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PROOF KEYNESIAN STIMULUS FAILS
$5 Trillion in Four Years Buys Only “Grand Illusion”
By Wayne Jett © April 22, 2013
Since 2009, the U. S. has borrowed and spent $5 Trillion –
$42,500 on behalf of every household in the nation – to produce
economic recovery, and has failed to achieve it. A suggestion four years
ago that each household should borrow and spend that much new debt
would have been called, at best, ill advised. This being so, the federal
government doing the equivalent on our behalf has been both destructive
and unpardonable. Complete text here.
GOVERNMENT POWER AND YOU
Lessons from Cyprus and the Homeland
By Wayne Jett © March 30, 2013
Cyprus teaches the
wisdom of limits on government power. Lucky for Americans, Framers of
the U. S. Constitution understood this and wrote into the Bill of Rights
specific things the government is prohibited from doing. But words on
paper cannot restrain governments. Only daily, vigorous actions to
protect and extend human liberty can do so. Otherwise, governments will
grind into dust every claim of right made by aliens or its own citizens. Complete text here.
OUR MOST URGENT CRISIS
War on Weather Is Really Against Us
By Wayne Jett © December 10, 2012
Despite the season, for those unaware, this news cannot wait. Agents
with U. S. government authority are using chemical and electronic
weapons of mass destruction against America – poisoning the air, soil,
food and life itself. Millions of tons of metallic aerosols are being
sprayed into our upper atmosphere, then coupled with powerful electronic
beams, under the thin disguise of “geo-engineering” – weather control –
bringing drought, famine, disease and death. This assault on nature
already has raised an imminent threat of climate change so radical as to
end life on major portions of the planet. Those spraying, apparently
aware of the threat, are doubling down. Complete text here.
ABOUT “THE DUST BOWL”
Historical and Economic Misconceptions
By Wayne Jett © November 20, 2012
PBS’s documentary called “The Dust Bowl” directed by Ken Burns and
produced by Burns and others deserves commendation for telling an
historically pivotal story through the faces, words and scenes of the
epic itself. The families, ordeals and outcomes of real people project
honesty and reality in ways not often achieved by expert commentary or
fictional accounts. But “The Dust Bowl” presents a thesis that severe
dust storms and poverty in the southern plains during the 1930s resulted
primarily from abuse of nature by ignorant and greedy farmers. This
involves serious misconceptions. Complete text here.
CHOOSE ECONOMIC RECOVERY
Turn Out Elitists Who Destroy Prosperity
By Wayne Jett © November 1, 2012
dreams came true with the arrival of Hurricane Sandy in the populous U.
S. East Coast. Natural disasters, economist John Maynard Keynes advised,
are stimulants of economic growth. He saw wars and pharoahs’ make-work
projects like pyramids as economic stimulus, too.
Sandy is just what the U. S. needs at this miserable time, right? If
only Sandy had blown ashore in 2009, by Keynes thinking, the U. S. could
have saved $5 trillion in deficit spending blown instead. Complete text here.
Do you recall an economist advising that the Federal Reserve should
not manipulate interest rates? If you do, you are rare, as is that
economist. Radio, television and print media define “serious economist”
as one who endorses interest rate manipulation as the primary instrument
of U. S. monetary policy. But no serious economist can accept that
premise as valid. Complete text here.
Winnowing Imposters is Easy Call
By Wayne Jett © October 2, 2012
$480 BILLION ANNUAL DIRECT TAX ON SAVINGS
The Federal Reserve announces its intent to create $40 billion
monthly at the expense of existing savings and pay it to the big banks
for mortgage-backed securities. This outrageous looting evokes what
response? Applause, of course, and a little intellectual hand-wringing
gives just the right tint of fair debate. Complete text here.
Federal Reserve Goes All In for its Owners
By Wayne Jett © September 14, 2012
RE-THINKING OBAMA AND “2016”
D'Souza Errs in Two Conclusions
By Wayne Jett © August 27, 2012
The documentary film “2016” provides insights into early influences on
Barack Obama and how they affect the U. S. president’s agenda. But
author and co-director Dinesh D’Souza errs in two basic conclusions
expressed about his subject. Obama is not an anti-colonialist, and his
agenda is not a socialist America in the image of Europe. On each count,
Barack Obama’s aim is markedly different, and worse, than D’Souza
portrays. Complete text here.
