A High Stakes Clash of Economists

By Alan Caruba

“We need an impulse, a jolt, an acceleration…Let us experiment with boldness on such lines, even though some of the schemes may turn out to be failures, which is very likely.”

Who said that? Was it President Obama? Franklin Delano Roosevelt? Neither. It was John Maynard Keynes, a British economist. The year was 1924 and England, still struggling to recover from the cost of World War One, was trying to figure out what steps to take. The British economy was suffering from high interest rates, falling prices, and high unemployment.

Keynes’ view was that the government had to spend lots of money on public housing, better roads, and improvements to the electricity grid to get money into general circulation, stimulate the economy, and restore business confidence. The unemployed had to be given work even if it was the government not private enterprise that would provide the capital.

Keynes was already world famous because of his role as a British Treasury negotiator at the Paris Peace Conference, a precursor to the Treaty of Versailles. He had written a book, “The Economic Consequences of the Peace”, that revealed the disastrous path the treaty has set Europe upon, the beggaring of Germany and Austria that led to the rise of Hitler and World War Two.

His economic theories would eventually take his name and, ultimately, his magnum opus, “A General Theory”, would enshrine him in the pantheon of the most famed economists. Succeeding generations of economists and even politicians would call themselves Keynesians.

A quite thoroughly unknown economist, Friedrich Hayak, an Austrian who was sixteen years younger, took a far different view. While Keynes thought economics must be applied to improve the lives of people through government programs, Hayak thought that the less government interfered with the free market, the better. Indeed, the smaller the role of government, the better.

All this is told brilliantly in a new book, “Keynes Hayek: The Clash That Defined Modern Economics” ($28.95, W.W. Norton & Company) by Nicholas Wapshott, a biographer of film actors and directors, as well as political figures, Ronald Reagan and Margaret Thatcher.

While one might assume that economics had to be the driest of topics and two economists most people have never heard of, the least of interest, Wapshott pulls it off, explaining some fairly daunting theories, mixing in lots of history to the present day, and bringing Keynes and Hayek to life in a way that is very entertaining.

What emerges is the recognition that politicians, whether it was Roosevelt in the depth of the Depression years, George W. Bush with a huge financial crisis in 2007, or Barack Obama struggling with high unemployment in 2009, all tend to look for the shortest route out of their problem because they want to be reelected or vindicated for the steps they took. They all think government is the answer.

Hayek reflects the conservative view that government should get out of the way and let a recession yield to natural economic forces. History demonstrates that, without government involvement, they eventually go away in relatively short order.

Government, Hayek argued, is more likely to make a mess of the economy than fix it. He has been proven correct over and over again, but that doesn’t matter because it is politics, not economics, that drives politicians. Politicians do not want to appear to be doing nothing.

Keynes was for a hands-on government, intervening to save the economy and, he too has been proven correct as in the most recent steps both the U.S. and British governments took to literally push gobs of money out the door and into banks to keep the whole system from collapse. The problem, however, is that it was taxpayer’s money and the borrowing to replace it will saddle future generations with an enormous debt unless some austerity is imposed on government.

Always in Keynes’ enormous shadow, Hayek, late in life, was vindicated with a Nobel Prize, but even more when the Soviet Union collapsed after seventy-five years of imposing a central government that owned everything; property, the means of production, and still could not compete with free market economies.

Keynes, however, has seen his view fulfilled because most Western nations subscribe to some form of socialism with the kinds of programs that he advocated to protect everyone. Social Security and Medicare are the ultimate Keynesian legacy.

Keynes was your classic “top down” manipulator of an economy. Hayek was a “bottom up” believer in the natural energy of the entrepreneur, small business and corporate enterprise.

Neither, however, could calculate greed or fear into their theories though they surely were aware of both as factors driving or retarding an economy.

Neither could predict what any particular politician might do in their own best interest. In America, both Democrats and Republicans have proved to be big spenders since the end of World War Two.

One man who was not an economist understood how to bring down an economy. Keynes warned, “Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency.”

Americans who have watched President Obama triple our national debt to more than $14 trillion should take note before the dollar, still the benchmark currency for the world, is debauched. Too much Keynesian government spending and borrowing will do that.

That was the warning from Standard & Poor’s when it downgraded the nation’s credit rating. Hayek would have approved.

