Wildman’s Hangout

Wayne Allyn Root

Barrack Obama is no fool. He is not incompetent. To the contrary, he is brilliant. He knows exactly what he’s doing. He is purposely overwhelming the U.S. economy to create systemic failure, economic crisis and social chaos — thereby destroying capitalism and our country from within.

Barack Obama is my college classmate ( Columbia University , class of ’83). As Glenn Beck correctly predicted from day one, Obama is following the plan of Cloward and Piven, two professors at Columbia University . They outlined a plan to socialize America by overwhelming the system with government spending and entitlement demands. Add up the clues below. Taken individually they’re alarming. Taken as a whole, it is a brilliant, Machiavellian game plan to turn the United States into a socialist/Marxist state with a permanent majority that desperately needs government for survival … and can be counted on to always vote for bigger government. Why not? They have no responsibility to pay for it.

– Universal health care. The health care bill had very little to do with health care. Â It had everything to do with unionizing millions of hospital and health care workers, as well as adding 15,000 to 20,000 new IRS agents (who will join government employee unions). Obama doesn’t care that giving free health care to 30 million Americans will add trillions to the national debt. What he does care about is that it cements the dependence of those 30 million voters to Democrats and big government. Who but a socialist revolutionary would pass this reckless spending bill in the middle of a depression?

– Cap and trade. Like health care legislation having nothing to do with health care, cap and trade has nothing to do with global warming. It has everything to do with redistribution of income, government control of the economy and a criminal payoff to Obama’s biggest contributors. Those powerful and wealthy unions and contributors (like GE, which owns NBC, MSNBC and CNBC) can then be counted on to support everything Obama wants. They will kickback hundreds of millions of dollars in contributions to Obama and the Democratic Party to keep them in power. The bonus is that all the new taxes on Americans with bigger cars, bigger homes and businesses helps Obama “spread the wealth around.”

– Make Puerto Rico a state. Why? Who’s asking for a 51st state? Who’s asking for millions of new welfare recipients and government entitlement addicts in the middle of a depression?  Certainly not American taxpayers. But this has been Obama’s plan all along. His goal is to add two new Democrat senators, five Democrat congressman and a million loyal Democratic voters who are dependent on big government.

– Legalize 12 million illegal immigrants. Just giving these 12 million potential new citizens free health care alone could overwhelm the system and bankrupt America . But it adds 12 million reliable new Democrat voters who can be counted on to support big government. Add another few trillion dollars in welfare, aid to dependent children, food stamps, free medical, education, tax credits for the poor, and eventually Social Security.

– Stimulus and bailouts. Where did all that money go? It went to Democrat contributors, organizations (ACORN), and unions — including billions of dollars to save or create jobs of government employees across the country. It went to save GM and Chrysler so that their employees could keep paying union dues. It went to AIG so that Goldman Sachs could be bailed out (after giving Obama almost $1 million in contributions). A staggering $125 billion went to teachers (thereby protecting their union dues). Al l those public employees will vote loyally Democrat to protect their bloated salaries and pensions that are bankrupting America . The country goes broke, future generations face a bleak future, but Obama, the Democrat Party, government, and the unions grow more powerful. The ends justify the means.

– Raise taxes on small business owners, high-income earners, and job creators. Put the entire burden on only the top 20 percent of taxpayers, redistribute the income, punish success, and reward those who did nothing to deserve it (except vote for Obama). Reagan wanted to dramatically cut taxes in order to starve the government. Obama wants to dramatically raise taxes to starve his political opposition.

With the acts outlined above, Obama and his regime have created a vast and rapidly expanding constituency of voters dependent on big government; a vast privileged class of public employees who work for big government; and a government dedicated to destroying capitalism and installing themselves as socialist rulers by overwhelming the system.

Add it up and you’ve got the perfect Marxist scheme — all devised by my Columbia University college classmate Barack Obama using the Cloward and Piven Plan.

source:  http://www.lvrj.com/opinion/obama-s-agenda–overwhelm-the-system-95716764.html

By Fred A. Kingery
August 18, 2010

Mark it down. At 2:15 p.m. on Tuesday, August 10, 2010, the U.S. Federal Reserve made a historic announcement. It signaled that the central bank was going to “preserve the size of its balance sheet.” The announcement didn’t sound all that dramatic, but don’t be fooled. In the two subsequent days, the stock market fell over 300 points, and the price of gold rose $20.

The Fed’s balance sheet, which historically consisted of nearly 100 percent U.S. Treasury securities, has grown in size from about $850 billion to a towering $2.3 trillion (or $2,300 billion) currently. In the middle of the financial crisis two years ago, the Fed expanded its holding of securities by purchasing lower-quality, mortgage-backed debt securities primarily from our nation’s domestic banking system. The need for this balance sheet expansion was to provide massive liquidity for our entire financial system.

The cash used to purchase the debt securities was literally created out of thin air, or in other words, the Fed simply printed the money. Two years ago, the financial emergency was deemed severe enough to require this dramatic money-printing exercise by the Fed. There was never any intent to make the vast expansion of money injected into the banking system anything other than “temporary” due to the financial emergency. There was always discussion in the financial press and among Fed policy makers of an “exit strategy.” The “exit strategy” discussion implied that the inflationary (or even “hyper-inflationary”) potential of this massive expansion of the banking system’s base reserves was being monitored closely. The financial markets took comfort that the Fed was standing at the ready, to withdraw the cash, should there be any sign that the central bank’s monetization exercise was having a negative effect on investor inflation psychology. That feeling of comfort has been dealt a blow with the Fed’s announcement on August 10. There is now no “exit strategy” being considered, and the size of the central bank’s balance sheet may very well become permanent.

