I want to thank everyone for all of your hard work during the bailout fight. Although the vote was a disappointing reflection on the House of Representatives, we should take great encouragement in the fact that we came together as one and shocked the media and the DC establishment these past weeks.
Now that the vote is over, we must proceed to the next step: keeping our promises to hold Congress accountable.
Posted by Thomas Woods on 10/10/08 Last updated 10/10/08
Watch this. Just watch this. (My favorite part: What should
the G7 do? The leaders should go down to the bar and have a
drink, and leave the rest of us alone.) Thanks to the LRC blog. ;
In yet another example of blowback, the people of Pakistan are rising up against their "pro-US" government because of the United States' recent missile strikes near the Pakistani border.
Posted by Don Rasmussen on 10/10/08 Last updated 10/10/08
There has been so much attention on credit markets and stocks that the plunging price of oil has been under-reported. The fact that oil has gone from a high of $143 to a low of $78 as of this writing represents key shifts in the calculus and realities of OPN's (oil producing nations). Many OPN's have been drunk on oil revenues much the way the US has been drunk on credit.
This wouldn't be a problem as they could shift down on spending to reflect the new price, but they are not dependent on current revenues to pay for current expenditures. Instead, they are heavily leveraged borrowers who have collateralized future oil revenues in the form of high-interest loans. This is particularly acute in the "Bolivarian" republics: Venezuela, Bolivia, and Ecuador. All have been borrowing heavily against future earnings to finance socialist domestic programs and nationalized industries. The sudden drop in price means that the chance that they will be unable to service the debt on that borrowing is only going to grow.
The potential outcome is a massive printing of money/issuing of government credit which will lead to inflation and political instability. Keep a very close eye on oil prices and how OPN’s respond. We all have a lot riding on it.
Posted by Don Rasmussen on 10/09/08 Last updated 10/09/08
Despite the bailout, the rate cut, and the interventions, the world markets continue to fall fast. Please share your thoughts, concerns and questions below.
Posted by Don Rasmussen on 10/09/08 Last updated 10/09/08
That's the question that Tech Republican wants to know after Dr. Paul once again shocked the political establishment with one of his patented "money bombs." This time for North Carolina congressional candidate B.J. Lawson. The one day surge of donations was aimed at raising $200,000 for Lawson's robust challenge to long-time incumbant and bailout villain David Price. The effort raised more than $250,000. Lawson has been a principled and articulate voice against the criminal bailout.
The Ron Paul Money Machine Bombs a Republican Congressional Candidate Posted by David All Thu, 2008-10-09 13:10
On October 7, former Republican Presidential candidate Ron Paul sent an email to his list urging financial support for Republican candidate B.J. Lawson (N.C.-4). The result has been an influx of hundreds of thousands of dollars for the campaign.
He is also an adjunct scholar at the Mises Institute (check out his Daily Article archives here), and a frequent contributor to LewRockwell.com (archives here)
For those of you in the DC metro area, the Leadership Institute (based out of Arlington, Va.) will be holding a Grassroots GOTV (Get Out the Vote) Workshop on Oct. 14th. at 6 pm.
From the description on their site:
"The Grassroots Get-Out-The-Vote (GOTV) Workshop teaches you how to plan your GOTV strategies and implement effective voter contact and 72-hour programs.
The GOTV workshop highlights the basics of effective voter contact and teaches high-impact political technology which cuts through the useless theories. This training equips you to run an organized, no-surprises campaign, culminating with a top-notch GOTV Election Day effort."
For more information, including registration details, visit their site here.
To promote and defend the great American principles of individual liberty, constitutional government, sound money, free markets, and a noninterventionist foreign policy, by means of educational and political activity.
