Posts Tagged ‘Thomas Sowell’

Jolting the Economy – Thomas Sowell @ Townhall

25 November 2008 Leave a comment

Thomas Sowell has written “Jolting” the Economy at   It is an interesting read as Mr Sowell continues to educate us on American political history.  So check it out.

In fact, I found this paragraph interesting:

In the light of history, this is a faith which passeth all understanding. Even in the case of the Great Depression of the 1930s, increasing numbers of economists and historians who have looked back at that era have concluded that, on net balance, government intervention prolonged the Great Depression.

This conclusion seems to indicate that our government CANNOT do everything for us.  I wish everyone could grasp some understanding of that fact. If we did, we would realize if our government step aside, it would allow US to do the necessary things to make this economy go.  It is a wonder that the GOP could not articulate this point in the past election.

Yet, Mr Sowell continues our history lesson on the Great Depression.  Mr Sowell mentions that the Great Depression has been the longest lasting depressions of all depressions this country has experienced.  But, here is the kicker on FDR affect on addressing the problems of the depression:

With the passing years, it has increasingly been recognized that what FDR did was largely a further extension of what Hoover had done. Where Hoover made things worse, FDR made them much worse.

Most of the current generation do not realize it was World War II that got us out of that depression.  Now, it seems that history is going to repeat itself, just like a TV re-run.

During the election, I found many of Mr Obama policies seem to be re-runs of past policy failures.  This is something which I am not looking forward to experience, but I am sure I will.  Our politicians, regardless of their party affiliation, created this mess in the first place and now the Democrats are poised to make it worse.


Obama, The Left, Law, and Tax Times – Thomas Sowell

29 October 2008 1 comment

Thomas Sowell has a series of opinion pieces at Townhall this week that makes for interesting reading.  Check them out.

Obama and “The Left”
Mr Sowell discusses Mr Obama relationships, alliances, or whatever you want to call it with the so called “The Left”. Mr Sowell points out something about how Mr Obama is riding his to the White House:

That is one way to get to the White House. But slickness with words is not going to help a president deal with either domestic economic crises or the looming dangers of a nuclear Iran.

This is so true that it reminds me of another famous Democrat president who used slickness to win the White House. And we were sure lucky nothing bad happen during those 8 years.  😉

But following this paragraph, Mr Sowell educates us on our form of government and how we need to approach this upcoming election:

Representative government exists, in the first place, because we the voters cannot possibly have all the information necessary to make rational decisions on all the things that the government does. We cannot rule through polls or referendums. We must trust someone to represent us, especially as President of the United States.

Once we recognize this basic fact of representative government, then the question of how trustworthy a candidate is becomes a more urgent question than any of the so-called “real issues.”

Ponder that when you get ready to vote next Tuesday.

Obama and the Law
In this piece, Mr Sowell addresses what type of judges Mr Obama will nominate to the courts. Some of what Mr Sowell writes in this piece paints a scary future for our country. A future that will impact your children and grandchildren. It is one big reason to be careful in whom you choose to vote for this upcoming election. I agree with Mr Sowell:

The Constitution of the United States will not mean much if judges carry out Obama’s vision of the Constitution as “a living document”– that is, something that judges should feel free to change by “interpretation” to favor particular individuals, groups or causes.

This is something I detest in our judges.  So, another item to consider before you vote this Tuesday. Otherwise, I fear how Mr Sowell closed this piece may come true:

That’s not “a living Constitution.” That’s a dying Constitution– and an Obama presidency can kill it off.

Taxing Times
In this piece, Mr Sowell discuss the best of issue of all, taxes. Of course, Mr Obama says he going to give 95% of the people a tax cut, but I as I have posted earlier this is probably not going to be the case. Mr Sowell presents Mr Obama position on taxes could do harm the wealth of Americans, not the rich mind you, but every American.

Those who are receptive to Senator Barack Obama’s plan to increase taxes on “the rich” seem not to understand that the issue is the nation’s loss of wealth. Today, wealth can leave the country when heavy taxes threaten it– instantly, in an age of electronic financial transfers– and create jobs and economic growth overseas, instead of at home.