Historically, the U.S. Federal Reserve has been given two primary objectives: one is the preservation of the purchasing power of the U.S. Dollar, and the other is to conduct a monetary policy that supports full employment. It is not an easy task to serve two masters. Additionally, in its role as a central bank, the Fed is to remain an independent institution that resists political influences. This, too, is not an easy task. The Fed’s track record as an independent institution that has preserved the purchasing power of our currency and maintained full employment is fully open to challenge. The central bank has not always demonstrated a firm independence from political influence, and the purchasing power of the U.S. Dollar has significantly diminished over the past 40 years.

An independent central bank, free of political influence, has always been a critical corner stone supporting confidence in whatever the currency the bank is charged with managing. Confidence is the one and only real currency of a central bank. What has just transpired here with the Fed’s announcement is that, in no uncertain terms, the central bank has explicitly stated it is prepared to “preserve the size of its balance sheet.”And I would add, what it didn’t say explicitly, but did signal to the political class in Washington, is a willingness to “further expand the balance sheet dramatically if need be.” The fancy term being used to describe its intent here is called “quantitative easing” or “QE.”

The real inflationary (or hyperinflationary) risk that the financial markets will calculate very carefully going forward is that the central bank, with this announcement, has now opened itself to being fully co-opted by the political process in Washington. Consider, why make hard political decisions on taxes and spending when the central bank has, in effect, just announced that it stands at the ready to print the money to finance any deficit of any size in order to underwrite any amount of future debt accumulation?

The political class in Washington will see the Fed’s announcement as a potential gold mine. They will no doubt attempt to mine it for all it’s worth. The significantly rising risk is that the accumulation of future government debt attended to this process will result in hyperinflation rather than a garden-variety, modest inflation.

Hyperinflation occurs when there is a total collapse of confidence in a currency. A central bank that is willing to simply print money out of thin air to finance unlimited amounts of debt will eventually undermine the confidence in the currency being managed as lenders eventually seize on the realization that they will never be paid back in anything other than worthless paper.

The road to hell is indeed paved with good intentions.

V & V

source:  http://www.visandvals.org/The_Federal_Reserve_s_Historic_Announcement.php

Posted by Ben on August 20, 2010 ·

Ben Johnson, Floyd Reports

Conservatives often see the government as an Orwellian apparatus hungrily devouring our God-given rights. Liberals in power (three of the scariest words ever written) often given them ample reason to think so. But just as often, the government is less a sleek tiger than a bloated pig gorging on everything available, reveling in filth, and unintentionally destroying everything it touches in the process. Republican Senators Tom Coburn and John McCain have revealed how Obama’s stimulus bill is at once dangerous and hapless, disconcerting and idiotic.

Yesterday, I reported that $500,000 of the  bill went toward implanting microchips in recycling bins in Dayton, Ohio, to monitor residents’ trash. The senators’ “Summertime Blues” report lists 100 boondoggles underwritten by the taxpayers as part of the $862 billion American Recovery and Reinvestment Act (ARRA). While some have unnerving undertones, most of the waste uncovered in the 74-page synopsis just shows what a broken and corrupt place Washington is.

Among the more amusing findings, the report documents how our beloved leaders gave:

• $298,543 to the Southwest Research Institute in Texas to study “atmospheric forecasting of weather and climate on other plants.” Yes, they will tell you the weather on Mars. The scientists insisted this “has great appeal.” We’re waiting with bated breath and our wallets open.
• $712,883 for Northwestern University reserchers to build a robotic comedian.  (Has Janeane Garofalo retired?)
• $89,298 to Boynton, Oklahoma, to build a sidewalk that leads to a ditch.
• $144,541 to provide cocaine for Monkeys. Scientists at Wake Forest University will study the coked-up primates to research the “Effect of Cocaine Self-Administration on Metabotropic Glutamate Systems.”
• $200,000 to Toledo, Ohio, to maintain a freighter ship it keeps on display that averages 30 visitors a day (in that tourist paradise of Toledo).
• $253,123 for museum with 44 visitors a year. The North Carolina State Insect Museum will use the money to promote itself and end its Maytag repairman-like life. The first step is a “Insect of the Week” feature on its website, followed by a line of baseball cards with “native and fascinating insects.” Good luck with that, you social butterflies.
• $1 million a year for 19 Los Angeles bus stations to purchase artwork to “enhance the customer experience.”
• $1 million for buy iPod touches for 1,600 high school students in Salt Lake City. They get to keep the devices if they graduate with their class.
• $6 million to build a boutique hotel in Buffalo, New York, “as high-end as they come.” But the local conventions bureau’s former president said they need no more hotel rooms.
• And perhaps most unforgivably — $25,000 for the International Accordion Festival in San Antonio, Texas.

Feeling fleeced yet? You will after you read the report.

Their booklet recounts page upon page of such grants. The beneficiaries’ attempts to explain  these pork projects “create jobs” is imaginative fiction, and their claims of having created, e.g., one-quarter of one job here, one-half of one job there, make one wonder how anyone could ever believe Keynesian economics again. The report makes clear, upon a careful reading, the bill destroyed as many jobs as it produced, even in projects that actually hired people. Heaven knows how many jobs this $0.84 trillion confiscation could have generated in the free market, or how much better the average taxpayer’s quality of life would have been if he had some of that money back in his pockets.

It’s funny about the Left; you have to laugh to keep from crying.

source:  http://www.impeachobamacampaign.com/100-ways-obama-is-wasting-your-money/