Category — Law/Government

NEW YORK MAGAZINE’s December feature article is a treatise on the Libertarian Tea Party.  Except the author, Christopher Beam, misses the obvious.   The Tea Party is NOT Libertarian.

The Tea Party Caucus with 68+ members in the House exists, and it isn’t the Liberty Caucus with 13 members which, of course, consists of Libertarians.  Ron Paul the outspoken long term spokesman for Libertarians is not a member of the Tea Party Caucus, and refused to join.

The Tea Party consists of American Values Voters, historically populists, who don’t have, don’t want, and don’t believe in ideologies, even those ideologies like Libertarianism that have some vague similarity to their voting values, which include, voting for candidates who are truthful and appear honest; who oppose government corruption and special interest legislation, and among other things, distrust government.

That tens of millions of American Value Voters exist, as they have existed for at least 190 years, not in NY or New England, but in rest of the US seems to be beyond the comprehension of progressive NY journalists who seem to never have taken a course in US history, of if they did, forgot US history.  This is aside from the fact they miss the obvious in the current makeup of the Congress.

Chairman Ben scares at least one viewer at Business Insider who distrusts academics.

Federal Reserve Chairman Ben Bernanke appeared on 60 Minutes this week to sell the Fed’s quantitative easing, print money, policy to the public just like any other politico.

Defeated Democratic gubernatorial candidates say they were not elected because Democrats are viewed by voters as “elitist” and “European.”  It is also no secret that 95% of the Obama Administration’s cabinet posts and political appointees are academics from “elite” universities .

Democrats have been unable so far to rebut this charge of academic elitism.

All nine  Supreme Courts justices are Harvard (5) or Yale (4) law school graduates.  Only Harvard or Yale law school graduates are considered as likely candidates for the nation’s high court.  But the nation has over 1200 law schools.

For twenty-two years only Harvard and Yale graduates have been elected President.

Ben Bernanke’s statement that he is “100% certain” the Fed can control inflation will be remembered.  Even if the Fed does control technical inflation, if mom’s finds groceries and products at Wallmart substantially more expensive as a result of Federal Reserve policy, then the academic economists at the Federal Reserve will get failing grades as both practical economists, and as political economists.

At stake for academics in elite universities in the US is the whole idea that academics can plan and manage the US economy, including industries like health care.  Who voters want in charge of the Federal Reserve are practical successful bankers.  Not academics.

Expect depreciation in the value of  Sheepskins if Chairman Ben and other elite academics now in charge of the US economy, legal system, and politics are unsuccessful.

The complete Bernanke’s interview on 60 Minutes is here.

RUTH MC CLUNG IS AHEAD in AZ CD-7 against Raul Grijavla co-chair of the Progressive Caucus in the House, and chairman of the Hispanic Caucus.

If the 28 year old physicist and mom wins, as the polls are showing, it will shake the Democratic Party to its core.  Mama Griz McClung v. The Mustache Grijavla.

BLOOMBERG REPORTS the Federal Home Loan Bank Board will eventually have to write off $1 trillion in loses.  And, oh, yes it will have to be bailed out by taxpayers.

It will take time for Americans to realize the nation is insolvent and that trillions in mortgage securities loses will eventually be added to the exploding national debt.

THE QUOTE OF THE DAY “California budget going Mayan in 2012″ from Dr. Housing Bubble.  Oh, Goodie.  But the good Doctor didn’t add the worst part: by 2012 California will have lost another 9% of its base industry jobs.