The outcome of the Anna Little/ Frank Pallone race in the sixth congressional district will set the tone of the Tea Party’s strength around the country. If Anna Little wins the House seat, there is a high probability that Republicans could win as many as 100 seats on Tuesday. If Little loses by one or two points, Republicans should pick up at least 70 seats. This race is in so many ways a bellwether for the rest of the nation.
Archive for October, 2010
When will the U.S. dollar collapse?
28
Oct
The Federal Reserve has created more than a trillion dollars in the past few years. The last two federal budgets have had back-to-back one trillion dollar plus deficits for the first time in history. The federal government budget shows no signs of stabilizing at more than $3.5 trillion annually, let alone declining from these nose bleed levels anytime soon. Unfunded liabilities of the federal government have reached an astonishing $202 trillion, according to one recent analysis. Despite the collapse of the Soviet Union and the supposed “peace benefit,” total military spending is reaching unprecedented levels in a post Cold War era. Read the rest of this entry »
What is wrong with property taxes? Plenty
23
Oct
In Fort Lee, New Jersey–a municipality with one of the greatest concentrations of co-ops and condominiums in the state–a co-op wants to convert its building to a condominium in order to boost property values and remove restrictions on shareholders. The co-op board wants the town to phase in the higher assessments over 20 years to avoid an immediate spike in property taxes.
Tea Party wimps: man up
21
Oct
The New York Times’ (October 20) front-page article says it all, “As G.O.P. Seeks Spending Cuts, Details Are Scarce.” Tea Party endorsed candidates are campaigning on the “small is beautiful” theme when it comes to the size of government. Yet, virtually none of them has identified any specific reductions in federal spending, nor have they indicated which federal programs or cabinet departments they would abolish.
The Sovietization of the American media
18
Oct
In the former Soviet Union, dissidents were called “enemies of the state” by the ruling apparatchiks and imprisoned for posing a threat to the ruling order. In addition, dissidents were branded as mentally ill and confined to a psychiatric ward so they could be “cured” of their anti-state thoughts. Ironically, in America today the mass media are performing a similar task as the thugs who enslaved the Russians and other ethnic groups for nearly seventy five years by insinuating that critics of the federal government are “dangerous” and mentally unbalanced.
Ben Bernanke’s money machine is about to go into overdrive
16
Oct
On October 15th Ben Bernanke, chairman of the Federal Reserve, gave a speech at the Federal Reserve Bank of Boston outlining his views on the economy and asserted that the FED will pursue its dual mandate vigorously: maximum employment and price stability.
Christie for president? First take on the New Jersey Supreme Court
14
Oct
Governor Christie is getting national attention for his blunt style and outspokenness as he travels around the country campaigning for fellow Republicans. Christie’s “in your face” approach has even spilled over into the Tea Party crowd. Last week, the governor won a presidential straw poll in Virginia, edging out both Sarah Palin and Rep. Ron Paul. However, in a culture that worships style over substance, he has to do more in the Garden State than bash the New Jersey Education Association if he has any thoughts about living at 1600 Pennsylvania Avenue in Washington DC.
Run Ron Run
11
Oct
In January 2007 libertarian Republican Congressman Ron Paul of Texas announced on national television (C-SPAN) he would seek the GOP presidential nomination in 2008. I was ecstatic. What a great opportunity to have a member of Congress run for president who has warned about the evils of big government for more than 30 years. I soon sent the Ron Paul for president campaign a contribution and continued to send him support as did my wife until we both reached the maximum legal limit.
Medical marijuana and the doctor-patient relationship
09
Oct
Last week the Christie administration created new rules for dispensing medical marijuana in New Jersey. Instead of allowing patients who desire to alleviate pain and other ailments relatively easy access to marijuana as the law requires, the Christie administration has reduced the number of authorized dispensaries, will require patients to be certified by a state review panel, and physicians must document that other pain remedies have been ineffective after treating a patient for at least a year. In addition, a patient must suffer from one of nine diseases to be eligible to obtain medical marijuana, among other restrictions.
Raining money in Newark
04
Oct
On Oprah’s national television show Mark Zuckerberg, co-founder of Facebook, accompanied by Governor Christie and Newark mayor Corey Booker, announced he will make a $100 million gift to the Newark school system spread over five years. Zuckerberg’s gift is in the form of a “challenge grant.” Newark has to raise an additional $100 million over five years, bringing the total philanthropic bounty to $200 million.
My brief encounter with Paul Krugman
03
Oct
My essay about Paul Krugman’s lecture at Ramapo College on September 29th is posted on LewRockwell.com. I welcome your comments.