Category Archives: Free enterprise

The truth about Quantitative Easing . . .

From the Wall Street Journal:

“There’s a real question as to whether the massive bond-buying program known as quantitative easing was worth the cost, former Federal Reserve official Andrew Huszar said Tuesday. Huszar, a senior fellow at Rutgers Business School and a former managing director at Morgan Stanley, noted a few of the program’s unintended effects.

 Huszar apologized for his role in QE in a Wall Street Journal op-ed published Monday.
‘I can only say: I’m sorry, America,” he wrote. “The central bank continues to spin QE as a tool for helping Main Street. But I’ve come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.’”
From centernewsnetwork.com:
It was also a back door bailout of the Blue State political machine. Quantitative Easing was intended to bail out the insolvent Blue State public pension funds which require high rates of return from Wall Street in order to pay otherwise unsustainable benefits to public union pensioners and Democrat politicians. The stock market as it now exists has absolutely nothing to do with the “real” economy of goods, services and most importantly, jobs and income.”

 

Cruzaders2014.com . . . Change Congress

Change Congress! Do your Part. 

Don’t believe the charge made by establishment Republicans that the efforts of Ted Cruz and the Tea Party to delay or defund Obamacare prevented the mainstream media from reporting the failures of Obamacare.

Sen. Cruz put the focus on the utter devastation already being inflicted on the American economy and health care system.

In the coming months it will be abundantly clear to voters that Senator Cruz was correct in trying to mitigate the destruction unleashed by Obamacare.

The establishment Republicans and their political consultants, content with feeding off crumbs from the Democrat table, will reap the political whirlwind with their Democrat “friends.”

The Entitlement-Voter: What Obamacare is really about . . .

   The theme common to Democrat legislative, executive, judicial and electoral policies is to draw as many people as possible into local, state and federal government entitlement and benefit programs. But not only that. Obamacare, and other such programs, are especially important in order to accomplish registration of every single potential Democrat voter (“entitlement-voters”) with the government.
   The danger is not that Democrats are compiling government-funded databases of people who don’t want to be on a government database, it’s that they are using taxpayer funds to compile databases of entitlement-voters to expand and solidify Democrat political power.
   What will follow entitlement-voter registration will be required notification to those on government databases to register to vote and to show up at the polls to vote. Democrats tell us, after all, that we want everyone eligible to vote to exercise this critical right. This is happening already.
   The next step is to provide for online voting, over an extended period of time each voting cycle, so that not one vote is missed. Voting will become a year-round process. Because, we are told,  it is important that everyone actually vote. Of course, entitlement-voter databases such as the one created for Obamacare will be used to contact voters and to insure that they do vote.
   And will they vote for a candidate who suggests small or no increases in benefits or for a candidate who favors large increases in benefits to even out inequality and promote fairness? Entitlement-voters’ benefits will depend on the answer.

Wall Street: Crony Capitalists know nothing more than how to access inside information . . .

A Center reporter recently spent some time with a friend from high school who had gone to Columbia University and from there to Wall Street and, ultimately, to management of a hedge fund. The hedge fund manager had retired “early” as a multi-millionaire “master of the universe.”

Strangely, after a couple of days of somewhat intense political/business discussions, it was apparent to our reporter that his Wall Street friend had no more idea as to what stock or company would do well than the reporter or anyone else. What our “master of the universe” did know, however, was the phone numbers of his Ivy League friends and classmates who were high officers in government and business and who had access to inside information the rest of us lack.

And so we see a hedge fund financial wizard who engineered billions in profits from the issuance of collateralized debt obligations (CDO’s) testify in federal court that he is “not sure” what the industry-wide acronym CDO stands for.

 And we see one of Wall Street’s most prominent hedge funds hire a provably corrupt “Ivy League” trader whose primary qualification is his past membership in an “insider trading group” at his previous firm.

 And, finally, we see the indictment of that prominent hedge fund, SAC Capital Advisors, on federal charges involving insider trading that was “substantial, pervasive and on a scale without known precedent in hedge fund history.”

 And the Fed continues to pump $85 billion a month into this sewer.

Gun Manufacturer says Cuomo’s New York is not SAFE for business . . .

centernewsnetwork.com:

Gov. Cuomo’s middle of the night raid on New Yorkers’ constitutional right to keep and bear arms has claimed another victim. Cuomo’s so-called “SAFE Act” poses onerous restrictions on the manufacture, sale and possession of previously legal firearms and was passed on a phony “emergency” basis without public notice or debate. Though significant portions of the ill-advised and sloppily drafted legislation will eventually be struck down in court, it’s effects will be, in many cases, permanent. Lost jobs is one such case. Pennsylvania can add these manufacturing jobs to the the thousands lost by New York due to Cuomo’s fear of the anti-cracking protesters.

Gun manufacturer will move its headquarters, and expand, outside of New York, due to uncertainty created by Cuomo’s SAFE Act.:

Business has been good for Rockland County-based Kahr Arms, so much so that it plans to expand with a new factory on more than 600 acres.

