Tuesday, August 10, 2010

Obama's Dangerously and Rapidly Expanding Government

The only proper purpose of a government is to protect man's rights, which means: to protect him from physical violence...The only proper functions of a government are: the police, to protect you from criminals; the army, to protect you from foreign invaders; and the courts, to protect your property and contracts from breach or fraud by others, to settle disputes by rational rules, according to objective law.” (John Galt, "Atlas Shrugged").

I think we can all agree that Government does not create wealth. I'm not a fan or advocate of Glenn Beck, however this is a must-watch video excerpt which explicitly outlines just how insidiously expansive and invasive the Government is becoming under Obama's Presidency:

Anyone who watches that and is not completely horrified and fearful needs to have their head examined.  Is this what everyone who supported/supports Obama voted for?

This brings me to my next point.  The House is set to pass legislation today which will require that the Government borrow ANOTHER $26 billion in order to keep Government employees employed. Let's take a look at Government employee pay vs. private sector pay.  In March, USA Today released a study which showed that Government employees earned $67,691 on average vs. $60,046 for private sector workers.  This disparity becomes grotesque when you include Federal employee benefits valued at $40,785 vs. $9,882 for those employed by real businesses.  That's total average compensation of $108,476 for mostly useless, non-productive Government piss-ants vs. $50,667 total compensation for those trying to make an honest living and contribute to the country's real economy.  Here's the link:  Unbelievable, horrific Still feel good about voting for Obama?

The reason Obama is dumping massive pay and benefits - and extending unemployment benefits ad infinitum - is contained in the wisdom of George Bernard Shaw:  "A Government that robs Peter to pay Paul can always count on Paul's support."  I guarantee you that Obama is doing nothing more than counting the votes of more and more Government leeches every time he signs this kind of legislation.

Here's the problem:  Government spending is largely nothing more than a massive transfer of wealth and income from the private sector to the Government and its increasingly loyal employees.  Nothing more.  In fact, at this stage of the ongoing systemic, slow-motion collapse of the U.S., the Government has to now borrow 45 cents for every dollar it spends.  How do I arrive at this?  The stated Federal budget for FY 2010 was $3.55 trillion.  At the end of 2009, Treasury debt outstanding was $11.9 trillion. It is projected to be $13.9 trillion for 2010.  The projected deficit was forecast to be $1.17 trillion.  Yet the Treasury will be issuing $2 trillion in debt this year.  The difference is explained by the off-budget spending like the war on terror, the bailout of FNM/FRE/GM etc.  So the real Government spending will be around $4.38 trillion, of which $2 trillion is borrowed.  Got it?  The amount of debt issued by Treasury is 45% of total spending, or 45 cents for every dollar spent.  I'd really love to see a transparent and true accounting of all of that "off-budget" spending, which will be around 19% of total spending.  Didn't Barak Hussein promise us a more transparent and open Government?  Hmmm...

One more point of rant today.  The FOMC announced today that the Fed will be buying more Treasury debt to help support the economy.  Can someone please explain to me how enabling the Government to borrow even more more money actually supports the economy? The only way you can hope to protect yourself against the abuses of the Obama Government and corrupt banking system he enables is to move as much of your wealth as possible into physical gold and silver and some into mining stocks.


  1. Glen Beck? Glen fucking Beck? Since when are we listening to low-grade morons?

  2. I know man. If you notice, I diplomatically qualified my reference to him. But that quick video is priceless.

    Someone commented that other day that I sound like Glenn Beck. I replied "au contraire, Beck is finally talking about the material I was discussing nearly 10 years ago with friends/colleagues"

  3. Even Paul Krugman makes sense from time to time, HA!

  4. I understand. But I watched GW Bush increase the size of government for eight years and heard not a peep from so-called conservatives like Glen Beck.

    Beck is one among many paid shills masquerading as informed opinion, while promoting the idea that there is actual debate between the two major U.S. political parties. He should be shunned.

  5. Don't be too quick to mock Beck, who is the left's favorite whipping boy. He's been talking economic sense for a long time.

  6. Dave in Denver, you have to be pretty desperate to use Glenn Beck to support your points.

    Do you know what the $26 billion is FOR? It's to keep teachers and emergency responders in their jobs. You against that? You also against extending the Bush tax cuts for the top 2%? Or are you for it? If for it, your priorities are screwed up royally.

