Two fronts of your most crucial war

The two fronts of your most crucial war

By Don Hank

We Americans are at war and although we are often bombarded with the idea that our enemy is politicians, the real enemy is ignorance. Thus, each of us must wage this war with all our heart and soul on two fronts. On one front, the target is each other. In the other, it is ourselves. For example, in the case of Don Hank, the targets are:

1—my own ignorance (including biases that interfere with my own objectivity).

2—my neighbors’ ignorance (including biases that interfere with their objectivity).

Each front is equally important. I can’t fight the war on my readers’ ignorance unless I can come to grips with my own ignorance. So my foremost and biggest job is to defeat my own ignorance.

But why does the war on ignorance matter?

Because America – and the rest of the world – cannot get out of this economic and political crisis without knowledge. By that I mean, the conviction that the “economists” and the politicians they control, who got us into this mess, cannot — and don’t want to — get us out of it.

If America had done its homework, combating its own ignorance and ideological prejudices, not one of the scoundrels like Barney Frank who engineered the housing crisis would ever have been elected in the first place.

America cannot regain a degree of freedom by ignoring readable, layperson-accessible analyses by those who have done their homework and know how the crisis started and why, and who in Washington and Wall Street was responsible.

Readers who are still confused about the how, who and why of our life-threatening economic crisis need to catch up quickly before it is too late. The wolf is at the door and we can’t afford to get it wrong again.

As evidenced by their support for bailouts, both Bush and Obama subscribe to Keynesianism to some extent, and America is going broke as a result. Therefore, just voting Republican cannot save us. There are Republicans who get it, but probably just as many who don’t, or worse, will not vote their principles.

I have an acquaintance who teaches economics and believes – or rather believed — in Keynesian economics, or essentially what Reagan called voodoo economics. The cult’s founder John Maynard Keynes once famously said that if the government hired workers to dig a ditch and fill it back up, that would stimulate the economy. That’s how smart he was, and that is how smart Obama is, whom Rush has correctly identified as a “moron, economically” (true, Obama intends to bring down America, but the unemployment rate is too high to cover up or frame as a Bush hangover and that is causing people to trust Republicans more in economic affairs. Obama truly believes that spending more of your money will help. He had not immediately spent that TARP money, hoping to invest it around election time. But the voodoo is not working).

My economist acquaintance would usually try to rebut articles written by conservative / classic liberal economists and published at Laigle’s Forum. One of her main arguments was that the issues were too complex for normal people to grasp, that she had worked for years as a market broker and was an insider so she just knew things that mortals like me could not. In other words, she proffered the same sleight of hand, devoid of clarifying details, resorted to by Bernanke and his cronies in their plea for bailout money. But I always had a counter-rebuttal that she could not respond to, because no amount of insider savoir-faire is a fair substitute for common sense and facts. She no longer rebuts, so she may have gotten awake. After all, the current situation can certainly wake up the most Keynesian among us.

The Keynesians look back at FDR, a Keynesian president, and claim he “got us out of the depression.” In fact, an analysis by UCLA economists Harold L. Cole and Lee E. Ohanian, replete with painstakingly gathered data, shows that FDR’s policies prolonged the depression by 7-8 years. Many other economists agree. The fact that there is still any debate over this at all is a tribute to the hard work of academics who worship FDR as an economic shaman and roundly reject common sense.

So how can America get up to speed on a crisis that threatens our very existence, our money and our jobs?

You need to read sound analyses. It’s hard work, but you’re an American and you know that hard work is why we are great.

I haven’t seen better readable analyses of our economic crisis than the ones by Steph Jasky of FedUpUSA. Steph is one of the few bloggers who do their homework and know whereof they write and speak. Like me, she and her family were personally affected by the housing crash and wanted to know the identity of the monster that ate their investment. After arduous research, she succeeded in identifying that many-headed shape-shifting monster and is still working hard to inform you and me about its ongoing misdeeds.

I strongly recommend you subscribe to Steph’s newsletter and scan her site. Here is the latest column you can’t afford to miss:

http://fedupusa.org/2010/10/05/just-trash-the-dollar-and-its-all-good/

Just trash the dollar and it’s good (this column is full of charts compiled by Wall Street itself)

Chart is the SPX, white line is the dollar by comparison.  That’s where the ramp the last month has come from.  That’s an OVERT currency devaluation – 7%.

And what’s the SPX change?  About 10%.

