From The Mailbox - My Reply - Something I Believe

Dreams, Environment, From The Mail Box, Just Me, Relationships, Religion, Wisdom No Comments

I get a lot of email (not just junk mail - we all get that, gmail is very good about filtering that out).  I spend hours daily going thru my mail and am never able to read it all.  Most recently I have started to receive email from people wishing to convert me to Christian (once they discover I am not) and Muslim.  I even get email from one individual who wants us all to believe that the Catholic Church is really evil.  While he does offer a lot of factual news articles, well, I’m sorry.  While it may be true that one church might be better or worse than others, or one religion worse or better than others, it is not my place to judge this and I won’t go there, I find such things a waste of my productive time and because he has no option to unsubscribe from his list, I will have to add him to my spam list.

To you who are religious like myself but might belong to a religion unlike me, feel free to share, it’s ok, I’m curious, I like to learn, and even to evangelize may be apart of your religion and that’s ok too, I don’t mind, but be careful not to try to convince me that you have the corner on truth, I assure you, YOU DON’T.

****

I have read the bible, I have also read all the Gnostic scriptures, the teachings of Confucius, the Hopi legends, Jewish Apocrypha not included in the bible and about half of the Koran.  Next I plan to tackle the book of the dead, Egyptian scriptures. “All Scripture is breathed out by God and profitable for teaching, for reproof , for correction, and for training in righteousness,”

**** - You should not say that my testimony or beliefs cannot be found in the bible.  I can remember being told that the Catholic’s teaching about purgatory was not scriptural and that’s what I told a Catholic Priest one day who was happy to show it to me in the bible.

The KKK uses scriptures to justify their actions and the early settlers actually quoted scriptures as they were throwing Indians into the fire.  Hitler was scriptural too and so was Bush in his decision in attacking Iraq.

You see, you can make that bible say almost anything you want, you just have to find the right scriptures.

But I’m not going to waste my time or yours throwing scriptures back and forth trying to prove something.  Because the real word of God is in the heart not on a piece of paper.

You ask your heart, was we all born on this earth to die and go to hell unless we are saved?  If you tell me that your heart agrees with that, then I think you’re lying to me or you have manipulated you’re own heart to accept beliefs that it could not.

With all due respect, that usually
happens when a person follows hearsay, what was heard
in church rather than what was read in God’s word.

****, you didn’t read my testimony.  But I’ll tell you what, I’ll shorten it for you.

For the longest time I searched for salvation, I joined several churches, been baptized a couple times. I was looking for truth or true salvation.  I spent many years, Pentecostal, Bible Churches, Catholic and the last was Mormon.  One day I woke up and asked myself, who condemned me?  Who made me believe that if I wasn’t saved I would go to hell, that’s nuts. What kind of God would create something just to send it to hell?  So I discarded all of my beliefs and started over and I studied all the major religions and decided that Gnosticism was the most true and it was then that I had this dream:

THE DREAM

With out question, thought or prayer
For no reason what-so-ever I had this dream one night
I saw nothing, but only heard a voice
A voice that was both male and female.
“It is true that the body is made by the false god
But the false god also creates the soul
This continues to happen
But God takes you and makes you unto himself
As if you were a ball of clay
And makes you His own
This process takes time.”
I woke up

**** - To understand this dream a little more you’d have to have an understanding of Gnosticism.  But no matter, because this dream is actually saying that Gnosticism is wrong.  And you know what, I don’t know a single religion that believes what’s in that dream, and you know something else, I don’t know of any religion that teaches that we came from heaven (that’s in my testimony) except Mormonism.  But they teach that you can’t remember, but I do remember.

So I have my beliefs that I didn’t just make up nor did anybody teach them to me and I’m all alone without a church or religion, but you know what, I don’t care.  And I’m not going to try to prove to you or anybody else my beliefs, because I don’t have to, I don’t doubt what I believe.

