Why do so many follow Jesus? His church is under renewed attack. What is it about this man that builds faith in so many?
He was a good man. He led a simple life. We know little about most of his years. He cared for his Mother and had time for the poor and the discarded and the indigent. He did not seem to think all that well of the leaders of his religion and did have conflicts with them. He paid little attention to the rulers; dismissing their antics as temporal. He was obedient to his Father. He saw and forgave the weakness of others. And, he apparently spoke sometimes in mysterious ways. And, 2000 years later, so many of us follow him and his example and promise of hope.
In Augusta, Georgia there is a group of men who maintain an annual tradition and this week happens to be their time. Over the past months there has been a side show based on one of the golfers off course failings. The hoopla has captured an undue amount of the fleeting media interest that now passes as journalism and public interest in our land. The group’s leader spoke to the issue briefly and very succinctly. “He has disappointed us all.” “We at Augusta hope and pray that our great champion will begin his new life here tomorrow in a positive, hopeful and constructive manner, but this time, with a significant difference from the past.” And the comment that really captured the moment for TheFundamentals, "I hope," Payne said, "he now realizes that every kid he passes on the course wants his swing, but would settle for his smile."
…would settle for his smile. That’s pretty powerful stuff.
In Washington DC yesterday, in what passes as inquisition and responsibility and accountability in this inbred community on the banks of the Potomac, the man who oversaw the deterioration of the financial condition of America's largest banks and investment companies as well as the threatened destruction of the worlds entire confidence based financial system (or at least so they said) sat in the dock and faced his inquisitors. He ducked, dodged and defended and deflected his way until the lights went out. Now, please remember, this man was given everything any mere mortal could expect in the way of praise, support, accolades, budget, staff, public microphone and time and, one other thing, responsibility. He was responsible for the safety of America’s banks and the stability of the financial system. It was his job. He not only failed, his failure was accompanied by more material consequence than anything in recent memory. No current leader said, “He has disappointed us all.” No replacement leader has set a course “with a significant difference from the past.”
The deficits double and triple. The debt increases geometrically. The silly media clamor about. No one demands real standards except for a few fellows in the eastern hills of Georgia who strive to keep their game's standards intact. On the banks of the Potomac the lights go out and the minions gather to reflect on one more day’s passage with little concern for the self discipline needed to provide “a new life tomorrow (based on) a positive, hopeful and constructive manner.”
And the message of hope of one Man lasts and lasts.
Thursday, April 8, 2010
Tuesday, April 6, 2010
Forgive them for they know not what they do
With these few words, Jesus set a lasting example of acceptance, generosity and the meaning of forgiveness.
Can we do the same when all that is at risk is our pocketbooks, bank accounts and sense of right versus wrong? We are not being pilloried or crucified. We are only being forced to do things that we know are wrong; that we know lead to an unattractive outcome. Regardless, we will survive.
So, why don’t we let go and go along with the plan? Why are we so negative and down on the new regime? At TheFundamentals we have been accused of being racist for not promoting and supporting the new administration’s plans and legislative proposals. We are told to look for the positive; stop with all the negative essays. We are reminded that the previous administration made lots of mistakes and spent lots of money. Where were we when all that was going on? Why were we not yelping and complaining and criticizing and howling then?
Why not just follow Jesus’ example?
Well, for several reasons. We do not think we have been asked to save humanity. We are not engaged in this fight because we want to open the doors of heaven to mankind. We have only one real accomplishment in mind. Just one simple task that we think is important to the well being of a country that provided such wonderful opportunity for us. We think that each person who wants to work hard, get an education, obey the law and take care of their responsibilities should be able to live a life of their choosing without constant interference and rule/law imposition from detached but powerful government entities and representatives. It’s as simple as that. The idea of an ever changing and ever increasing set of taxes, rules, laws and encroachment on everyday living and everyday commerce must be reset to a much lower, more manageable level. We see it as lower taxes; fewer rules; many fewer government agencies and employees and much more reasonable costs for the levels of government and education and health care that we all need.
The 50 year build up of special interests, protected classes, public employee unions and very high wages, benefits and pensions; never ending litigation for anything from a medical mistake to a spilled cup of hot coffee to a too noisy neighbor has now burdened our very economic freedoms to a reduced performance level that leaves us falling drastically behind our more competitive foreign friends.
