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Tuesday, April 30, 2013

By Michael Mccune: The Rant - Sequester Trims Spending in U.S. But Not Internationally (( to Have MIke send you the Rant to your Email contact Him Here (( ))

Sequester Trims Spending in U.S. But Not Internationally

No matter what claptrap the government wants you to believe, the U.S. economy is not going to go anywhere unless the rest of the world is also enjoying a healthy economy. That won't happen until the central bankers drop their allegiance to the Keynesian theory that debt, debt and more debt is the only sure path to wealth.
Our Federal Reserve is the biggest culprit because it is manipulating interest rates. This, in effect, has detached stock market prices from real value and essentially made every trade on Wall Street or in London or Paris or anywhere else not against the true price but against what the Fed's irresponsible leadership will do tomorrow.(1)
The mere fact Ben Bernanke is wedded to the Keynesian ideal of debt forcing economic activity to rise by valuing dollar against dollar without the printing press factor included, has put the dollar in a precarious position as the world's benchmark currency.
But what if that position comes with an ever-increasing cost? And at a cost that hasn't yet figured the printing press factor into the equation on a national level but is now being calculated by the global markets?
The latter question is the major concern today.
It is no secret that the United Nations and the International Monetary Fund would all go the way of the dodo without U.S. donations. Since the inception of these Progressive programs, the U.S. has shouldered the financial burden as the world's leader.(2)
We have been trying to buy goodwill rather than leave the peoples of the world alone to their own devices. But the sowing was on bad soil and we have never collected the crop we expected.
Under the guise of free trade, America "bought" its seats on the UN Security Council and the IMF. Those purchased seats gave us the right to veto any activity we didn't agree with. For a time it appeared this policy would work but over the past 50 years the agencies' agendas have taken a decidedly anti-American tone.
Now our government is again trying to claim these purchased assets (seat and veto) are not truly expenses but "loans" to the individual agencies taking place as an "exchange of assets" and thus has no budgetary implications.
This has been done for decades, no matter which party has controlled the government at the time. But never before has this odd explanation taken place during a sequester in which individual Americans and pro-American citizen programs are being decimated.
The $63 billion dollars pledged to the IMF, for instance, would just about balance the sequester's effects as announced when it started. The remaining $24 billion could be taken out of petty cash without a blink by the mere act of curtailing expenditures in countries that already are enemies--like Syria, Libya or Egypt--or by making our fiscally-invisible partners in NATO take care of their own military needs or at least reimburse us for our expenses.
Why do we continue to show such devotion to these futile organizations at the national level when the funds are needed elsewhere? Wouldn't it make more sense for taxpayer dollars to be used to support the local economy upon which those dollars are derived rather than send them down a gluttonous drain from which the economy will never see them again?
But that is not the world of politics currently in place in Washington. That world sneezes and wipes it nose on you rather than sneeze and dismiss the rest of the world. In essence, it is trying to buy the love and respect it has lost in non-Beltway America from the rest of the world.
And the printing press runs to supply the new desire in Washington.
Too bad you and your community nor the rest of America will see any benefit from the press. All you can do is watch the 'debt-clock' tick over to $17 trillion while we lose more economic activity because our government would rather take care of other countries' populations first.
"I have sworn on the altar of God eternal hostility to every form of tyranny over the mind of man."--Thomas Jefferson
(1)--Moneynews, 4-28-2013, Fed is Wrecking Free Enterprise System
(2)--Federal Register, 4-26-2013, House Financial Services/Monetary and Trade Subcommittee, "Evaluating US Contributions to the IMF"

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