Archive for May 16th, 2009
Here, Thomas E Woods discusses the often overlooked depression of 1920 in which our federal government did not try and “stimulate” the economy and thereby the depression only lasted ONE YEAR and quickly we were back to setting records.
German economic policy is bankrupt, economists have said.
The declaration was made as it emerged that Europe’s biggest economy has now suffered a worse “lost decade” than Japan and is deeper in recession than any other major economy.
On a day of dismal news for the European economy, official figures also showed that Italy, Austria, Spain and the Netherlands are facing their biggest combined slump in post-war history, sparking warnings about the potential for social unrest throughout Europe.
Within hours, the managing director of the International Monetary Fund (IMF) warned that the global recession is far from over and that people must prepare themselves for more financial shocks. Dominique Strauss-Kahn said the world remains in the grips of a “Great Recession” and played down talk of “green shoots”.
Germany’s economy shrank by 3.8pc in the first three months of the year – a record contraction that is almost double the fall of Britain’s gross domestic product in the first quarter. The figures sparked attacks on Germany’s government, which has repeatedly shown reluctance to bail out either its economy or financial system.
In figures described by economists as “disastrous”, Eurostat also reported that Italy shrank by 2.4pc, Austria and the Netherlands by 2.8pc, Spain by 1.8pc and France by 1.2pc. The statistics underline the fact that although Britain’s financial system was badly hit in the early months of the crisis, the UK’s economy has not fared as badly as its continental rivals, contracting by 1.9pc in the first quarter.
The sharp German contraction – the worst since the Second World War – follows news that the bill for bailing out its economy is likely to exceed the cost of re-unification in the years of austerity after the fall of the Berlin Wall. Economists said that the country’s reluctance to move quickly to cut taxes and raise spending was largely to blame.
Ron Paul’s son, Rand appears on Maddow and reveals that he is forming an exploratory committee to run for the senate.
Article from: http://senateconservatives.com/2009/04/29/obamas-100-day-war-on-freedom/
Take a moment to read through this list of events during President Obama’s first 100 days and ask yourself if freedom is important enough to fight back. With the support of a Democrat Congress and liberals in the media, the President is moving quickly to consolidate power. Americans must stop him, and the first step to saving freedom is to strengthen the U.S. Senate with strong conservatives.
Day 1 – Jan. 20 – Obama gives inaugural address, says size of government does not matter.
Day 2 – Jan. 21 – Obama bans lobbyists from working in his administration – then selects Raytheon lobbyist for his administration.
Day 3 – Jan. 22 – Obama signs order to close Guantanamo by the end of the year – offers no plan to deal with 240 detained terrorists.
Day 4 – Jan. 23 – Obama reverses Mexico City policy; allows taxpayer money to be used for abortions overseas.
Day 5 – Jan. 24 – Obama uses weekly radio address to call on Congress to pass massive stimulus bill — continues Bush’s failed economic policies.