Fifteen minutes very well spent, if you want to understand economics (and trust me, you DO want to understand economics).
The narration feels a bit high-school-film-presentation, but that's really not all bad, is it? If you don't find something in this video to disagree with, you're either not listening close enough, or you actually do believe in freedom.
The only real problem with capitalism is that it has never really been tried, anywhere in the world. The only real problem with socialism--in any of its various forms--is that it doesn't work. Ever. No matter what you call it. No matter who tries it. No matter how good your intentions are. No matter how smart you are, what school you graduated from or what degrees you hold. No matter how many votes you get.
People can't believe that a truly free society is possible. People also believed that airplanes couldn't fly. People believe lots of things that are not true. The only way to find out is to try.
This is a Public Service Announcement. Delete without opening any e-mail you receive that looks like it is from anybody at:
The subject of the e-mail is usually something like:
Rejected ACH Payment
and the text of the e-mail usually goes something like this:
The ACH transfer (ID: 1234567890123), recently sent from your bank account (by you or any other person), was rejected by the other financial institution.
Transaction ID: 1234567890123
Rejection Reason See details in the report below
report_1234567890123.pdf.exe (self-extracting archive, Adobe PDF)
Please click here to download report:
http://MYNACHA-REPORT-DOMAIN(rest of it screwed up so you won't go there by mistake).INFO
13450 Sunrise Valley Drive, Suite 100 Herndon, VA 20171 (703) 561-1100
2011 NACHA - The Electronic Payments Association
NACHA PHISHING ALERT (02/22/2011) EMAIL CLAIMING TO BE FROM NACHA
NACHA – The Electronic Payments Association has received reports that individuals and/or companies have received a fraudulent email that has the appearance of having been sent from NACHA and signed by a non-existent NACHA employee. Specifically, this email claims to be from the “Electronic Payments Association” and appears to be coming from the email address "email@example.com.” See a sample of the email below.
Be aware that phishing emails frequently have attachments and/or links to Web pages that host malicious code and software. Do not open attachments or follow Web links in unsolicited emails from unknown parties or from parties with whom you do not normally communicate, or that appear to be known but are suspicious or otherwise unusual.
NACHA itself does not process nor touch the ACH transactions that flow to and from organizations and financial institutions. NACHA does not send communications to individuals or organizations about individual ACH transactions that they originate or receive.
If malicious code is detected or suspected on a computer, consult with a computer security or anti-virus specialist to remove malicious code or re-install a clean image of the computer system.
Always use anti-virus software and ensure that the virus signatures are automatically updated.
Ensure that the computer operating systems and common software applications security patches are installed and current.
Be alert for different variations of fraudulent emails.
Don't be scammed. If you don't recognize who it's from, delete it without reading it. If you're not sure, you might take a peek, using your mail client's "view source" function, if it has it. (In Thunderbird, which I use, it's under View >> Message Source).
I don't work for NACHA or anybody else for that matter, it's just that con men piss me off.
Over at Ace of Spades HQ, proprietor Ace has been fighting a rear-guard action against a renewed assault upon the gates by those who insist that There Is Something Going On with Obama's birth certificate.
Here's my position:
It's a snipe hunt. (Credit to AoSHQ commenter Full Moon for the first reference to "snipe hunting.")
Let's break this down to the quark level of comprehension so I can demonstrate where I'm coming from. You see, I don't know if Obama was born in Honolulu or not. By that I mean I do not have first-hand personal knowledge of the event. Therefore, I must depend on the reports of others to either confirm or deny that this event occurred.
So, tell me again how the richest Americans somehow aren't paying "their fair share?" The top 20% of taxpayers are already the only segment of Americans who paying more by percentage in income taxes than they're making in income. They're already paying 67% of the bills, but only make 53% of the money.
The "progressives" are right. This isn't fair. But not the way that they want you to believe.
The rich pay more. That makes everybody else, to some extent, freeloaders, riding in the big wagon of the U.S. economy but not pulling their weight by paying taxes equivalent to what they're earning.
Unless "fair" somehow doesn't mean that everyone should pay for our government according to their ability to pay. Strange how "progressives"/Democrats don't even believe in the classic Marxist saying "from each according to their ability, to each according to their need." They apparently believe only in the second half of that construction, and to hell with the part about "from each according to their ability."
According to the IMF (International Monetary Fund--filbert) forecast, whomever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.
Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes, and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s.
Considering that China has 1,200 million people and the USA has 320 million or thereabouts, on the face of it, that China's domestic economy would at some point exceed the American economy is not itself unthinkable.
But what we see is that China, despite the shackles, impediments and restrictions imposed by their authoritarian government, is totally committed to economic growth, while the current American government shows over and over again that what it is totally committed to is feathering the nests of their cronies, and protecting the political fiefdoms and special government benefits of their special interest groups. The one thing that the current regime in Washington is NOT focused on is national economic growth.
Despite what some overeducated East Coast deep-thinkers may deeply think, this is not evidence of the quintessential superiority of the Chinese neo-Communist command-economy dictatorship "model." It is evidence of the moral and intellectual bankruptcy of the American "progressive" elites.
But, in 2016, the globalist/internationalists in the "progressive" left, lead by their standard-bearer, Obama, can declare "Mission Accomplished." They have finally achieved their decades-long goal of bringing America back into the "community of nations."
Reward them appropriately in November, 2012. And in every subsequent election thereafter until they disabuse themselves of the "progressive" fantasy--or they fantasize themselves to historical oblivion.
That's how much we are spending on welfare programs, based on a family of four--$16,800 per person. That was in 2008, according to the Heritage Institute, as reported in the Forbes Magazine. We're spending more now.
What's that you say? Poor people aren't anywhere near that much money? Well, no, I guess they're not. Where's all that money going then, if it's not getting to the people we're supposed to be helping?
Maybe it would make more sense to eliminate all of the dizzying number of government giveaway programs, and just institute a Department Of Cutting Checks To Poor People, and be done with it. It would be cheaper for the productive people, the poor would wind up getting more money. The only people such a move would hurt would be the government bureaucrats--and the politicians who live by taking money from people then turning around and buying their votes with it.
Re-focus society on using religious and charitable organizations to assist people--this strengthens those organizations, this strengthens the people they help, this strengthens all of society by binding us together in a way government can never, ever do.
The old, "progressive" ways do not work. That is obvious now to anyone with eyes to see. We need to start finding a new way.