© Alan Caruba, 2011

More about → A High Stakes Clash of Economists

A Horrible Week for Global Socialism

By Alan Caruba

Over the weekend of August 6-7, the Wall Street Journal’s lead headline was “U.S. Loses Triple-A Credit Rating.”

On Monday, August 8, the Journal’s headline was “Markets Brace for Downgrade’s Toll.”

By Tuesday, August 9, it was “Downgrade Ignites a Global Sell-Off.”

On Wednesday, August 10, it was “Markets Sink Then Soar After Fed Speaks.”

Thursday, August 11, the Journal cast its eyes across the Big Pond noting that “Italy’s Woes Weigh on Europe.”

On Friday, 12, the headline said, “Stocks Swing Up in Wild Week.”

A week after the Standard & Poor’s downgrade of the U.S. credit rating from AAA to AA+, in the August 13-14 edition, the Journal took note of a “Global Crisis of Confidence”, adding that “World Policy Makers’ Inability to Agree on Fixes Led Markets on Wild Ride.”

As the new week dawned on August 15, the Journal said, “Markets Gird for Fresh Drama.”

It was a great week for dramatic headlines and a horrible week for the rest of the world. Mostly, though, it was a fulfillment of former British Prime Minister Margaret Thatcher’s observation that socialism works just fine until you run out of “other people’s money.”

That is a perfect definition of “redistribution” or, as President Obama once observed, “At some point you’ve made enough money.” A more un-American statement has rarely been uttered by an American President.

The U.S. has been engaged in a huge experiment in redistribution since the years of the Great Depression when Franklin D. Roosevelt, a man who knew absolutely nothing about running a business and who had spent most of his life living off an allowance from his mother, tried everything he could think of to get the economy going again.

FDR could have tried cutting taxes. He could have encouraged Congress to avoid voting for trade barriers in a fit of protectionism. Instead, he came up with Social Security, among an alphabet soup of government programs which were a disaster when it came to encouraging private sector job creation. Not unlike President Obama's "stimulus" and other doomed-to-fail experiments

The history of Social Security is one long succession of lies that Americans have been told. By the time Lyndon B. Johnson was President, the funds set aside for Social Security payments were moved to the general fund where they could be plundered by Congress. Under President Clinton Social Security payments began to be taxed as income.

World War Two arrived in the U.S. on December 7, 1941, and full employment followed to defeat the fascists in Germany and Japan. The government that had expanded during the FDR years continued to expand.

Americans emerged from the war without a scratch on the homeland. With the exception of Hawaii’s Pearl Harbor, none of our cities were bombed. We had a million battle-tested young men returning home in 1945, the GI bill let them go to college if they wanted, and by the 1950s we were on our way to being the greatest military power in the world and the greatest economy ever known.

And the federal government never stopped expanding. It needed more money, but the stock market, with occasional recessions, just kept growing too. As time went along, Great Britain and Western Europe rebuilt, alliances such as NATO were created to thwart the Soviet Union’s ambitions, while Eastern Europe stagnated under Soviet imposed communism.

In Asia, Japan became an economic powerhouse and South Korea too. China which had suffered under Chairman Mao waited until he died to convert its economy to a capitalist model, while retaining all the worst aspects of an Orwellian communist government. In the Middle East, oil allowed nations led by a handful of tribal chiefs and assorted despots acquire wealth beyond belief. Their populations remained oppressed. Now they are in the streets demanding freedom and justice. They will get Sharia law and more oppression.

Economies became increasingly global and interconnected. Europe became the European Union, a huge bureaucratic mess with the Euro as a common currency. Western bankers purchased Europe’s securities and vice versa. When the housing market imploded in September 2008, they discovered that most were de-linked from the original mortgage assets and were essentially worthless to the tune of billions.

The Federal Reserve responded by shipping $600 billion to prop up European central banks and Congress responded by authorizing the Treasury Department to “bail out” U.S. banks and the huge insurance company, AIG, with public funds--your money.

So what have we learned from all this? Foremost of all, socialist economies are inherently unfair and disconnected from the real world of hard work, property ownership, and capital investment. We learned that bankers are greedy and take greater risks than they should.

Great Britain, which has become one of the greatest welfare states in the world, was rewarded for its generosity with looting and rioting by youths whose families had lived on the dole their entire lives. Greece had already had its spate of riots.

Everyone keeps saying that the U.S. must not become Greece, but the U.S. has become Greece and that accounts for all those horrible headlines from last week.

