Todd Weber's Random Thoughts

November 14, 2010

The Good, the Bad and the Ugly

I am so very happy that Washingtonians rejected the initiative to implement a state income tax on November 2nd. Also good was the repeal of a recently enacted tax on bottled water, candy, etc. Disappointing was the failure of initiatives to end the state’s liquor monopoly, which I think was due to fear-based ads that convinced non-thinking lemmings that hard liquor is somehow more dangerous than other alcoholic beverages, and that it is better for the state to have exclusive selling rights. It assaults my libertarian sensibilities.

Even more disappointing was the re-election of Senator Patty Murray. Ugh! No surprise, really, in this very left-leaning state, but so frustrating. My sympathies to Dino Rossi for striking out in his third run for high office (two prior attempts at the governorship). Six more years of Super-Spender-Socker-Mom will do no good for the nation.

On another note, if you like inflation you’ll love the Federal Reserve’s plan to pump $600-billion new dollars into the national economy, which they deceptively call “Quantitative Easing.” This increase of the money supply will de-value the dollar (to which many foreign governments have vehemently objected) and cause the price of everything to go up, up and away. So, if you haven’t noticed increases in the price of groceries and gas so far, start paying attention. As you do, you will see them continue to rise indefinitely, and if the predictions of some inflation experts are correct, it will have drastic effects on our daily lives.  Whatever cash we have will be worth less and less, meaning the products we want to purchase will cost more and more. What we pay $5 dollars for today may cost $10, $15, or more in a very short time. 

For this, we have to thank Ben Bernanke, Chairman of the Federal Reserve, and ultimately President Barak Obama, who determines the nation’s monetary policy. Of course, Obama supports this Qualitative Easing because it moves us further toward his Socialist vision for America by exacerbating the present economic crisis, which he and his Progressive cohorts believe will create the opportunity for them to rush to the rescue with still more Socialist solutions. Remember the words of Obama’s Chief of Staff, Rahm Emmanuel, “Never let a crisis go to waste.”

We can only hope that the recent election of many conservatives to Congress will be the beginning of the end of our nation’s mad dash toward Socialism. I am cautiously and skeptically optimistic.

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