Like you, my father believed I was being deceived and I disowned him because of it and he died shortly after and I felt a little bad about it.  But you know my dad did a lot of bad things in his lifetime.  You know what, he never said he was sorry.  Two words “I’m sorry.”  would have fixed a whole lot of hurt, but he believed he didn’t have to because conveniently Jesus died for his sins so he didn’t have to.  I think he will discover that he was mistaken.  I figure he will be sent down here again to try it again to see if he gets it right, and that don’t mean to live a perfect life, but say “I’m sorry.”

So now that you know a little bit more about what I believe, you can believe it to or disbelieve it, that’s up to you.  But you are not going to make me disbelieve what I believe even if I’m the only person in the world who believes it.

Sincerely,

Roger

*******************************

So what do I know. I know that salvation is a process and that I’m not going to hell and that’s all I know.

So what is the true God and the false god and does the life and death of Jesus have anything to do with this process, I DON’T KNOW!

So I don’t know a lot and have lots of questions, I do have some ideas and let me explain here and now, religion is faith in things unseen, things that cannot be proven, or unproven, so all you people who spend your days trying to disprove or prove religion, it disappoints me that I live in a world that is so ignorant - but good luck with that, you who have so little faith that you must defend it and you who have no faith and must justify it.  You both have much to learn.  Learn to be confident in your own beliefs rather than steal your confidence from the destruction of others, this is disappointing.

But I will share this one idea I do have, as I believe it does have the backing of logic. I believe that the God that created the earth, the birds, trees, flowers, the fish and the bees and all other living things on this earth is not the same god who created us. And this is why I believe this. All other life is a part of a natural order that sustains each other on this earth maintaining this earth for a very long time. However, we are different. We go against the natural order on this earth and may very well be someday it’s destruction. We create great things like no other animal on this earth and some scriptures actually refer to us as gods. Some have argued with me that we are just like all the other animals on this earth and while I think that is a very nice idea, they miss the obvious and do not recognize how we are so much different than all the other animals on this earth. That being said, that’s what I believe and if you wish to discuss this with me further, you are more than welcome.

From The Mailbox - Now You Can Take Action To Prevent Another Stolen Election

ACTION ITEM, From The Mail Box No Comments

PROTEST AGAINST MACHINE, OTHER SHORTAGES

No More Stolen Elections! has been carefully monitoring the potential ballot and capacity shortages that voters will encounter when they arrive at the polls on November 4th.  TrueVote.us, one of our coalition partners, is working with us to allow you to simply go to their site and quickly send a message to the election officials of states where we already know this will be a problem.

In 2004 tens of thousands of voters were denied their right to vote in Ohio when election officials provided inadequate voting machines in African American communities.  Some people waited in line to vote for longer than 12 hours.  Many thousands of others gave up and did not vote.  This alone may have been enough to change the outcome of the 2004 election.

Well, it’s happening again. A recent report indicated that college-age and African American precincts in Florida, Michigan, Nevada, Ohio, Pennsylvania and Virginia will not have sufficient numbers of voting machines or election staff to handle the number of voters expected on Election Day.

What you can do:

Help us to let these officials know that tens of thousands of people are watching their actions and documenting what occurs on Election Day. Some of us have already written to them (click here to read about it). Even if you do not live in these states it is important for these officials to hear from you. They need to know they will be held accountable for their actions.

Click and send a letter to the governor, congressional delegation (House and Senate), the secretary of state as well as election administrators where questions have been raised about the adequacy of the number of voting machines and staff.

Click here to take action now.

From The Mail Box - Islamic Banks Are Strong and Once Again I remember a dream

Dreams, From The Mail Box, Just Me, News No Comments

From The Mailbox - Salina sends:

Islamic Finance appeal growing in face of credit crisis

The global credit crisis presents the $1 trillion Islamic finance industry with an opportunity to expand its appeal beyond Muslim investors, as a haven from speculative excess.

