Taxes... They Are All Going Up... A Little

Milford's real estate taxes are going up a little only $106.00 for the average homeowner, state taxes well they are going up just a little when we include the increase in the sales tax, gas tax, and the  increased income tax. The average person in our state will have to pay an additional $750.00 a year. Federal taxes, well they are still working on that but we did see a glimpse of their plans, these include new health insurance taxes and carbon taxes.

To make matters more interesting there are thousands of homeowners who live in Milford that are part of Condo Associations, and yes those fees are also sadly going up with all else.

Thus far it would appear that the cost of food and clothing is going up along with the price of gas. Borders bookstore announced it is going into bankruptcy and will be closing its store at the Milford Mall. Connecticut's state unions are being forced into very large concessions and local governments like ours in Milford are still struggling to balance their budget.

The trend is very clear, the government wants more money from the taxpayers, employers cannot keep up and are laying people off or closing stores and more and more people are relying on help from the government.

Energy assistance, unemployment extensions, food stamps, housing assistance, health care for economically disadvantaged kids, and of course transportation assistance as we have seen in the past. These programs included "cash for clunkers," "Home buyers Credits," "cash infusions to big banks" and who can forget the millions of foreclosures and the latest government program "Keeping Americas Homes Affordable Act."

The disconnect between government, at all levels, and the reality that has become the Greatest Recession America has ever seen is crystal clear. The national debt is growing at a staggering pace and is expected to top 15 Trillion by years end, entire states are bankrupt, and municipalities are expected to go into default on government bonds issued under the "Renew America Act."

For the lucky few out there who have lots of savings, you may weather the storm and be able to see the light at the end of the tunnel. While no one knows where the "end of the tunnel" is, there are some out there who already see the the light.

Wall Street for some odd reason seems to defy Main Street, this is because as Main Street continues to struggle Wall Street continues to prosper. The index is up nearly 20% since last year but few on Main Street feel that recovery. Why you must be thinking? Over and over again the answer is clear and that is that Americas stock markets represent international companies with international business models. 

Many of the companies represented on Wall Street  are international companies. They do business in emerging and developed markets around the world and have unbridled access to liquid money and investment lending that ordinary Americans do not.

Most people who look at America for investing are immediately concerned with the extensive regulations on business that include employer mandates, environmental regulations, high energy costs, taxes, and according to our President our "D" rated infrastructure that must support their manufacturing operations. What governments fail to realize is that increases in taxes, along with the creation of new laws and regulations can dramatically alter the commercial and economic landscape of a community.

This problem is further exaggerated by treaties such as NAFTA, GATT, EPP, ETC.. these treaties make it possible for our nations corporations to shop every government in the world for economic opportunity and to gain an advantage over their competitors.

This is why so many former U.S. based companies have abandoned America. Our global manufacturing is more often than not conducted in nations that pay very low wages, have little to no regulation, low environmental standards and provide a welcome package for those who boost the quality of life of the once destitute people who lived in those host nations.

The issue of taxes, big government, and jobs will persist so long as we live in a bifurcated world where all levels of government tax without regard to the other. The notion of small tax increases is fine until those small increases, combined with others create an environment inhospitable to conduct business. The bankruptcy of Borders books this week is perhaps a reminder that things need to change if we are to stem the tide of economic decline in America and our state.

I hope those of you who read this today are able to make those decisions that ordinary job seekers cannot make for themselves, those decisions must be aimed at rebuilding the U.S. manufacturing base through tariffs and policies that help rather than hurt American wages and jobs. 

Chris Dodd Refuses To Support An Audit Of The Federal Reserve

Senate Banking Committee Chairman Chris Dodd opposes including a provision to audit the Federal Reserve in the Senate’s regulatory reform package, the retiring Connecticut Democrat told the Huffington Post Thursday.

The measure made it into the House bill in November after an unusual insurgency led by Reps. Ron Paul (R-Texas) and Alan Grayson (D-Fla.) beat back a concerted effort by the Fed to kill the provision, and won an overwhelming and bipartisan vote in the House Financial Services Committee. It was an unprecedented legislative defeat for the Federal Reserve, which has never had a real audit in its history. Little is known of what it does with the trillions of dollars at its disposal.

Read entire article

Another Reason To Audit The Federal Reserve

For those not familiar with this issue read the earler articles listed here on the Federal Reserve menace and Peter Schiff's comments. For everyone else the bill below featuring the U.S. President who signed the Federal Reserve Act into law, may in our lifetime appear in our wallets. This could be the new look of America and Inflationism. The only question is... How much Gold will that note buy



Photo of a Bank note only used between banks and bankers featuring Woodrow Wilson. Embelished with the honor of Americas greatest denomination, Wilsons image on money would be seen only by America's elite bankers delighted with his signing of the Federal Reserve Act.

Wilson later, in great regret had this to say about his failures:

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit.

Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men.

We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world.

No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men."


***************************************

Update:

Connecticuts shameful Representatives who have refused to join the 207 Co-Sponsors of the Audit the FED Bill. Call your congressman and demand they stop the Fed from destroying our currency and ruining our economy.

Rep. John Larson [D CT-1]
Rep. Joe Courtney [D CT-2]
Rep. Rosa DeLauro [D CT-3]
Rep. James Himes [D CT-4]
Rep. Christopher Murphy [D CT-5]

Plans Underway For A Global Central Bank

Texas Congressman Ron Paul has warned that international forces are planning the creation of a global central bank that will see a new fiat monetary system come to dominate the world economy.

The 2008 presidential candidate also warned that Barack Obama’s administration will only represent a change in faces and not in policies.