We prefer a competitive, innovative performance oriented society – in education, in commerce and in our basic values. We do not want a handout. We do not believe that we are entitled to endless health care; any form of education we desire; a government employee who really cares about anything we can think of or constant warnings about foods, cigarettes, car seats, vehicle emissions, global warming, terrorists and flu viruses. We don’t need a president who is on TV five times a day and cannot even answer a simple question about high taxes without reverting to 15 minutes of 15 month old campaign rhetoric. We can get along fine on our own. We will take care of making sure our children are safe; that our seat belts are secured; that we watch what we eat/smoke/drink and we will be real safe when using our lawn mowers or riding around on our motorcycles. We can handle it just fine, thank you. We might even put a helmet on once in a while when riding our bike but, and we know this is hard to believe, as kids not only did no one even have a helmet but we used to ride “no hands” all the time.
That’s all we want. We’ll make a deal. You cool it and we will forgive you. It is time for all the aforementioned folk to take one big, long timeout. Just like little kids. Heck we might even help some of you find a real job. One where you pay taxes.
Can we do the same when all that is at risk is our pocketbooks, bank accounts and sense of right versus wrong? We are not being pilloried or crucified. We are only being forced to do things that we know are wrong; that we know lead to an unattractive outcome. Regardless, we will survive.
So, why don’t we let go and go along with the plan? Why are we so negative and down on the new regime? At TheFundamentals we have been accused of being racist for not promoting and supporting the new administration’s plans and legislative proposals. We are told to look for the positive; stop with all the negative essays. We are reminded that the previous administration made lots of mistakes and spent lots of money. Where were we when all that was going on? Why were we not yelping and complaining and criticizing and howling then?
Why not just follow Jesus’ example?
Well, for several reasons. We do not think we have been asked to save humanity. We are not engaged in this fight because we want to open the doors of heaven to mankind. We have only one real accomplishment in mind. Just one simple task that we think is important to the well being of a country that provided such wonderful opportunity for us. We think that each person who wants to work hard, get an education, obey the law and take care of their responsibilities should be able to live a life of their choosing without constant interference and rule/law imposition from detached but powerful government entities and representatives. It’s as simple as that. The idea of an ever changing and ever increasing set of taxes, rules, laws and encroachment on everyday living and everyday commerce must be reset to a much lower, more manageable level. We see it as lower taxes; fewer rules; many fewer government agencies and employees and much more reasonable costs for the levels of government and education and health care that we all need.
The 50 year build up of special interests, protected classes, public employee unions and very high wages, benefits and pensions; never ending litigation for anything from a medical mistake to a spilled cup of hot coffee to a too noisy neighbor has now burdened our very economic freedoms to a reduced performance level that leaves us falling drastically behind our more competitive foreign friends.
We prefer a competitive, innovative performance oriented society – in education, in commerce and in our basic values. We do not want a handout. We do not believe that we are entitled to endless health care; any form of education we desire; a government employee who really cares about anything we can think of or constant warnings about foods, cigarettes, car seats, vehicle emissions, global warming, terrorists and flu viruses. We don’t need a president who is on TV five times a day and cannot even answer a simple question about high taxes without reverting to 15 minutes of 15 month old campaign rhetoric. We can get along fine on our own. We will take care of making sure our children are safe; that our seat belts are secured; that we watch what we eat/smoke/drink and we will be real safe when using our lawn mowers or riding around on our motorcycles. We can handle it just fine, thank you. We might even put a helmet on once in a while when riding our bike but, and we know this is hard to believe, as kids not only did no one even have a helmet but we used to ride “no hands” all the time.
That’s all we want. We’ll make a deal. You cool it and we will forgive you. It is time for all the aforementioned folk to take one big, long timeout. Just like little kids. Heck we might even help some of you find a real job. One where you pay taxes.
Sunday, April 4, 2010
Be not afraid
Rejoice. He is Risen.
And on the first day of the week, Mary Magdalen cometh early, when it was yet dark, unto the sepulchre: and she saw the stone taken away from the sepulchre. She ran therefore and cometh to Simon Peter and to the other disciple whom Jesus loved and saith to them:
They have taken away the Lord out of the sepulchre: and we know not where they have laid him.
Peter therefore went out, and the other disciple: and they came to the sepulchre. And they both ran together: and that other disciple did outrun Peter and came first to the sepulchre. And when he stooped down, he saw the linen cloths lying: but yet he went not in. Then cometh Simon Peter, following him, and went into the sepulchre: and saw the linen cloths lying, and the napkin that had been about his head, not lying with the linen cloths, but apart, wrapped up into one place. Then that other disciple also went in, who came first to the sepulchre: and he saw and believed.