Oil?  Oh, it’s up 17%.  Hope you like much more expensive gas and…. this winter…. heating oil.

Read more.

Other sites can also be helpful, even some of the ones trying to sell you their services and products. Because they can only sell if they can demonstrate to you, through cogent arguments and analysis, that they know a lot about the economy and keep abreast of economic affairs.

One such site is Taipan Publishing Group, which features, for example, the following vital and informative piece:

http://www.taipanpublishinggroup.com/tpg/taipan-daily/taipan-daily-100610.html

Massive foreclosure errors will collapse the housing market (again)

The worst excesses of the housing market bubble and bust are coming back to haunt us. Now is the time to prepare for another home price collapse, with fresh rounds of “quantitative easing” sure to follow.

It would be hilarious were it not so tragic. Come to think of it, it’s hilarious anyway. The country has not yet paid for the idiotic shenanigans of the late great housing market bubble. The latest debacle virtually ensures that the U.S. housing market will collapse.

“Wait a minute,” you may ask. “Hasn’t the housing market ALREADY collapsed?”

Well, yes. But the collapse isn’t over yet. There is another implosion coming – a crushing leg down that will pulverize all hopes of recovery into talcum powder. And another tidal wave of public outrage will likely come with it… all thanks to our wonderful friends in Washington and on Wall Street.

I wish I were exaggerating here, but I’m not. We have flat-out Disaster coming with a capital “D.” Follow along and you’ll understand why.

To first set the stage, let’s briefly cycle back in time to the glory days of the housing bubble…

Read more.

Friends, the information America needs to pull out of this economic crisis – caused by dangerous politicians from both sides of the aisle that you never should have voted for – is all available for free (although I do recommend you push the Donate button at FedUpUSA if you can afford to).

Need I say more?

Further reading on the economic crisis:

http://laiglesforum.com/subprime-crisis-the-overal-picture/346.htm

http://laiglesforum.com/a-modern-day-lafayette-rallies-the-troops/343.htm

http://laiglesforum.com/french-mainstream-press-confirms-our-assessment-of-the-financial-crisis/339.htm

http://laiglesforum.com/global-elite-mum-on-economic-analysis-in-europe-us/1862.htm

Global elite mum on economic analysis in Europe, US

Don Hank

There is a worldwide effort to cover up the truth about the causes of the economic crisis (one main one being bad loans made deliberately and then disguised by bundling into “derivatives” for resale).

A column by Steph Jasky at FedUpUSA shows just how completely some lending institutions ignored their own lending rules and common sense.

Here is a tip of the iceberg example.

This quote is a bombshell:

Ambac found that 97 percent of 6,533 loans it reviewed across 12 securitizations sponsored by Countrywide didn’t conform to the lender’s underwriting guidelines

 Steph Jasky is one of the few reporting this kind of information. One reason for the silence is that such analyses seem a bit technical to many of us. But the main reason is that the mainstream — and even much of the “conservative” media — are ignoring it. After all, GW Bush participated by urging banks to issue no-downpayment loans. (He didn’t do this because he was conservative. He did it because he was not conservative and because he believed in the Global Elite’s wealth redistribution program).

Recently, a conference featuring top economic experts and a few knowledgeable others (like dissident EU Parliament Member Nigel Farage) was held in Germany. Even without any publicity from the mainstream press, 700 attendees showed up. The general consensus was that the euro should never have been devised and rammed down European throats in the first place and that the chickens were about to come home to roost in the form of a collapse of that currency, despite all the futile attempts to bail it out — or rather in large part because of these attempts to tamper with natural and universally applicable economic laws and common sense.

The only mainstream media rep that showed up was Russia Today, which spent the entire day interviewing at the conference.

How is it that the media both here and in Europe refuse to talk about the causes and possible cures of the worst economic crisis since the Great Depression?

The non-conspiracy theorists insist this amazing concurrence of non-coverage throughout the West — and the concurrence of abysmal banking procedures on both sides of the Atlantic — is simply a coincidence.

Whatever the case may be, it is time to educate the public and throw out ALL politicians who voted for bailouts and phony “stimulus” packages in the most gargantuan transfer of wealth from the poor and middle class to the rich in world history.

It is no wonder that the gap between rich and poor widened last year.

It widened not because capitalism failed but because capitalism is being supplanted by Public-Private Enterprises and government pressure on business and finance to sponsor wealth redistribution schemes.

