Obama to business owners: 'You didn't build that'

Just to tack on:

Absolutely. As you were growing up, as you were going to school, as you were receiving advice, these were all the same people who told you: Work hard, and you'll get ahead.

Um...roads and bridges are for the benefit of all people. Our forefathers didn't wait for roads and bridges and trains to be built. They forged ahead. And if you want your business to succeed, you don't wait for the government to build a road; you make it happen.

Absolutely correct; the president has told an out-and-out Al Gore-ism. The internet was created to share research. It was later adapted for communications. THEN someone came along and started using it for commerce.

It wasn't "cause and effect"; it wasn't "government research" that caused the use of the internet for commerce. It was entrepreneurs who took what was once a simple, stove-piped, single-use system and saw its potential, and turned it into something much, much more.

But we can't establish socialism without it....

 

I thought he already excelled in that practice.:smilewinkgrin:

 

Or the Federal Reserve prints money which creates inflation, perhaps the worst tax of all.

 

The Small Business Administration apparently really helped this business owner:

SBA Success Stories

 

Is that so? What would you say is an acceptable annual rate of inflation?

 

Zero.

Had we adhered to the constitutional principle of a gold and silver as our currency standard that is what we would have today.

An ounce of gold was valued at $20.00 from 1776 to 1933.

Thanks to FDR we abandoned the gold standard in 1933 and fiat money inflation spiraled out of control:

http://www.history.com/this-day-in-history/fdr-takes-united-states-off-gold-standard

So it started with a .67 cent pacification carrot.

Today a Saint Gauden's $20.00 gold piece is intrinsically valued at about $1600 fiat USD.

While it is true that an ounce of gold still has the approximate buying power now as then, the concept of the authorization of fiat money and a moving target dollar value is a sign of economic instability and corruption into socialism by government tyranny (illegal seizure of property by FDR administration).

It was a form of theft by imposing a hidden tax (inflation: a tax without representation) on we the sheeple.
Every time there is an incremental increase caused by overextending the money supply, we the sheeple are robbed.

A direct tax would be more efficient and honest.

Congress should have stood up to FDR and denied his crime against the constitution and the citizenry

Today (IMO) we have an even worse situation with the "Health Care" Bill when we were told by the Speaker of the House to shut up and ("lets pass the bill so we can see what's in it").

Maybe the DNC should adopt this statement as their campaign slogan.

HankD

 

The price of gold, which is set by government decree, has little to do with price inflation. Furthermore, people do not go around with bags of gold dust and make purchases, nor do store owners have scales in their shops.

 

Well, not anymore ITL but when the constitution was a reality they did.

The whole underframing of today's economy is based upon a soap bubble - a fiat money system whose value is a moving target determined day-by-day by a statistical fabrication called the GDP.

Even that determination is skewed by the fact that "money" can be legally counterfeited by the government at will.

Pehaps a paper money system would allow for a stable economy if it were undergirded with gold and silver as were the gold and silver certificates pre-1933.

HankD

 

I'm still not seeing a connection with the gold standard and the prevention of price inflation. Why would there be zero inflation with a gold standard?

 

OK, I meant by reason of the government and their manipulation of the GDP and yes then my statement is an oversimplification but I believe the root of our economic problems today comes out of the policies of the FDR administration (and following including Republican administrations).

Going off the gold standard eventually resulted in events that fulfill the definition of inflation: A rise in the general level of prices of goods and services in an economy over a period of time.

The cost of living adjustment (cola) should folks get one is usually well below the rate of inflation.

Average price of gold in 2008 - $872.00/ounce.
Today's price - $1600.00/ounce.

Average price of a gallon of gas when Obama took office - $1.95
Today - $3.50.

Did your salary increase proportionately?

The delta is what you have lost due to inflation which is flattened a little more by the variants used to calculate the GDP.

So, admitedly if we were on a precious metal standard then inflation presumably would be far less (from the 1933 marker) than it is but not zero.

Also,
OK, so the price of gasoline also depends on foreign cartels which is another 21st century issue seeing that we have the potential to be independent of OPEC.

HankD

 

Gary Skria is a minority.

Nuff said.

 

Huh? What do you mean?


Skrla credits a government bureaucrat with motivating him to start the business:

http://www.heraldnet.com/article/20090626/BIZ/706269907

 

Skria is an ethnic minority. Otherwise, no SBA loan was likely.

That's the world we live in.