Earlier today Judge Andrew Napolitano was the guest host on the Glenn Beck show. Four liberty-loving guests appeared on the show with the Judge. Peter Schiff, John Stossel, Ron Paul, and Rand Paul all appeared. When the Judge hosts Beck’s show it almost turns into an episode of Freedom Watch.
If you don’t know what Freedom Watch is then please check out http://freedomwatchonfox.com/. It’s an online only show hosted by the Judge catering to freedom-loving people everywhere.
Check out the excellent discussions from the show today below.
Two dissatisfied customers comment about a restaurant. One says, “The food here is terrible.” The other replies, “I know, and such small portions!” In many ways, they could be describing our current employment picture. Not only are the portions shrinking, but the jobs themselves are steadily losing quality.
Today’s release of the October jobs report showed the loss of another 190,000 jobs had pushed the official unemployment rate to 10.2%, only the second time since the Great Depression that unemployment was quoted in double digits (factoring in workers who had given up job hunting altogether or have settled for part-time work would push that rate to 17.5%). That didn’t stop Wall Street pundits from trying to fashion a silk purse of this sow’s ear. The ‘green shoots’ crowd focused on the slowing pace of job losses, the nascent economic ‘recovery’ (even if it is jobless), and the projected improvement in 2010. No mention was even made of the quality of what few jobs were being created.
The analysts completely ignored the continued trend of replacing goods-producing jobs with those jobs that require production from other sources. For example, we lost 61,000 manufacturing jobs last month, but added 45,000 jobs in education and health services. In particular, the addition of health workers is nothing to celebrate. Just as a family’s economic position is not improved by higher medical bills, the country as a whole does not benefit from increased health-care spending. Until this trend reverses, our unbalanced economy will not regain its stability, a real recovery will never take hold, and the overall job outlook will get much bleaker.
Ron Paul appeared on MSNBC this morning to discuss the latest developments on his Federal Reserve Audit bill, which now has 310 cosponsors in the House and 30 in the Senate.
Supporters of healthcare reform claim it’s about accessible and low-cost health coverage for Americans. If that were true, they’d reject Nancy Pelosi’s bill, HR 3962. Usually, critics write about the economic reasons. But there’s another huge problem . . .
The bill is an unprecedented attack on personal liberty.
HR 3962 will hamstring our finances. But it’s also full of blatant attacks on individual liberty.
For instance, chain restaurants and vending machine owners will be forced to publish calorie information on their menus. That’s not interstate commerce… unless the state line cuts through a McDonald’s counter. Congress can’t order private property owners around this way, and the Free Press clause of the First Amendment also clearly forbids this mandate. Calorie reports may be nice, but that’s outside of the government’s lawful scope.
HR 3962 also violates the broad 9th Amendment protection of individual liberty, and the 10th Amendment’s requirement that federal power be limited to only those functions listed in the Constitution.
Even though the Supreme Court has blown a gaping hole through many Constitutional protections of economic freedom — and blamed their lawlessness on the Commerce Clause power to regulate interstate commerce — it’s apparent that even this wide hole is too small for Congressional ambitions. Does anyone on Capitol Hill even know what interstate commerce is?
Ron Paul appeared on Fox Business News tonight with David Asman on the “Nightly Scoreboard”. They discussed several topics in a nearly 10 minute segment. As usual, Ron Paul just delivers the truth.
by John Browne – Senior Market Strategist, Euro Pacific Capital
Last week, to the delight of its media cheerleaders, the government announced that economic growth had returned and the recession had ended. But before we start celebrating one quarter of modest growth, we should realize the only force driving this apparent recovery is an enormous increase in government spending. To finance its largesse, the government is now borrowing at a rate that has ordinary citizens and the international community extremely concerned.
Leading into the first election season under Obama’s reign, this unprecedented government borrowing and spending is creating a false sense of security. The activity has allowed GDP to increase despite stagnation in corporate and consumer spending.
