A few notable observations and quotes about our illustrious leadership while America goes the way of the late Roman Empire.

Earlier this week, Armstrong and Getty queried on their radio show, why are leftist demonstrators in Copenhagen called “protestors” in the media (MSM), whereas the rather peaceful tea party demonstrators have been labeled as “dangerous radicals.” As they say, birds of a feather flock together. Brent Baker wrote in the San Francisco Chronicle (“In Touting ‘Climate Justice’ Protesters, Networks Oblivious to Communist Participation,” Dec. 13, 2009):

Network journalists who were quick to see racists, haters and extremists amongst the “tea party” protesters were oblivious on Saturday to communists in the “climate justice” march in Copenhagen whose cause they trumpeted — even as the video they showed included brief shots of marchers waving red flags displaying the Soviet Union’s hammer and sickle.

So apparently if you love America and believe in the Constitution you’re a “dangerous radical” but if you’re a communist or window smashing, unwashed anarchist you’re a peaceful protestor. When did our media elite become advocates of totalitarianism anyway? Was it while we were sleeping? Maybe it was the Invasion of the Body Snatchers?

Interestingly enough, in their desperate attempt to save our planet, cadres of the rich and powerful descended on Copenhagen in such great numbers that the Danes ran out of limos and private jets. Let’s see, the rest of us are expected to ride bicycles or walk but the wealthy and powerful acolytes of “the sky is falling” Al Gore can burn up all the fossil fuels they like in what amounted to a ridiculous dog and pony show for the stupid and gullible. As Glenn Reynolds: commented: “I’ll believe it’s a crisis when the people who tell me it’s a crisis start acting like it’s a crisis.” The following report is from Andrew Bolt at Heraldsun.com.au (Monday, December 07, 2009):

The Copenhagen summit of global warmists is now a huge threat to the planet:

On a normal day, Majken Friss Jorgensen, managing director of Copenhagen’s biggest limousine company, says her firm has twelve vehicles on the road. During the “summit to save the world”, which opens here tomorrow, she will have 200.

“We thought they were not going to have many cars, due to it being a climate convention,” she says…

“We haven’t got enough limos in the country to fulfil the demand,” she says. “We’re having to drive them in hundreds of miles from Germany and Sweden.”

And the total number of electric cars or hybrids among that number? “Five,” says Ms Jorgensen…

The airport says it is expecting up to 140 extra private jets during the peak period alone, so far over its capacity that the planes will have to fly off to regional airports – or to Sweden – to park, returning to Copenhagen to pick up their VIP passengers.

As well 15,000 delegates and officials, 5,000 journalists and 98 world leaders, the Danish capital will be blessed by the presence of Leonardo DiCaprio, Daryl Hannah, Helena Christensen, Archbishop Desmond Tutu and Prince Charles.

The glitterati had to destroy the planet in order to save it.

Of course truth be told, many went to Copenhagen from the league of assorted third world dictatorships to see how much guilt money they could scam from the developed world: $200,000,000,000 annually at last count. More than likely they’ll spend the dough on rocket launchers or fighter jets and not on electric cars or solar panels, but who are we to complain. As they also say, a fool and his money are soon parted.

Speaking of money, ever wonder why so many fat cats like George Soros are so enthusiastic about socialism? Armand Hammer was a big promoter of communism and an ally of Lenin, while Warren Buffet is a supporter of Obama (well-known American socialist). The rich have always been supporters of statism and monopolistic capitalism as opposed to free market capitalism, so maybe it should come as no surprise. As Murray Rothbard has argued in The Case Against the Fed (Auburn, AL: Ludwig von Mises Institute, 1994), the power politics of  late nineteenth and twentieth century America has largely been a struggle between the Rockfeller and Morgan financial houses and their allies. The bankers, in collusion with government, snuck in the Federal Reserve Act of 1913, which eventually gave them unlimited power to inflate our currency. If you have any doubts about whether the Fed loves inflation, ask yourself this: Why, after our recent financial meltdown, is Bernanke and company keeping interest rates so low, while the rest of the world abandons the dollar and world central banks stock up on gold? Inflation isn’t the solution to our problems; it was the cause of the problem to begin with. Meanwhile, our fool on the Hill, Obama, is griping at the fat cats for not making more loans: Loans to whom, people who can’t afford to pay them back? If anything, you’d think he’d want the banks to keep a little more in reserve to prevent another financial collapse. But while Bernie Madoff sits in jail, the Fed continues to perpetrate the greatest ponzi scheme on earth, fractional reserve banking, loaning more money than they’ll ever print. Money is credit; money is debt! And the bankers borrow from the Fed at ridiculously low interest rates and then loan it back to US, at no risk. Quite a deal is it not.

Bill Bonner (quoting Robert Higgs) had this to say about our financial woes in The Daily Reckoning Australia (November 25, 2009):

“To listen to our glorious leaders discuss such matters is to realize that they have no real understanding of what they are dealing with,” writes Independent Institute Senior Fellow Robert Higgs in a new post on The Beacon. “They see the collapse of an artificially stimulated house-construction industry, and they conclude: the government must subsidize more house construction. They see the collapse of real estate prices, and they conclude: the government must stimulate demand for real estate in order to raise its price.”

Had policymakers grasped the causes of the housing boom and subsequent bust, they would have stopped subsidizing unqualified borrowers, stopped trying to raise the prices of houses, and let the economic process work itself out through market processes. Continues Higgs: “Simply piling on more and more of the same distortive policies that generated the crisis in the first place can, at best, only delay the day of reckoning while magnifying the adjustments that ultimately will have to occur.” ["Government Responds to Economic Woes by Making More Bad Mortgages Loans", by Robert Higgs (The Beacon, 11/22/09)]

By the way, did you know that Paul Krugman, darling of the leftwing Keynsians, advocated that the Fed support a housing bubble back in 2002, six years before he won the Noble Prize in economics? As he editorialized about the bursting dot.com bubble in the New York Times back in August 2002:

This was a prewar-style recession, a morning after brought on by irrational exuberance. To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble. From Doug French, “The Power of The Theory of Money and Credit,” Mises Daily, 12/10/09 

Amazing isn’t it? And he got a Noble Prize for such profound thinking. On the other hand, another Noble Prize winning economist, Friedrich Hayek, had this to say about a similar situation (otherwise known as the Great Depression) 76 years ago:

“There can…be little doubt that …a deflation process is going on…Central Banks, particularly in the United States, have been making earlier and are more far-reaching efforts than have ever been undertaken before to combat the depression by a policy of credit expansion – with the result that the depression has lasted longer and has become more severe than any preceding one.

“…all conceivable means have been used to prevent the readjustment from taking place; and one of those means , which has been repeatedly tried though without success, from the earliest to the most recent stages of depression, has been this deliberate policy of credit expansion… To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about…” From Bill Bonner, “The Retarded Recovery,” The Daily Reckoning Australia, 12/14/09

And that’s about it folks: we’re trying “to cure the evil by the very means which brought it about.” Give a drowning man a gallon of water and a burning man more sunshine and heat. More stimulus spending, Cap and Trade, a trillion dollar healthcare bill and everything will be alright. Just don’t tell the kids they’ll have to pay the bill!

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Tags: America, Copenhagen, Federal Reserve, financial meltdown, Hayek, Inflation, Krugman, Obama, Stimulus

This entry was posted by Mark Amagi on Saturday, December 19th, 2009 at 7:48 PM and is filed under Global Warming. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.