The Obama administration, which has steadfastly ignored every previous “commission” that has studied the economy, has now engineered “a super committee” in Congress. It is composed of the twelve worst ideologues on either side of the economic policy divide in an effort to cut some spending, any spending! Failure has been baked into that cake.

The old way of conducting the affairs of nations, particularly their economies, is coming apart at the seams. It has exposed the hypocrisy of socialism here in the United States and everywhere else it has been practiced.

© Alan Caruba, 2011

More about → A Horrible Week for Global Socialism

Washington's Magical Thinking

By Alan Caruba

The term, “magical thinking”, has been around a while to describe what individuals do to cope with the vicissitudes of life. I, for example, regularly buy a Mega Millions lottery ticket in the hope of winning when, logically, rationally, I know the odds are millions to one of that ever happening.

Magical thinking can be found in all aspects of life and it is surely magical thinking that caused America’s politicians, starting back around the turn of the last century, to believe that a really big government could take care of everyone when, prior to that, self reliance, support from the family structure, and hard work were the early guiding principles.

Indeed, the U.S. Constitution is testimony to the Founding Father’s intense distrust of a centralized government—hence checks and balances—and the fallibility of individuals entrusted with power over others. It turns out they were right because now there is no aspect of our lives into which government does not intrude.

A lot of this can be traced to the rise of Communism, the handiwork of Karl Marx, and its adaptation into Socialism, a modified form. In 1917 Russia had Communism imposed on it during the Bolshevik Revolution as the antidote to the rule of the czars. In time it utterly failed, but few have taken a lesson from that. It wreaked havoc and death on Russians for over seventy years.

Indeed, throughout the last century, wars were required to defeat various forms of totalitarian rule. Even the Peoples Republic of China eventually embraced its own form of Capitalism while retaining power in the hands of a centralized government.

Communism is a kind of magical thinking based on collectivism that always seems to come back to a handful of men ruling by coercion.

In 1908, the Socialist Party nominated Eugene V. Debs to run for president. A dedicated unionist, Debs had studied Marxism while in jail. What he believed then is still prevalent today. “When I joined the Socialist Party,” said Debs in accepting the nomination, “I was taught that the wish of the individual was subordinate to the party will, and that when the party commanded it was my duty to obey.”

“I am not satisfied with things as they are,” said Debs, “and I know that no matter what administration is in power, even were it a Socialist administration, there will be no material change in the condition of the people until we have a new social system based upon the mutual economic interests of the people; until you and I and all of us collectively own those things that we collectively need and use.” Debs was soundly defeated.

The election of Franklin D. Roosevelt, however, brought socialism to its zenith of power in America. He remained in office from 1933 until his death in 1945. Social Security is collectivism. Medicare and Medicaid is collectivism. Government “make work” programs are collectivism.

A government that owns an auto company is collectivism. A government that can shut down oil drilling in the Gulf of Mexico is collectivism. A government that decides how much mileage the car you buy must achieve is collectivism. A government that thwarts the building of new utilities to meet the needs of a growing population and then instructs people to reduce their use of electricity is collectivism.

And a government that believes it can continue to borrow and borrow and borrow from the rest of the world to maintain sixty percent of its annual budget for “entitlement programs” is engaged in magical thinking.

It is magical thinking to believe that the same ratings organizations, Moody’s and Standard and Poor’s, should be trusted. They both granted top grades to the “government entities”, Fannie Mae and Freddie Mac, which plunged the nation into a huge financial crisis. Indeed, the rating organizations never saw the implosion of Wall Street institutions coming until billions in public funds were needed to keep a complete collapse from occurring.

Spending more to get out of debt is magical thinking and yet that is the only “plan” the Democrats and the President offer the public. A July 25 Wall Street Journal editorial, “Toying with Default”, provided an insight to this saying, “Here’s a number for the debt history books: Mr. Obama’s final offer in the Biden talks was a $2 billion cut in 2012 discretionary spending. The federal government spends more than $10 billion a day.”

At a time when European nations are imposing major austerity programs, the Republican Party is charged with having to save the nation from a Democrat Party that has reluctantly concluded that a reduction in spending is necessary and increase in taxes is not achievable..

As a nation, if we are to survive, we must disengage ourselves from a century of “progressive” programs that are not based in reality. Debts must be paid. Entitlement programs must be revised and eventually abandoned. Government must be reduced in size and scope. Private enterprise must be set free to function and thrive.