The message may have particular resonance in the West after the crumbling of the U.S. mortgage market left banks holding hundreds of billions of dollars of nearly worthless credit instruments tied to home loans by a web of complex structures.

While conventional banks worldwide are nursing losses of more than $400 billion from the credit crisis, Islamic banks are virtually unscathed. And they are playing up the contrast to scalded shareholders, bondholders and borrowers and fearful depositors.

“It’s very much a return to old-fashioned conservative lending,” said David Testa, chief executive of Gatehouse Bank, which began operations in April as the fifth Islamic bank in Britain.

“The current global market condition has given Islamic finance a great opportunity to show what it can do - help to fill the liquidity gap,” he said.

Investors traumatized by the credit crisis could seek comfort from the stricter rules imposed on lending by Islamic law, which bans some of the structures and financing methods that quickly unraveled during the U.S. mortgage crisis.

Testa said that Islamic finance practices were more fiscally conservative, with direct participation by investors in plans that do not involve parking assets in off-balance-sheet vehicles.

Islamic finance is based on Shariah, or Islamic law. It requires that gains be derived from ethical and socially responsible investments and discourages interest-based banking and investments in sectors like pork, gambling and pornography.

The Asian Development Bank estimates that Islamic assets globally have a combined value of about $1 trillion, with annual growth of 10 percent to 15 percent a year. Al-Rajhi Bank of Saudi Arabia and Kuwait Finance House are the two biggest Islamic banks in the Gulf region. In Malaysia, the largest Islamic lender is Maybank Islamic, a subsidiary of Malayan Banking.

The jump in popularity of Islamic finance is drawing the interest of companies outside the Middle East.

City Developments, one of the largest developers in Southeast Asia, said last week that it could issue Islamic debt and sell hotels to enhance its ability to make acquisitions.

The Islamic finance industry, which was nearly nonexistent 30 years ago, has certain distinguishing features that make it less risky, analysts say.

Islamic bonds, or sukuk, replace coupons with payments backed by the performance of tangible assets. Islamic law prohibits the payment of interest and requires transactions to be linked to assets, thus deterring the kind of complexities prevalent in conventional financing operations.

Debashis Dey, the Dubai-based head of capital markets at the law firm Clifford Chance, said that although the Islamic finance industry was adapting conventional products to make them compliant with Shariah, it was a long way from sophisticated products like collateralized debt obligations.

But while Islamic products are coming into favor, analysts say market commentators and intermediaries may be too zealous in promoting the merits of Islamic finance as a safe product.

Mohamed Damak of Standard & Poor’s cited the case of the boom in real estate financing in the Gulf mainly by Islamic banks in the past three years, amid soaring property prices.

“A correction of the real estate sector would impact Islamic banks involved in this business line. Islamic finance is not immune from risk,” he said.

Even as experts are weighing the degree of insularity that Islamic financing provides, there are differences in the way accounts are prepared and in how Shariah law is interpreted.

Banks in Britain differ in their accounting operations from banks in Bahrain, for example, which in turn differ from banks in Malaysia and Indonesia.

Dey, at Clifford Chance, said the lack of standardization posed a hurdle to growth, but others said that a cookie-cutter approach was not desirable and that regional differences would remain.

“Complete standardization may not happen - there will always be variants,” said Raj Maiden, managing director at Five Pillars in Singapore, who added that it was more important to tailor products according to the needs of each market.

While the debate rages on whether Islamic finance provides a safer bet or is merely a potential source of irrational exuberance, most agree the industry should make the most of the attention it is now receiving.

“If Islamic banks step up to the mark, then they will gain traction,” said Testa, of Gatehouse.

Source: International Herald Tribune
http://www.islamicity.com/articles/Articles.asp?ref=IH0810-3694

********************************
My Two Cents:
http://forum.khurram.ca/viewtopic.php?t=489
Posted: Mon 12 Jun 2006 1:04 pm Post subject: The Answer is Buried Under The Ice of Antarctica

I had a dream last night that I was a part of a crew employed by the government to uncover a structure under the ice of Antarctica that would contain the answer, led by a recently discovered prophesy that led the government and policy.