In this piece, Mr Sowell bring up the topic I fear will come as results of these bail outs and the possible election of Mr Obama: inflation. Will we be ready for it?

So, a good idea would be to examine your current income and find out what taxes you might be paying in the future if the 2000 tax tables were used. Because our Democratic Congress does not plan to extend or make permanent the tax cuts of 2001.  Of course, this is not a tax increase either.

So, ponder this as well on Tuesday.

Categories: Opinion, Politics Tags: ,

Negative Advertising – Thomas Sowell @ Townhall

14 October 2008 Leave a comment

Thomas Sowell has written another great piece posted at called Negative Advertising. A great article on negative advertising versus real issues about the Obama campaign.

A lot people complain about negative advertising because it has gotten so bad lately. Well, this type of campaign is typical in this country. It is nothing new. In fact, in our history of presidential elections, some of this negative advertising was far worse in the past than it is today. That may surprise a few people today. So please check Mr Sowell piece out.

Mr Sowell has pointed out some thing I have known about any liberal, they like to hide who they really are.

Why then is “negative advertising” such a big deal these days? The dirty little secret is this: Liberal candidates have needed to escape their past and pretend that they are not liberals, because so many voters have had it with liberals.

When one runs as conservative, and you win most of the time. In fact in the 2006 elections, most of the Democrats gains were because of Democrats who ran as a conservative in some Republican areas. So, it is no surprise when a liberal likes to gloss over their own record and mesmerize us with their talk, as Mr Sowell points out:

What are called “the real issues” are election-year talking points, while the actual track record of the candidates is treated as a distraction– and somehow an unworthy distraction.

It is hard to vote in this year’s elections because our two parties gave us senators who want to be president. In my book, I am disappointed with the choices they gave us. No change for voting for someone, but voting for the lesser of two evils.

But, if you must make a decision on who the next president should be, examine not their talk but how they have acted in implementing their potential plans.  You may find out that the individual may have not delivered on what they are promising today.

But when has any politician kept their promises once they won that office?

Categories: News, Opinion, Politics Tags: ,

The Real Obama – Thomas Sowell @ Townhall

12 October 2008 Leave a comment

This past week, Thomas Sowell has written a four part series called The Real Obama at Townhall.  Here are the links to this series [Part I|Part II | Part III | Part IV].  They are very a good read for the upcoming election.  Here are some excerpts and thoughts …. Read more…

Do Facts Matter? – Thomas Sowell @ Townhall

4 October 2008 Leave a comment

Thomas Sowell has written another great piece posted at called Do Facts Matter? It is a piece investigating how this financial crisis had grown into the mess today.

So, in opening this piece, he provides us with a memorable quote from a former president:

Abraham Lincoln said, “You can fool all the people some of the time and some of the people all the time, but you can’t fool all the people all the time.”

Pretty much whatever party or candidate you may support, we tend to think the other person or party is fooling us.  But, here are some of the facts about how this financial crisis escalated provided by Mr Sowell:

Fact Number One: It was liberal Democrats, led by Senator Christopher Dodd and Congressman Barney Frank, who for years– including the present year– denied that Fannie Mae and Freddie Mac were taking big risks that could lead to a financial crisis.

It was Senator Dodd, Congressman Frank and other liberal Democrats who for years refused requests from the Bush administration to set up an agency to regulate Fannie Mae and Freddie Mac.

It was liberal Democrats, again led by Dodd and Frank, who for years pushed for Fannie Mae and Freddie Mac to go even further in promoting subprime mortgage loans, which are at the heart of today’s financial crisis.

Of course, our MSM will not tell us of these facts because it does not serve their template in electing Mr Barack Obama to the Presidency. It is all the GOP, George W Bush, and capitalism fault. But, there appears to be no one willing to report the all the facts of this issue either. The recent passage of the bill does NOT fix the problem, but puts a band-aid on it with possible consequences of more problems for all American later.

Instead of throwing a whole lot of money at it, could we have not taken steps to ease the crisis?  There were some good items in the bill, could we have passed those items without the pork or earmarks?  Answer is NO, because it does not work that way in DC.

