Great Depression Online Archive Issue:

In Defense of Broken Government

Great Depression Online
Long Beach, CA
February 19, 2010

Inside This Issue You Will Discover…

*** Guaranteeing a Depression
*** Cut the Crap
*** In Defense of Broken Government
*** And More

Guaranteeing a Depression

One year of stimulus and what has it gotten us?

According to the President, the $787 billion American Recovery and Reinvestment Act ended the possibility of a depression.  “One year later, it is largely thanks to the recovery act that a second depression is no longer a possibility,” said President Obama.

Perhaps he’s right.  Perhaps a second Great Depression is no longer a possibility.  It’s too bad.  Because now, thanks to all the stimulus, it’s a guarantee.  Here’s what we mean…

Back in May 1939 after staggering through a 10-year depression, FDR’s Treasury Secretary, Henry Morganthau, addressed Congressional Democrats on the futility of stimulus.

~~~~~~Free Market Research~~~~~~

Hurry!  This offer ends soon.  For a limited-time, you can download a 100+ page book full of investment analysis and forecasts for every major world market courtesy of Elliott Wave International.  You will not find this offer on their website; it's exclusively for you right here.  Learn more here.

~~~~~~~~~~~~~~~~~~~~~~~~~

“We have tried spending money.  We are spending more than we have ever spent before and it does not work … I say after eight years of this Administration we have just as much unemployment as when we started … And an enormous debt to boot!”

But Obama, like FDR before him, loves it…

“There has never been a program of this scale, moved at this speed, that has been enacted as effectively and as transparently as the recovery act,” said the President.

To this we say:  Slim it up.  Slow it down.  We want ineffectiveness and cloudiness.

Cut the Crap

“Washington right now is broken,” said Vice President Joe Biden on Wednesday.

This must be, without a doubt, the best news we’ve heard the man utter since taking office.  For if Washington is broken, that means, nothing is getting done.  And a government that does nothing – if you care about individual liberties and public debt – is much better than one that does something.

Here at the GDO we whole heartedly support leaders that do nothing.  No new laws.  No new agencies.  No new programs.  No new nonsense.  That’s the platform we’ll vote for. 

It takes a leader of real intelligence to recognize that doing nothing is much better than doing something.  Regrettably, Washington is overrun by idiots.  And idiots think if they pass enough laws…if they screw around with people’s lives enough…the world will be a better place. 

Of the notion that doing nothing is better than doing something, they are clueless.  “Hey guys, get your act together… Get something going,” was the message Biden claimed to take from the Republican upset in Massachusetts.

To the contrary, the election message was, “Hey idiots, cut the crap… knock it off already.”

Yet somehow, through the lens of the beltway, slow Joe’s vision went blurry and his brain went soft…and he couldn’t comprehend the meaning of it all.  What an idiot.

In Defense of Broken Government

“Rule one: Never allow a crisis to go to waste,” said Whitehouse Chief of Staff Rahm Emanuel back in November of 2008.  “They are opportunities to do big things.”

He must have been thinking of the forthcoming stimulus bill when he made this remark…and with it admission to the vast vaults of the public treasury.

With guys like these running things, broken government is the only answer.  It can save the nation.  Legislative gridlock.  Policy stagnation.  Partisan stalemates.

Bring it on.

So far, just this year alone, broken government has saved the American people a fortune.  For if government worked the way Biden wanted it to, we’d all be living with a new climate bill.  Instead, thanks to broken government, it’s stuck in the Senate.  Same thing with the health care legislation.  If the government keeps failing, it’ll never come to be.

Too bad the government wasn’t broken before.  If it had been, we wouldn’t be burdened with the prescription drug bill.  What a shame, the projected net cost of the program over the 2006 to 2015 period is about $550 billion.  We’ll be lucky if it doesn’t end up costing twice that.

And too bad the government wasn’t broken before the stimulus bill passed.  Now we’re $787 billion more in the hole…plus a guaranteed depression.

So defend it.  Endorse it.  Celebrate it.  Love it.

Broken government is not the problem; it’s the answer.

Sincerely,

M.N. Gordon
Great Depression Online

P.S.  EWI is giving away one month of its most popular global analysis publication, a 100+ page “little black book” of investment insights called Global Market Perspective, which includes EWI’s three regional publications: The U.S. Elliott Wave Financial Forecast ($19/month value); The European Elliott Wave Financial Forecast ($29/month value); The Asian-Pacific Elliott Wave Financial Forecast ($31/month value).

Plus, the 100+ page book includes analysis culled straight from EWI’s professional-grade Specialty Services, each of which is valued at $199/month.  This means you also get analysis and forecasts for the following global markets: World stock markets (China, Japan, Korea, U.S, France, Britain, Australia, Singapore and more); Global interest rates (Australia, Europe, Japan, U.S.); International currency relationships (U.S. Dollar, Euro rates, Swiss Francs, Australian Dollar, Japanese Yen and more); Metals and Energy (Crude Oil, Gold, Silver, Natural Gas).

This is truly a very rare occasion, and it only lasts for just a few more days.  Whether you use Elliott or not, we highly recommend you stop by the website below and take advantage of this limited-time, completely free offer.

Check it out. 

 

FREE 7-Day Course and Three Bonus Reports When You Subscribe to the Great Depression Online E-Newsletter Today Simply Enter You E-mail Address Below...
Email:

We Respect Your Privacy
We Will Not Share Your Email
With Anyone Else