There is prophesy if Isreal excepted Jesus and there is prophesy if Isreal did not except Jesus and that was the key that led us to believe in this prophesy that took us to Antarctica, thus the reason for global warming.

The law required that you submit to the doctors treatment (I’m guessing we were ill from the global warming).

The alarm went off before I could find out what the answer was we were trying to uncover.

Strange dream. Last meeting I had with the mormon missionarys, I was explaining that I felt that the church had cracks in it (one major crack was its silence on global warming).

Is this dream in response to that, or just a creation of my mind to find peace with this - don’t really know. But because I remember this dream so vividly, it must be important.

From The Mail Box - Joseph Stiglitz Blames Financial Crises on Iraq War

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From Claudia:

Joseph Stiglitz won the Noble Prize and he was president of the World Bank.

He has two simple messages:

1. The Iraq War will cost the US $3 TRILLION (minimum)

2. The war is one of the chief causes behind the destruction of the US (and the world’s) banking system.

This interview was recorded back in April, long before the seriousness of the banking problems were apparent and long before the multi-trillion dollar bailouts.
See video below…

http://www.brasschecktv.com/page/442.html

From The Mail Box - News From Citizens For Legitimate Government

From The Mail Box, News No Comments
EXCERPS FROM:
08 Oct 2008
All items are here:

AIG Gets More Government Bailout Cash 08 Oct 2008 Only one day after it was revealed that AIG had sprung for a $440,000 spa vacation shortly after getting an $84 billion government-loan bailout comes this report: The government is loaning AIG another $38 billion. AIG, the world’s largest insurer, said it has already drawn down $61 billion on its $84 billion line of credit from the government.

AIG Spa Trip Fuels Fury on Hill –Lawmakers Blast Them About Bonuses 08 Oct 2008 For some people at AIG, the insurance giant rescued last month with an $85 billion federal bailout, the good times keep rolling. Joseph Cassano, the financial products manager whose complex investments led to American International Group’s near collapse, is receiving $1 million a month in consulting fees. Former chief executive Martin J. Sullivan, whose three-year tenure coincided with much of the company’s ill-fated risk-taking, is receiving a $5 million performance bonus. Last week, about 70 of the company’s top performers were rewarded with a week-long stay at the luxury St. Regis Resort in Monarch Beach, Calif., where they ran up a tab of $440,000.

Predatory Lenders’ Partner in Crime –How the Bush Administration Stopped the States From Stepping In to Help Consumers By Eliot Spitzer 14 Feb 2008 Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders… Even though predatory lending was becoming a national problem, the Bush administration looked the other way and did nothing to protect American homeowners. In fact, the government chose instead to align itself with the banks that were victimizing consumers. Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, I joined with colleagues in the other 49 states in attempting to fill the void left by the federal government.

***************************

AP: Documents say US detainee, held as ‘enemy combatant,’ near insanity 07 Oct 2008 A U.S. military officer warned Pentagon officials that an American prisoner was being driven nearly insane by months of punishing isolation and sensory deprivation in a U.S. military brig, according to documents obtained by The Associated Press. The documents shed new light on how two American citizens and a legal U.S. resident were treated in military jails inside the United States. The Bush administration ordered the men to be held in military jails as “enemy combatants” for years of interrogations without criminal charges, which would not have been allowed in civilian jails. The men were interrogated by the CIA and Defense Intelligence Agency, repeatedly denied access to attorneys and mail from home and contact with anyone other than guards and their interrogators.

