Demise of the Dollar

Ultra-liberal columnist Stephen Dick exposes his complete lack of understanding an issue yet again. He recently wrote in defense of the Federal Reserve’s announcement to buy another $600 billion of debt. Mr. Dick blasts anyone who dare suggests that this is a bad idea (in his land of left-believe world, the only opposition comes from the GOP).

On an emotional level, Mr. Dick’s and Mr. Bernanke’s sentiment is admirable: spur economic recovery and get businesses hiring. The sad truth is that in order for this to actually work, all normal economic sense must be suspended.

Independent analysts at Weiss Market Research indicate that the Fed’s move is not without its cost. Indeed, Larry Edelson calls the Fed’s action a “big fat lie:”

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Here’s why:

First, because the whole concept of “buying Treasuries” is a smokescreen. What Bernanke is really doing is running the money printing presses, and it’s no secret. Even the emperor himself knows he has no clothes.

Second, because Bernanke also knows — all too well — that he’s not truly pumping money INTO the U.S. economy. In reality, the U.S. economy is leaking like a sieve. So for all practical purposes, he’s pumping the money OUT OF the U.S. economy — to countries overseas.

Third and most important, the “big number” — $600 billion — is meaningless. The Fed says quite bluntly that they will … “regularly review and adjust the program as needed to best foster maximum employment and price stability.” In other words, they’ll blow right past the $600 billion mark whenever and however they darn please.
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The biggest bottom line is that the Fed’s action intentionally devalues the dollar. Saving for the future? Have parents or grandparents living off of their fixed income? Those precious U.S. dollars will be worth less as commodity prices rise.

Now liberals like Mr. Dick stampede to ridicule talk of inflation as nothing but made-up mythological apocalyptic crazy-talk from those dastardly Republicans:

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The congressman from my district, Mike Pence, wants to see Congress strip the Fed’s mandate on unemployment and concentrate on inflation. There are a lot of problems with this, but start with the fact inflation is almost nonexistent.
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Then in typical liberal fashion, he immediately contradicts himself as he writes:

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(I know, anyone who goes to the grocery or to get gas or to a movie might argue with this.)
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There is a reason we “might” argue with this: inflation is real. Although not reflected through the magic of the official government numbers – yet – commodity futures prices have already accelerated upward. Four commodity futures indexes tracked by Bloomberg show that new highs have been reached in late October to early November. Even though they have backed off since then, the uptrend remains in place. Global demand and a devalued dollar will be a bitter pill for the average American to swallow. Martin Weiss offers this sobering conclusion:

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Recession is actually the LESSER of the evils! Turning to the possible government responses to the problem, the CBO follows Dad’s logic almost to the letter, writing that

…Bankruptcy — defaulting on U.S. debt — would be a disaster, making it extremely difficult for America to borrow for many years to come.

Cheating and stealing (e.g., printing money) — which, as Mike Larson explained on Friday, now seems to be what Fed Chairman Bernanke favors — would also be a huge mistake, again making it much harder for the U.S. to borrow in the future.

In conclusion, the ONLY viable option, says the CBO, is … austerity. Yes, they admit, it would have negative consequences, driving the economy into a deeper recession. But, they say, a deeper recession would be the lesser of the evils.

This is the urgent dilemma America faces right now: Do we want to continue playing games with our money … or do we want to treat it with the respect it deserves?

If we do the wrong thing, we will doom future generations — and ourselves — to impoverishment. If we do the right thing, more economic pain is inevitable. But outside the fantasyland of Washington and Wall Street, it’s the only viable option.
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Mr. Dick can believe what he wants, but economic reality will, without doubt, have the final say.

Veterans Day Salute

No matter how many times I read this, I feel a swell of emotion and pride:

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"Nineteen forty-five was the worst year in human history - more people killed, more buildings destroyed, more high explosives, more fires than ever before or since. In 1945, the sight of a group of teenage Germans or Japanese or Red Army troops, in uniform and armed, brought terror to civilians in France, Belgium, Holland, Korea, the Philippines, China, Germany, Poland, and elsewhere. It brought terror because those squads of teen-age soldiers meant rape, pillage, looting, wanton murder, and senseless destruction. There was an exception: a squad of teen-age soldiers of democracy, in uniform and armed - because that squad meant candy, C-rations, cigarettes, and freedom. That was true in France, Belgium, Italy, the Philippines, China, even Germany, and, after August 1945, Japan. We had sent the best of our young men halfway around the world, in both directions, not to conquer, not to destroy, not to rule, but to liberate." (Stephen E. Ambrose, "The Lasting Legacy of World War II," One of Freedom's Finest Hours, Hillsdale College Press: Hillsdale, Michigan, 2002, p. 6)
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Have another great day in the land of liberty!

Dishonoring the Greatest Generation

If you happen to love America and if you happen to honor the role of American military men and women in securing and protecting freedom around the world, then you’ll want to sit down, relax, and take a few deep breaths before continuing. If you use it, make sure that you have taken your blood pressure medicine. Why preface my article with all this? Simple. This will raise your blood pressure and leave you boiling mad.