Speaking about the recent G20 meeting Paul told Russia Today:

“I think something will come of it but you probably didn’t hear about it yet. There was some pomp and ceremony that the public knew about, but behind the scenes they were talking about the future and what they are going to do to try to internationalize all regulations, going in the opposite direction of free market and more towards international regulations. I’m sure they even talked about an international central bank.”

Paul also pointed out that global bankers have been holding their own talks on the same matter:

“At the same time the G20 was meeting, we also had the central banks meeting in Europe. Bernanke was over there, and they are doing the same type of planning, so real planning will not be out in the open, until they want us to know about it.” the Congressman said.

“The system that we have today where the fiat dollar is a reserve currency of the world, it’s losing that status and they have to replace it. Hopefully they’ll have enough sense to realise that another international agreement along the Bretton Woods will be no more successful than the last one.” Paul continued.

The Congressman argued that more regulations administered by central banks, rather than placed on to central banks, represents a dangerous move away from the free market.

“We could restructure by getting rid of all the central banks, then you would have honest money come up because nobody could commit fraud. Governments get away with committing fraud - that’s what fiat money is.” Paul commented.

The Congressman warned that an Obama presidency offers no alternative to the economic policies that have led the U.S. and the world to the brink of economic meltdown. Paul Described the kind of change Obama offers as:

“Just change in faces and change in party labels. Both parties represent the same special interests, they both have to represent big business. Obama’s supposed to be a man of the people, well he collected $750 million, more money than anybody else ever collected. Wall Street supported him, the media supported him, all the big money supported him, so his change is not going to be much change at all. He’s not talking about changing monetary policy, the Federal Reserve or getting rid of the income tax or bringing our troops home.”

Paul also commented that he does not believe Obama will withdraw troops from Iraq and pointed out that he has never said he will close down the military bases throughout the country and eliminate the huge embassy in Baghdad.

“Policy will remain interventionist,” the Congressman warned. “We will remain in the middle east and we will not be coming home, we’ll stay in Korea, we’ll stay in Europe, we’ll be in eastern Europe, we’ll be doing all these things. Even though Obama benefited tremendously from ‘change’, all we are changing is the face of our government.”

Paul also warned that the stage has been set for fresh terrorist attacks in the U.S. as a consequence of a sustained interventionist foreign policy.

P. Watson

Rethinking Wall Street, The Federal Reserve Vs. "Laissez Fare" Economics.

John Maynard Keynes, Milton Friedman and Murray Rothbard, started this ongoing debate many years ago. Each argued the the merits and misery of two competing economic philosophies. "Laissez Fare" Economics is viewed as Libertarian in principle, because it begs the government to leave its hand out of the economy and trust business to flourish on its own.

The principle of "Laissez Fare" is an economic system that economically challenges people who are unwilling to work, are lazy or lack the basic self respect and pride needed in the furtherance of their life. It does not, however, allow for the rise of Fascist Oligarchs and Monopolies. In principle it leaves the running of our commerce to ourselves in a manner that ensures free and open trade with all nations.

Our current economic system as seen by the Federal Reserves intervention today was a display of unparalleled meddling, a desperate move to stop the volatile market decline on Wall Street. This interventionist policy takes the free choice out of the hands of people like you and I who have our own principles and ideas on commerce.

The Fed Funds Rate cut of .75% was amazing in calming the U.S. market, but was troubling for the U.S. dollar as those international nations who trade with us begged us not to cut the rate. Many nations already are burdened with dollars that become worth less every day, dollars some nations in Opec are refusing to accept.

There is an illusion going on that only a handful of people see, an illusion that magically keeps an appearance that our stock market losses are low. It does this with inflated dollars that are worth less. To put this into a simple perspective imagine you purchased a new car for $10,000.00 and after driving it for ten years you sell it for $12,000.00. You are under the illusion that you just made 20% on the sale of your car. What would you then do if you found out that $12,000.00 today only could purchase what $3,000.00 purchased ten years ago?

The math is simple, Inflation robbed you of $9,000.00 or 90% of the original purchase price. The real horror about inflation is that many Americans are becoming savvy of the Federal Reserves tricks. The Fed concerned about letting their inflation scam out of the bag, found a way not to include food and energy as part of their reported inflation figure. This is probably due to the negative and embarassing image image to the Fed that these wrecklessly inflated items represent. Thes Items, used most often by us, have artificially surged 10%-20% in price over the last year. You confusion over these "cooked books" is deliberate and amounts to nothing more than the science of aggregate Federal Grand Larceny of us the people.

To make things look even rosier our leaders enter America into treaties like NAFTA and GAFTA and Export our jobs and manufacturing to countries that have no labor unions, few human rights laws, and extreme poverty. We in turn are calmed into believing that these cheap toxic slave products is the true purchasing power of the dollar. Meanwhile inflation gets reported at an unbelievable 4.1% (Something to remember next time you buy a gallon of gas and milk.)

History always shows that in the end, the Federal Reserve Systems policy of creating money out of thin air fails, and fails hard. We have seen this in Germany with the Deuchmark and every other place on Earth where a policy of printing money for debt was ever undertaken.

Today's market volatility, is not over only delayed a while. Our country has made more debt and empty promises than it can afford to pay for. America is becoming a nation up for sale at the bargain price of desperation and failed economic policy. If we can recover from the horrific mistake of excessive debt, greed, broken promises, and our systematic attack on our right to exist as a nation, it will be several years of hardship gone by.

I personally believe that the Federal Reserve System has failed in its function and now is the time to press for a return to a "Laissez Fare" Economy with a sound monetary sytem.