Thousands of Troops Are Deployed on U.S. Streets Ready to Carry Out “Crowd Control” By Naomi Wolf 08 Oct 2008 I interviewed Vietnam veteran, retired U.S. Air Force Colonel and patriot David Antoon for clarification… “If the President directs the First Brigade to arrest a bunch of voters, what would stop him?” “Nothing. It would end up in courts but the action would have been taken.” “If the President directs the First Brigade to kill civilians, what would stop him?” “Nothing.” “What would prevent him from sending the First Brigade to arrest the editor of the Washington Post?” “Nothing. He could do what he did in Iraq — send a tank down a street in Washington and fire a shell into the Washington Post as they did into Al Jazeera, and claim they were firing at something else.

From The Mail Box - What Kind of Amazing

From The Mail Box, Music, Poem, Wisdom No Comments

Country sent this to me with a big hug

It comes from http://www.sharedvoice.org/

From The Mailbox - Kucinich and the bailout

From The Mail Box, Wisdom No Comments

 

Dennis Kucinich - www.Kucinich.us

The Bailout and What’s Next

Dear Friend,

Yesterday marked a day that will go down in history, when Congressional Democrats and Republicans alike took on full responsibility to protect the interests of taxpaying Americans, and defeated the deceptive bail out bill, defying the dictates of the Administration, the House Majority Leadership, the House Minority Leadership and the special interests on Wall Street.

Obviously Congress must consider quickly another course. There are immediate issues which demand attention and responsible action by the Congress so that the taxpayers, their assets, and their futures are protected.

We MUST do something to protect millions of Americans whose homes, bank deposits, investments, and pensions are at risk in a financial system that has become seriously corrupted. We are told that we must stabilize markets in order for the people to be protected. I think we need to protect peoples’ homes, bank deposits, investments, and pensions, to order to stabilize the market.

We cannot delay taking action. But the action must benefit all Americans, not just a privileged few. Otherwise, more plans will fail, and the financial security of everyone will be at risk.

The $700 billion bailout would have added to our existing unbearable load of national debt, trade deficits, and the cost of paying for the war. It would have been a disaster for the American public and the government for decades and maybe even centuries to come.

To be sure, there are many different reasons why people voted against the bailout. The legislation did not regard in any meaningful way the plight of millions of Americans who are about to lose their homes.  It did nothing to strengthen existing regulatory structures or impose new ones at the Securities and Exchange Commission and the Federal Reserve in order to protect investors. There were no direct protections for bank depositors. There was nothing to stop further speculation, which is what brought us into this mess in the first place.

This was a bailout for some firms (and investors) on Wall Street, with the idea that in doing so there would be certain, unspecified, general benefits to the economy.

This is a perfect time to open a broader discussion about our financial system, especially our monetary system. Such a discussion is like searching for a needle in a haystack, and then, upon finding it, discussing its qualities at great length. Let me briefly describe the haystack instead.

Here is a very quick explanation of the $700 billion bailout within the context of the mechanics of our monetary and banking system:

The taxpayers loan money to the banks. But the taxpayers do not have the money. So we have to borrow it from the banks to give it back to the banks. But the banks do not have the money to loan to the government. So they create it into existence (through a mechanism called fractional reserve) and then loan it to us, at interest, so we can then give it back to them.

Confused?

This is the system. This is the standard mechanism used to expand the money supply on a daily basis not a special one designed only for the “$700 billion” transaction. People will explain this to you in many different ways, but this is what it comes down to.

The banks needed Congress’ approval. Of course in this topsy turvy world, it is the banks which set the terms of the money they are borrowing from the taxpayers. And what do we get for this transaction? Long term debt enslavement of our country. We get to pay back to the banks trillions of dollars ($700 billion with compounded interest) and the banks give us their bad debt which they cull from everywhere in the world.

Who could turn down a deal like this? I did.

The globalization of the debt puts the United States in the position that in order to repay the money that we borrow from the banks (for the banks) we could be forced to accept International Monetary Fund dictates which involve cutting health, social security benefits and all other social spending in addition to reducing wages and exploiting our natural resources. This inevitably leads to a loss of economic, social and political freedom.