Small businesses – the most important creators of new jobs – are nervous. Due to uncertain economic conditions and a high degree of regulatory uncertainty, they are hoarding cash rather than investing. Indeed, their largest expenditures are often solely to replenish inventories.
Likewise, consumers are rationally hording their resources. Year over year, consumer spending – which constitutes 70 percent of GDP – is essentially flat. With such a large segment of the economy quiescent, the percentage increase in public sector spending has to be very large in order to push the GDP upward.
The new government spending spree has focused on major stimulus initiatives, including the new homebuyer tax credit and ‘cash for clunkers’.
In defense of Rep. Watt, however, it’s not totally his fault. His district is the most obviously gerrymandered in North Carolina, following I-85 like a snake from Charlotte to Winston Salem. It is overwhelmingly Democratic, and his re-election has never been seriously challenged. Why should he represent the people when he is electorally invincible?
While we may not be able to hold Rep. Watt accountable, we can fight back. His attempt to eviscerate HR 1207 must be approved by the full Financial Services committee.
We can block that approval, and restore the original bill. It is especially important that each member of the Financial Services committee hear from their constituents the clear message that Rep. Watt’s proposed changes are unacceptable. And you must act now because . . .
Ron Paul questioned Treasury Secretary Timothy Geithner today on Capitol Hill. Both men seemed to be talking past each other a bit. Geithner reminds me of a friend who never gives you a concrete answer; thus, he is perfect for his position as tax collector. I cannot resist asking the question… what is going on with his hair? Did it always look like that or is it just due to poor video quality?
“How did I go bankrupt? Two ways. Slowly, and then all of a sudden.” — paraphrased from “The Sun Also Rises” by Ernest Hemingway
“May you live in interesting times.” — a proverbial Chinese curse
President Bush and the Republican Congress expanded government more than any administration in history. They also laid the basic foundations for a future police state. Now, President Obama and the Democratic Congress have . . .
Retained, and in some cases expanded, all the Bush-era policies — the wars, the PATRIOT Act, warrantless spying, REAL ID, imprisonment without due process, extraordinary rendition, etc.
Begun to extend the already existing foundations for a future socialist state with things like direct government ownership of businesses, the health care bill, cap and trade, and a host of other measures big and small
Put the Bush and Obama policies together, sprinkle in a couple more terrorist attacks, and one or two more state-caused financial calamities, and you have a recipe for . . .
The destruction of American liberty
The blossoming of a Leviathan State
Read the signs . . .
We are living through a Statist revolution.
Statism is a mindset that prefers coercion to cooperation. Statists love the State because they are blind to its fundamental nature . . .
The State is a monopoly that you cannot easily fire, replace, or even control
by John Browne – Senior Market Strategist, Euro Pacific Capital
Over the past two years, the federal government and the Federal Reserve have dispersed trillions of public dollars, run up enormous deficits, and kept interest rates at zero. In just about any economic textbook, this combination of policies would be described as the perfect recipe for inflation. Yet, with the exception of the usual increases in health care and education, prices by and large are not rising. Many have concluded that our economic leadership has simply outsmarted the textbooks.
The benign CPI figures are serving as a rallying point behind which the financial talking-heads are forming a parade of optimism. The low CPI is their ‘proof’ that inflation is not a pressing concern. This view is two dimensional.
Inflation is classically described simply as an increase in the money supply. Although these changes will impact price levels, it doesn’t necessarily follow that prices will rise when inflation is high. Instead, inflation may merely result in stable prices at a time when prices would otherwise be falling.
In the popular mentality, however, inflation is simply defined as prices rising. After decades of steadily rising prices, people seem to have forgotten that prices sometimes fall. In light of the bursting of a number of record-breaking, government-fueled asset bubbles, prices should be declining across the board (as they did in the Great Depression). The fact that prices are stable, or have even rallied in some sectors, indicates that inflation is already spreading across the economy.
Liberty Maven
by Peter Schiff, president of Euro Pacific Capital and author of 
by John Browne – Senior Market Strategist, Euro Pacific Capital
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