Earlier generations fought a Revolution to free ourselves from the British monarchy and parliament. Earlier generations fought a Civil War to preserve the Union. A present-day older generation of Americans fought two major wars against totalitarian governments and lesser ones in Korea, Vietnam, and most recently in Iraq.

The present generation of Americans must empower Republicans in Congress to save the nation from the errors of the past, the wild spending, and the confiscatory effort to “transform” the nation into a collectivist society that mirrors failed “progressive”, Communist and Socialist thinking and programs.

© Alan Caruba, 2011

More about → Washington's Magical Thinking

A World That's Coming Unglued

By Alan Caruba

After you’ve read history for a number of years, you begin to realize that the world goes crazy every so often. People and nations just lose their wits. It’s usually in times of great change when old truths or old ways of doing things are thrust aside by new discoveries, new technologies, or just the renewal of old pathologies.

Instances of this include the Crusades, the Industrial Revolution, and the rise of fascism in the last century.

I think we are in a comparable period, for how long or short I cannot say, but to quote from Star Wars, “There’s a disturbance in the universe” or, to be more specific, among the nations of planet Earth.

Part of the problem is the sheer size of the human population. We now number in excess of six billion and there are serious issues of how to feed all of us, ensure clean water, employment, and, of course, the provision of the energy that fuels societies dependent on electricity.

Photos from space of the Earth at night tell one everything about which parts of the Earth are enjoying the benefits of electricity and which are not.

In the past, the four horsemen of the apocalypse, war, famine, disease, and death could be counted on to keep populations in check, but advances in technology, medicine, and agriculture have tipped the balance in favor of humanity.

Beyond sheer numbers, there is the problem of profligate spending that has several European nations, as well as the United States of America, in deep financial trouble. The merry-go-round of borrowing to keep bloated budgets afloat cannot continue indefinitely despite the efforts of central bankers to do so. Merely printing money has always led to bad events from riots to wars.

The financial problems are tied to the worst economic systems ever created, first as Communism, then its modified version, Socialism. Neither work. While politicians of every stripe like Socialism as a way to “redistribute” wealth, the entire system is confiscatory and based on coercion. It usually impoverishes the middle class of workers while creating an ever-growing class of those who will not or cannot work.

As harsh as Capitalism can be, it does work. It involves high levels of risk, often large amounts of investment, and it allows for failure. It is also the greatest engine of growth and the development of new industries, new technologies, and improved lives. Like fish in water, we are oblivious to the miracle a single supermarket represents.

All economic systems must strive to cope with corruption and, so long as there are three humans on Earth, there will be corruption. Having recently descended from the trees to walk upright, humans are subject to their aggressive nature.

Communism and Socialism promise equal misery. Capitalism offers the opportunity to enjoy the benefits of making the right investment guesses or developing new and better things people want to own. Competition improves life for everyone.

In sum, the clash between economic systems is still being worked out with nations that grant as much liberty as possible to their populations doing best. Where power is concentrated in a few, their populations and their nations do not prosper. As regards the world’s population, a huge cohort is young, unemployed and combustible.

It is the quest, the demand for more personal and political liberty that is causing much of the upheavals extant and no where is this more obvious than in those nations where Islam has been the prevailing religion. Islam translates as “submission.” It is based in seventh century strictures on how life should be lived. It is at war with modernity. It cannot prevail, but until it reforms or fails, there will be terrorism and war.

The greatest threat to humanity is the presence and continued quest for nuclear weapons. They are genocidal, capable of killing hundreds of thousands, if not millions. Allowing Iran, a nation led by a handful of crazed theocrats, to acquire nuclear parity poses a threat to humanity that has never existed before. Permitting North Korea or Pakistan to retain their nukes can only result in a bad outcome.

Like a rumbling volcano, the tremors felt as the result of the United States being led by a dedicated Communist and likely Muslim is a destabilizing factor not only for its citizens, but for others around the world.

It is up to the present leaders of the world to thread their way through the upheavals and divisions causing growing instability. Some will do it better than others. Some will cling to failed systems and philosophies of the past. Some will simply pursue power for power’s sake.

Alliances will change. Allies will become enemies. Enemies will become allies. Nations will pursue their shifting interests.

For the world in general, a good start would be the abandonment of the United Nations, an institution that failed initially as the League of Nations, and which is now so putrid with corruption and schemes to impose a one-world government that it poses a threat to the sovereignty of all nations.

