Watching C-Span this week, I happened to take in what money Obama was proposing to spend as part of the Stimulus. One of those items was money to improve the availability of education for all who desire a better education, but can’t afford it. It reminded me of the rapid growth in cost to obtain a good education. And coupled with this proposal were two stories in the local paper the past few days concerning contributions of some college students.

It seems that the communications satellite to be put into polar orbit by India in April was designed by college students and their instructors at Madras University in India. Another newspaper story carried the information that a new method for detecting breast cancer had been developed by students and instructors at the University of Arkansas. The detection method analyzes the chemical composition of tears collected from the eyes to detect telltale indications of the breast cancer. Now that’s money well spent and knowledge and experience almost impossible for young minds to get in any other scenario. Continue reading →

We ought to be spending our time and effort doing something more worthwhile, like figuring out how the Federal Reserve is handling the trillions of dollars they are creating and pumping into the economy, and how that is affecting the purchasing power of dollars in your pocket. FULL ARTICLE

Just as my disappointment grew at the prospect of an unchanging foreign policy toward the Middle East, and a current absurd position escalating a no-win war in Afghanistan – or his unwillingness to help prosecute criminals in the past administration, starting with George W. Bush – this president’s economic prescription for the ongoing crisis is nothing short of an unfair repackaging of an infected, tired corporatism for a brainwashed people that to date have not been told the truth: that they have been living beyond their productive means for way too long. FULL ARTICLE

For the foreseeable future, deficits will be measured in trillions, not billions. To put these vast sums into perspective, consider just one billion, or one thousandth of a trillion. A billion minutes ago, Jesus was alive. A billion hours ago, humankind was in the Stone Age. But in just the past eight hours and twenty minutes, even before Obama’s budget clicks in, the Government has spent $1 billion! FULL ARTICLE

The great failing of the Obama administration is that it is packed with people who show no apparent knowledge of the essential truths of liberal theory. That theory — which is the core of the American political contribution to, and the driving force of, modernity itself — is that freedom is the foundation of and the reason for social and economic flourishing. All evidence suggests they know nothing of this. FULL ARTICLE

The central tenets of Obamanomics appear to be that access to credit will enable people to borrow money to buy stuff, the spending will spur production and employment, and thus the economy will grow. It’s a neat and simple picture, but it has nothing whatsoever to do with how an economy works. The President does not understand that consumption is made possible by production and that credit is made possible by savings. The size and complexity of modern economies has obscured these simple concepts, but reducing the picture to a small scale can help clear away the fog. FULL ARTICLE

Make no mistake, the economy will not turn around soon. When the recovery fails to materialize, look for governments around the world, and especially in the U.S., to send another massive wave of liquidity downriver. When it does, the value of nearly everything, except for gold , will diminish. Don’t be intimidated by the recent spike in gold. Buy now while you still can. FULL ARTICLE

Washington is choosing to pursue the policy of continued and ever-increasing false prosperity, financed eventually by hyper-taxation, hyper-debt and hyper-inflation accompanied by a gradually eroded standard of living. The jobs created by the Bill are by and large non-productive, and will divert resources from the private sector and rob consumers of their power to make free choices in the marketplace. FULL ARTICLE

President Obama is under the impression that history owes him $1 trillion right now to spend on whatever he wants. His language is strident and full of irritation that anyone would question his right to live out his personal dream of being Franklin Roosevelt to George Bush’s Hoover. This, he says, is what the election was all about.  The arrogance reminds me of George Bush after 9-11, who similarly believed that history owed him a gargantuan war in the tradition of FDR. And look how that arrogance led to disgrace and loss, as he unwittingly presided over the destruction of American prosperity while searching for bugbears abroad. FULL ARTICLE

This week President Obama claimed that failure to pass his economic stimulus bill will have catastrophic consequences for the U.S economy. The reality is the catastrophe will be far greater with his plan then without it. If the trends of January and early February of 2009 continue, the rug will be completely pulled out from beneath the U.S. economy, and the full cost of the President’s “economic depressant package” will be apparent to all. FULL ARTICLE