A GOLD STANDARD THAT WORKS
Monetary Misconduct Worsens Fiscal Plight
By Wayne Jett © July 31, 2012
A large gold hoard in the U. S. Treasury is unnecessary for a return
to dollars with value reliably anchored in gold. Markets monitor the
dollar’s value in gold moment-to-moment, and the Federal Reserve or
(better yet) Treasury can adjust the supply of dollars so their value
remains rock solid. This will leave prices of goods and services to be
set by the markets, inflation-free, based on supply and demand.
only things “lost” would be the Fed’s discretion to create trillions of
dollars at will to bail out big banks or to lend to Treasury for
deficit spending. In other words, a new gold standard would be a
win-win-win outcome – ending inflation, bank bailouts and excessive
budget deficits. Complete text here.
BIG BANKS RIG LIBOR
Federal Reserve and Bank of England In On It
By Wayne Jett © July 11, 2012
This just in: LIBOR, the most watched and used benchmark interest
rate in the world, is rigged by big banks. So are bids for large
deposits of bond funds by local and state governments in the U. S. –
again by big banks. So can we finally dispose of the old Wall Street
shibboleth that conspiracies absolutely do not exist in the U. S.
financial sector? Complete text here.
EXPLAINING THE GREAT DEPRESSION
The Wall Street Journal
marked the recent passing of economist Anna J. Schwartz at age 96 by
republishing an October, 2008, interview and report of her contributions
during a productive career spanning 70 years. In the 2008 interview,
Ms. Schwartz emphasized the classical principle that markets must be
permitted to punish mistakes if economies are to prosper. Complete text here.
Simply, Factually and Clearly
By Wayne Jett © July 5, 2012
CHIEF JUSTICE SELLS OUT
Roberts Joins Four Elitists to Impose ObamaCare
By Wayne Jett © June 28, 2012
Benedict Arnold committed no greater betrayal of Americans than has his
21st Century counterpart: John Roberts. Arnold abused his appointed
position of trust in General Washington’s Revolutionary Army by scheming
to hand over West Point to British Redcoats. Chief Justice Roberts
joined the ranks of traitors to the cause of individual liberty, turned
his back on all who supported his appointments to the Supreme Court and
as Chief Justice, and stripped away hard-won political rights of
ordinary Americans. Elitists now control access to health care and can rule from above as they please. Complete text here.
BIG BANKS “BIG BANG” SCHEME
America, Not Banks, Set to Blow Up
By Wayne Jett © June 9, 2012
Why on earth would giant banks like J. P. Morgan Chase “invest”
hundreds of trillions of dollars in derivative securities? Ordinary
price volatility, it would seem, could wipe out those banks overnight.
In a forehead-slapping moment, the answer becomes clear. Effects on
America and the world are both diabolical and catastrophic.
In April, 2011, Classical Capital asked here
“is the Federal Reserve selling Treasury puts?” Despite this foreboding
alarm, the light did not shine far enough ahead to explain the
seemingly irrational conduct of the Wall Street’s big banks. Until now. Complete text here.
$5 TRILLION TAX HIKE
Thanks to President, Congress, Federal Reserve
By Wayne Jett © May 27, 2012
The federal budget deficit is $5 trillion this year – not the mere
$1.3 trillion we’ve been told by the president and Congress. USA Today
says so. This is a tax hike of $5 trillion, or $50 trillion if they do
the same each year for ten years. Oh, yes, it is a tax hike. The money
must be collected from taxpayers. Congress and President Obama are just
waiting for someone else to tell taxpayers how much and when to pay. If
you now get it that deficit spending mandates increased tax collections,
then there’s more news, and its worse. Complete text here.
CHAIRMAN BERNANKE, DEBATE ME
Let the Public Decide Who is Right
By Wayne Jett © April 24, 2012
Federal Reserve Board chairman Ben Bernanke, let’s debate the topics
on which you lectured students of George Washington University. Your
office may lead some to believe what you tell them is valid. If so, they
are misled in important respects. Complete text here.
PRESIDENT OBAMA – MENTOR AND TEACHER
Things We Learned Last Week
By Wayne Jett © April 12, 2012
President Obama told a press conference the Supreme Court should stand
aside when Congress has enacted a law with broad support. He said court
intervention in this democratic process would be “unprecedented.” On
March 26, Obama confided to Russian president Medvedev that he (Obama)
would have more flexibility in negotiating a nuclear arms treaty after
the November election, when he wouldn’t have to campaign for office
again. This informed the public in two important ways, neither of which
has been noted by other commentators. Complete text here.
MR. SMITH GOES TO … THE TIMES
Lost Faith in Goldman Sachs “Culture”
By Wayne Jett © March 20, 2012
A young executive resigned from Goldman Sachs, the giant
international investment bank, after 12 years during which he advanced
to head U. S. equity sales to Europe, the Middle East and Africa. Having
starred in the bank’s recruitment of new talent, Greg Smith concluded
the firm culture no longer placed its clients’ interests above
maximizing its own profits. Complete text here.
