Posted on 10/08/2008 8:43:04 AM PDT by truthandlife
Just two weeks ago, a book on economic policy was released that will be a classic for the ages. Entitled The End of Prosperity, by Art Laffer, Steve Moore, and Peter J. Tanous, the book explains in full detail the economic disaster that will befall America if it takes a sharp left turn to neo-socialism under the leadership of the far left President Barack Obama, the ultraleft Speaker of the House Nancy Pelosi, Senate Majority Leader Harry Reid with 60 liberal Democrat Senators, and their pal the ultraliberal Howard Dean heading the Democrat party.
Indeed, one of the insights of the book is that a major factor already tanking the stock market and leading foreign capital to flee America is the threat of the economic policies promised by Obama. Obama proposes increases in every major federal tax, on savers, investors, employers, small business, big business, and anyone who would start a business. Obama also promises to add additional federal spending of almost $1.5 trillion over the next four years, including a new global war on poverty in which Obama would tax Americans and send the money to the UN to spend worldwide (already introduced by Obama in legislation). That would be on top of all the spending increases already scheduled for our exploding entitlements and other programs. Obama also promises a massive increase in regulatory controls, even though government regulation is already estimated to cost America over $1 trillion per year, about $8,000 in lost output for every U.S. household. Then there is Obama's attack on free trade and promises of protectionist trade policies that contributed so much to the Great Depression.
(Excerpt) Read more at spectator.org ...
I thought I’d pick it up from the library and have a read. Couldn’t find it online. Called my library to check - there is only 1 copy in IL! They are going to try to get it for me.
hehehe!
I received it as a gift from my son.
“Ouch!!! How much of the market drop is due to calculations that Obama may win?”
I think a lot of the market drop is related to fear of an 0bama win. It seems every time the polls are up for 0bama, the stock market goes down.
Focusing on Him no matter how light or dark the days will have His light to shine from us. Nothing draws His people closer to Him than difficult days. His light will shine more noticeable the darker it is. Prayefully, that will lead some out of the darkness.
How are you preparing?
After watching last night’s debate all I can say is that we are SO SCREWED! So very, very screwed...
My only quandry now is whether to invest in bullion or bullets. Probably both.
Yes, God is in control,
and if enough of us don’t beg for Mercy on our country for turning its back on Him,
He will Judge our country with dark times under cruel and oppressive rulers.
It’s been done before.
Actually, though a very popular sentiment, this isn't biblical in the least.
Call on Him for help, and do not rely on your own understanding, because it is flawed.
Yes. Exactly what I(we) are saying.
Psalm 34:17 is only one of the places stating this preference:
The righteous cry out, and the LORD hears,
And delivers them out of all their troubles.
We are to humble ourselves and recognize that all are efforts are in vain without His help.
I do hope your correct but I think most people on FR think that nothing is sticking to the Dems right now.
We will see.
Thanks...appreciate you helping me out. I am sending it around because it puts a few chuckles out there.
Thanks so much...appreciate your help.
Thanks so much...appreciate your help.
Got it..thanks.
Appreciate your help. It really is funny.
At the Palin rally in Greenville, NC last night Senator Dole spoke and told the crowd that in order to achieve the 60 member Senate needed to stop all filibusters and ensure that Dems can pass anything they want, Chuck Shumer of NY is pumping 10 million a month into the campaign of Kay Hagan to defeat Dole! 10 million a month—where does that come from?? There are 24 Republicans up for reelection and only 12 Democrats. I wonder if they are pumping that much in all the campaigns against Republicans or just in NC.
Dole is particularly and enemy because it was the Hagel, Sensennbrenner, Dole bill that McCain supported to reform FannieMae which proves Republicans tried to stop the crisis early on.
I have heard this called a Silent Depression.
A few other thoughts.
This occurred at a time when human capital in the US was as rich as it had ever been. The boomers had entered the work force, and were probably the best educated as far as K-12 grade as a result of the Sputnik challenge. Education had not been dumbed down for the average student as it has been today. Women were entering the workforce with their talents in large numbers. We did not have a large underclass of non-English-speaking immigrants who had not graduated from high school as we do today. But Carter did not lead. It was left to Reagan, using that human capital and sensible econmic policies, to ignite the prosperity up to the present.
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