September 2008

Ron Paul

Jeffery A. Miron

Anti-Bailout Petition


To watch cable news, one would think that the economic sky is falling. Chicken Little himself, Ali Velshi of CNN, almost suffered spontaneous combustion yesterday as he practically yelled at the camera, “YOU’RE GOING TO LOSE YOUR JOB! I’m not saying it’s Armageddon, but…”

The thing that upsets me even more than the armchair economists that have come out of the woodwork is the fact that we have actually come to a place in the US in which our government has the power to, with one vote, cause the stock market to tumble 777 points. Because Czar Paulson decided to float the idea of a $700 billion free-for-all, with the full support of the President, we all lost yesterday. Word is, $700 billion isn’t even a figure based on fact; rather, the treasury department just needed a “really big number” to give confidence to the market. Say what?

We should not be in a position where our government – and their reelection campaigns – can cause a stock market tumble and “credit crunch.” As our leaders point fingers, I’m left thinking, “Look, this shouldn’t be any of your fault!”

The fact is that not all economists think the sky is falling. Even if it is, I’m still not convinced that our government needs to start building support columns to keep the sky in place.

What I am certain of is that the news media needs to give it a rest and leave the scare tactics to Washington. For the record, despite yesterday being the single largest point drop in history, it doesn’t even rank in the top ten for percentage drops. Maybe someone should tell the media…

Should we support a government bailout?

I don’t have an easy answer.

The big, fat chicken in me wants to say, “YES! FIX IT!!!” This is because I fear what will happen to the economy in the short-run if we allow the financial sector to fail, and fail hard.

The reasonable gal, however, knows that a multi-hundred billion dollar bailout is only a band aid and, even with government intervention now, we will be traveling back down this road all too soon.

Deep down I know that government is the problem. I have very little faith in government to be able to fix what ails America’s economic system. I fear, however, what will happen if bank after bank fails, credit becomes too tight (what is too tight, anyway?), and people start losing jobs.

Then again, who knows if all this would really happen absent a government bailout? We’re merely taking the words of a couple of politicians/economists who clearly support a big-government bandage.

I suppose we could look at America’s economic system like a wayward child. The parents have turned a blind eye to bad behavior and Jr. is now up to his eyeballs in debt. Do mom and dad bail him out yet again, pay off his debts, and cross their fingers that he won’t get in trouble again? Or should Jr’s parents sit back and say, “We screwed up by not teaching you properly and allowed you to get yourself into this mess, now you need get yourself out”?

Dave Ramsey always says that getting out of debt won’t solve your money problems unless you change your behavior. Maybe, just maybe, with this government bailout AND a change in economic behavior, there is hope for America yet. I have little hope, however, that with further government intervention the movers and shakers in Washington and on Wall Street will change their behaviors.

Oh, how I long for a President Ron Paul

Not the Libertarians!

Blue Collar Muse

Just an update from the Oliver household…

I am still paying attention to all things political, due mostly to the fact that I spend roughly 9 hours a day nursing in front of the TV. When we’re not watching Sesame Street (to keep the older Oliver occupied…), we’re watching the news.

Just a few observations:

1. Lipstick on a pig? Did the media seriously spend several days discussing such a comment? For the record, I do not think that Obama was calling Sarah Palin a pig, nor do I think that Palin has exclusive rights to the word “lipstick.” Further, someone needs to instruct reporters how the town of “Lebanon” is pronounced here in the United States, i.e., it is not pronounced in the same was as it is in the Middle East. And people who live in towns called “Lebanon” generally don’t take kindly to said mispronunciation.

2. Men and women are different. I know this is a shock to many in our culture, but it has been shown over thousands of years to be true. This means that, when a woman runs for the office of Vice President, it is completely within the realm of possibility that people are going to treat her differently than they would a man. This is acceptable to an extent. Unless reporters start referring to her as “the little woman” and telling her that she just doesn’t have the brain function to run the country, due to the fact that she is female, feminists need to chill out and stop whining about sexism. I’m pretty sure Sarah Palin knows she’s a woman and, thus, different from a man.

3. Fabulous video on YouTube: Voddie Baucham on CNN

4. Finally, Sarah Palin has been, I think falsely, accused of not knowing what the “Bush Doctrine” is in her interview with Charlie Gibson this week. Although I am still not supporting John McCain and am still skeptical of Sarah Palin, I think, in fairness, that I must point out that Palin is most likely not the idiot pundits are making her out to be. My guess is that Palin did not want to answer the “Do you agree with the Bush Doctrine” question with a hard and fast response due to the simple fact that, although she may agree with it in whole or in part, does not want to be associated with Bush policy. How easy it would be for her opponents to take whatever answer she provided and turn it against her. I assume that Palin was making sure Gibson wasn’t trying to trap her into locking in with Bush’s policies. Funny, Obama dances around issues in just such a fashion on a daily basis and the media doesn’t call him uninformed…

The newest Oliver was born on Saturday, August 30! He weighed in at a tiny 5lbs, 15oz and a mere 19 inches long – a far cry from my first little linebacker.

Thanks, I’m certain, to all the prayers on his behalf, his ultrasound showed two healthy kidneys! Even the pediatrician that saw our little guy in the hospital said there was no physiological reason that the hydronephrosis would be there three days earlier and then disappear right after birth. She said that, other than a miracle, she had no explanation.

So far all is well. Baby Oliver #2 is healthy, growing and already enjoying politics during his late-night feedings, as mommy always turns the TV to CSPAN in the middle of the night.

Once we get ourselves on some sort of a schedule and I feel like I’ve slept – which could be a while! – I’m sure I’ll catch up on my blogging, but, until then, your prayers are always appreciated (or thoughts, for those of you who don’t belive in such things…) and thank you for your support thus far!