For as yet they knew not the scripture, that he must rise again from the dead.
John 20:1-9
And on the first day of the week, Mary Magdalen cometh early, when it was yet dark, unto the sepulchre: and she saw the stone taken away from the sepulchre. She ran therefore and cometh to Simon Peter and to the other disciple whom Jesus loved and saith to them:
They have taken away the Lord out of the sepulchre: and we know not where they have laid him.
Peter therefore went out, and the other disciple: and they came to the sepulchre. And they both ran together: and that other disciple did outrun Peter and came first to the sepulchre. And when he stooped down, he saw the linen cloths lying: but yet he went not in. Then cometh Simon Peter, following him, and went into the sepulchre: and saw the linen cloths lying, and the napkin that had been about his head, not lying with the linen cloths, but apart, wrapped up into one place. Then that other disciple also went in, who came first to the sepulchre: and he saw and believed.
For as yet they knew not the scripture, that he must rise again from the dead.
Mark 16: 1 - 8
- And when the sabbath was past, Mary Magdalena, and Mary the mother of James, and Salome, had bought sweet spices, that they might come and anoint him.
- And very early in the morning the first day of the week, they came unto the sepulchre at the rising of the sun. And they said among themselves, Who shall roll us away the stone from the door of the sepulchre? And when they looked, they saw that the stone was rolled away: for it was very great.
- And entering into the sepulchre, they saw a young man sitting on the right side, clothed in a long white garment; and they were affrighted. And he saith unto them, Be not affrighted: Ye seek Jesus of Nazareth, which was crucified: he is risen; he is not here: behold the place where they laid him.
- But go your way, tell his disciples and Peter that he goeth before you into Galilee: there shall ye see him, as he said unto you. And they went out quickly, and fled from the sepulchre; for they trembled and were amazed: neither said they any thing to any man; for they were afraid
Thursday, April 1, 2010
The Protection Committee
Most people are not union members. Most people work in jobs where they can lose their employment for any one of a number of reasons. Sometimes no reason at all. Usually, though, people lose their jobs because of poor performance, either by them or by their employer. This simple fact is a key component of our free enterprise system. The competitive prevail until a better competitor comes along. New and better products and services replace older products and services. Most of us know this. We all benefit from this process even though it can be anxiety producing.
There is one guy who has benefitted from it but he sure doesn’t support it. He thinks it makes sense to pay more for something than someone else is willing and able to provide, at the same level of quality, at a lower price. He thinks you should keep your job even if you are not doing your job. He also thinks you should keep your job even if your employer is not as competitive as another employer. Who could this person be? An attorney? A politician? Both? Where could this form of foolishness survive and thrive? Where do they teach protection over competition? Where do people believe that it is better to pay the highest price? When you go shopping do you always look to make your purchases at the highest possible price? Who has such abundance that this form of waste and corruption can actually be the preferred system? Better than open bidding; better than the selection of highest quality at lowest price? And, if someone wanted to improve the economic growth of a country, encourage job creation and successful, competitive businesses that could beat out foreign exporters and sell more overseas, would that someone encourage protection and higher costs and lower productivity? Well, let’s see.
Two days ago we posted an essay wherein the president set up a committee of bureaucrats to promote doubling US exports in five years. A little over a year ago, just after taking office, Obama issued an executive order. The order was issued on February 6, 2009. It undid a GWBush order that required federal contracts to go to the lowest bidder in open bidding. The new order says federal contracts must go to union shops only. Forget about right to work laws which many states have. If you want to get a federal contract you had better be a union shop and that the highest prevailing wage be paid to all labor involved in the contract. This order is a very costly political payoff that is exactly the opposite of the type of government action that would work toward making America more productive and more competitive on world markets. Why don’t one of those brilliant economists with names like Bernanke and Summers and Orszag and Reich and Krugman prepare one of their prize winning mathematical models that will show how this order will do anything to cause a consumer in foreign country to buy something made in the US of A?
Here is the order. Read it for yourself. We are not making this stuff up!
Revoking GWBush Open Bidding Orders - http://www.whitehouse.gov/the-press-office/executive-order-use-project-labor-agreements-federal-construction-projects
TheFundamentals has no problem with union shops getting federal contracts or any contracts for that matter. We just happen to know that competition comes from open bidding; where the best provider at the lowest cost prevails. What on earth is the purpose of favoring the union shop? The United States is playing in a large arena with many capable competitors. Union protection decrees and rules and legislation do not make the US more competitive. They make us less competitive. These artificial, anti-market/anti-competition decrees destroy our competitiveness in exports. Will any of Mr. Obama’s bureaucrats on his Export Promotion Committee stand up and state this simple fact? Will anyone ask Mr. Obama about these bad decisions? Please don’t forget this posting come November 2, 2010.
