November 10, 2010

Lickety-Split Links (111010, Morning)

Filed under: Lucid Links — Tom @ 8:30 am

From Monty Pelerin at American Thinker (“Bernanke’s Cowardice Has Sealed Our Fate”) –

Bernanke indicated that from 600 to 850 billion additional dollars would be created. To put this in perspective, the TARP package was in this range. The total Federal Reserve balance sheet was $829 billion at the end of 2004 and only $869 billion in August 2007. At the end of 2009, it had ballooned to over $2,200 billion. This announcement means it is headed to $3,000 billion (3 trillion).

… Mr. Bernanke was faced with two choices, neither of which were good. He could have refused to initiate another round of QE, which would have forced the government to make tough decisions. Such action might have put the economy into another Great Depression. He likely would have lost his job and been blamed for any economic difficulties that followed.

He chose the other option — provide the needed funds. As such, he chose to be the Enabler-in-Chief, reinforcing the out-of-control government fiscal policies.

In what would have been a true “Profiles in Courage” moment, George W. Bush could have stopped all of this before it started in September 2008. He didn’t.

In the past 60 days or so, Ben Bernanke could have stopped the collective lunacy. He didn’t. Now he’s part of it.

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At the UK Daily Mail (HT Pamela Geller at American Thinker) — “Airports accused of keeping queues long so they can cash in on £5 fast-track lanes.”

Pamela’s sadly accurate reax: “It’s just the next stage of the West’s ongoing Operation Fetal Position.”

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At Pajamas Media“Massive Voting Fraud Reported in Massachusetts.” Just read the whole thing. Representative government may be lost in the Cradle of Liberty.

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Oklahoma’s not seasonally adjusted unemployment rate was 6.5% in September. That’s down from 6.7% in September 2009.

It’s been a bit more than three years since the Sooner State passed strict immigration enforcement legislation, known as “1804.” The state’s unemployment rate declined while the rest of the country’s was going up in 2008, and has stayed 3% or so below the national rate since then.

As I said six months ago: “If ’1804′ isn’t the reason Oklahoma has vastly outperformed most of the rest of the country, someone will have to try to explain what is” — and it’s not oil.

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2 Comments

  1. Speaking of voter fraud, there is a story going around that Dick Bluementhal (IMHO, the worst senator out of all those who were running this year) may have been elected due to illegals voting. Not sure if that is true or not, but I wouldn’t be surprised.

    The airport story needs proof. I don’t just immediately accept “greed” accusations against business anymore. I do agree with the sentiments of Pams piece, though. The real threat to freedom was never Bush or the Patriot Act, but political correctness, liberal weakness and blind tolerance. By the way, Pam says that Bush was against the creation of the TSA. Is that accurate?

    As for Bernanke, I understand the tough situation he is in, but the idea that without QE we would have a Great Depression is a tad ludicrous. He should have just said no, instead of playing chicken little.

    Comment by zf — November 10, 2010 @ 11:11 am

  2. #1, I think airport security is governnent-run in the UK. If so, it’s government greed on display.

    Comment by TBlumer — November 10, 2010 @ 11:13 am

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