Under the failed $700 billion bailout plan, Wall Street’s profits are Wall Street’s profits and Wall Street’s losses are the taxpayers’ losses. Profits are capitalized. Losses are socialized.

We are at a teachable moment on matters of money and finance. In the coming days and weeks, I will share with you thoughts about what can be done to take us not just in a new direction, but in a new direction which is just.

Thank you,

 
Dennis 
www.Kucinich.us
216-252-9000   877-933-6647

PS Watch the 47 minute ‘Money as Debt’ animated documentary in http://video.google.com/videoplay?docid=-9050474362583451279. This is a useful, though by no means definitive, introduction to the topic of debt and the monetary system. Let me know what you think.


Paid for by the Re-Elect Congressman Kucinich Committee

PO Box 110475 | Cleveland | OH | 44111 | 216-252-9000

 

 

From The Mail Box - Obama vs McCain

From The Mail Box, Politics No Comments

Timbre’ Wolf Sends Me This:

OBAMA

Iraq: Wants to keep at least 85,000 troops in Iraq to protect “US interests”

Foreign Affairs: Might NOT nuke Iran.

Homeland Security: Would NOT repeal the Patriot Act, the Military Commissions Act or any other “Security” provisions. Would NOT reinstate the Bill of Rights.

Immigration: Supports a fence along Mexican border. Experts assert that a fence would be an ecological disaster. Need I say more?

Economy: Supports more corporate tax breaks.

Education: Supports more Federal programs (money) for public education and college. This would, of course, translate to more government oversight/ involvment (and they’ve done such a good job in the past!).

Energy: Gives lipstick service to “renewable energy” but endorses “clean coal,” nuclear power, and automakers who build . . . let me see, GAS BURNING CARS. But he does want to give more support for renewable energies, and wants to give automakers help with health coverage in exchange for more hybrid production. But wait . . . he wants universal health care anyway.

Climate Change: Believes in anthropogenic causes of global warming.

Health: Supports universal health care, and believes government should buy prescription drugs in bulk to reduce costs.

Social Security: Believes in it.

Stem Cell Research: Supports embryonic stem-cell research

Same Sex Marriage: Does not support same-sex marriage but endorses “civil unions.”

Abortion: Pro-choice

Gun Control: Supports bans for weapons used for sudden, violent onslaught

McCain

Iraq: Wants to “win.” “USA! USA! USA!”

Foreign Affairs: Might nuke Iran. “Bomb, bomb, bomb . . . bomb, bomb, Iran”

Homeland Security: Supports Patriot Act and wants intelligence officials to have all tools they need. Opposes detaining enemy combatants without legal rights. Would not reinstate the Bill of Rights.

Immigration: Supports tightening current border patrol.

Economy: Supports more corporate tax breaks.

Education: Supports sending federal dollars directly to local schools.

Energy: Gives “lipstick on a pig” service to alt energy but wants much more nuclear power and “clean coal.”

Climate Change: Believes in anthropogenic causes of global warming. But his running mate doesn’t care about that because Alaska is already too damn cold.

Health: Supports importing prescription drugs from Canada, Mexico, and France to lower costs. Ok, I must confess he didn’t actually say WHERE we should get the drugs.

Social Security: Believes in it.

Stem Cell Research: Supports embryonic stem-cell research

Same Sex Marriage: Opposes same-sex marriage (believes it’s a state issue)

Abortion: Neither pro nor con: thinks that states should decide.

Gun Control: Supports background checks for citizens.

From The Mail Box - TED

From The Mail Box, Politics, Relationships, Religion, Wisdom No Comments

Chris sends this:

I don’t know how many of you are familiar with TED. It’s an amazing conference held every year with world thinkers and doers. They’ve been putting their talks online for a little while. This one might help you in reaching out to conservative voters. At least help you understand their mindset.