    Seems to me you've become a racist tool of the right. I know, I know...it's your free-speech rights. It's also my right to point out that charging a President whose policies you don't agree with as giving "Ghetto jive talk", being a a "Chief Ape" while also being a "pimp" and shown with bling is frickin' off the rails, man. It's over the top. You lose all credibility by posting such utter crap.

    I think you have more in common with Beck than you admit. You are both reactionary demagogues.

  7. Yer an idiot. You have to pay for what you get. Our educational system is so fucked up it's beyond pathetic. You know what the $26 billion is for? It's so that people like the Superindendent of the Aurora Public School System can get paid his $750,000/yr. Public employees make way too much money. Teacher benefits are absurd. You are a complete idiot.

    Yes, Obama is a pimp. Complete pimp. I guess you're okay with paying for Michelle Obama and her friend's trip to Spain. LOL.

    I've forgotten more about what's wrong with our system than Glen Beck will ever know. That video was used to illustrate a specific point that obviously went way over your head.

  8. Reactionary demagogues like you never admit when they're wrong. It's your way or the highway, right? You know ALL the answers, I'm sure.

    In reality, you buy into all the extreme right-wing talking points uncritically. Too bad....you make some sense when sticking to gold and silver.

    But, HEY, let's punish all the schoolchildren because there's an overpaid Aurora bureaucrat you want to cherry-pick. You also never answered my question about those Bush tax cuts. You want to extend them for the rich, buddy?

  9. >>"You are a complete idiot."

    Apparently you're unable to engage in constructive discussions, Dave. I've noticed, lately, that you simply lash out at anyone who disagrees with your perspective. What's the point of allowing comments if you simply disparage anyone with an opposing viewpoint? Granted some of your points are valid - but some of them are not. You seem to delight in using the most deprecating language without ever considering that maybe you're not as smart as you think you are. If you were truly interested in having a dialogue with your readers, you would be able to make your points using intelligent discourse. Instead, you simply blast all of the posters who don't agree with you. As Anonymous succinctly noted, "You lose all credibility by posting such utter crap." Also, unlike Anonymous, I'm willing to be identified.

  10. Why would you do a disclaimer that you are not a fan of Glenn Beck? Glenn Beck is very much on target, and you should be a fan. Those who don't think so should watch and pay attention. Good clip, BTW. I saw the link to here from Harvey Organ's blog.

  11. The point was valid and well illustrated visually and the fact he failed to point out Bush's sins does nothing to mitigate the sins of today.

    Most of us know Beck is a shill and a "left wing whipping boy"...that's his job. Just like Olberman and his ilk on the other side.

    If Olberman makes a valid and visually impacting statement about the ills that abound today I'll applaud that too...while hating the utterly false and destructive left/right divide that both he and Beck so ably foster.

  12. Anonopuss, please when speaking in full sentences always end with a Ba Ba Ba. You sound like the biggest whine ass'ing sheep I have ever seen. It's nice that you think $26 billion out of thin air to keep job is a good thing, no wonder this fucking country is going down the tubes it's long standing DOPES like you who defend this shit. Do us all a favor go somewhere else, maybe the Democratic Underground site has everything your looking for.


  13. You are both reactionary demagogues.


    And your a boot licking idiot who no doubt is on a Union payroll. DOWN WITH THE UNIONS! scum sucking leeches and useless beyond the word useless. You quote Teachers? Hey lard ass when was the last time you seen a TEACHER, actually Teach? Over paid drama queens that what teachers are.

  14. Dave, I'm the reader who said that you sound like Glenn Beck. It was meant as a compliment because both of you are talking straight and trying to tell the TRUTH about what is really going on with our country and economy. This drives the left absolutely nuts because it exposes their real objectives and real agenda. The overwhelming majority of Beck bashers --including those on this blog--have never even listened to or watched Beck. They know little, if anything, about him or where he's coming from. The Beck bashers have a built-in bias against him because he is a CONSERVATIVE and they are liberals, progressives, or leftists. I'd like to see any of them dispute Beck fact for fact on any issue; it'd be like bringing a knife to a gun fight.

