The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

HEY OBAMA REALITY CHECK: DOW UP 40 POINTS IN PAST MONTH – UP 18% PAST 5 YEARS – UP 44% PAST 10 YEARS

Posted by iusbvision on September 20, 2008

Matt Drudge gave us this little reminder today of just how sound our markets are. There has never been a 25 year period where the market would not have given diversified investors a market gain, and that includes the time of the great depression.

When politicians use this crisis to scare you and say don’t invest and don’t allow partial privatization of Social Security, it is important to keep in mind that these very same politicians are getting rich off the markets. Those who were smart and diversified properly.

Speaking of a partially private retirement plan, the Congress has one for itself called the government Thrift Savings Plan. Here is the web site for it. http://www.tsp.gov/

The Thrift Savings Plan has done very well as an investment vehicle and still does. So if it is good enough for Congress to use, why isn’t it good enough for Social Security?

Remember that the reason Fannie, Freddie and Lehman Brothers went down is because of “crony capitalism” and influence peddling. If the people involved just did their duty none of these things would have happened. As we have shown politicians were paid off big time to help lean on federal regulators to look the other way. 

This influence peddling scandal, which may cost the taxpayer over a trillion dollars, makes Enron, Global Crossing, oil company profits, and the theft of $26 billion from the UN Oil for Food Program look like a drop in the bucket, because money wise they are and they had hearings and investigations and all of it. Yet no calls for hearings, no calls for a special prosecutor in the biggest financial swindle in world history and why??…because several powerful Democrats, and a few Republicans got rich off of this scam. The problem isn’t capitalism folks, the problem is corruption, mostly in Congress.

Never forget that Barack Obama got huge money from these people.

DOW UP 40 POINTS IN PAST MONTH – UP 18% PAST 5 YEARS – UP 44% PAST 10 YEARS

Here is the lastest Obama ad on Social Security, and it is a deception.

Keep in mind that the idea was to take 1-2% of people’s contributions and give them a diversified private account to supplement social security and help PRE-FUND their retirement, much like Congress’s own Thrift Savings Plan does. So it wasn’t total privatization as the ad implies and social security would not have been cut in half. As the system stands right now it does not create wealth, so Social Security is going broke. Obama’s plan is to just raise taxes, but since Congress has raided Social Security funds in the past, if they raise taxes in the name of Social Security, do you actually believe they wont spend that money too?

A great deal of Obama’s ads and attacks on McCain are demagogic and deceptive just like this one. People really need to take a long hard and serious look at this man, because the elite media just isn’t.

 

Rupert Murdoch, who was a Hillary supporter, has this to say about Obama’s economic plan:

“I am very worried,” Murdoch said during an interview Friday with Fox Business Network. “I like Sen. Obama very much. I have met him. He is a very intelligent man. But his policy of anti-globalization, protectionism, is going to be — and card checks — are going to do two or three things. It’s going to give us a lot of inflation. They’re going to ruin our relationships with the rest of the world. And they are going to slow down the rest of the world, too. And they’re going to make people frightened to add to employment. You are going to find companies leaving this country if it’s — if you put a protectionist wall around it. You’re going to get — his policy is really very, very naive, old-fashioned, 1960s.”

http://www.thrfeed.com/2008/09/murdoch-obamas.html

It is Jimmy Carter’s economic plan all over again, as we have said here before. It is too bad that most college students do not remember how bad those days were.

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