Dr. Peter Leeson discusses why the Stimulus plan from Obama will not work. He also discusses his new book, the Austrian Business Cycle, and Government Spending.

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Tags: anarchy, Austrian Business Cycle, bailout, barack obama, BB&T Professor for the Study of Capitalism, capitalism, dr. peter leeson, economics, libertarian, pirate, Stimulus plan, The Invisible Hook

Current H.R. 1207 Co-Sponsors:

Why Hasn’t Tammy Baldwin Signed On?

Why does Democratic Wisconsin Congresswoman Tammy Baldwin (D-WI) continue to refuse to cosponsor H.R 1207 that will allow the auditing of the central bank in America?  Maybe her friends on Wall Street have asked her not to do it.  With all the money that she voted to be moved out of Wisconsin to Wall Street, I’m sure she isn’t excited about auditing the central bank of America.  Tammy Baldwin is a Democrat that does NOT believe in protecting the common person against corrupt practices by a central bank monopoly.

Thankfully, Tim Nerenz Will Replace Tammy In 2010

Thankfully, Tim Nerenz will be replacing Tammy Baldwin in the 2nd Congressional District in 2010.  Check out his website.

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Tags: 2010, 2nd congressional district, bailout, congress, democrat, Federal Reserve, h.r. 1207, libertarian, tammy baldwin, tim nerenz, wall street, wisconsin

A company that should have gone through the normal bankruptcy process, has had its incompetent CEO, Rick Wagoner, fired by another incompetent CEO, Barack Obama.  Obama plans to run this company now.  Jeff Tucker at Mises.org says that Rick Wagoner leaving the firm is creepy though.  I agree.  Read his post to find out why!

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Tags: bailout, barack obama, ceo, fired, general motors, gm, jeffrey tucker, ludwig von mises institute, management, rick wagoner

Wisconsin has a terrible set of Congress critters.  Five of them were recently found guilty of voting to enslave children, elderly, and poor individuals to a decreased standard of living because of the inflation necessary to pay for the bailouts AND bonuses they authorized to AIG employees.  In the photo above, you see those that were forced to pay for AIG bailouts and bonuses setting up home outside of AIG headquarters because the inflation of the money supply has destroyed their savings and they can no longer afford shelter.  This is a sad truth of what is coming around the corner due five guilty Congress members in Wisconsin.

Wisconsin Congress Members Found Guilty Of Voting Yes To Authorize AIG Bonuses:

1. Tammy Baldwin
2. Ronald Kind
3. Gwen Moore
4. Steve Kagen
5. David Obey

All five voted to make the children, elderly, and the poor of Wisconsin economic slaves to AIG by not giving them an option to to opt-out of the requirement to give a portion of their current and future incomes to AIG employees.  These individuals also were not given an option to opt-out of the increase in prices of food and shelter that will soon occur because of the increased printing of U.S. dollars out of thin air they authorized to pay for the AIG bonuses and bailout.  I’m sorry.  Why do these criminals in Congress vote yes to print bailout money out of thin air which destroys the value of current money saved and raises food and shelter costs for everyone?

I wonder if Ron Kind is going to give back all that money AIG gave him in 2008?  I bet that money they slid him was a good reason for him to approve all those AIG bonuses!

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Tags: AIG, bailout, bonus, congress, cost-of-living, david obey, economy, f. james sensenbrenner jr., government, guilty, gwen moore, inflation, money, paul ryan, ronald kind, slave, steve kagen, tammy baldwin, taxes, thomas petri, vote

Tammy Baldwin has created a monster that is going to destroy the poor, children and elderly in Wisconsin.  She voted to create an AIG zombie company.  A living dead company.  AIG would have gone bankrupt and went away on its own and not cost anyone a dime.  However, Tammy Baldwin is a predatory congressional legislator from Wisconsin’s 2nd Congressional District, and she voted to make the children and elderly of Wisconsin economic slaves to AIG by forcing them to pay cash payments and inflation costs to the wealthy on Wall Street working for and with AIG.