Chris

Jonathan Haidt: The real difference between liberals and conservatives (19 minutes)
http://www.ted.com/index.php/talks/jonathan_haidt_on_the_moral_mind.html

Psychologist Jonathan Haidt studies the five moral values that form the basis of our political choices, whether we’re left, right or center. In this eye-opening talk, he pinpoints the moral values that liberals and conservatives tend to honor most.

My two cents:  In my younger years I was a liberal and when I grew up I became a conservative, now I’m WHATEVER.

From The Mail Box - Borrowed Money and Borrowed Time

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My wife sent this to me:
http://www.financialsense.com/stormwatch/geo/analysis.html

False Values, False Economy,
and the Devil to Pay

by J. R. Nyquist

Weekly Column Published: 09.26.2008

Print

Our wretched economy of false valuations cannot continue much longer. It is the domestic counterpart of President Bush’s past friendship falsewith Vladimir Putin. It is the fantasy world of an everlasting bull market and “successful” government bailouts. The political leadership in America has demonstrated that it doesn’t understand economics. They cannot solve the present crisis unless they go back to school and consult the wisdom they have so long neglected. They have built their post- Cold War world on a false boom, on false “partnerships” with enemies. They have pe rmitted a policy of credit expansion without end.

“Credit expansion,” wrote the Austrian economist Ludwig von Mises, “is the governments’ foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods … and to make everybody prosperous.” But everyone cannot be prosperous. The boom created by credit expansion cannot last. This is what the leaders of the United States have missed. “The inescapable consequences of credit expansion,” wrote Mises, “are shown by the theory of the trade cycle. Even those economists who still refuse to acknowledge the correctness of the … credit theory of the cyclical fluctuations of business have never dared to question the conclusiveness and irrefutability of what this theory asserts with regard to the necessary effects of credit expansion.”

And what are these effects?

According to Ludwig von Mises, an upswing occasioned by credit expansion can only be maintained by further credit expansion; and, in the long run, “it turns into depression when the further progress of credit expansion stops.” This outcome is absolutely certain and today’s financial crisis underscores the point. The economic boom of recent years has been propelled forward by an unprecedented credit expansion. At each turn, when the market was threatened with contraction, further credit expansion was urged.

The magic wand of credit expansion is like heroin addiction. The more you take, the more you want. The day inevitably comes when you cannot increase the dosage because you run short of supply. And so it is with credit expansion. The markets are accustomed to easy money. They now require easier and easier money. They are addicted. Eventually, however, they must suffer the symptoms of withdrawal.

Did we think this expansion could continue forever without consequence? Evidently we did not consider where we would end up. And now, at last, the United States Government believes it can fill the hunger for credit through a coordinated push – the last gasp of our insatiable credit addicts. President Bush offers a plan. Behind closed doors he reportedly said, “This sucker could go down.” Once again, the president’s grammar is in error. The sucker in question will go down.

Every dollar poured into the proposed rescue operation will be lost. Buying toxic debt is not a solution. The proposed mechanism for rescuing the economy represents a new falsification of values – and a new twisting of the market. The dollar cannot possibly survive this new initiative. A $700 billion bailout is only the beginning. It is merely a foretaste. What we see in Washington is an exercise in self deception. It is the self deception of a country that does not see danger, of a country that ignores the wisdom of ancestors and the ABCs of economics.

They want a booming economy. What they’ve failed to consider is the false nature of the boom thereby engendered. False values, false ideas and promises of false prosperity pepper the program of today’s politicians. They have no business at the helm of a great country. Their leadership consists in pitiful ignorance, and the republic may be in its last days. There has been a shocking willingness to destroy the country’s currency. “If the government does not care how far foreign exchange rates may rise, it can for some time continue to cling to credit expansion,” Mises explained. “But one day the crack-up boom will annihilate its monetary system.”

The proposed plan to save the markets will save nothing. The proposed solution is no solution. Improper investments have been made and massive losses must result. We have to take our medicine before we can get better. Debasing our already debased currency makes things worse. We have avoided economic pain by a continuous expansion of credit. The artificial boom must come to an end. False values must pass away so that real values can be brought to the fore.

Few realize how destructive the boom has been; for the real damage is done by the regime of false values and our collective investment in those values. “The boom is called good business,” noted Mises, “prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.” The latter, however, is the period of healing and correction.

The real magic of economics is learning to accept correction. This is what we refuse to do. The country’s financial managers set a terrible example. Traditionally, the captain goes down with his ship. As the Titanic sinks today our financiers don’t want to be rescued in a lifeboat. They want to be rescued in a yacht. They don’t want to accept that wars and depressions are necessary because human nature craves fantasy. The bubble of false peace and false prosperity necessarily bursts. In the end, reality must be confronted.

“People rebel against the insight that the disturbing element is to be seen in the malinvestment and overconsumption of the boom period,” wrote Mises. The curious fact is, noted the Austrian: “If we apply this yardstick to the various phases of the cyclical fluctuations of business, we must call the boom retrogression and the depression progress. The boom squanders through malinvestment scarce factors of production and reduces the stock available through overconsumption; its alleged blessings are paid for by impoverishment. The depression, on the other hand, is the way back to a state of affairs in which all factors of production are employed for the best possible satisfaction of the most urgent needs of the consumers.”

If the state is to do anything constructive during the “progressive” period of depression, it is to maintain the country’s nuclear deterrent and preserve national unity. There is no doubt that America will shortly be forced to call its troops home and close its overseas bases. The financial situation is going to dictate international withdrawal. It is going to dictate a more modest government. But the politicians in Washington cling to the notion that the boom can continue, that their false approach to the international situation is viable. The United States cannot save the world. It will be fortunate to save itself. President Bush’s proposed bailout is not simply a socialist measure. It is an attempt to avoid a return to correct valuations. It is an ignorant attempt, in effect, to extend the damage that has already been done.

Our politicians want to give us easy money, a furtherance of the shopping mall regime. They believe this will prevent millions from losing their jobs. They believe that their proposed measures will save ailing banks. Prosperity would then continue. “This reasoning seems plausible,” wrote Mises. “Nonetheless it is utterly wrong.” The boom has made prices and wages too high. Demand has lost all sense of supply. The consumer is accustomed to getting whatever he wants, even though he cannot afford it. In order to put matters right, wages must fall, consumption must be restricted, wasteful practices must come to an end.

“There is no use in interfering by means of a new credit expansion,” wrote Mises. “This would at best only interrupt, disturb, and prolong the curative process of the depression, if not bring about a new boom with all its inevitable consequences.” When Bill O’Reilly says that the disaster is too great, that despite his support for the free market he sees no alternative to the government bailout plan, he is denying the healing power of a depression. He is denying the fundamental lesson of economics. The damage to the economic system has already occurred during the period of false prosperity.

As strange as it seems, financial crash and depression are needful. We must pass through a time of troubles. There is no other way to correct the regime of false values. The problem, of course, has become political. The regime is a political system in which the economically ignorant call the tune. The magnitude of the disaster is thereby amplified. The political actors now put the political system at risk. Because there are national security implications, they now put our very lives at risk.

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I remember Ross Perot explaining this same thing to us and we didn’t listen. When I was a truck driver, talking to another trucker, he was boasting how Clinton had made things so much better, but I reminded him of what Ross Perot had explained and told him it wouldn’t last. The stock market cannot keep going up, eventually it has to come down. We keep delaying the inevitable so that when we have no other choice but to accept a stock market crash, it will be big. But if we would have simply excepted an economy where the stock market remains the same, it would be ok. But we’re living off of borrowed money and borrowed time. Those who are in the know on this are going to keep their money to themselves and sacrifice the rest of us.


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