  15. Wow. Glenn Beck elicits a lot of AC/DC electricity. Even more than Mish and Denninger. ROFLMAO.

    I don't really watch Glenn Beck but I know he's making a lot more money than he should be with his gold promoting. Glenn Beck's views today might have been contibutive to my body of work 8 years ago, but back then he was busy licking Bush's balls and had no clue what truth/reality is.

    I don't have a problem with people who slavishly follow Beck the way they blindly follow Mish and Denninger, but they are missing the bigger picture. That road has already been travelled.

    Give some ideas about what life will look like when viewed thru the front windshield, not the rear-view mirror. That is what I try to do on this blog. Beck is an unoriginal dullard who is doing nothing more than repackaging information that has been already been analyzed and processed by myself and my colleagues for nearly a decade.

    Where was Beck when gold was trading below $300 and silver at $4? I was buying with both hands...

  16. Dave, I sense a contradiction..."I don't really watch Glenn Beck..." vs. "Beck is an unoriginal dullard who is doing nothing more than repackaging information..." How do you know this if you don't watch him?

    If you watched him (regularly) you might know Beck spends most of his show discussing largely untaught American history--such as progressivism--and how it relates to what is going on today. And he clearly tells us EXACTLY where we're going to end up--certainly if the current progressives, leftists, and other assorted radicals stay in charge.

    Also, who the heck cares where Beck was when gold was trading at $300? It's irrelevant. The GB show is not about precious metals; your blog is.

    Perhaps you should stick to what you know/do best and let Glenn stick to what he knows/does best. I mean he only made $35 million last year. Just a thought.

  17. Right. My point exactly. He's spoon-feeding some of the interested masses information they should have been educated on in junior high and high school. That's fine but it's no-value-added for my purposes.

    I want to analyze how the FUTURE will unfold. That is why I started buying gold below $300 nine years ago. Beck was still chasing internet stocks and licking W's anus.

  18. Tell what is going to happen next. You want a good roadmap for discussion: read or re-read Atlas Shrugged. Look at how Weimar Germany unfolded. That is what is ahead of us in some form.

    Now, do I want to really make a killing and leverage my gold and silver? And at what point do I get the fuck out of this country before it collapses into some form of overt totalitarian fascism? Those are the questions that need to be answered. Beck will get to that subject by the time it's too late for the FoxNews zombies to leave the country...

  19. SofaKing angry.

    I just can't tolerate the bleeding heart crap about the children. There is 36 Billion dollars being allocated to fund state medicare and teacher pension shortfalls; this is in addition to the 460 Billion out of the 700 billion "stimulus" money that went to state budget shortfalls. The silly part is that this new round of money comes from reductions in the food stamp budget...how about the children living off food stamps, you hypocritical pricks.

    We are all looking at substantial tax increases over the next few years in addition to diminished buying power with our salaries so that the looter class can have their million dollars retirement packages. If anyone out there believes this to be false then you have been demoralized past the point of self-redemption and you should seriously seek professional help to restore some resemblance of rational thought.

    It seems like the real powder keg in this country is routinely glossed over; excessive public pension and benefit packages which are extremely underfunded. Most of these plans much like the University endowments were tinkering in some rather sophisticated investments and were promising benefits based on 20-35% annual returns. Well they all took a bath the past two years, they'll never see those types of gains and guess what? The taxpayers now need to cover their stupidity.

  20. Hey Chico Loco

    Howz your poco pebbles?

    USD roaring back big style.

  21. SofaKing would like to share this You Tube clip:


    Leftist morons should pay special attention beginning around 6:30 with 7:05 being particularly pleasing.

  22. Beck is an informative entertainer. Yes he is repackaging (believe me Ron Paul started this revolution) And this repackaging is useful in todays american idol mentality. Out of the two major camps in whats left of the GOP (after the destruction of Bush) Beck is closer to the Neo-con Lindsey Gramm, Cheney camp than the Ron Paul camp.
    He like many other americans "play" with the concept of liberty. They want to be like Paul (and Medina of texas), but cant let go of foreign policy interventions. It used to be that good little members of the GOP thought the Govt was dangerous at home but somehow has the Midas touch in foreign policy. Rino's changed that. (Bush opened the door to Obama)

    Beck is just still learning.
    Americans are scared of liberty(because its the absence of total security) and of course total security is slavery...

  23. Dave, you seem angry today. Also, vulgarity doesn't suit your style. You're not on a Wall Street trading floor anymore. Anyway...