In July 2010, the National Endowment for the Humanities (NEH) sponsored a workshop entitled “History and Commemoration: The Legacies of the Pacific War.” College professors from across the nation were chosen to attend the seminars held at the University of Hawaii. Expecting an opportunity to visit impressive sites commemorating the American victory over tyranny, as well as meeting with other scholars who shared her interest in this facet of World War II history, Professor Penelope Blake experienced quite a different event.

In her own words, Professor Blake states:

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In my thirty years as a professor in upper education, I have never witnessed nor participated in a more extremist, agenda-driven, revisionist conference, nearly devoid of rhetorical balance and historical context for the arguments presented.
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In a letter written to her Congressman specifically requesting that taxpayer funding be withdrawn from the NEH, Professor Blake delineated several points demonstrating the intent of the presenters at this NEH sponsored workshop to disparage and dishonor the spirit and integrity of United States military personnel in general and the “Greatest Generation” in particular:

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1. The U.S. military and its veterans constitute an imperialistic, oppressive force which has created and perpetuated its own mythology of liberation and heroism, insisting on a "pristine collective memory" of the war.

2. The Japanese attack on Pearl Harbor should be seen from the perspective of Japan being a victim of western oppression.

3. War memorials, such as the Punchbowl National Memorial Cemetery (where many WWII dead are buried, including those executed by the Japanese on Wake Island and the beloved American journalist Ernie Pyle), are symbols of military aggression and brutality "that pacify death, sanitize war and enable future wars to be fought."

4. The U.S. military has repeatedly committed rapes and other violent crimes throughout its past through the present day.

5. Those misguided members of the WWII generation on islands like Guam and Saipan who feel gratitude to the Americans for saving them from the Japanese are blinded by propaganda supporting "the image of a compassionate America" or by their own advanced age.

6. It was "the practice" of the U.S. military in WWII to desecrate and disrespect the bodies of dead Japanese.

7. Conservatives and veterans in the U.S. have had an undue and corrupt influence on how WWII is remembered.

8. Conservatives are reactionary nationalists (no distinction was made between nationalism and patriotism), pro-military "tea baggers" who are incapable of "critical thinking."

9. Relating to the above, even members of the NEH review board are not immune to "reactionary" pro-military views.

10. Veterans' memories of their own experiences in the war are suspect and influenced by media and their own self-delusion.

11. War memorials like the Arizona Memorial should be recast as "peace memorials," sensitive to all viewers from all countries, especially the many visitors from Japan.
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Professor Blake did a magnificent job rebutting each of the points she includes in her letter.

Shortly before discovering this report about the NEH workshop, I finished reading “Citizen Soldiers” by historian Stephen E. Ambrose. Early in the book, within the first one hundred pages or so, Ambrose included accounts of some atrocities committed by American soldiers. Most of the incidents centered around the shooting of surrendering enemy and unarmed prisoners. Ambrose points out throughout his book that these types of atrocities were isolated and were not systemic to the general command structure of American forces. By the end of the book, as the Allies are making their way across Germany, Ambrose relates that some of the most valiant fighting by German soldiers occurred as they sacrificed themselves to slow the Russian juggernaut so that more of their fellow citizens and soldiers alike could have a chance to surrender to the American forces. They knew that the Americans came to liberate, not dominate.

Even though the European and Pacific Theaters of Operation presented their respective and unique challenges to young American boys thrust into a brutal global conflict, and even though cruelties by “our boys” have been documented, the final truth is that American combatants liberated island after island from Japanese cruelty and, in the end, liberated Japan itself from the totalitarian grip of brutal Imperialists.

It is a particularly despicable act on the part of these so-called academics who set about to dishonor and desecrate the sacrifice of thousands of young Americans who gave so much in order to not only preserve freedom in America, but to liberate countless others subjected to the tyranny of Imperial Japan and Nazi Germany. It is even more despicable that they are allowed to perpetuate their revisionist messages with the aid of taxpayer funding. It should certainly be clear by now to even the most casual observer that those living in the land of left-believe are ultimately bent on crippling America.

In both protest to this kind of nonsense and in honor of those who have served the cause of liberty and freedom, make a special effort to thank a Veteran and/or active servicemember this Veteran’s Day.

Liberty Over Slavery

"Today's Quote" in my local newspaper: "I prefer liberty with danger than peace with slavery" (Jean-Jacques Rousseau, Swiss-born French philosopher, 1712-1778)

I consider this a timely reminder for our day. Too many Americans are being seduced by the power-brokers who invite us to sacrifice a little liberty - and then just a little more - in order to attain security and peace. A glaring sample of this is the health care legislation that has been sold as America's "solution" for universal access to health care. In addition to mounting financial costs, there are also mounting costs to liberty as government herds us into their prescribed forms of health care choices.