So, I would agree with Mr Sowell:

Facts don’t matter much politically if they are not reported.

If you did not read his article on Friday, check out it this weekend

Categories: Opinion, Politics Tags: ,

A Political “Solution” – Thomas Sowell

27 September 2008 Leave a comment

Thomas Sowell has written two part series earlier this week called A Political “Solution” at Townhall.  [Part I | Part II].  This series deals with the recent financial crisis on Wall Street.  They are a good read, so check them out.

In Part I, I can agree with Mr Sowell on how government will do in addressing this problem:

There are times when government intervention can make things better. But that is no guarantee that it won’t make things worse. As they say, “the devil is in the details”– and we don’t know the details yet.

Probably most members of Congress don’t know the details yet– and many may still not know the details when the time comes for them to vote on this bailout.

In a way, the one who created the mess in the first place might make it worse.  In fact, Mr Sowell sees it that way:

Why then is there such a mess in the financial markets? Much of that mess is due to the very people we are now turning to for solutions– members of Congress

But as the MSM has been crying “recession” all year long, but one cannot disagree about this fact:

Ninety percent of the people on this planet would exchange their economic situation for ours in a minute. […]

The American economy is growing, not declining. Our unemployment rate is up to 6 percent but there are countries that would be delighted to get their unemployment rate down to 6 percent. Our inflation rate is up a little but many countries would love to get their inflation rate down to where ours is.

Read more…

Categories: Opinion, Politics Tags: ,

Changes in Politics – Thomas Sowell @ Townhall

30 August 2008 Leave a comment

Thomas Sowell has written another fine piece called Changes in Politics at Since the biggest theme of the Obama campaign is change, Mr Sowell points out that change has been happening since the 2008 campaign has began.  Mr Sowell examples:

Less than a year ago, the big question was whether Rudolph Giuliani could beat Hillary Clinton in this year’s presidential election.

Well, that is not going to happen is it?

Less than two months ago, Barack Obama had a huge lead over John McCain in the polls.

It appears that Obama did not get a big bump after the convention.

Less than a week ago, the smart money was saying that Mitt Romney would be McCain’s choice for vice president.

Wow, everyone is talking about John McCain’s VP pick of Alaskan Governor Sarah Palin.

So it was refreshing to see this following paragraph in Mr Sowell piece:

We don’t need Barack Obama to create “change.” Things change in politics, in the economy, and elsewhere in American society, without waiting for a political messiah to lead us into the promised land.

That’s right.  Change is always happening.  And since this spring, I have been wondering what does Mr Obama mean by change?  Mr Sowell describes it:

Despite the incessantly repeated mantra of “change,” Barack Obama’s politics is as old as the New Deal and he is behind the curve when it comes to today’s economy.

Well, I am not a big fan of re-run change, but Mr Sowell brilliantly provide us with the history lesson:

Barack Obama’s “change” is a recycling of the kinds of policies and rhetoric of the New Deal that prolonged the Great Depression of the 1930s far beyond the duration of any depression before or since.

These are the same kinds of liberal policies that led to double-digit inflation, double-digit interest rates and rising unemployment during the Carter administration. These are “back to the future” changes to economic disasters that need repeating.

Make no mistake, the political rhetoric of FDR was great. For those who admire political rhetoric, as so many of Barack Obama’s supporters seem to, FDR was tops. For those who go by actual results, FDR’s track record was abysmal.

Although the Great Depression of the 1930s began under Herbert Hoover, unemployment during Hoover’s last year in office was not as high as it became during each of the first five years under FDR.

During the eight years of FDR’s first two terms as president, there were only two years in which unemployment was lower than it had been under Herbert Hoover– and not by much.

World War II has been credited by some with getting the United States out of the Great Depression. What the war did was put an end to the New Deal, as national survival became the top priority and replaced FDR’s anti-business and class warfare rhetoric.

It would fatal to elect a person of  Mr Obama’s charisma, who can not provides us with real change in our government.

Categories: Opinion, Politics Tags: ,