There is one guy who has benefitted from it but he sure doesn’t support it. He thinks it makes sense to pay more for something than someone else is willing and able to provide, at the same level of quality, at a lower price. He thinks you should keep your job even if you are not doing your job. He also thinks you should keep your job even if your employer is not as competitive as another employer. Who could this person be? An attorney? A politician? Both? Where could this form of foolishness survive and thrive? Where do they teach protection over competition? Where do people believe that it is better to pay the highest price? When you go shopping do you always look to make your purchases at the highest possible price? Who has such abundance that this form of waste and corruption can actually be the preferred system? Better than open bidding; better than the selection of highest quality at lowest price? And, if someone wanted to improve the economic growth of a country, encourage job creation and successful, competitive businesses that could beat out foreign exporters and sell more overseas, would that someone encourage protection and higher costs and lower productivity? Well, let’s see.
Two days ago we posted an essay wherein the president set up a committee of bureaucrats to promote doubling US exports in five years. A little over a year ago, just after taking office, Obama issued an executive order. The order was issued on February 6, 2009. It undid a GWBush order that required federal contracts to go to the lowest bidder in open bidding. The new order says federal contracts must go to union shops only. Forget about right to work laws which many states have. If you want to get a federal contract you had better be a union shop and that the highest prevailing wage be paid to all labor involved in the contract. This order is a very costly political payoff that is exactly the opposite of the type of government action that would work toward making America more productive and more competitive on world markets. Why don’t one of those brilliant economists with names like Bernanke and Summers and Orszag and Reich and Krugman prepare one of their prize winning mathematical models that will show how this order will do anything to cause a consumer in foreign country to buy something made in the US of A?
Here is the order. Read it for yourself. We are not making this stuff up!
Revoking GWBush Open Bidding Orders - http://www.whitehouse.gov/the-press-office/executive-order-use-project-labor-agreements-federal-construction-projects
TheFundamentals has no problem with union shops getting federal contracts or any contracts for that matter. We just happen to know that competition comes from open bidding; where the best provider at the lowest cost prevails. What on earth is the purpose of favoring the union shop? The United States is playing in a large arena with many capable competitors. Union protection decrees and rules and legislation do not make the US more competitive. They make us less competitive. These artificial, anti-market/anti-competition decrees destroy our competitiveness in exports. Will any of Mr. Obama’s bureaucrats on his Export Promotion Committee stand up and state this simple fact? Will anyone ask Mr. Obama about these bad decisions? Please don’t forget this posting come November 2, 2010.
Tuesday, March 30, 2010
The Promotion Committee
On March 11, 2010, Mr. Obama, seeker of all things good for all people in need, issued an executive order promoting his goal of doubling US exports over the next five years. The press release accompanying the order was deceitful in that it included direct misstatements of facts about the position of the US vis-a-vis its exporting competitors around the globe. The US lost its number one position some time ago and now trails both China and Germany in absolute export dollar amounts but, even more important, when evaluated on a per capita basis, the US trails most all of its major exporting competitors. Now, the Obama gang, following a pattern of applying campaign logic (reach for the stars, speak in lofty terms, criticize others but never be introspective, avoid specificity in commitments and programs and always introduce either directly or subtly some form of fear) has recognized that the US is slipping and does not want to appear to be disengaged on what is a very important and growing problem. So, they issue an order and will be able to take cover behind this order as the reality of a growing uncompetitive America deals with countries that now produce more, sell more and accumulate more while America produces less, sells less and gets itself deeper and deeper into debt. Obama created an “Export Promotion Cabinet” to get exports going. Quoting directly from the order, here are Obama’s appointee’s to the Promotion Cabinet:
Sec. 2. Export Promotion Cabinet. There is established an Export Promotion Cabinet to develop and coordinate the implementation of the NEI. The Export Promotion Cabinet shall consist of:
(a) the Secretary of State;
(b) the Secretary of the Treasury;
(c) the Secretary of Agriculture;
(d) the Secretary of Commerce;
(e) the Secretary of Labor;
(f) the Director of the Office of Management and Budget;
(g) the United States Trade Representative;
(h) the Assistant to the President for Economic Policy;
(i) the National Security Advisor;
(j) the Chair of the Council of Economic Advisers;
(k) the President of the Export-Import Bank of the United States;
(l) the Administrator of the Small Business Administration;
(m) the President of the Overseas Private Investment Corporation;
(n) the Director of the United States Trade and Development Agency; and
(o) the heads of other executive branch departments, agencies, and offices as the President may, from time to time, designate.
