Demons & Dialog

Exposing hidden news, history, & the new world order

Truth: A Rant from Hell

leave a comment »


By Thomas Sowell, columnist Creators Syndicate, January 27, 2009

Everyone is talking about how much money the government is spending,
but very little attention is being paid to where they are spending it or
what they are buying with it.
The government is putting money into banks, even when the banks don’t
want it, in hopes that the banks will put it into circulation. But the
latest statistics shows that banks are lending even less money now than
they were before the government dumped all that cash on them.
Even if it had worked, putting cash into banks, in hopes that they
would put it into circulation, seems a rather roundabout way of doing
things, especially when the staggering sums of money involved are being
justified as an “emergency” measure.
Spending money for infrastructure is another time-consuming way of
dealing with what is called an immediate crisis. Infrastructure takes
forever to plan, debate, and go through all sorts of hearings and
adjudications, before getting approval to build from all the regulatory
agencies involved.
Out of $355 billion newly appropriated, the Congressional Budget
Office estimates that only $26 billion will be spent this fiscal year and
only $110 billion by the end of 2010.
Using long, drawn-out processes to put money into circulation to meet
an emergency is like mailing a letter to the fire department to tell them
that your house is on fire.
If you cut taxes tomorrow, people would have more money in their next
paycheck, and it would probably be spent by the time they got that
paycheck, through increased credit card purchases beforehand.
If all this sound and fury in Washington was about getting an
economic crisis behind us, tax cuts could do that a lot faster.
None of this is rocket science. And Washington politicians are not
all crazy, even if sometimes it looks that way. Often, what they say
makes no sense because what they claim to be doing is not what they are
actually doing.
No matter how many times President Barack Obama tells us that these
“extraordinary times” call for “swift action,” the kind of economic
policies he is promoting take effect very slowly, no matter how quickly
the legislation is rushed through Congress. It is the old Army game of
hurry up and wait.
If the Beltway politicians aren’t really trying to solve this crisis
as quickly as they could, what are they trying to do?
One important clue may be a recent statement by President Obama’s
chief of staff, Rahm Emmanuel, that “A crisis is a terrible thing to
This is the kind of cynical revelation that sometimes slips out,
despite all the political pieties and spin. Crises have long been seen
as great opportunities to expand the federal government’s power while the
people are too scared to object and before any opposition can get
That is why there is such haste to do things that will take effect
What are the Beltway politicians buying with all the hundreds of
billions of dollars they are spending? They are buying what politicians
are most interested in — power.
In the name of protecting the taxpayers’ investment, they are buying
the power to tell General Motors how to make cars, banks how to bank and,
before it is all over with, all sorts of other people how to do the work
they specialize in, and for which members of Congress have no competence,
much less expertise.
This administration and Congress are now in a position to do what
Franklin D. Roosevelt did during the Great Depression of the 1930s — use
a crisis of the times to create new institutions that will last for
To this day, we are still subsidizing millionaires in agriculture
because farmers were having a tough time in the 1930s. We have the
Federal National Mortgage Association (“Fannie Mae”) taking reckless
chances in the housing market that have blown up in our faces today,
because FDR decided to create a new federal housing agency in 1938.
Who knows what bright ideas this administration will turn into
permanent institutions for our children and grandchildren to try to cope


Written by Michael Cooper

February 1, 2009 at 2:40 am

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: