Leftist Media Forced to Admit that Economy is not going into Recession

If you knew anything about economics you already knew this. Like a typical far left tactic, this little pipe dream of theirs fell far, far short. A recession occurs when two quarters of negative growth occurs. I laughed every time I heard ABC, CNN, NBC, etc go out and tell the general public not only would one occur, but that we were ALREADY in one...which was a ridiculous lie. We had positive growth last quarter. We weren't in a recession. Now they are admitting that just because for the first time since Clinton left office and handed over a recession to the current administration, we weren't seeing such large percentages of growth, that doesn't mean that a recession is going to happen. I can hear the lefties now, "DRAT! We needed that narrative for the elections." Yea, well, you can only lie so long before people do some research and verify that, yes, the left wing was using their typical scare tactics....and lying...again. Expect the narrative to change for them as soon as they figure out which element of fear and insecurity will work best for them.

-Caomhin

Investors Fear a Democrat Victory

Indeed, Wall Street is worried about the upcoming elections. Though the article unfairly takes some swipes at Gov. Huckabee for being "a loose canon" and comparing him in some regards to, ugh, John Edwards (which is incredibly unfair to any human being), it underscores a point that most people with any level of economics already knows: Democrats will hurt the economy. Arguments will come from the left that the 90s saw unprecedented growth, which, indeed it did, under the supervision of a Republican Congress, who was able to overcome many of the shortcomings of Bill Clinton. The economy is taking a beating in the liberal media, as I suppose they figure that if they can't lie to the American public about Iraq anymore, the economy should be the next target. We are no where near a recession, we have not had a single quarter of negative GDP growth and will not have one this quarter either. It's a lie.

The Congressional Democrats are all protectionist, tax loving, economy killing Liberals who will most certainly cause a recession unlike anything seen before if a Democrat is election President. Yes, it will be worse than Jimmy Carter's time in office. This batch of Democrats don't even have morals, let alone any shame, and their policies will nearly cripple businesses as they scramble to readjust. I know the prospects for a Democratic Congress are very likely, which is why this presidential election is so immensely important. We need someone in their who can wield a veto pen like crazy, and I believe our batch of candidates will be willing and able to do so. As taxes increase, it is we, the electorate who will feel the burden, as the cost of the tax increases will be passed along to us. The bottom line in capitalism is profits and industries will not simply take a loss when Congress slaps them with taxes in addition to personal tax raises. The industries will in turn, reflect these tax increases in the prices that we pay for our goods, thus causing the inflation tax. Additionally, taking hostile steps against the world community by threatening tariffs and isolationism, will not bode well for American products or the strength of our dollar and reflect no confidence in American manufacturing products, skills, et al. Incredibly, the Democrats villanize companies and the profits they make and demand that their profits fall and that the revenues are shifted to the government, not individuals mind you, all in the name of helping the average person without actually helping the average person. It is outrageous that all the while ravaging the free market and corporations, that the Democrats are so horribly dishonest or stupid as to not realize that pensions are a dinosaur and that our retirement funding is only as dependable as our 401(k)s and not Social Security, which they have horribly mismanaged for decades. Indeed, when corporations do well, we ALL do well, since our retirement portfolios, at minimum, increase over time. The Liberal system promotes an economic slavery of sorts, one in which they boo-hoo the power of the individuals to keep their own money and grow it in the free market with security in the 401(k), and attempt to strip us all of the ability and opportunity to see a windfall in the free market. The Social Security system is horribly broken and will only be "fixed" by Democrats with yet another tax hike that will lower disposable income, which lowers consumer expenditure and lower the value of the market. I could write scores of volumes on these issues, but I suppose it's best to stop here for now.

I'll conclude this post with some samples from the article for your reading pleasure:

"None of the Democratic candidates would give me any confidence in the economy because we're talking protectionism, which is always, always extraordinarily bad. We're talking about tax hikes, redistribution and none of that is good," said Mark Coffelt, president of Empiric Funds in Austin, Texas.
...
Among Democrats, Edwards wants to increase the tax rate on long-term capital gains to 28 percent from 15 percent, and tax dividends as ordinary income. Obama favors a rate of between 20 percent and 28 percent on capital gains and dividends.

It should be duly noted there is no mention of Hillary Rodham Clinton in this article. I'm sure part of it has to do with her having no experience or achievements to speak of, nor any logical understanding of what an economy even is. Not even a peep of criticism. Being a MSM article though, you know who they are pulling for, so that's not hard to figure out why.

-Caomhin

Don't Do It President Bush

News broke today that President George W. Bush is considering an economic stimulus package. It's irresponsible of President Bush to implement such a plan. President Bush has been a far superior President than Clinton ever was, in every way. To do such a thing would tarnish his record. He inherited a recession from Clinton due to tax rates that were too high and over speculations in the market. To date, he has done a pretty solid job of letting the free market reign, and his tax cuts are a major reason why a recession has not started since he took office. It's basic economics that when a tax increase is implemented against what Liberals declare as their enemies, that being corporations and high income earners, the impact is directly passes onto the middle and lower classes as they simply will not absorb a tax increase. This is an inflation tax. As the cost of production rises prices rise. The rich do not feel the impact of this, the middle and lower classes, however, most certainly do feel this impact. This basic logic is lost on the Left.

Among some of the problems with the economy today is the sub-prime market, in which irresponsible lenders, and irresponsible borrowers, have cost the economy dearly. There should be no bail out, there should be no hand-out, the market should be allowed to self correct. By providing these groups with tax funds taken from every individuals' earning, all people are learning is that irresponsible behavior will be rewarded. That's not to say some hardworking, honest people are getting beaten down, but the great majority of those in this market knew exactly what they were getting into. Another reason given is that of rising gas prices. See my previous post for my take on that.

On Wednesday, the Club for Growth release a study that proves that the market under performs when Congress is in session. A so called "stimulus" package that President Bush would put forth would do far more damage than good. First, our deficit is entirely too high, a "stimulus" package would result in a larger deficit. President Bush has done a good job of shrinking the deficit since our government began to run one due to discretionary spending due to the War on Terror. Second, government spending has a very, very, very poor record on actually being effective on what it is used for. Third, Americans need more empowerment to control their own destinies rather than less.

Unless this "stimulus" package would be a drastic reduction in government spending, coupled with a slash in tax rates, it will do far more harm than good. By reducing government spending and cutting taxes, two positives will be achieved. The first positive will be a reduction in deficit spending which will strengthen our dollar. The second positive, by cutting taxes, will be positive for the American tax payer, who is grossly overburdened, and who will have more disposable income and help offset the increase in gas prices. By restoring American citizens to a higher level of income, reducing the inflation tax, and strengthening our dollar, every one will be better off. It is completely mind boggling that President Bush would even consider for a microcosm of a second to follow a plan that would pursue the exact opposite positions and more than likely plunge us into a recession, one the media, and of course, the Liberals have been hoping for just as much as they have been hoping for Iraq to be a failure (old article, as it has long been their sick hope). Hopefully, with the same resolve that President Bush resisted the Liberal love-fest for defeat in Iraq, the Economic lunacy they are seeking will be avoided and turned into a great victory for America.

-Caomhin