Redneck Review!
No. 173 - 8/13/18
So much for our recent  "Pause that refreshes!"  This review is returning  to a topic which has been discussed  at length in earlier RNR's. The topic, SOCIALISM, what it is, and the threat it poses to our national survival. The following articles and quotations are taken from various sources,  identified if needed.
>From James Cook, 45 year writer and manager of Investment Rarities, in Minnesota. (I personally have much faith in Mr. Cook  because he is a fan of the Austrian School of Economics, Ludvig von Mises, and Henry Hazlitt, and other well-know economists who argue that  FREE ENTERPRISE best gives us freedom and a high standard of living!)
"Nothing threatens American freedom like the rise of socialism. Its main tenets are to abolish private property and the market system and turn the ownership of business over to government. For all purposes... socialism and communism are identical. Suddenly, socialism has begun to attract adherents in the U.S.  Its phony promise of equality attracts the welfare class, social warriors, and demonstrators who see a way to distribute other people's wealth to themselves. This affiliation of lawbreakers and socialism threatens our civilization.  In the last century... such governments have murdered 100 million people. That is history's lesson.
"But today's youthful crew of Bernie Sanders followers pay no heed to history. If a belief in socialism spreads to underclass voters and incites the criminals among them, we shall all have reason to fear."
Pope Pius XI wrote in 1931: "Communism teaches and seeks two objectives: unrelenting class warfare and the complete elimination of private ownership. Not secretly... does it do this, but openly, and by any means possible, even the most violent. When it comes to power, it is ferocious in its... inhumanity. The horrible slaughter... which it laid waste to vast regions of Eastern Europe and Asia give evidence of this."
Condensed article written by Egon von Greyerz, Swiss, Swedish banker and economist: "The U.S. government, as well as many other world governments, have... bribed the people with social security, welfare, medical care at the expense of future generations. Americans never understood that the country couldn't afford the standard of living that it was providing. The common belief in economics  today is that the government will take care of you. No one
asks: Where is the money coming from?
"According to Kotlikoff it isn't coming from anywhere. When he recently commented on Trump's tax, bill, he stated: 'The U.S. is dead broke. This leaves a fiscal Sword of Damocles hanging over children's economic future.' So what is the solution?  Well, there isn't  any. The U.S.... is leading its people to perdition. This will include massive debt defaults and a deflationary implosion of most asset values. Governments will again try to save their economies by printing unlimited amounts of worthless money... leading to hyper inflation and collapsing currencies."
And where are we today?  As said repeatedly in past RNR's, the FED is in a tough spot!  To battle inflation, it has been inching up the interest rate..., but huge debt piled up by government and everyone shouts loudly that continued increases will lead to disaster! So what will the FED choose? Faced with inflation or collapse, my guess is, more money created to fight disaster! Ever hear of QE? (Quantitative Easing?) "Creating large amounts of new money?"
Jake Wren

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