Just as neighborhoods thrive when the common interests of neighbors for security and peace are observed, international organizations designed to concentrate power inevitably fall short of their heralded benefits.

In the same way shifts in the Earth’s tectonic plates, volcanic eruptions, and the latest cooling cycle are posing massive challenges for humanity, the nations of the world are trying to cope with changes in the financial universe they have created as well as outmoded concepts of security.

How the present upheavals, financial, religious, and demographic work themselves out remains unknown. In a neighborhood people find it best to “get along.” In a world beset with rival systems of belief and governance, the outcome is far more murky and, ultimately, more threatening.

© Alan Caruba, 2011

More about → A World That's Coming Unglued

Celebrating Reagan

By Alan Caruba

This year marks the centennial of Ronald Reagan’s birth on February 6, 1911, but I want to celebrate the anniversaries of his first and second inauguration, January 20, 1981 and January 21, 1985. Just as Reagan transitioned from being a liberal and a Democrat, his presidency did the same for me.

What remains a mystery to me is how America could rocket from the success of the Reagan presidency and that of George H.W. Bush, Reagan's Vice President, to the depths of Bill Clinton’s scandals.

For those with short memories, Americans followed Reagan/Bush with a president who engaged in a tawdry encounter with a White House intern, who lied under oath, was disbarred, but whose personal popularity and a cynical Congress allowed him to escape impeachment.

Reagan was elected in part as a rejection of the weak presidency of his predecessor, Jimmy Carter, who until the election of Barack Obama, has been regarded as the worst president since the end of World War Two.

Unlike Obama who has never lost an opportunity to denigrate America, Reagan never lost an opportunity to lift up our spirits and to celebrate the nation. He said, “Whatever else history may say about me when I’m gone, I hope it will record that I appealed to your best hopes, not your worst fears; to your confidence, rather than your doubts.”

“My dream is that you will travel the road ahead with liberty’s lamp guiding your steps and opportunity’s arm steadying your way. What I’d really like is to go down in history as the President who made Americans believe in themselves again.”

In his first inaugural speech, Reagan said, “It is time for us to realize that we are too great a nation to limit ourselves to small dreams.”

The contrast between the Reagan presidency and that of the current occupant of the office is vast. Reagan understood the American can-do spirit. He celebrated a culture in which striving for wealth was understood to be a worthy goal. Obama believes being wealthy is a sign of exploiting others and of greed. He made it clear during the campaign that he wanted to be President in order to distribute the wealth of individual working Americans.

That’s straight out of the Communist Manifesto and, apparently, too many were simply not listening, dazzled by the notion of electing the first Black President.

In his first election, Reagan won by a significant majority of the popular vote, 44 million to Carter’s 36 million, despite a third party candidate, John Anderson, who won 6 million votes. He swept the electoral vote, 489 to 49, bringing with him 33 Republican Representatives and 11 Senators. Under Reagan, Republican control of the Senate returned for the first time since 1945.

Obama’s first and hopefully last term has already recorded a historic turnover of power in the House to Republicans and a diminishing of Democrat power in the Senate in response to his policies.

The conservative movement in America rose from the ashes of Barry Goldwater’s defeat in 1964 to Lyndon Johnson. In retrospect, it was the same torrent of liberal legislation under LBJ and the expansion of the war in Vietnam that deeply offended Americans. Elected to end the war in Vietnam, Richard M. Nixon would disgrace himself with the Watergate scandal.

To date, Obama’s presidency marks the most dramatic and traumatic lurch toward naked socialism since the days of Lyndon Johnson and Franklin Delano Roosevelt.

It was the liberal legislation rammed through Congress by Sen. Harry Reid and Speaker Nancy Pelosi that led to the rise of the Tea Party movement and a rejection of Obama’s agenda. The new Congress knows it is charged with repealing or defunding Obamacare, a vast expansion of Medicare and Medicaid. Both represent the socialist agenda of the Democrat Party that has brought the nation to the brink of insolvency.

The most casual look back over the years since the end of the Truman administration shows Americans lurching back and forth between scandals and weakness, between the leadership of Eisenhower and Reagan, to the current President who has increased the national debt more than all the previous presidents combined.

Americans, however, never truly abandoned their belief in an ever-growing federal government as the provider of all their needs. Indeed, even under Reagan, the federal government grew in size.