Barney Frank is the new face of “capitalism.”

On the other hand, the news cover-ups are not working as well as they used to. In the US, we have talk radio and Glenn Beck pummeling the Ruling Class very hard on a nearly daily basis and gradually changing America’s mind. As for Europe, there is anger spilling out everywhere over the bailouts.

The below email I received from a European friend recently illustrates that the grassroots are about to rebel. A friend reminded me that most of the protests reported below were instigated by unions and that would make them left of center. No doubt that is true. However, whether they realize it or not, the protesters are highlighting the main point: The bailouts of the euro and the bankers with shoddy lending practices that have marked the European response to the worldwide crisis (and I need to add: the US response as well) were a sign of profound corruption and gross abuse of the trust the people had invested in their leadership. The ensuing breach between elite and grassroots is profound and quite likely irreparable. And the bottom line is that, even if this is a case of one leftist group playing against another, the group in power, the Global Elite, is now on the losing end in terms of popular support.

Whether the people will ever figure out that the loss of economic freedom and big government were the real culprits, and not, for example, the lack of care from the nanny state, remains to be seen. But the elite are taking a thrashing, and that, at the very least, is interesting to watch.

Just a few of the many protests and demonstrations across the EU state over the past few weeks……..

Spain. Some of the latest protests against the Spanish government’s planned spending cuts turned violent.

In Madrid, police said that some 40 people had been arrested since the strike began in the early hours of Wednesday morning.

In Barcelona, demonstrators hurled objects at security forces and set fire to a police vehicle.

Meanwhile, protesters in Valencia tried to storm a government building. Several were injured in the clashes.

Ministers say the austerity measures are necessary to boost an economy where 20 percent of the workforce is currently unemployed.  Unions countered that ordinary people are being made to pick up the tab for mistakes made by bankers and traders   Scuffles break out during Spanish protests 

           http://www.euronews.net/nocomment/2010/09/30/spanish-general-strike/

Brussels was the scene of one of the biggest demonstrations against government austerity measures.

Tens of thousands of people marched through the Belgian capital to protest against plans unions say will slow economic recovery and punish the poor.

“They are pitting people against each other by relocating businesses to increase profit margins instead of improving conditions. It is scandalous and people have had enough,” said one CGT union member.

Similar sentiments were shared by demonstrators taking part in marches in ten other capitals across Europe.

Police in Brussels say more than 200 people were arrested for minor offences.

Copyright © 2010 euronews

Tags: Demonstration, Europe, Trade unions

Romanian workers protest over austerity measures – nocomment

About five-thousand Romanian workers protested against austerity measures taken by the government to trim the budget deficit during a deep recession. 29/09/2010

Greek truckers pursue protests as strike spreads

Greece has had several days of action since the government cut deep into workers allowances, but Wednesday saw one of the largest protests.   State hospital… 29/09/2010

Social discontent grows across Europe

Europeans are coming out onto the streets in their millions as governments consider legislation aimed at reducing their budget deficits. In France, it is… 24/09/2010

Czech civil servants storm government office

Public sector workers in the Czech Republic on Tuesday stormed the country’s interior ministry during a protest against planned pay cuts. Some 30,000… 21/09/2010

Polish unions join protests over budget cuts

Wet and windy weather did nothing to deter Poles from demonstrating against their government’s belt-tightening measures. Marching under the motto “No to… 29/09/2010

Germany;  Plans to fell 300 trees to make way for the german city’s multi-billion euro rail infrastructure project ended in clashes between police and demonstrators. “This is to teach people a lesson, namely that they have no valid comment to make. The German police have never behaved like this before.” was the reaction of one protestor. There are claims the police used excessive force to quell the protest.

“We are peaceful, what are you?” chanted the crowd. Water cannon and tear gas were used. The authorities say some protesters threw stones at the police. But their actions were in vain as the trees began to tumble as night fell. “I think the trees were felled to show us that there can be no going back. It was meant to demoralise us but I don’t think they will succeed.” said another protestor. The protests have now grown into a national issue. Latest polls suggest that, for the first time in decades, Chancellor Angela Merkel’s conservatives could lose their majority in the state’s upcoming elections as a result…………….

Thousands march over Merkel’s nuclear policy

Tens of thousands of protesters have taken to the streets of Berlin to say ‘no’ to Angela Merkel’s nuclear energy policy. They are angry at plans to extend… 18/09/2010

The wind farm boondoggle

The wind farm boondoggle

by Don Hank

Wind farms are considered an “investment” and governments are trying desperately to attract capital to build them.