The trouble, at least for New York state: The gun manufacturer, currently based in Rockland County, is expanding across the border in Pennsylvania, and in the process will be moving its headquarters out of the Empire State. The reason, according to a corporate official, can be found in the swift passage last January of Gov. Andrew Cuomo’s SAFE gun control law.

It wasn’t so much that the measure bans certain kinds of guns and magazines, the company said. Instead, it was the suddenness with which the law was passed — less than 24 hours after being released to the public — leaving Kahr’s executives to wonder what kind of unforeseen regulations or restrictions might lie ahead.

“One of our big concerns was, OK, the SAFE Act was passed in the middle of the night. You wake up the next morning and boom, that was it,” said Frank Harris, Kahr’s vice president of sales and marketing. “We just felt like, gee, if they can do this, what can they do next?

 

Democrats addition by division . . .

Why are Democrat policies nearly always focused on this or that group rather than the country at large?

It’s really very simple. Legislation and tax policies which provide benefits to all citizens yield fewer votes, political contributions and favors to Democrats than “targeted” proposals. The Democrat guiding principle is to divide us into groups, and then to threaten punishment to certain groups while offering rewards to others.

Despite the Democrats incessant bleating about “fairness,” unequal treatment of both groups and individuals is essential to Democrat electoral success. Graft, envy and anger are the keys to Democrat hope and change.

The sad truth is that Democrats need and promote racial and social division. Without homophobia, sexism and racism all you have left is personal responsibility. Democrats can’t “fix” that with your tax dollars and votes.

The New York Times left-wing New Jersey cousin, the Newark Star-Ledger, bankrupted by unions it ceaselessly promotes . . .

centernewsnetwork.com:

New Jersey’s very own version of the New York Times, the Newark Star-Ledger, will stop the presses permanently at year’s end unless it wins major concessions from its production unions. The newspaper, according to publisher Richard Vezza, feels “pushed into a corner” by the unions.

The Star-Ledger’s lament is made without a trace of irony despite its relentless vilification of other businesses threatened and destroyed by union tactics.

The unions reacted predictably:

“Vezza’s announcement that he will cease publication unless a settlement is reached with all the unions is another sad and pathetic attempt to pound all of our union brothers and sisters into a state of submission,” said Ed Shown, president of the Council of Star-Ledger Unions and one of the Teamsters locals.

 Perhaps the Star-Ledger can again follow the lead of its mentor, the New York Times, and crawl, hat in hand, to Mexican billionaire Carlos Slim.

 

 

 

 

 

 

Governor Cuomo rolls the dice on even more graft and corruption for NY Democrats . . .

centernewsnetwork.com:

New York Governor Cuomo’s casino gambling gambit will allow for four casinos in New York State and their locations will be chosen by “Cuomo and legislative leaders.”

And guess what? Cuomo and the legislature will be free to accept contributions from potential casino operators despite a prior Cuomo promise to ban such gifts.

If casino gambling is beneficial to communities then why not apply such policies state-wide? It’s really very simple. Legislation and tax policies which provide benefits to all citizens yield fewer votes, political contributions and favors to Democrats than “targeted” proposals. The Democrat guiding principle is to divide us into groups, and then to threaten punishment to certain groups while offering rewards to others.

Despite the Democrats incessant bleating about “fairness,” unequal treatment of both groups and individuals is essential to Democrat electoral success. Graft, envy and anger are the keys to Democrat hope and change.

Uh oh, even the “natives” are restless in Brazil . . .

centernewsnetwork.com:

The Brazilians are upset about bus fares, the cost of the World Cup and taxes, among other things, in their once happy socialist paradise. Does promising to satisfy every whim in exchange for votes lead to ever stranger whims? Guardian.co.uk reports:

“Brazil’s president, Dilma Rousseff, and key ministers are to hold an emergency meeting on Friday following a night of protests that saw Rio de Janeiro and dozens of other cities echo with percussion grenades and swirl with teargas as riot police scattered the biggest demonstrations in more than two decades . . .

A vast crowd – estimated by the authorities at 300,000 and more than a million by participants – filled Rio’s streets, one of a wave of huge nationwide marches against corruption, police brutality, poor public services and excessive spending on the World Cup.

Clashes were reported in the Amazon jungle city of Belem.”

The Ben Bernanke Administration reaches its high point; for Obama, not so much . . .

centernewsnetwork.com:

Gallup reports that US investor optimism is at its highest point since Obama took office. This is, of course, attributable to $85 billion dollars being printed each month by Ben Bernanke and the Fed and used to purchase US Treasury Bonds, thus inflating the equity bubble. Bernanke has signaled that the party may be over, however. Markets have reacted accordingly.

On the other hand, Americans, and the world, are not feeling the love for Obamanomics (don’t hear the media use that term much anymore).

Can’t Bernanke replace Obama, rather than vice-versa? Guess not. Rough times ahead …