GASOLINE PRODUCTION SCUTTLED
Oil Refineries Closed After Fire-sales
By Wayne Jett © March 11, 2012
Gasoline prices hit historic highs as America languished in winter depression. During the week ended March 2, demand for gasoline
ran about 7.8% lower than a year earlier, its worst performance so far
in the so-called “recovery.” Gas prices at the pump, however, made historic highs in many locations, far above $4 per gallon. Do principles of supply and demand no longer apply in U. S. markets? Complete text here.
WALL STREET CREATURES EMERGE
Trump Picks Mitt, Threatens Split
By Wayne Jett © February 14, 2012
The U. S. economy is collapsing, not recovering. Gasoline use has
dropped off a cliff, and is presently lower than in 1983 – the year the
nation emerged from its worst recession since the Great Depression, and
U. S. population was only 73% of the current level. Do not believe
Pollyanna’s numbers on unemployment or GDP growth. The ruling elite will
not allow economic recovery in 2012, not even for a presidential
election. Complete text here.
COMMON SENSE SURVIVES
Elitists Remain Intent on Destruction
By Wayne Jett © January 24, 2012
On Monday, a caller to Rush Limbaugh’s radio show identified himself
as a 48-year-old black man, a Democrat and a truck driver. More
importantly, he distinguished himself as one who trusts the power of his
own mind to distinguish fact from fiction, truth from lies, and right
from wrong. Reliance on common sense is the foundation for humanity’s
claims to individual liberty, dignity and opportunity. This is why
common sense is presently, and always has been, under savage assault by
those who aspire to be our rulers. Complete text here.
UNDER AMERICA’S RULERS
Defending Only the Defensible
By Wayne Jett © January 19, 2012
Capitalism under attack in America is nothing new. In 1880, the
best-selling economics book ever declared that “the power of a vast and
dominant pecuniary interest … in every country … writes laws and molds
thoughts [based on] elaborate fallacies and misleading theories.” A
century later, the widely revered economist Milton Friedman credited the
book’s author for “the least bad tax” ever designed.
to the point, Henry George’s Progress and Poverty was an able and
eloquent defense of capitalism and free markets. So, then, what was the
“vast and dominant pecuniary interest” about which he warned us? Complete text here.
GLOBAL “NEW REPUBLIC” ARRIVES
End of National Democracies at Hand
By Wayne Jett © January 4, 2012
Good news is hard to find, especially good news which is credible. One possible source is Robert A. Mundell, professor of economics at Columbia University, who was chronicled here as entitled to credit for such economic growth policies as were adopted in the U. S. during the past 50 years. Complete text here.
THE END OF REASON
And Why “Utterly Irrational” is Dangerous
Wayne Jett © December 17, 2011
America is occupied by ruling elite who have captured enormous amounts of capital by defrauding financial markets and monopolizing business. Leveraging their giant pools of loot, the ruling elite dominate federal government policy. They hand down policy from above and see it adopted and enacted into law by executive and legislative officials, regardless of views and interests of the popular electorate. Complete text here.
HENRY PAULSON’S COVER SLIPS
Source Reveals Plot Against Fannie, Freddie
Wayne Jett © November 30, 2011
Another ray of light just fell on former Treasury secretary Henry
Paulson Jr.’s role in the financial destruction of 2008, otherwise known
as “the eight-months-long October Surprise.” Bloomberg News
reports Paulson convened a secret meeting (undisclosed to President
George W. Bush, or the public, or mentioned by Paulson in his recent
book) on July 21, 2008, the very day Fannie Mae and Freddie Mac gained shelter from illegal naked short selling
under an emergency order of the Securities & Exchange Commission.
The meeting of about a dozen major hedge fund managers was held in the
Manhattan offices of a hedge fund, and Paulson told those attending
something extraordinary. Complete text here.
OBAMA AND THE RULING ELITE
Why He is Willing to Lose in 2012
Wayne Jett © November 21, 2011
Barack Obama does not worry about winning his 2012 campaign for
re-election. His campaign will be propelled, as in 2008, by big money
from the ruling elite. If he wins, fine. He will continue providing a
governmental platform for his sponsors to loot financial markets and
taxpayer funds, and to swing the class warfare hammer at the middle
class, especially the upper middle class (the people he calls “those of
us who are better off”).
If he loses, Obama will be elevated into the pantheon of global
aristocrats who serve the ruling elite well. He has delivered for them
as few other U. S. presidents have. Complete text here.
BIG RELIGION TAKES STAND
With Dominant Elite, Of Course
Wayne Jett © November 2, 2011
The moral gulf between Vatican and Church of England was once so vast
troops might have moved across borders. Now, in the wink of a week, they
have acted towards the global financial disaster as if of a single
mind. To declare solidarity with common humanity, you ask? They do so in
rhetorical flourishes, of course, but the thrusts of their actions advance an entirely different agenda. Complete text here.
