Source: Campaign for Liberty
Date: 2/7/2009
Key points:
- The “stimulus” package is a pure spending package and it looks like the package will be passed
- 3 Republican Senators have agreed to vote with the Democrats (Sens. Susan Collins and Olympia Snowe, both of Maine, and Sen. Arlen Specter of Pennsylvania)
- In the House, all Republicans voted against the package, but it was too little to late; they are “born again budget conservatives”
- We need more spending, but it has to be done by market forces, not the government
- Artificially low interest rates and inflation caused malinvestment
- The stimulus package is more of the same, and it exacerbates the problem and runs the economy into the ground
- There is now a dollar bubble and there will be a dollar collapse once foreigners stop buying our debt
- Government intervention, socialism paper money, and dependency on the government brought us to our knees
- There is hope as many people are looking into this matter; we must do our very best to move this country into the right direction
Read CNN’s article on the video.
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The USA has created a situation that US gold; US currency; stocks, title to US properties, businesses, and other US assets are leaving the USA to pay people in foreign countries to manufacture the things that US citizens consume in amounts of annual value that are greater than they would be if US citizens were manufacturing more of the things in the USA that US citizens consumed in the USA. We must change this situation or we will become a post WWI Germany economically. This could happen overnight when we have sold title to all of our real estate, farms, agri-businesses, food supplies, dairies, forests, industries, breweries, hotels, factories, casinos, financial institutions, retail businesses, and all of the other assets located in the USA for freshly printed US Bonds and T-Bills to foreigners in return for their US dollars they earned making things for us to consume, and have nothing of value left to sell.
A Trade Deficit is created when the USA importing, transportation, distributing and retail sales companies such as WalMart, Home Depot, NTB and etc. pay companies and individuals in foreign countries like China with US dollars to manufacture the things that these US businesses import, distribute, and then sell to the US consumers. Manufacturers such as GM, Ford, GE, Chrysler, GE, Westinghouse and etc. manufacture vehicles, appliances, and equipment made with imported parts that they paid the companies in the foreign countries with US currency to manufacture these parts for assembly of the finished product in the USA that is then sold to US consumers.
The US government also “borrows” US dollars or actually they sell freshly printed-paper T-Bills, US Government Bonds, and other US securities (that can be redeemed for title to US real estate) at public Federal Reserve auction to China, private individuals, and other industrialized countries that earned US dollars mostly by manufacturing things for international trade) to pay US government expenses including negative balance of trade, wars, military jets with active duty military USAF pilots for the personal use of specially privileged members of congress (Pelosi), employee payrolls, government retirement checks, courts, federal police, failed business bailouts, cash bonuses to the various Wall Street forgers of SEC documents that contributed to political campaigns, Las Vegas corporation junkets for failed corporation employees, foreclosed house mortgages for big spenders with bad credit, new multi-million dollar French manufactured personal corporate jets for political contributor’s bankrupt corporations, pork barrel projects, research contracts, Welfare, Social Security, Medicare, Medicaid, SSI, expensive corporate vacations, new infrastructure, wealth re-distribution, mental health services, imported consumer goods and any other thing that congress and the president decides to use taxpayer money to acquire, build or just give to their political contributors and various other privileged individuals with borrowed US dollars. If taxes taken in each year are not sufficient to pay these expenses, then the government just prints more paper T-Bills, Government Bonds, etc. and sells them at auction for US dollars from people who are holding US dollars (foreign industrial manufacturers) in exchange for these freshly printed T-Bills, Government Bonds, etc.
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Real wealth and real monetary value is created only when a country (or an individual family) sells something to parties outside of that country (or family) in return for a net transfer of gold or currency from other countries to that country (or family). The citizens of that country reflect their real wealth with the accumulation of grain, gold, cattle, jewels, land and/or other marketable products and commodities for reserve use in times of emergency and/or also to raise the standard of living for the citizens of that country.