We arrive at the Reagan centennial as a nation burdened by an intrusive government, a history of entitlement programs dating back to FDR, massive civil service unions, and too much spending that has left the nation facing the largest debt in its history. We might as well have been drunk for the last eight decades.

“Any government big enough to give you everything you want, is big enough to take everything you have!" warned Thomas Jefferson, the third President of the United States (1801-1809).

Too many generations of Americans have not paid heed to that fundamental truth, the essence of conservatism. The time to reverse threats to our Constitution and to the future as a nation is now.

© Alan Caruba, 2011

More about → Celebrating Reagan

Adrift on an Ocean of Lies

By Alan Caruba

“The men the American public admires most extravagantly are the daring liars; the men they detest most violently are those who try to tell them the truth.”  -- H.L. Mencken (1880-1956)

One of the insights that age provides is that we are all adrift on an ocean of lies from the moment we are born to when we pass from this world. So much of what we initially “know”, taught to us at home and in school, broadcast via newspapers, radio and television, in the workplace, and, in particular, requiring us to make decisions about the politicians we select to govern in our name, are lies.

The British Prime Minister, Benjamin Disraeli, categorized them as “Lies, damned lies, and statistics.”

Lies and lying, however, may be the natural order of life because even nature employs lies when various species devise ways to camouflage themselves either as a means to deceive and lure prey or to avoid becoming prey.

The prevalence of lies in the affairs of men and nations accounts for why the U.S. has a CIA and a NSA, two giant intelligence and counter-intelligence operations. It is why a third branch of our government is the judiciary.

Americans are now experiencing an avalanche of lies in the form of political ads, media reporting intended to sway the outcome of the forthcoming elections, and the pronouncements and predictions of various politicians and pundits. Not all are lying, but it is safe to presume that most are.

The rise of talk radio and the popularity of personalities such as Rush Limbaugh are based on a hunger for the truth. The revelation that National Public Radio has a deliberate leftist agenda enraged many who genuinely enjoy its programs.

The great anger driving the midterm elections is directly traceable to the lies of the President, his administration, and the Democrat leadership in Congress. Beyond and behind these lies is a mortgage banking system that had been in place for years leading up to the moment that the critical housing market collapsed. The “American dream” of a home must still be earned and paid for. There is no free lunch.

Simply said, making loans to people who were never expected to repay them, turning around and selling those mortgages to Fannie Mae and Freddie Mac, two government entities who in turn “bundled” those bad loans and sold them as securities to banks and investment house was, in hindsight, a system that had to fail at some point.

Passing a “financial reform” act that did not mention Fannie Mae and Freddie Mac, while vastly expanding the Securities and Exchange Commission only compounded the lies.

The elections are about the lies told to sell Obamacare, to hide the real numbers of unemployed, to shut down oil drilling in the Gulf of Mexico, and to insanely increase the national debt by borrowing more in two years than all previous administrations combined had done since George Washington was president.

The lies came at a dizzying pace from the day President Obama was sworn into office.

He told the world that America is not a Christian nation.

He said that “green jobs” were an answer to no jobs.

He said that Medicare “reform” was not a lie designed to implement a governmental takeover of healthcare, one-sixth of the nation’s economy.

He said that General Motors and Chrysler were taken over as wards of the federal government instead of being permitted to reorganize (shake loose of union demands) under the normal process of bankruptcy.

He said the stimulus act was a solution to a stagnant economy when it was, in fact, a laundry list of Democrat earmarks, a “porkulus” bill.

He pushed for a Cap-and-Trade act to sell “carbon credits” as the lies about global warming were crashing around the world. This is the year that the Chicago Climate Exchange will end carbon trading.

The President who dazzled so many with soaring oratory during his campaign proved so inept at explaining his actions that his formal press conferences virtually ceased while his access to the nation’s print and broadcast media increased.

His use of Teleprompters became a national joke.

In a world where lies and the use of violence have always been a driving force throughout human history, where greed is instinctual, we should not be surprised at the folly with which we are surrounded, but we can and must strive to educate ourselves about the truths that are essential to the survival of our form of governance and the future of America.

We can learn that humans have nothing to do with the Earth’s climate; that nothing compares with or can replace the original, totally natural biofuels—oil, coal, and natural gas—that socialism/communism always enslaves and always fails; and that telling the truth is always superior to telling a lie.

© Alan Caruba, 2010

More about → Adrift on an Ocean of Lies