If you ever don’t want to accomplish something, just create a committee of no real experience individuals such as the fourteen bureaucrats designated above. Not one ounce of business, competition or real life experience in the group. You can read the entire order by clicking on http://www.whitehouse.gov/the-press-office/executive-order-national-export-initiative TheFundamentals would encourage you to also reference its posting dated February 23, 2009 entitled simply, “Exports” for the facts. By the way, Obama’s order never mentions the word “competition.” He never mentions the words “competitive advantage” or "product differentiation." Why do you think that is?
There are many major problems with what this government is doing; here are just two. First, they don’t approach a large problem such as the deteriorating competitiveness of the US as a problem to be analyzed, understood and then tackled with necessary remedial action for change. Second, they avoid the reality of a problem such as American uncompetitiveness because the principal solution to this problem requires a reversal of the very policies and programs that they have introduced, supported, passed into law, built bureaucracies around and secured the votes of millions of special interest beneficiaries in the process. How can one possibly correct bad theory when your livelihood and very political existence depend on the continuation of same?
In the Obama world, the road to prosperity is paved with the largesse of government support for special interest programs and legislation. There is no better example than referencing Obama’s very own actions. Can you imagine a world in which a committee of government bureaucrats successfully makes America's products and services more competitive in world markets? Would you like to buy a product that this committee endorsed? Why is America slipping behind? Why are other countries more successful in selling their products and services? Does America’s heavy reliance on government intervention in all aspects of commerce; constant lawyering, litigation and rule making and spectacular low result, high cost public unionization help its competitiveness?
Next, we will look at a labor practice where Obama can control the outcome. We will look at one other of his executive orders which was issued within weeks of taking office in January 2009. We will analyze whether his position on this “executive order” is consistent with this statement decreeing more exports. Or, could it just serve to make US exports even less attractive In world markets?
Sec. 2. Export Promotion Cabinet. There is established an Export Promotion Cabinet to develop and coordinate the implementation of the NEI. The Export Promotion Cabinet shall consist of:
(a) the Secretary of State;
(b) the Secretary of the Treasury;
(c) the Secretary of Agriculture;
(d) the Secretary of Commerce;
(e) the Secretary of Labor;
(f) the Director of the Office of Management and Budget;
(g) the United States Trade Representative;
(h) the Assistant to the President for Economic Policy;
(i) the National Security Advisor;
(j) the Chair of the Council of Economic Advisers;
(k) the President of the Export-Import Bank of the United States;
(l) the Administrator of the Small Business Administration;
(m) the President of the Overseas Private Investment Corporation;
(n) the Director of the United States Trade and Development Agency; and
(o) the heads of other executive branch departments, agencies, and offices as the President may, from time to time, designate.
If you ever don’t want to accomplish something, just create a committee of no real experience individuals such as the fourteen bureaucrats designated above. Not one ounce of business, competition or real life experience in the group. You can read the entire order by clicking on http://www.whitehouse.gov/the-press-office/executive-order-national-export-initiative TheFundamentals would encourage you to also reference its posting dated February 23, 2009 entitled simply, “Exports” for the facts. By the way, Obama’s order never mentions the word “competition.” He never mentions the words “competitive advantage” or "product differentiation." Why do you think that is?
There are many major problems with what this government is doing; here are just two. First, they don’t approach a large problem such as the deteriorating competitiveness of the US as a problem to be analyzed, understood and then tackled with necessary remedial action for change. Second, they avoid the reality of a problem such as American uncompetitiveness because the principal solution to this problem requires a reversal of the very policies and programs that they have introduced, supported, passed into law, built bureaucracies around and secured the votes of millions of special interest beneficiaries in the process. How can one possibly correct bad theory when your livelihood and very political existence depend on the continuation of same?
In the Obama world, the road to prosperity is paved with the largesse of government support for special interest programs and legislation. There is no better example than referencing Obama’s very own actions. Can you imagine a world in which a committee of government bureaucrats successfully makes America's products and services more competitive in world markets? Would you like to buy a product that this committee endorsed? Why is America slipping behind? Why are other countries more successful in selling their products and services? Does America’s heavy reliance on government intervention in all aspects of commerce; constant lawyering, litigation and rule making and spectacular low result, high cost public unionization help its competitiveness?
