Social Security is in the news as presidential candidates jockey for political position. What you don’t know about Social Security may surprise you. Gary DeMar takes a look at the socialist history of this government pyramid scheme in this edition of Vantage Point!
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In a study released in Financial Times in late 2006, it was revealed that the richest 2% of adults in the world own more than 50% of the total assets, while the poorest half of the population hold a mere 1%. Statistics like this were highly prevalent during the Obama presidential campaign, and they are gaining resurgence from Michael Moore’s recent bit of uninformed celluloid propaganda, Capitalism: A Love Story. Although these statistics may help to foster greed and envy among the poor of the world, they really only confirm the "Golden Rule" of politics – i.e. he who has the gold makes the rule – a point that is well-made by Hernando de Soto in his book The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.
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Many of the improvements in financial conditions can be traced, in part, to policy actions taken by the Federal Reserve to encourage the flow of credit. For example, the decline in interbank lending rates and spreads was facilitated by the actions of the Federal Reserve and other central banks to ensure that financial institutions have [...]
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We bought almost 3 billion dollars worth of semiconductors on average over the past three months. We’ve been trending up since February. This is how the economy is managing to recover despite the hostile business environment and despite a ten percent unemployment rate. As we pointed out last week, the business community is neither hiring, [...]
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The Bible does not minimize the importance of economics. The Garden of Eden makes mention of gold and precious stones: “The gold of that land is good” (Genesis 2:11-12). Jesus used money as a teaching device in many of His parables. John MacArthur, pastor of Grace Community Church, Panorama City, California, said that
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The financial system in the Unites States (and globally, really) is a complex ball-under-the-shell game, with about a couple thousand shells involved. This allows any given official to say, “We’re fixing the problem,” when in reality they’ve simply moved it out of sight once again. By the time you catch up (or think you’ve caught up) they’ve moved it three times more. The public, and most of the financial press, takes the official’s word for it. They’re too confused to do much else.
The switch-a-roo continues with the latest revealing of a plan to remove “toxic assets” from bank books. Obama’s Treasury Secretary Timothy Geithner laid out details that would effect a transfer of as much as $1 trillion in assets, using a combination of public and private investing along with FDIC insurance. The stock markets jolted upwards, signaling what some see as a reversal of the economic crisis. But what is really happening here? While not confident that I understand every detail in this melee (does anyone?), I have a some firm suspicions about the big picture.
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The rich often get a bum rap. Liberals are incensed when it is suggested that “the rich” get any type of tax reduction even though the top 50% of wage earners pay 96% of all income taxes. Since they spend more money, the rich also pay a disproportionate amount in sales, property, entertainment, and excise taxes. Without the rich, most people would not have jobs.
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Tuesday night Obama warned Congress that we need to “sacrifice some worthy priorities … and that includes me,” but his peers in Congress, and his own budget plans speak loudly otherwise. He calls his multi-Trillion dollar deficit a “vision for America.” This is an article about hypocrisy, and about the real American Vision’s alternative methods.
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Perhaps the most telling signal that Obama has no fundamental change in economics came during his December 9 interview on MSNBC’s “Meet the Press.” After discussing his plans for billions of dollars in new bailouts and billions more for government infrastructure programs, he faces, of course, the question of how to pay for all of this. His advice: “we can’t worry short term about the deficit.” In other words, in the short term, print, borrow, spend!
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Sunday, February 1, 2009, was the 60th anniversary of the National Day of Liberty. Officials chose the particular date of February 1 because it was on that day that President Lincoln (besides his many flaws) signed the Thirteenth Amendment to the U.S. Constitution outlawing slavery. The commemorative day was conceived of and first informally celebrated by a former slave, Major Richard R. Wright, who wished for a yearly commemoration of the event. A year after his death, Truman signed a bill (July 1948) proclaiming the observation on Feb. 1.
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TEA-Party Hypocrisy: How Much Socialism Is Acceptable?
Obama Begins Covert Attack on Second Amendment
Tyranny: the "Official Language" of Misguided Conservatives
Five Truths that Republicans Hate
Five Reasons My Generation is Not Getting Married…and what can be done about it
Muslim Students Want to Take Over Christian College
TEA-Party Hypocrisy: How Much Socialism Is Acceptable?
Obama Begins Covert Attack on Second Amendment
Tyranny: the "Official Language" of Misguided Conservatives
Five Truths that Republicans Hate
Five Reasons My Generation is Not Getting Married…and what can be done about it
Muslim Students Want to Take Over Christian College