Doc Thought

If you are a producer in America, a person who spends his thought and effort to provide a good or service to others in fair trade, then you are a slave. You are a slave and either suffer under the whip or ignorantly whip yourself depending on whether you vote for or against the liberals, or, as they should be called, the anti-capitalists or feudalists . Realize that, as the non-producer - entitlement class has grown, they have grown to enslave the producers of this nation. The lawmakers elected by this group strengthen their hold on aristocracy by promising to take more and more from the producers and give to those who consume only, to those who either entirely parasitize the producers or exist in a job by pull or union pressure, and not by merit or efficiency. Or worse, they give to the very countries who hate America, ironically for the very ideals that the liberals are killing - most prominently, the concept that the rights of the individual supersede what some group 'sa...

A letter to the editor, from my Father. It is generally agreed that Franklin Roosevelt’s "New Deal" did not end the "Great Depression". While massive deficit spending failed, the beginnings of democrat-sponsored socialism emerged. During that decade, the perceptions by Fascist as well as Communist socialists that democratic capitalism was on its last legs emboldened both. The Fascists tried first to exploit this perceived weakness when Japan’s attack on Pearl Harbor was immediately followed by Germany’s own declaration of war on the United States. Thus galvanized by war, the citizens of the United States succeeded in marshaling the latent power of democratic capitalism under God that not only crushed the thousand year reign fascist powers envisioned but ended the ‘Great Depression" as well. Even Joseph Stalin credited American manufacturing with determining the outcome of the war. Unfortunately, he couldn’t bring himself to acknowledge that the Source of Ame...

The late Dr. Adrian Rogers (1931 to 2005) offered the following observation several years ago and it bears poignant significance today: "You cannot legislate the poor into freedom by legislating the rich out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply the wealth by dividing it."

Fascism anyone? It's what you have when the government takes meaningful control of key industries while allowing the semblance of private ownership. The countless governmental strings that will be attached to this administration's "bailout" of three poorly run car companies just adds to the growing list of industries coming more and more under government control. And now, it isn't just that most companies that "succeed" in the marketplace do so via the destruction of free competition through lobbied legislative and regulatory favors. While that state of affairs has grown and grown with its complicated mesh of pull and favors and owed 'cover' and protections and inside information, it does not begin to approach the injury to the (cough) "free" market that will be caused by the explicit tax supported government involvement in the auto industry. On the backs of the American worker, the beaurocrat will now be in a position to decide j...

The next time you hear someone denounce the 'greed' of the extreme *free* market, of capitalism, try to remember that this is NOT what we have. The US economy was close but not entirely free during the early parts of the industrial revolution. Now, even the term 'mixed' economy is starting to be strained by the overwhelming pervasiveness of the American government in regulating, pressuring, tweaking, pulling, and adjusting all aspects of the economy. At times you will hear a leader of a big business disparage laissez faire capitalism or the free market. Do not be misled into thinking that, well, if a big business man thinks the free economy is unfair or ill suited to producing a just, profitable economy for all, then surely we are justified in fiddling with it. Without exception, this will be a businessman whose interests and competitive advantage depends on PULL in Washington. The very presence of the innumerable Congressional lobbyists and the billions pou...

Though Alexis de Tocqueville’s analysis of democracy in America in the 1800’s included a variety of misunderstandings, some of his insights deserve revisiting, for they were sadly prophetic of how a government founded on individual liberty could be poisoned and destroyed from within. Democracy and socialism have nothing in common but one word, equality. But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude. The man who asks of freedom anything other than itself is born to be a slave. The American Republic will endure, until politicians realize they can bribe the people with their own money. After having thus successively taken each member of the community in its powerful grasp and fashioned him at will [via a compulsory collectivist, revisionist education], the government then extends its arm over the whole community. It covers the surface of society with a network of small, complicated rules, minute and uniform...

There is a real danger in reading this post. Your eyes will likely cross, gloss over, and a bit of spittle will possibly begin to trickle from the corner of your mouth. In my attempt to understand the causes of the recent financial crisis, I, by necessity, undertook what has turned out to be self torture - the attempt to understand the mechanisms and definitions of the "shadow banking system." Mortgage backed securities are the most well known component of this shadow system. The least painful exposition of some of these instruments has been provided by Mr. Holloway. Read his article "Is this complicated, or What?," by scrolling to the last article on the page.