Next, we will look at a labor practice where Obama can control the outcome. We will look at one other of his executive orders which was issued within weeks of taking office in January 2009. We will analyze whether his position on this “executive order” is consistent with this statement decreeing more exports. Or, could it just serve to make US exports even less attractive In world markets?
Thursday, March 25, 2010
The Government Housing Bubble
On Tuesday, Secretary Treasury Geithner finally embraced some reality about the derivation of America’s mess. Here are some of his comments to Barney Frank’s committee: "The performance of the GSEs was symptomatic of this larger regulatory and oversight failure. They were allowed to earn private gains for many years, but ultimately the taxpayer subsidized their losses. They were allowed to expand and manage their investment portfolios without regard to the risk they posed to the system. Over time, the GSEs (Fannie Mae and Freddie Mac) were permitted to guarantee riskier mortgages and mortgage-backed securities. They were not required to hold adequate capital and employed inadequate risk management."
The entire remarks are available for review at http://www.ustreas.gov/press/releases/tg603.htm
This document may grow to become a testament about the inherent flaws and weakness of unregulated government activity in any major sector of the economy. TheFundamentals has been spectacularly critical of Geithner. We see no reason to change our position based on this one accurate, no punches pulled assessment of the breakdown of all aspects of the United States government in the creation and subsequent care and feeding of the US housing bubble. Geithner’s remarks are the most explicit indictment of government in all respects – elected politicians, bureaucrats, lawyers and their special interest co conspirators. Barney Frank spent most of his time during Geithner’s presentation and Q and A period defending himself and the party in power and pointing the finger at the party out of power. Frank simply does not get it. He continues to see issues through the eyes of a person who knows deep down that he is responsible but he cannot accept responsibility so he dances, deflects and defends. It is absolutely pathetic to see such a weak individual in the powerful position he holds due solely to a lack of term limits. Frank and his associates are determined to condemn this country to more of his brand of “lowest common denominator” governing and regulating. Geithner accurately described it as, “a race to the bottom…”
OK. So what?
Each major bureaucrat in the national government could do what Geithner did on Tuesday. Each could self examine their function and self indict and, at a minimum, start to change the conversation in the United States from the Disney-like fiction about the benefits and successes of government activities and, instead, start the recognition process of seeing the weaknesses and flaws in government dominated activities. It is no different than the process an addict goes through if he/she intends to rehabilitate. They must embrace the reality of their situation.
To wit, Education Secretary Arne Duncan is the new boy dancing to the tune of low expectation, low common denominator self interest unions that have devastated the prospects of principally urban youth by forcing them to attend damaged school systems. Instead of clamoring for more money, which was the downfall of FNMA and FHLMC, Duncan should call for a long time out and a direct assessment of the horrible record of the NEA and AFT in our large cities school systems. His call should be to privatize education, introduce competition and eliminate the self interest dominated control of the teachers union. Where and when will we get a Geithner like analysis of this situation? It is time for an intervention Mr. Duncan.
To wit, Health and Human Services Secretary Kathleen Sebelius is in charge of Medicare and Medicaid. These programs and systems are broken, busted and bewildered. Health care costs in the United States are double per capita (see: TheFundamentals, September 24, 2009) than other major developed countries with no resulting longevity benefit. Instead of a Geithner like analysis we get government double talk. Where is the honest analysis? It is possible that this person just doesn’t grasp the severity of the problem? We doubt it. More than likely it is timed deception designed to provide cover until she can move on to another job with better pay and benefits.
To wit, the Postmaster General, Mr. Jack Potter. His entity is no longer able to compete. His concessions to the postal union are matched by similar cushy contracts by SEIU and NTEU and the aforementioned education unions – AFT and NEA and numerous other public employee unions in providing spectacular wages and benefits for their employees as the revenues decline and the business models beg for revision. Where is the honest analysis?
Here is how Geithner described the housing bubble and the performance of Fannie Mae and Freddie Mac. “A colossal, devastating failure.”
Amen Mr. Geithner. Duncan, Sebelius and Potter could mouth the same words and begin a real period of introspection and change. You (Geithner) have to because you are living the reality of the mess. You can’t dodge it. Let’s hope your example, albeit rendered posthumously, is contagious.
We want to repeat several statements from above because of their significance. Unregulated government activity in any major section of the economy is inherently flawed. “A race to the bottom.” “A colossal, devastating failure.” Give Geithner credit. Read his assessment. Demand this accountability from all the millions of government employees.
