Lot’s of thoughts to pass along today from the headlines of our times and times past…..
If the Individual mandate is held to be constitutional then we truly will have passed from a system of limited government to a parliamentary type system. In upheld then any future Congress can simply state that a new law is being passed because the activity is deemed part of interstate commerce and pass anything they want. There will be no limits as we originally intended with our Constitution. In parliamentary systems that is the way things work. The majority party can pass anything it likes and that is the law, period unless and until it is repealed or modified by a later parliament. I personally like the idea of the Federal government having clear boundaries on its authority over us. If this is upheld they could easily decide that only 5 banks were going to be allowed to operate in the future and that everyone would be required to get a debit card from one of them and use them for all purchases. They have power over the banks already and spending your money certainly affects interstate commerce and of course the federal demographers, Census bureau, Labor department and the FBI and Homeland Security would love to have a clear track record of everything you buy. Give it some thought. Is that the kind of government you want? Even if they didn’t do it would you want the Feds to have that power?
Per the Federal Reserve it bought 61% of all the Treasury issues last year. That is troubling and should concern us all. The artificially low rates do to the Fed purchases distort and hide the true cost of our national debt. Bernancke talks about the real demand for our debt in the markets. The facts belie that statement. That fact also denies his constant assertion that the Fed is not monetizing the deficits each year. You do understand that when the Fed buys those Treasury notes they simply print up the money to do it; it is created out of whole clothe and does not represent a real increase in economic worth of our country. It helps the federal government keep the cost of borrowing low for a while. But even supporters of this action realize it can’t go on forever. Sooner or later the “markets” will demand much higher rates for lending us money or the inflation dragon will begin to breathe real fire. There is no strong demand world-wide for US debt or the Feds wouldn’t have to “buy” so much of it with their printing press. As the political season progresses we need to pay attention to the deficits and the total debt and the real cost when we have to start paying market rates for our debt which will add hundreds of billions annually to our deficit.
Don’t rest on your oars yet about the Greek debt crisis. The latest polls indicate that the parties that just signed and agreed to the EU bailout are in real danger of losing the elections scheduled in the next few weeks. The opposition is vehemently opposed to the bailout and the austerity called for under it. If they do win then the odds dramatically that Greece will exit the Eurozone voluntarily or involuntarily. There will be chaos again because of the fear that Portugal, Spain or Italy might be next. Of course the Germans might sooner or later simply throw up their hands and say to hell with all of them. Watch your stock portfolio carefully the next few months. The fat lady may have sung on the last bailout but someone might be writing a new Act to the opera.
The incident with the Jetblue pilot is a sad story. You have to feel for him and his family for the mental torment he is obviously enduring. The passengers must have been rightly terrified during the entire incident. Glad all ended well and hope that man recovers his balance.
During the 5th and 6th centuries what were considered heretical sects of Christianity by the Catholic Church spread across much of the mid east and even into India and China. Little known fact but they had monasteries and priests, the whole shebang. Indeed about a 100o years later when the Portuguese came to Gao off the coast of India they were surprised to find many there who were “Christian”. Of course they didn’t recognize the Pope in Rome so conflict became the rule of the day in that region. They imprisoned many of the leaders and brought rule from Rome. However the Nestorians as they were called endured until the Dutch replaced the Portuguese and they rose up against the Portuguese and re-established they connection to their “bishop” who held sway over that Christian sect from Baghdad.
The peach buds have popped out already but it is that time of year. Seven or eight weeks from now we will have fresh peaches for a couple of weeks to adorn the vanilla ice cream or to do a cobbler. Assuming the lady of the house deigns to do a cobbler.
Are you aware that the EPA has “cops” to enforce its laws and rules? I mean they have badges and carry guns and are authorized to arrest people and shoot them. I mean why else do they carry guns? Its one thing for the FBI do have this authority but the list of other government agencies that allow federal cops to use force to compel compliance with Federal rules is troubling to me. I didn’t know they had police force til just the other day. If environment laws have been violated them let the issues citations and impose fines but arresting people under threat of being shot? I don’t think so. Let real cops enforce our criminal laws.
On the relationship of government and man–“A ploughman on his legs is higher than a gentleman on his knees.” Ben Franklin www.olcranky.wordpress.com