SEISMIC SHIFT IN WORLDVIEW
Orthodoxy Wrecks Western Civilization
Wayne Jett © October 25, 2011
The American dream seemed to work for a while after World War II. “The
deal” was: study hard, get a good education, and productive employment
will provide the path to prosperity. But that panned out for only one
generation. By the early ‘70s, the deal was on shifting sands. Now the
deal is in quicksand and, instead of buying it, Americans young and old
ask “what’s the deal?” Complete text here.
MIDDLE CLASS MUST HAVE CAPITALISM
Mercantilism is the Enemy
Wayne Jett © October 17, 2011
Those protesting Wall Street oligarchs and those protesting Big
Government spending have much more in common than even they think. They
are all middle class who worry their prospects are suffering, although
they propose conflicting political solutions and rhetorically attack
each other. Each must awaken to this fact: their common oppressor is
mercantilism – not capitalism. Complete text here.
AHEAD: WORST FINANCIAL CRISIS EVER
Bank of England Governor Speaks
Wayne Jett © October 10, 2011
If you think economic recovery is proceeding, though slowly, you are
badly misled. Readers here have long known that government policies put
the U. S. into economic depression and continue to make the crisis
worse. The Bank of England now confirms this is closer to understatement
than hyperbole. Reality approaches even those marginally affected to
date. Complete text here.
Taxation Without Representation
Wayne Jett © October 6, 2011
Mercantilists have played the protectionism card since before the onset
of the Dark Ages. In so doing, they seek monopolies in domestic markets
– not jobs for workers. Jobs are destroyed – not created – by
protectionism. Dollar devaluation is trade war by means more subtle than
tariffs. The U. S. has waged trade war by monetary policy ruthlessly
since 1971, destroying jobs both here and abroad, to assist the dominant
elite in looting capital and gathering power. Complete text here.
OCCUPY WALL STREET?
Get Real, Get Informed, Get Political
By Wayne Jett © October 3, 2011
Young people demanding justice on Wall Street are akin to shepherds
fasting outside the wolves’ den while demanding a promise their sheep
will not be bothered again. The objective is commendable but the plan of
action is sadly lacking. To have any chance of success against
international bankers, the American middle class and poor (Left and
Right) must overcome elitist domination of their respective political
parties. Complete text here.
WHO ROBS AMERICA’S YOUNG?
No Jobs, No Homes, No Children, No Future
By Wayne Jett © September 25, 2011
Familiarize yourself with the expression “man-made depression.” It
refers to an economic depression resulting from actions carefully
designed and taken to cause it. That is how depressions come about in
the real world. They are neither delivered by a stork nor leaked into
society through a flaw in the way markets work, as the myth of good
intentions often applied to culpable public officials would have us
believe. The Great Depression of the Thirties was man-made, as is the
one Americans presently experience. Complete text here.
NEW WORLD ORDER(S) HIGHER TAXES
Class Warfare Hikes U. S. Taxes in Europe
By Wayne Jett © September 19, 2011
Imagine the U. S. has a Treasury secretary (Europe calls them “finance
ministers”) who does the bidding of a powerful, private cabal (the ones
who control the central banks), which seeks to rule the world with a
single government. What if this Treasury secretary flies to Europe and
tells a meeting of finance ministers the U. S. will increase its
contributions to the International Monetary Fund by a factor of, say,
ten, to show solidarity with debt-ridden governments who will be aided
by the IMF? Does that action effectively enslave Americans with high
taxation forever? Complete text here.
OBAMA IS THE NEW F.D.R.
Boding Ill for America
By Wayne Jett © September 8, 2011
Barack Obama was in good company choosing Martha’s Vineyard for another
elitist-fested vacation as the nation sank further into economic
depression. Franklin Delano Roosevelt took an extended Caribbean cruise
on Vincent Astor’s yacht in early 1933 and spent quality time with
Rockefeller men from the beginning of his years in office. Like F.D.R.
75 years ago, Obama’s personal ebullience indicates a U. S. president
whose true economic agenda is precisely on track. Read complete text here.
THE REPUBLIC IS USURPED
By Wayne Jett © August 4, 2011
Ben Franklin said the Constitutional Convention had given the nation “a
republic, if you can keep it.” Alas, we have failed. Aristocrats (now
called “oligarchs” because they have accumulated so much looted capital)
dominate Congress with money poured into pockets of party leaders. They
dominate the executive and judicial branches and elite media by much
the same means. Republican democracy is a faint image of honest
representation of popular interests. The dominant elite are focused upon
using debt to bring about collapse of U. S. constitutional government. Complete text here.