The entire remarks are available for review at http://www.ustreas.gov/press/releases/tg603.htm
This document may grow to become a testament about the inherent flaws and weakness of unregulated government activity in any major sector of the economy. TheFundamentals has been spectacularly critical of Geithner. We see no reason to change our position based on this one accurate, no punches pulled assessment of the breakdown of all aspects of the United States government in the creation and subsequent care and feeding of the US housing bubble. Geithner’s remarks are the most explicit indictment of government in all respects – elected politicians, bureaucrats, lawyers and their special interest co conspirators. Barney Frank spent most of his time during Geithner’s presentation and Q and A period defending himself and the party in power and pointing the finger at the party out of power. Frank simply does not get it. He continues to see issues through the eyes of a person who knows deep down that he is responsible but he cannot accept responsibility so he dances, deflects and defends. It is absolutely pathetic to see such a weak individual in the powerful position he holds due solely to a lack of term limits. Frank and his associates are determined to condemn this country to more of his brand of “lowest common denominator” governing and regulating. Geithner accurately described it as, “a race to the bottom…”
OK. So what?
Each major bureaucrat in the national government could do what Geithner did on Tuesday. Each could self examine their function and self indict and, at a minimum, start to change the conversation in the United States from the Disney-like fiction about the benefits and successes of government activities and, instead, start the recognition process of seeing the weaknesses and flaws in government dominated activities. It is no different than the process an addict goes through if he/she intends to rehabilitate. They must embrace the reality of their situation.
To wit, Education Secretary Arne Duncan is the new boy dancing to the tune of low expectation, low common denominator self interest unions that have devastated the prospects of principally urban youth by forcing them to attend damaged school systems. Instead of clamoring for more money, which was the downfall of FNMA and FHLMC, Duncan should call for a long time out and a direct assessment of the horrible record of the NEA and AFT in our large cities school systems. His call should be to privatize education, introduce competition and eliminate the self interest dominated control of the teachers union. Where and when will we get a Geithner like analysis of this situation? It is time for an intervention Mr. Duncan.
To wit, Health and Human Services Secretary Kathleen Sebelius is in charge of Medicare and Medicaid. These programs and systems are broken, busted and bewildered. Health care costs in the United States are double per capita (see: TheFundamentals, September 24, 2009) than other major developed countries with no resulting longevity benefit. Instead of a Geithner like analysis we get government double talk. Where is the honest analysis? It is possible that this person just doesn’t grasp the severity of the problem? We doubt it. More than likely it is timed deception designed to provide cover until she can move on to another job with better pay and benefits.
To wit, the Postmaster General, Mr. Jack Potter. His entity is no longer able to compete. His concessions to the postal union are matched by similar cushy contracts by SEIU and NTEU and the aforementioned education unions – AFT and NEA and numerous other public employee unions in providing spectacular wages and benefits for their employees as the revenues decline and the business models beg for revision. Where is the honest analysis?
Here is how Geithner described the housing bubble and the performance of Fannie Mae and Freddie Mac. “A colossal, devastating failure.”
Amen Mr. Geithner. Duncan, Sebelius and Potter could mouth the same words and begin a real period of introspection and change. You (Geithner) have to because you are living the reality of the mess. You can’t dodge it. Let’s hope your example, albeit rendered posthumously, is contagious.
We want to repeat several statements from above because of their significance. Unregulated government activity in any major section of the economy is inherently flawed. “A race to the bottom.” “A colossal, devastating failure.” Give Geithner credit. Read his assessment. Demand this accountability from all the millions of government employees.
Tuesday, March 23, 2010
Canaries in the Coal Mine
Canaries were placed in mines because they detected poisonous gases and passed out before the miners succumbed. So the miners watched the canaries and got the heck out fast if the canaries were dropping. The three headlines cited below are early warning indicators. Few will heed them. Those that do will prevail. The parenthetical comments are quick summaries of the issue as presented by TheFundamentals.