However, as Christopher Booker recently wrote for the Sunday Telegraph, they are not a feasible investment.

And there are other issues as well:

First and foremost, any enterprise that requires government subsidies is a scam, and these babies just soak up public funds like a sponge while providing diminishing returns. A bona fide investment is one that the enterprising investor with a little vision can see is going to pay off eventually, either sooner or later. Wind farms without subsidies attract zero capital.

It is cynical and cunning to pretend that a wind farm could be a capitalist business enterprise, because, as the following article shows, the cost-benefit ratios are abominable. The public winds up paying not only at the start but throughout the use of this boondoggle.

Second, the machines are extremely noisy and the property values in their vicinity plummet.

Third, they occupy valuable farmland that is then taken out of use. The value of the crops that could have been raised there is lost forever, replaced by a “commodity” of much lower, and questionable, value.

You don’t save the planet by adding pollution, and noise pollution is pollution. And you don’t provide for a hungry populace by destroying farmland.

The labor and material costs of these windmills are very high and we can assume that any cost analysis including both the land and the machinery plus the labor needed to maintain and operate the system, will wind up showing a constant loss for the public, as well as huge “profits” for the public-private partnerships at our expense. (Some of the first PPPs were seen in Mao’s China. They are typically the first step in a gradual migration toward total and totalitarian communism. No one should confuse PPPs with free market capitalism. They are quite the opposite. Historians will also recognize their similarity to Mussolini’s state-private joint enterprises — a hallmark of fascism).

The bottom line is that the New World Order needs you poor. Otherwise they are afraid middle class people will overrun the planet and make it less desirable for the Self-Elect. They are already nervous about our presence here on “their” planet.

If the world needs clean energy, so far, all things considered, nuclear power is the only way to go, provided the redundant safety systems are put in place.

RINOs surfing the euphoria wave

Don Hank

As soon as I learned McCain and Mitt Romney were present at Brown’s acceptance speech, I realized the GOP’s strategy: Mask their RINO stench, eventually get them onto the ballot and then get one of them into the White House.

Many real conservatives were euphoric about Brown’s win because they saw it as a way to defeat Obamacare and turn America rightward.

But the ELITES in the GOP saw it as they golden opportunity to manipulate you by association.

Simple, really, according to the following equation:

OE = RE > R = OU

Our Euphoria = RINO’s Euphoria, hence RINOs = One of Us.

If you believe that, I have some land for you off the Florida shore.

This sleight of hand is combined with another potent dirty trick by the establishment: securing Sarah Palin as an accomplice in supporting McCain in AZ.

Everyone in my readership is aware of such tactics and I am not under any delusion that you are fooled.

But some of you may harbor illusions about your fellow conservatives who aren’t as smart as you. So now is the time to fight this with everything you’ve got, because a McCain or Romney presidency could, in the long run, do more damage than the Obama presidency — precisely because they would, at least initially, be trusted by many independants and gullible conservatives who saw them cheering for Scott Brown.

Back in the days of the first amnesty push, I – along with many of you — spent many tense days calling congress people to warn them NOT to vote for the McCain-Bush-KENNEDY amnesty. We averted that disaster by the skin of our teeth.

But with McCain in the White House, it will be MUCH more difficult than before–maybe impossible.

Ok, what has McCain done for America?

1 — Made a big show of suspending his campaign (it was in fact PART of his campaign) to sign an un-Constitutional bill to give your money to his rich banker friends

2 — Now that unemployment is around 20 devastating percent for whites and over 30% for some black groups, Juan McCain has not ONCE backed away from his pro-invasion stance.  As far as he’s concerned, Mexican scofflaws get first dibs at the rapidly disappearing US job market.

He doesn’t care about jobs for America any more than Obama. They are partners in crime — the crime of selling out America’s sovereignty for political gain.

As for Mitt, we know all we need to know about CFR member Mitt Romney from a previous article appearing here (this article is partially missing due to a web site crash at Underground Journal, but I will be glad to send you the text. Just drop me a line at zoilandon@msn.com)

So you see, RINOs are euphoric about Brown’s win, but not for the same reason as you. JUST THE OPPOSITE! They know the Brown win is a chance to falsely cast themselves as conservatives, grabbing the credit for what the grassroots did in MA.

Don Hank