    Beck has discussed in detail time and time again how things are going to unfold. He's correctly foretold many events and isn't hesitant to show his viewers the actual tape of when he said it...in some case two years BEFORE it happened. If you watched him on a REGULAR and CONSISTENT basis, you would know this. You and he are are actually on the same page and making the same exact points.

    I may watch Fox, but I'm no zombie. I can think and act for myself and adequately prepare for the shit storm ahead of us. For me, that includes lots of gold and silver.

  24. Sheesh. My first time at this blog. Probably my last. What is with the divisiveness? Atlas Shrugged is fantastic. (Did Hank Reardon make too much money?) Ron Paul and Glenn Beck are also fantastic. I was at a Ron Paul birthday bash in Galveston and brought up Glenn Beck. The fellow next to me turned up his nose and said Glenn Beck called Obama a racist. Brother. Honestly, I think it is largely a matter of style that keeps us all apart. And then insults make it stick. There is so much significant that is of substance, that stylistic differences should not matter now. I'll be on the Mall on 8/28. You should come, too.

  25. Lindsey Gramm a neocon? Oh, gimme a break. Graham is a PROGRESSIVE and a RINO if there ever was one. He might as well switch parties and become a Democrat. Beck skewers Gramm ever chance he gets. Again, anyone who watches Beck REGULARLY and CONSISTENTLY would know this.

  26. If anyone watched Beck on a consistent basis during the Bush administration, they would have been left out in the cold in terms of preparation. In fact, they might have even suffered such delusions as to conclude that the Bush administration was justified in its fiscal profligacy. To assert that watching Beck on a consistent basis would lead anyone to lend him the credit Dave deserves for his prescience is quite the stretch indeed.


  27. Hey "sheesh." i try to post every comment other than spam. I'm hoping folks will move on to today's post because it is important.

    Glenn Beck is what he his, definitely promotes divisiveness. Probably that last time I post a Beck vid, and the intent wasn't even about Beck but about what his content was...oh well.

  28. Sheesh - see you on the Mall on 8/28. Let's stand up for America and turn back the progressive tide. Since Dave will likely not be in attendance, I'll send him a video of the event.

  29. Thanks RTS! FoxNews was for the Bush Admin what CNBC is for Wall Street. Now Fox is trying to get momentum behind Palin - Ugh.

    And I read an article the other day that showed explicitly how Beck is raking these people over the coals who are buying gold from the service he promotes.

    Like I said, Beck for me is mind over matter: I don't mind and he doesn't matter.

    If he starts to project content that is value-added and forward-looking, I may pay attention to him. He's one of those guys who regurgitates history rather than analyzes what will unfold and how to take advantage of it. I guess to an extent it's admirable that he's filling people in on what they missed over the last 10 years, but that doesn't help any of us make money or prepare properly for the future.

  30. RTS - We're not talking about watching Beck consistently during the Bush Administration. We're talking about watching Beck consistently during the Obama Administration. Beck's FOREWARNINGS and ANALYSIS about Obama and the radical left have more than helped me prepare for what's coming.

    Dave - This whole debate about Beck has been quite enlightening. It certainly casts you in a new light for me. You throw out one disparaging comment after another about Beck but won't (or can't) back any of it up with anything other than your own biased opinion. But you'll use a Beck video to prove/make your own points. Seems just a wee bit contradictory to me.

  31. I'm not disaraging Beck. But of course he is ripping off people with his gold scheme. I'm saying watching Beck is like reading last year's newspaper. Yawn.

    I am trying to lay out what's next. You wanna know what's next? Some variation of Mad Max/The Road...is Beck telling you that?

  32. Glenn Beck's house in CT:


  33. The issue is THIS DOESN'T SURPRISE ME!!! This is nothing new under the sun. Obama specifically said he would do this. Great job stupid Americans!!! Get a job and quit whining.

  34. What kind of morons use this site anyway? Glenn Beck is on the cutting edge of being REAL. Got that, donkey busters?

  35. I think this issue should be discussed further.

  36. I don't know about this Beck guy. Do you?

  37. Look, I can't put a date to it, but I heard Beck telling his listeners to buy gold at least five years ago, and I said to my wife, this guy's talking sense. And he was the only one at the time out there on the general airwaves.