The people in the country that grew and harvested something from the earth, that extracted something of commercial value from the earth, that provided services (medical, dental, engineering, technology, etc.), and/or that made (manufactured or constructed) something that is consumable (or useful) that was sold outside of that country in exchange for foreign currency (or other commodities to other parties outside of that country) created wealth for that country from the currency received from the sales of those services and products and this increased the real wealth of that country (or family).
The USA has almost entirely ceased to generate wealth for future US generations. The USA has elected to sell or export title to US real estate, farms, agri-businesses, food supplies, dairies, forests, industries, breweries, hotels, factories, casinos, financial institutions, retail businesses, and most other assets located in the USA in order to raise money to pay people in foreign countries to manufacture the things that US citizens consume without US citizens working, and also to pay for US government expenses.
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Great post.
‘Value Added’ is what we used to call it. As far as I can tell this term has disappeared when it comes to discussions of economics.
It used to be said that wealth is not created pushing a pencil.
I guess now we could say ‘Wealth is not created pushing buttons’.
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Why not call it a national sales (consumption) tax, disband the IRS, and fire most all of the IRS employees. This might be more truthful than an “Value Added Tax” like in the EU where no value is added, only the cost increased.
How about making New Products, New Vehicles, New Houses, New House Additions & Improvements, Fast Food, pre-prepared food from grocery stores, Restaurant Charges, Sports Tickets, Entertainment Expenses, New Vehicles, New Boats, Building Materials, all labor, and other similar new purchase items taxable. We could make used cars, auto parts, used houses, used furniture, and used clothing not subject to the sales tax, because these items were previously taxed when these items were new. I believe that uncooked grocery store food, residential rent up to $700/month, any new clothing items under $15.00 and maybe other items that the poor folks consume could also be tax exempt to help the poor.
How about making higher educational costs tax exempt also, or partially paid for by the government is it is something that will benefit the USA, like education, science, engineering, and/or something that will help the economy.
Businesses would also pay these taxes on new plant constructions, new plant expansions, plant maintenance supplies, maintenance labor, operating labor, administration Labor, consumable office supplies, replacement parts, and other expense items that are used in the business (and not re-sold).
Wholesale materials, parts, etc. that are re-sold should not be taxed until the final sale is made to the end user or retail consumer (like state taxes). If you buy a used house, you pay no sales tax, but when you remodel and/or improve it, you pay sales taxes on the material, and on the labor as you obtain these items to improve the value of your property.
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good good
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How do you get people to wake up and see the fiends behind the fiends who are orchestrating the downfall?
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[...] billion blow out without reference to Ron Paul – the guy who should be president. Here’s a YouTube video of Dr. Paul explaining why this package isn’t what many think it is and why it’s going [...]
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The voice of truth and reason speaks again. Ron Paul 2012!
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This is such a simple concept that Ron Paul eloquently argues. He is absolutely right that we are essentially throwing kerosine on an already out of control fire.
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get detroit back to work
this is my idea tell Congress
“Only let them do this only if they build all there cars in the UNITED STATES”
Let Ford and GM Raffle off 50 cars each, in every State of the UNITED STATES every month.
Let the People that win the cars have the car with out being taxed for wining them.
WITHOUT NO BANKS INVOLVED
50 cars x 50 states = 2500 cars a month
2500 cars x 12 months = 30000 cars a year
$20,000.00 per car x 50 cars = $1,000,000.00 per state a month
$1,000,000.00 x 50 states = $50,000,000.00 PER Month
$50,000,000.00 x 12 months = $600,000,000.00 a year
$5.00 a ticket, 4000 tickets per car = $20,000.00
Put the Raffle tickets in the glove box as they leave the factory.
“Only let them do this if they build all there cars in the UNITED STATES”
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You have to ask the question whether or not the Fed Res is orchestrating the collapse of the US $.There are many who want the North American Union of Mexico,USA and Canada.{Similar to the EU}
Is the Fed Res trying to force the US people into a corner so more power can be gained by the Fed Res via controlling the currencies of 3 countries?
What do the people of the USA do if their currency does collapse?
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