Socialism and the End of the American Dream

Executive Orders (EOs) are legally binding orders given by the President, acting as the head of the Executive Branch, to Federal Administrative Agencies. Executive Orders are generally used to direct federal agencies and officials in their execution of congressionally established laws or policies. However, in many instances they have been used to guide agencies in directions contrary to congressional intent.

Oouch!. good article:: "There should no longer be any dispute that Barack Obama's aim is to socialize the American economy - as he vaporously puts it, to bring about "redistributive change." The real question is how he'll go about it. Very likely, the answer lies in a potentially cataclysmic treaty that has gotten virtually no attention during the campaign: the International Covenant on Economic, Social and Cultural Rights...... Obama sought to prove his point by citing the justices' failure to take on "the issues of redistribution of wealth, and of more basic issues such as political and economic justice in society............ Of course on the latter occasion, when Obama spoke of planning to "spread the wealth around," it was a slip. The candidate is far more guarded now than he was in 2001, just as he was more coy in 2001 than in his mid-Nineties incarnation - when he first sought to represent an extremely left-wing district and embraced his endorsement by the radical Chicago New Party (ACORN's electoral arm with ties to the Socialist International). ..."

The Heritage Foundation has put together an extensive list of articles on the Housing and Financial Markets Crisis. There are three issues of great concern. We need to get to the bottom of what caused this crisis and why? We need to understand how we got here before locking into to long term economic proposals that ignore the political root causes! We also need to understand how our government has managed to compromise the constitutional principals that served this country so well for so long. This page of articles and commentaries is a great place to start.

The politics of global conflict, trade, and idiological differences

The InTrade realtime electoral vote predictor has been tracking Dow Jones stock market averages with near perfect precision. As Obama's stock rises on InTrade, (and McCain's falls), the Dow Jones sinks. Meaning, McCain's InTrade value is tracking the stock market averages with an incredible precision. This should not come as a surprise since InTrade Prediction Market investors are betting on what they believe to be the elections outcome. They do not bet on who they personally favor or politically support. McCain has an investor friendly - free market friendly - capitalist friendly tax plan. Obama is a socialist bent on taxing the productive members of the economy to redistribute those valuable investment and business resources to the least productive. Obama is not offering a wealth producing - jobs producing plan. Socialism is not what made America an economic powerhouse - a wealth producing engine the likes of which mankind had never previously seen or imagined. Free market capitalism balanced with Constitutional rule of law, property ownership and individual freedom account for this success. All of which the free market traders at the Irish InTrade market seem to recognize as important.

But then a caller challenged Frank's continued insistence that the meltdown was brought on by Republican deregulation, citing the 1999 NY Times article concerning Clinton Administration efforts to force Fannie to ease mortgage standards in order to provide more minority and lower-income lending. The caller reminded Barney of his own words as ranking member from a 2003 Times piece reporting Bush's initiative to reign in Fannie and Freddie by creating new oversight under the Treasury Department:

The rule of thumb for fact checkers of Thursday night's vice-presidential debate was that every time Joe Biden sounded especially confident, he was saying something that wasn't true. Levin tracks the many lies, distortions and half truths Joe Biden used in the debate and the Obama campaign uses in ads to smear John McCain. The healthcare lies are especially revealing.

Shockingly, after the worst month of financial news in a generation, his frenetic and ineffectual response to the crisis, and two indecisive debates, he is within mid-single digits according to the RealClearPolitics poll average. It seems almost unbelievable that his candidacy would still be viable, and yet it is. So how should he spend the last four weeks of his campaign if he wants to stage the most remarkable comeback in presidential politics?

What follows is by no means comprehensive, but it does shed some much-needed light on a number of Obama's positions, statements, and associations about which he has been less than honest. We've attempted to boil each issue down to a succinct explanation with an accompanying, brief video clip-often starring Barack Obama in his own words. Before pulling the lever for someone who hopes voters will ignore his paper-thin resume, unsavory associations, and hard-left voting record, each citizen has a duty to do his due diligence.

Contrarian that I am, I'm voting for John McCain. I'm not talking about bucking the polls or the media consensus that it's over before it's over. I'm talking about bucking the rush of wet-fingered conservatives leaping to Barack Obama before they're left out in the cold without a single state dinner for the next four years.

In sum, Mr. Obama is proposing to use the tax code to substantially redistribute income -- raising tax rates on a minority of taxpayers to finance tax credits and direct income supplements to millions of others. How much revenue his higher rates would raise depends on how much less those high-earners would work, or how much they would change their practices to shelter their income from those higher rates. By contrast, Mr. McCain is proposing some kind of tax reduction for most Americans who pay taxes. He says he would finance those cuts by reducing the rate of growth in federal spending.

Comprehensive history of Obama's socialism, and the associations that influenced him.

The Great Depression of the 1930's tested America's political institutions like no other event in our history except the Civil War. Much as Lincoln saved the Union and established the symbols of American nationalism, so Franklin Delano Roosevelt (it is said) saved capitalism from itself and laid the framework for the American welfare state.

Fueled by easy credit, the real-estate market had been rising swiftly for some years. Members of Congress were determined to assure the continuation of that easy credit. Suddenly, the party came to a devastating halt. Defaults multiplied, banks began to fail. Soon the economic troubles spread beyond real estate. Depression stalked the land. The year was 1836.

Amity Schlaes, author, "The Forgotten Man," re the mistakes made by Herbert Hoover and/or FDR in 1931-1934 that deepened the recession into the Great Depression.  Amity identified the four errors, what I call the four horseman, as taxes, protectionism, class warfare, and the abuse of private capital so that it leaves the marketplace.  One of these four is already in place in the closing weeks of the Bush administration as a result of the extraordinary bullying session of October 13 at the grandiose office of Hank Paulson at Treasury when the nine biggest banks in the country were forced to accept Treasury billions in exchange for accepting the regulations and unknowns of the executive and the legislative branches.  Private capital is no longer safe from Congress, and in the 1930s the effect was to drive private capital into hiding.  

According to Reagan Economist Arthur Laffer: This administration and Congress will be remembered like Herbert Hoover. Twenty-five years down the line, what this administration and Congress have done will be viewed in much the same light as what Herbert Hoover did in the years 1929 through 1932. Whenever people make decisions when they are panicked, the consequences are rarely pretty. We are now witnessing the end of prosperity.

Speaking on a call-in radio show in 2001, you can hear Senator Obama say things that should profoundly shock any American - or at least those who have not taken the time to dig deeply enough into this man's beliefs and affiliations. Read the text or Hear it for yourself!

Quote from Obama: "I will cut investments in unproven missile defense systems. I will not weaponize space. I will slow our development of future combat systems. [snip] I will set a goal of a world without nuclear weapons. To seek that goal, I will not develop new nuclear weapons. I will seek a global ban on the production of fissile material. And I will negotiate with Russia to take our ICBM's off hair-trigger alert." Wow. Is Barack Obama planning a unilateral drawdown of U.S. forces? He says that's what he wants, and he sounds pretty clear about it to me.

All three liberal waves have transformed American expectations of the state. The spirit of the age is: Ask not what your country can do for you, demand it. Why can't the government sort out my health care? Why can't they pick up my mortgage?