Virginia prepares to oppose national health mandatory purchases (Tenth Amendment issue)
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/10/AR2010031003908.html
Moody’s warns about US debt rating (Deficits = Debt = Destruction syndrome)
http://www.nytimes.com/2010/03/16/business/global/16rating.html
Texas moves to include conservative doctrine and “founding fathers principles” in school curriculum (State differentiation issue)
http://www.nytimes.com/2010/03/13/education/13texas.htmlhttp://www.nytimes.com/2010/03/13/education/13texas.html
For those who believe in simple fundamentals such as “live within your means,” “no such thing as a free lunch,” “save for a rainy day,” limit your debts and pay them off as soon as possible” and “be charitable to those less fortunate,” what are we to do? No, we are not going to get serious reduction of government spending from Sacramento, CA or Albany, NY or Springfield, IL. Charlie Rangel and Nancy Pelosi and Dennis Kucinich are not going to hold a news conference and announce support for loser pays litigation rules or right to work laws for federal employees. But there are states that realize that their economic freedoms which are the basis for their personal freedoms are significantly under their own state control and these smaller entities are much more likely to embrace financial responsibility and reject the special interest and fiscal promiscuity that now dominates the largest of the states. And these states, states like Virginia and Texas, and hopefully yours, are embracing the simple concept of recognizing that business and labor and education and health care providers need to compete to win; not be protected to be comfortable. The unions that run Springfield and Albany and Sacramento have seduced the politicians of those states into a curious suicidal mission guaranteeing second, third and even lower places for their citizens so that their relatively small number of beneficiaries getting public paychecks, benefits and pensions and the relatively small number of other protected insiders have a comfortable, cushy existence. In the old Soviet Union these beneficiaries were know as apparatchiks. The apparatchiks of Albany, Springfield and Sacramento are ignoring the canaries in the mine. TheFundamentals is betting that more states will embrace a positive and open approach to competition. These folks are paying attention to the canaries. This is not rocket science. But just watch the laggards in Sacramento, Albany and Springfield howl as they slip further behind the winners. Watch them run to Washington and kneel before their gods distributing largesse, rules, protection and handouts. The evolving America is not going to look like a national politicians dream. It will much more resemble an economic version of an athletic contest. The winners will standout and they will have embraced TheFundamentals.
One more canary reference. Americans are ready to be led out of this deficits = debt = destruction syndrome. Will that leader arise? The people are way ahead of the politicians on this change. Will the people sustain and persist? Some think not. They are ignoring this large canary. We're betting on the people.
Virginia prepares to oppose national health mandatory purchases (Tenth Amendment issue)
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/10/AR2010031003908.html
Moody’s warns about US debt rating (Deficits = Debt = Destruction syndrome)
http://www.nytimes.com/2010/03/16/business/global/16rating.html
Texas moves to include conservative doctrine and “founding fathers principles” in school curriculum (State differentiation issue)
http://www.nytimes.com/2010/03/13/education/13texas.htmlhttp://www.nytimes.com/2010/03/13/education/13texas.html
For those who believe in simple fundamentals such as “live within your means,” “no such thing as a free lunch,” “save for a rainy day,” limit your debts and pay them off as soon as possible” and “be charitable to those less fortunate,” what are we to do? No, we are not going to get serious reduction of government spending from Sacramento, CA or Albany, NY or Springfield, IL. Charlie Rangel and Nancy Pelosi and Dennis Kucinich are not going to hold a news conference and announce support for loser pays litigation rules or right to work laws for federal employees. But there are states that realize that their economic freedoms which are the basis for their personal freedoms are significantly under their own state control and these smaller entities are much more likely to embrace financial responsibility and reject the special interest and fiscal promiscuity that now dominates the largest of the states. And these states, states like Virginia and Texas, and hopefully yours, are embracing the simple concept of recognizing that business and labor and education and health care providers need to compete to win; not be protected to be comfortable. The unions that run Springfield and Albany and Sacramento have seduced the politicians of those states into a curious suicidal mission guaranteeing second, third and even lower places for their citizens so that their relatively small number of beneficiaries getting public paychecks, benefits and pensions and the relatively small number of other protected insiders have a comfortable, cushy existence. In the old Soviet Union these beneficiaries were know as apparatchiks. The apparatchiks of Albany, Springfield and Sacramento are ignoring the canaries in the mine. TheFundamentals is betting that more states will embrace a positive and open approach to competition. These folks are paying attention to the canaries. This is not rocket science. But just watch the laggards in Sacramento, Albany and Springfield howl as they slip further behind the winners. Watch them run to Washington and kneel before their gods distributing largesse, rules, protection and handouts. The evolving America is not going to look like a national politicians dream. It will much more resemble an economic version of an athletic contest. The winners will standout and they will have embraced TheFundamentals.
One more canary reference. Americans are ready to be led out of this deficits = debt = destruction syndrome. Will that leader arise? The people are way ahead of the politicians on this change. Will the people sustain and persist? Some think not. They are ignoring this large canary. We're betting on the people.
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