One Step Closer

Thanks for posting this great article by Dr. Walter Williams.

He has a way of presenting an idea with a manner that always catches my attention. This article of his is no exception.

Thanks again!

I love this analogy from Dr. Williams: “...our destruction by our own fart-backed currency are (is) more real and are (is) getting us step by step closer to hyper-inflation, and a systematic world wide economic collapse that we will never recover from.” Fart backed indeed!

Imagine what the forum would look like if every FReeper that has a blog posted it here.

Thanks for posting this great article by Dr. Walter Williams.

This "great article" isn't by Dr. Williams. The quote in the first paragraph is by Dr. Williams. The rest is a commercial for precious metals.

I missed that pungent definition! Thanks!

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Here some of my two cents worth opinions as an American concerned about the financial future of my Grandchildren’s great, great, Grandchildren.

To be fair, B. Hussein Obama, the junior Senator from Illinois, could not have become Arrogant, Incompetent, Tyrant B. Hussein Obama with abundant help from our sorry Congressional RINO “Leaders,” and a gullible Media.

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What the politicians call “entitlements” are actually Welfare TAXES on those still paying taxes.

Social Security Welfare Tax, Medicare Welfare Tax, Medicaid Welfare Tax, and Obama’care’ Welfare Tax account for the majority of the Welfare Taxes paid by people who are TAXED ENOUGH ALREADY.

When the T.E.A. people finally stop thinking “entitlements” and start thinking “Welfare Tax Burden” they will finally realize that an entitlement is really an increase in their tax burden.

Here is a test of the true resolve of Americans who want to reduce BASELINE, year to year, Federal spending: Will a majority of Americans welcome a 5 % cut in redistribution check totals for Social Security payments to them, and any other Welfare Redistribution check that they can cash?

The larger question is: “Will they rebel as they did in 2010?”

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In the meantime, our sorry US Congressional RINOs continue to say “We can’t cut spending to achieve prosperity.”

Yup, WE cut spending to achieve OUR prosperity, but somehow you RINOs can’t cut spending OUR taxpayer dollars and thus achieve prosperity for the entire United States of America?

Are you RINOs on the side of the Counterculture of Debt and Doom, otherwise known as OBAMANATION, or with us who balance our checkbooks every day!?

Listen up, you Congressional RINOs, we ALL out here in ‘Flyover Country’ are from Missouri, ‘The Show ME State!’

“WHEN YOUR OUTGO EXCEEDS YOUR INCOME, YOUR UPKEEP WILL BE YOUR DOWNFALL.” (Paul Harvey).

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The primary “Smoke and Mirrors” (SAM) used by all Federal politicians and bureaucrats is to avoid using year to year actual spending to define a spending increase or decrease.

They use a reduction in the rate of estimated INCREASE in year to year spending as a definition for either an “investment” or a “cut,” respectively.

Why Investor’s Business Daily, and other Financial News Firms do not correct this SAM thought error in their printed and spoken word raises the question of collusion, perpetuation of an obvious fraud, or both.

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The second SAM is the time frame used in the spending or “burn” rate of taxpayer dollars.

Federal politicians and bureaucrats all use the Commie Ten Year Plan time frame when reporting the total dollars increased or decreased for their various spending plans.

This 10 year time period is used primarily because the estimated changes on a yearly basis are very small, and multiplying by 10 tricks the gullible financial media into believing that the estimated changes will be large.

For example, at the present Federal burn rate of 10 billion dollars a day, the total burn rate per year is 365.25 days per year X 10 billion dollars per day = 3,652.5 billion, (=3.6525 Trillion), dollars spent or “burned” per year.

Using the Commie 10 Year Plan method of reporting that comes to 3,625.5 billion dollars burned per year X 10 years = 36,255 billion dollars burned in 10 years or, 36.255 Trillion dollars burned.

Working backwards, a reduction in total spending of 1,000 billion, (= 1 Trillion), dollars over the entire 10 year time period would be 1,000 billion dollars not burned per 10 years divided by 10 years = 100 billion dollars not burned per year.

100 billion dollars not burned per year divided by 365.25 days per year = 0.273785+ billion, (=273,785 + million) dollars not burned per day for every 1 Trillion dollars not burned over 10 years.

IF the present Federal burn rate were to be held constant at 10 billion taxpayer dollars a day for ten years, AND 1 Trillion dollars were to be not burned over 10 years, THEN that would amount to a true reduction in the total burn rate of 0.027385+ %, far less than the rate of increase in the inflation of a modest 2 %, as decreed by the Federal Reserve.

The reality is that the US Federal Burn rate of taxpayer dollars has increased every year on a year to year basis from LBJ’s addition of the Welfare Tax Burden of Medicare to the present.

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The third Smoke and Mirrors is that all spending plans, including the Ryan “Budget,” have NO decrease in the total, year to year Federal dollars spent per year.

Hence, when summing up these three Smoke and Mirrors used by “both “ political parties, the total National Debt will continue to increase, the credit rating of the US Federal Government will continue to be downgraded, and default by the US Federal Government is guaranteed.

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In summary, all would not return to normal if Obama were Impeached and removed from Office this year for being a Coward during the Benghazi Massacre.

What we have here is a Welfare System that we have repeatedly voted to continue.

We chose this Counterculture of Debt and Doom, from FDR to Obama.

It is a sad testimonial to hear our Congressional “Leaders” still saying that they really do want to work with Obama, the man who has said that he wants to “FUNDAMENTALLY CHANGE AMERICA.”

As long as The Federal Eagle keeps flying over our mailboxes, Obama’s popularity will stay above that magic 40 %, the same % that do not pay ANY personal Federal Income taxes.

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It is all about the money, OUR money!

Thanks for the correction! I read only the following:
“ - - - Thursday, April 11, 2013
One Step Closer...
“Conservatives and liberals are kindred spirits as far as government spending is concerned. ... Since government has no resources of its own, and since there’s no Tooth Fairy handing Congress the funds for the programs it enacts, we are forced to recognize that government spending is no less than the confiscation of one person’s property to give it to another to whom it does not belong — in effect, legalized theft.”
Walter E. Williams, Professor of Economics, George Mason University - - - “, and ASSUMED that the dateline was for the entire article.

I will try to not make this same mistake again.

My comments on the part of the article written by Dr. Williams stand.

The pattern so few ever comprehend, used by the banking oligarchs for centuries now, is to inflate debt until only war and pestilence can restart the system. We are at the reset stage. The war and pestilence are very near.

Thanks for posting this great article by Dr. Walter Williams.

Actually it looks like a winky-wanky blog post.

Try to pay attention.

I agree with you. That’s a fantastic (as usual) quote from Dr. Williams.

Too bad the rest of the article is a commercial.