Tammy Baldwin is forcing Wisconsin’s elderly and children to a decreased standard of living because of the inflation and subsequent higher living costs that the printing of US dollars to fund her bailout to AIG has created.  Tammy Baldwin is also forcing Wisconsin’s elderly and children to pay current and future cash payments to AIG through taxes to cover the bailout borrowing and interest payments on the cash she authorized for her friends living on Wall Street.  If these children and elderly cannot pay their taxes or refuse to pay taxes because they feel that Wall Street has no right to their hard-earned cash, Tammy Baldwin knows that these individuals will be either incarcerated, or if they refuse to surrender, be violently apprehended by members of the police-state.  Tammy Baldwin is a despicable criminal for making sure that money is stolen from the poor, elderly and children living in Wisconsin.

In 2010, Tammy Baldwin will be replaced by Dr. Tim Nerenz in the 2nd Congressional District.  Tim’s latest remarks regarding a lot of the major problems created by government are enlightening.  The solutions are simple.  Check ‘em out here.

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Tags: 2nd congressional district, AIG, bailout, bonuses, children, elderly, jail, poor, prison, slavery, tammy baldwin, taxes, tim nerenz, wall street, wisconsin

CNN Video

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Tags: AIG, bailout, bouns, congress, congresswoman, ron paul, scandal, tammy baldwin, wisconsin

AIG employees under their bad breath are thanking Wisconsin Congresswoman Tammy Baldwin that she voted to pull money out of the hands of Wisconsin workers, children and elderly to reward AIG for its excessive greed and corruption.  Thanks to Tammy Baldwin, AIG employees will get $165 million dollars in fun money for their hard work in keeping the company’s corrupt business going.  The bonuses likely would not have been paid out if there had been no bailout approved by Tammy Baldwin.  No bailout = No bonuses.  Simple math really.  Anyways, $165 million to have some fun in the sun!  Woo-hoo!  I need to start applying for jobs at companies that Tammy Baldwin is taking cash from the elderly in Wisconsin to bail out.  I wanna get my hands on some of that free cash!  It’s all free money!  Free, free, free!!!  I’ll have to get a list from her of her future bailouts using Wisconsin cash.

Other grateful recipients of Wisconsin cash thanks to Tammy Baldwin are Germany’s Deutsche Bank ($11.8 billion) and Britain’s Barclays PLC ($8.5 billion) for money which they received through AIG and hence through Wisconsin’s workers, children and elderly.  Tammy Baldwin apparently has gone international!  You go girl!

Associated Press:  “Taxpayers unlikely to be fully repaid in AIG mess”

2010 is right around the corner and time to replace the local Congresswoman Tammy Baldwin.  I mean, how much cash do you have?  Another vote for Tammy Baldwin is like you taking your wallet to the Mississippi river and opening it wide and watching your hard-earned money catch a fast-flowing current to another state.

Well, thank the Norse god Odin that he has provided a replacement for the terribly corrupt international bankster puppet—Tammy Baldwin.  Again, since discovering Dr. Tim Nerenz, I have been extremely happy.  I was expecting some goofball like Peter Theron to run against Tammy Baldwin again.  No ma’am.  We have ourselves a PhD with an excellent handle on economics.  Guess what his prescription for economic recovery is?  No it’s not robbing Wisconsin’s workers, children or elderly and handing their money to criminals in New York—Tammy Baldwin’s prescription.  Check his prescription out for yourself.

Dr. Tim Nerenz’ campaign website

Tim Nerenz’ blog

Tim Nerenz on Facebook

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Tags: $165 million, 2010, AIG, bailout, bonuses, children, congress, corruption, elderly, fraud, international, peter theron, tammy baldwin, tax, tim nerenz, wisconsin, worker

Immense gratitude goes to one of the commenters in this forum for the idea for this post title.

As the federal government continues to borrow and print paper money (because it is bankrupt) and directs it into unprofitable worthless financial companies and now incompetent automakers, the federal government is destroying thousands of good profitable jobs and companies as profitable firms will not have access to this capital redirected by government.  As Peter Schiff mentions in these videos, government is directing capital away from profitable use and funneling it into unprofitable use.  Then, because the federal government has destroyed valuable profitable firms and products, customers decide to hold their cash as they don’t want to purchase the products offered by the firms that the government has bailed out.  Giving money to incompetent automakers does not change the fact that customers still will not buy the products of these failed institutions.  This creates a recessionary effect over short and long periods of time and so government will then feel it must try to correct the recession they have created.  How do they attempt to fix it?  By borrowing and printing more scraps of Federal Reserve Notes.  They do this directly through printing presses and indirectly by lowering interest rates.  Of course, printing more scraps of paper then what was already in circulation doesn’t create wealth or fix the problem of unwanted products, but it does create inflation.   Well, maybe with all those trillions of scraps of worthless paper (the US dollar) the federal government has been printing, the worthless soon-to-bailed-out firms of GM and Chrysler will be mandated by government to produce a hybrid that runs on these worthless notes.  That would be a fitting relationship—three failed institutions, the Federal Reserve, GM and Chrysler teaming up to produce a worthless product that runs on worthless scrap paper—neither of which there will be any shortage of in the future thanks to government intervention.  Imagine what a wonderful world would we live in if companies succeeded or failed based on how well they met the needs of individuals in society.

Peter Schiff on CNN Auto Bailout Intense Debate! 12/4/08 part 1/2

Peter Schiff on CNN Auto Bailout Intense Debate! 12/4/08 part 2/2

The Federal Reserve will end this economic crisis! Right?

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Tags: automakers, bailout, chrysler, detroit automakers, Federal Reserve, gm, inflation, peter schiff, scrap paper, us dollar

I thought these excellent words of wisdom from Ludwig von Mises in his book, Human Action: A Treatise on Economics, were never more appropriate as regards tax-paying individuals and feeble minded government workers at the federal level that continue to bailout, subsidize, and give welfare handouts to prop up some of the biggest business failures in American history.

The gullible masses who cannot see beyond the immediate range of their physical eyes are enraptured by the marvelous accomplishments of their rulers. They fail to see that they themselves foot the bill and must consequently renounce many satisfactions which they would have enjoyed if the government had spent less for unprofitable projects. They have not the imagination to think of the possibilities that the government has not allowed to come into existence.

These enthusiasts are still more bewildered if the government’s interference enables submarginal producers to continue producing [p. 660] and to stand the competition of more efficient plants, shops, or farms. Here, they say, it is obvious that total production is increased and something is added to the wealth that would not have been produced without the assistance of the authorities. What happens in fact is just the opposite; the magnitude of total production and of total wealth is curtailed. Outfits producing at higher costs are brought into existence or preserved while other outfits producing at lower costs are forced to curtail or to discontinue their production. The consumers are not getting more, but less.

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Tags: bailout, human action, ludwig von mises, subsidy

Congress as a whole is rather anti-intellectual.  Ron Paul picks up the slack though and delivers great advice every time.  Ron Paul answers the following questions with enlightening commentary:

• Is the recent tweaking of the bailout plan good news or bad news?
• Is the central plan to “save” the dollar in reality “attacking” the dollar?
• Is the recently new monetary system we have had since 1971 working?
• What are some of the problems and consequences of this recently new monetary system?
• What do the consequences of the monetary system mean for average individuals living in Madison, WI?
• Is our monetary system moral or immoral?  Why?
• What are the good components of Barack’s or McCain’s platform?
• What are the bad components of Barack’s or McCain’s platform?
• What ideals do individuals need to uphold to make this economic situation better?

Tags: bailout, barack obama, inflation, john mccain, keynesian economics, ron paul