Email | Twitter
Last night, Bill Clinton gave his Obama-nominating DNC speech. Don't be surprised if you see a headline today stating that some in the audience fainted (Michael Jackson style) from extreme adoration. The 50 minute speech was loaded with goodies for government-lovers of all ages.
Let's parse some of it:
Willy describes Obama as:
"A man who believes we can build a new American Dream economy driven by innovation and creativity, education and cooperation."Innovation, Creativity, Education and Cooperation are all elements of liberty. There's no need for a monolithic and monopolistic government. In fact, government force squashes all of them.
Leonard Read described it perfectly: "...liberty is not something we design and construct but, instead, is a felicitous situation in which people find themselves once authoritarianism is abandoned."
Clinton moves on and gives a shout out to Mussolini:
"We Democrats think the country works better with a strong middle class, real opportunities for poor people to work their way into it and a relentless focus on the future, with business and government working together to promote growth and broadly shared prosperity."Mussolini loved the idea of business and government working together. He organized industries into State-supervised trade associations.
Guess what Mussolini called them?
Yes, a variation of the same word that Clinton used above: "cooperation."
The speech continues:
"It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics..."Interesting.
Clinton wants government to partner with certain businesses and create equal opportunity.
Remember this when your business must compete with a large "too big to fail" who has the politicians in its pocket.
A free market straightens this stuff out. You live and die by satisfying customers. Even a conglomerate could be gone tomorrow should market conditions change. Whether your business is large or small, if you fail to satisfy the consumer, the market will punish you equally as hard.
I'm sure Clinton wasn't worried about his contradiction. The watery-eyed audience surely wouldn't put these thoughts together.
Let's move on:
"Unfortunately, the faction that now dominates the Republican Party doesn't see it that way. They think government is the enemy, and compromise is weakness."Republicans believe government is the enemy?
I'm sure there were Republicans sitting at home watching and shouting at the TV: "What?? How dare he??"
Republicans are a part of the government. They love war, subsidies, bailouts, crony capitalism, and the Fed.
Democrats, of course, love these things too...the differences are merely cosmetic.
Willy then enlightens us about Obama's superpowers:
"He inherited a deeply damaged economy, put a floor under the crash, began the long hard road to recovery, and laid the foundation for a modern, more well-balanced economy that will produce millions of good new jobs, vibrant new businesses, and lots of new wealth for the innovators."The only truth in that statement is "He inherited a deeply damaged economy."
It was the Fed that put an artificial floor under the crash, and by doing so, ensured that not even a toe has been put on the road to recovery.
"I know many Americans are still angry and frustrated with the economy. Though employment is growing, banks are beginning to lend and even housing prices are picking up a bit, too many people don't feel it."I'll tell you what people do feel...higher prices and bills.
And it isn't comforting knowing that banks are starting to lend money created by the Fed. It means even higher bills are on the way.
Savings and Capital are the bedrock and foundation of a healthy economy. Banks lending funny money is the kryptonite.
"People ask me all the time how we delivered four surplus budgets. What new ideas did we bring? I always give a one-word answer: arithmetic."Here's another version:
Beginning in 1994, during the Mexican Crisis, Fed Chairman Alan Greenspan unleashed what would be the greatest money-printing spectacle that the world had ever seen.
Remember the dot-com Nasdaq bubble?
Those were the Clinton years.
But Clinton decided to throw the word "arithmetic" out to the obsequious audience. Why pay attention to The Maestro behind the curtain?
"My fellow Americans, you have to decide what kind of country you want to live in. If you want a you're on your own, winner take all society you should support the Republican ticket."We should be lucky enough for Republicans (and Democrats) to leave us alone.
Clinton finishes with a statement that you can comfortably bet against:
"I love our country – and I know we're coming back. For more than 200 years, through every crisis, we've always come out stronger than we went in."Ok...He (and his other half) love the country as it is.
But the U.S. has not come out stronger through every crisis. It has come out weaker.
It has come with government scrambling for just one more rabbit to pull out of the hat.
Each crisis has been marked by an increase in government power, and a decrease in the soundness of the money.
The former survives as long as the latter does. The trouble for government is, the latter is climbing into its death bed.