I have written before that lasting liberty demands that we bear the consequences for our behavior. Those who are able to shift the consequences for personal behavior onto other individuals and groups have low, or no, motivation to change and improve. Consequently, liberty is eroded for everyone.

Everyone I know likes peace and security. I like peace and security. But peace and security without the truthful recognition of the high price of vigilance leads to enslavement. Those who have gone before us - those to whom we owe a debt we cannot pay - knew this full well:

The time is now near at hand which must probably determine whether Americans are to be freemen or slaves; whether they are to have any property they can call their own; whether their houses and farms are to be pillaged and destroyed, and themselves consigned to a state of wretchedness from which no human efforts will deliver them.


The fate of unborn millions will now depend, under God, on the courage of this army. Our cruel and unrelenting enemy leaves us only the choice of brave resistance, or the most abject submission. We have, therefore to resolve to conquer or die. - General George Washington, order issued July 2, 1776

As 21st century Americans, we are blessed to have elections through which we can choose liberty or slavery. As with any tool, it is useful only to the extent that we actually use it. So use it.

Choose liberty over slavery.

Legislating Death

Remember when Sarah Palin’s remarks about Obamacare death panels spurred the left on to an overtime apoplectic fit? Her studied remarks were labeled “disgusting” and “outrageous.”

Leave it to a liberal, though, to actually confirm the accuracy of conservatives’ analysis of social issues. In one recent editorial, “veteran Canadian journailst” Bogdan Kipling writes,

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Had the Democrats merely listened to the wise counsel of such progressives as Reps. Jim McDermott (D-WA) and Texas maverick Jim Hightower and pressed for single-payer while they had a staggering majority they likely could have avoided all of this.

From a Canadian perspective, they might be far happier if they had. Yes, the Canadian system has some major flaws, but most of the country's 34-million inhabitants seem relatively happy with it. It provides all the necessities, but few of the expensive frills of the American system.

Then again most Canadians are hardy enough souls that they have no desire to cling to a life that is not really living. What could be more horrendous than to be kept alive for a few more months by excruciatingly painful operations that cost hundreds of thousands of dollars? What could be more undignified at the end of the life than to have a nursing-care attendant wake you up to wipe dribble from your chin? And what could be more heartrending than have your family and loved ones see you in such a pathetic condition?

When it comes to prolonging life beyond its normal range, Americans might do well to remember Shakespeare's immortal lines in Julius Caesar: "Cowards die many times before their deaths; the valiant never taste of death but once."

Suck it up America! By the time the ObamaCare disaster craps out; you're going to have to.
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Yes, leave it to the left to determine that they are the best arbiters of what the “normal range” of life is. Being the elitist liberal that he is, of course Kipling perceives that Canadian citizens are “relatively happy” with their national rationed health care. That is the system that has been foisted onto them – for their own good, of course. With no choice, what else are they going to do but to “seem relatively happy” with it and “suck it up?”

But then, some Canadians take advantage of the ability to supplement their rationed “no frills” health care with American treatment by making the trip across the border to receive services in a more timely manner. Perhaps those who the Canadian system has determined are exceeding the “normal range” of life seek a second opinion.

Sure, at some point a person or family might have to decide when further care and treatment is fruitless. The dangerous arrogance lodged in Obamacare and all the other socialist style, government-run health care systems is that a government has the capability and the imperative to make that life-and-death decision in place of the patient and family.

Even though the left continually want to make Palin and other conservatives out to be backwater know-nothings, whose analysis of today’s issues always ultimately ring true?

The Party of Fat-Cats

It has been announced that the new National Security Adviser appointed by President Barack H. Obama is Tom Donilon. It comes as no surprise to me that a president would appoint his cronies to administration positions, and Mr. Donilon does have national security experience in multiple administrations. So an appointment like this comes as no surprise to me. In all honesty, I have no personal objection to it; as I indicated, Washington politics are all about favoritism.


But let’s clear up one BIG MYTH, shall we? The myth is that the Democrat party rejects the influence of Big Business – the party that stands for and with the “regular American.” As a Senator and presidential candidate, Mr. Obama railed against the lobbyist culture that controlled politics and promised to end “business as usual” in Washington politics. With this in mind, let’s take a quick look at Mr. Donilon’s involvement in the Democrat’s new Washington.

In 2006, Mr. Donilon oversaw the office from which Fannie Mae lobbyists used their ties to politicians in an effort to prevent increased federal oversight of the mortgage giant. In 2009, it was reported that Mr. Donilon “earned $3.9 million [in 2008] as a partner at the law firm of O'Melveny & Myers LLP, where his clients include Citigroup, Inc., Goldman, Sachs & Co., and Obama fundraiser and heiress Penny Pritzker.”

The Democrat party, with its ties to Big Business, Big Media, and Big Entertainment, bears very little resemblance to the mainstream Americans it claims to protect.

Let’s bust the myth that the Democrat party has no ties with Wall Street. The Democrat party includes plenty of Fat-Cats.

New Venture Addendum

I forgot to add that my posts on the Liberty Tree are under the name TheOldSalt.