gives us. He said, “I am very confident with the strong hand that this (the legislation just passed) gives us, that we will be able to bring the world with us.”
I must say that I am further troubled with this concept that the world economy is what is important. It isn’t that I don’t see the interplay between the world’s economy and ours. It is that I don’t see it as our responsibility to prop up the world or to take steps that hurt ourselves in order to better the situation globally. On the contrary, I believe that as one of the largest economies in the world, we can set the pace by doing what is best for US, and if we do it correctly, the rest of the world will benefit from a strong American economy. Obviously, the idiot Keynesians don’t believe this to be true. They first falsely believe that they can control the economy with their madness and regulations. They second falsely believe that we must suffer for the betterment of the world.
And herein lies my issue with how all of the financial stuff has played out over the last couple of years. Obviously there has been trouble, but I believe that the trouble has been caused by the federal government’s ineptness when it comes to the economy. They truly believe that it is government that makes the economy happen. They truly believe that they are the ones who make things run smoothly or not. And they couldn’t be further from the truth. The market did just fine for a very long time with minimal government interference. Government intrusion into the market has slowly and efficiently killed the economy of the United States. Remember what I said last week: Government cannot create wealth, they can only steal it and redistribute it. Only private enterprise can create wealth and grow the economy. That is a fact, despite the lies coming out of Washington DC.
And since government absolutely cannot create wealth and cannot grow an economy, the fact is that the only way for things to begin to turn around in America is for the government to begin getting out of the way of private industry in this country. I don’t want to hear any more inane stuff about how corporations are evil and must be controlled. An evil corporation is the exception, not the rule, and a few bad ones will not kill our economy, despite the dire warnings from Geithner and company. I don’t want to hear any more of this inane nonsense about how the way to fix things it to take from the “have’s” and redistribute it to the “have not’s”. Wealth doesn’t “trickle up”. It just doesn’t happen, no matter how much Obama and company continue to ask their fairy godmother to make it true. I don’t want to hear any more of this inane blasphemy that the wealthy only get that way on the backs of the poor. The wealthy get that way by providing a good or service that is needed. They cannot force people to partake in what they offer or to work for them for cheap. They cannot do that, unless of course they have the federal government mandating that it be so.
Our rise to financial power as a country came without a 75,000 page tax code or ridiculous reams of regulation on every aspect of business. We rose to being the premier economy in the world within the confines of a market that was drastically more free than the faux free market that is claimed to be the problem now. The problem is not a free market. The problem is that we don’t have a free market. Capitalism is not working out so well recently because the backbone of capitalism is a market that is free to grow, shrink, correct, and evolve without the cancerous hand of government attempting to dictate the terms. The progressive movement in America is pure, unadulterated evil. And there is no more concrete proof of that than the fact that they have done their best to eliminate as much freedom in the market as possible and then blame the problems on what freedom remains.
Mark my words. They now control the health insurance industry. But any future problems in that industry and its eventual failure to work will be blamed on the fact that they didn’t have complete control. They now have control of the financial industry. But any future problems in that industry and its eventual failure to work will be blamed on the fact that they didn’t have complete control. They now have control of the entire economy. But any future problems in the economy and its eventual failure will be blamed on the fact that they didn’t have complete control. It is the level of control that they DO have have will make all of America fail financially, and they will sell you on the idea that it was what they didn’t control that was the problem. So they will then work to eliminate that as well.
Our federal government is completely out of control and completely clueless when it comes to fiscal matters. We are running a deficit of 1.4 TRILLION dollars. Our National Debt is 13.3 TRILLION dollars. You can blame Bush all you want, but he topped out around $550 Billion. Obama has tripled that in just 18 months! And at a time when we are watching our economy crumble, this administration has passed some of the most expensive future programs in history. Two of them in the last 6 months (health care and financial reform). And they now have their sights on yet another: Energy “reform” (Cap and Trade). They are spending like teenagers given daddy’s black AMEX card with no limits. They claim that this is needed to save us. But that is an outright lie. They need to pass it because the progressives may never have this opportunity again. And we all know they don’t like to “waste an opportunity (or a crisis for that matter)“!
And amid all the madness that is the federal government spending machine, we have idiots like Timothy Geithner, who want us to believe that he really didn’t know he had to pay those taxes yet is capable of being Treasury Secretary, making statements about why letting the Bush Tax cuts expire on the top earners is responsible, such as: “We think that’s the responsible thing to do, because we need to make sure we can show the world that (we’re) willing as a country now to start to make some progress bringing down our long-term deficits.” Really? The federal government’s top economic idiot has the audacity to say that we are going to show the world that we are responsible and working to eliminate our debt? At the rate you fracking idiots are spending, you could confiscate 100% of all American’s wages and still not get into the black in this decade. Responsibility? You should be shot for even muttering the word you lying hypocrite. It’s easy for you to say the wealthy should pay more taxes when you don’t bother to pay your own. Asshats are running the government. Geithner is one of their leaders.
Here is the bottom line, dear SUFA readers. The federal government has become the problem when it comes to our economy. It is time to stop this madness. It is time to put our boot on the throat of government and remind those asshats that we can see behind the curtain and that they are impotent little men and women who have for too long believed themselves to be gods. It will not be painless. Our economy will get worse before it gets better. But there will only be worse without the possibility of better so long as we let these psychos run the asylum that our economy has become. It is time to take back our economy and our free capitalist market. It is not just our right or ourprerogative. It is our duty. I am reminded of some words written many years ago by men facing the same kind of economic oppression that we face today…..
But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.
The time has come. The government cannot fix our financial woes. We must strip them of any power over the economy of the United States and instill freedom and liberty back into our financial futures. It is the only way we can ever begin to heal and once again find a world where the prospect of equal opportunity exists for all. It is the only way to restore the dream that once was America.
I used information and quotes from the following articles: