Category Archives: Capitalism

Drowning in a Sea of Red Ink

The declaration in the Biblical book of Proverbs, chapter 22, “the borrower is the slave of the lender,” is quite instructive to the current situation of the federal government and the deficit spending binge it has been on for over a decade now. It was bad enough during the George W. Bush presidency. The Iraq and Afghanistan Wars were being paid for through increasing the debt load on the American people, and the Republican Congress instituted a Medicare prescription drug plan that had no funding mechanism to pay for it. But toward the end of the Bush administration and continuing on through the Obama administration, this profligacy has increased to new record levels.

The 2009 stimulus program added even more debt for the American people to bear. Foreign investors helped this along by purchasing a large chunk of this debt, and the Federal Reserve has been more than willing to help by monetizing the debt as needed. The first yearly deficit that surpassed $1 trillion (the actual increase in the total national debt) occurred during the last full fiscal year of the Bush administration, coming in at a robust $1.2 trillion. The deficit grew even larger, hitting $1.9 trillion in the fiscal year ending September 30, 2011. After dropping to “only” $671 billion last year (as the sequester’s automatic spending reductions had at least some bite and revenues increased a bit), the national debt has already increased by approximately $800 billion in the first six months of this new fiscal year.

And if all of this awful fiscal news was not enough to digest, the American people are facing unfunded federal government liabilities of many tens of trillions of dollars in the upcoming decades. These are unfunded because, at the moment, there is not enough projected revenue to pay for much of the expected spending, which will be mainly in the area of entitlements (Social Security, Medicare, and Medicaid).

I propose that two steps are necessary to stem this tide of red ink that is swallowing the American Dream. First, we need a Balanced Budget Amendment to the U.S. Constitution that will require bringing the budget in balance within five years of its adoption. Doing so would help to stabilize the spending of the federal government at around 18% of GDP. That is still too high for a truly limited, constitutional federal government, but it would be a starting point. Spending levels could be ratcheted down from there, and at least the flow of red ink would be stopped at that level of government. There is no lack of ideas for prudently cutting down federal spending, and we need to start implementing at least some of them sooner rather than later.

Second, we need to ditch the Federal Reserve and its fiat paper monetary regime and institute a modern day gold standard. As former Congressman Ron Paul and Lewis Lehrman wrote in 1982, in The Case for Gold, page 159:

It is necessary to balance the budget and institute a gold standard together. The discipline required for one mandates the other. If government is to be limited in size, the budget balanced and the market free, gold will be a necessary adjunct.

As the Bible instructs in Deuteronomy 25:15, “A full and fair weight you shall have, a full and fair measure you shall have.” The Federal Reserve has manipulated the U.S. dollar since its creation in 1913 and has so far destroyed 96% of its value. At this point, I guess we should be grateful that they have left us with even four pennies on the dollar. This manipulation must come to an end, by instituting a sound gold-backed dollar and Balanced Budget Amendment, as a line of defense against deficit spending.

—Ken Hamilton, LPAR Executive Committee member

END THE FED – Arkansas!

Join us in Little Rock as we march to END THE FED with Christina Tobin and Adam Kokesh!

END THE FED Arkansas and the Libertarian Party of Arkansas have come together to sponsor the 2012 End the Fed March and Rally on Saturday, November 24th. Christina Tobin, founder and Chair of the Free and Equal Elections Foundation and Adam Kokesh, host of ADAM VS THE MAN will be our keynote speakers for this event.

Christina Tobin co-moderated the 2012 Presidential debate with Larry King and served as Ralph Nader’s national ballot access coordinator in 2008. Christina champions for electoral reform and bringing visibility to third party candidates. Read more about her HERE.

Adam Kokesh, Iraq war veteran, anti-war protestor and media personality will also speak at the rally. Kokesh is the creator of ADAM VS THE MAN podcast, a three-hour daily production about challenging authority, “sticking it to the man,” and living like a free, dignified human being. Find out more about Adam HERE.

Arkansan and Libertarian Revolutionist Dugan King will be introducing a local parallel currency called the ArBuck at the rally. To find out more about his plan, click HERE.

The march will begin at 11am at the Riverfest Amphitheater (400 President Clinton ), proceed past the Federal Reserve (Stephens, Inc. building at 111 Center St.), will continue to the Old State House Museum (300 W. Markham St.) where the march will pause for Kokesh to speak to the crowd at noon. The march will end at 12:30pm with a rally at the Belvedere near the Amphitheater (Riverfront Park). Following the rally with the keynote and other speakers, free entertainment will be provided by The Bryant Band and Steve Bates  (folk rock guitarist, singer and songwriter) at Juanita’s (614 President Clinton).

Other speakers include Chris Hayes, former Congressional candidate; Rodger Paxton, Chairman of the Libertarian Party of AR; David Chiodo, founder of END THE FED Arkansas; Mark Daniels, blogger, activist and founder of globalpoliticalawakening.com; and Britney Logan, VP of Young Americans for Liberty at the University of Central AR.

Now, how can you get involved with the End The Fed March and Rally?

There are three ways you can help!

1-      Spread the word about our event!
Post on your facebook, twitter or other social media accounts, send emails or call your liberty-loving friends and family and help us get the word out, even if you cannot attend.

2-      Attend our event!
We are expecting over 100 participants and we would love to see that number double in the coming days. You can RSVP on our facebook event page HERE.

3-      Make a donation to help us fund this event! You can see that information below:

Please consider making a donation to help us fund this event so that these freedom-fighters can help attract media attention as well as help us spread our message across Arkansas!  You can donate by clicking HERE, or contact Mark Daniels at501-570-6368 if you would like to make a cash or precious metal pledge to be made payable at the event.

Caery Concepts is providing End The Fed T-Shirts which will be available to purchase at the Rally. You will receive a free T-Shirt when you make a donation of $25 or more. We will have your shirt available for pick-up between 10-11am on Saturday morning at the Amphitheater.

We will see you Saturday on our quest to END THE FED!

LPAR in the News

The LPAR has been in the news a lot recently, and here are a couple of places.

NWAHomepage.com with a two-minute video that ran on the local Fox News station. Click the link to watch the video!

KUAF 91.3 Ozarks At Large public radio program. Once on the Ozarks at Large page, search for “libertarian” and it will bring the radio spot to the top. This interview was nearly 8 minutes long and ran several times on KUAF in it’s entirety.

LPAR Chair Participates as a Panelist on Liberty Cap Talk Live

Rodger Paxton, Chairman of the LPAR, was a guest panelist on Liberty Cap Talk Live tonight. To listen to the podcast, go to Liberty Cap Talk Live and download the .mp3 file. You can also listen to it on your iPod device by going to iTunes. Other panelists were James Oaksun, Treasurer of the Libertarian National Committee and Jackie Fiest, contributor the the Liberty Conspiracy website and podcast. Thanks to Todd Andrew Barnett for hosting the show and having us all on.

Note: There is some explicit language in this podcast.

The Libertarian Alternative – United States Postal Service

usps-USPostalService“The only security men can have for their political liberty, consists in keeping their money in their own pockets.” – Lysander Spooner

“Neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds.” – Inscription on the General Post Office in New York City, originally a statement written by Herodotus about 500 B.C. to describe the fidelity with which the work of the Persian mounted postal couriers was done

Article I, Section 8, Clause 7 of the U.S. Constitution says “[The Congress shall have Power] To establish Post Offices and Post roads.”

So there you go. It’s cut and dry. The Constitution says it so Continue reading

The Libertarian Alternative–Airport Security

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Welcome to the second article in “The Libertarian Alternative.” This series will be used to look at current policy in America and give you a plausible solution for those policies using a libertarian alternative. If there is a topic you would like to see in this blog series, please email me at chair@lpar.org and I will consider using your idea in the next blog!

"Anyone is welcome to grab my crotch, I don't require dinner and a movie, just ask me. Is that asking too much? You wanna grab my crotch, please ask. Does that seem like a crazy person to you?" – Penn Jillette to a TSA Supervisor in 2002.

“If you touch my junk, I’ll have you arrested.” – John Tyner to a TSA Agent in 2010tsa-cavity-search-poster

Unless you’ve been living under a rock the last few weeks, you have heard about the controversy surrounding the TSA and their new scanning machines and opt-out pat-down policy changes. This has caused a growing number of people to challenge the Transportation Security Administration (TSA) on this issue and has prompted the “National Opt-Out Day” for November 24th, the busiest air travel day of the year, to hopefully bring more attention to this issue.

With growing reports of 3-years olds having their genital area groped while screaming in fear, “Stop touching me!” and nuns being deep searched (see picture above), people all over are livid over the situation, prompting calls of “The terrorists have won” from all sorts of sources, including The Drudge Report and the Libertarian Party of America. Pilots’ unions and Flight Attendants’ unions are also up in arms over this, and are calling for talks with the TSA to find ways to keep their union members out of the radiation-emitting naked scanners and the molestation pat downs.

Today, the estimated chances of being on a plane with a terrorist are 1 in 20,000,000, yes Continue reading

The Libertarian Alternative–Public vs. Private Roads

Welcome to the first of what I expect to be an ongoing blog series entitled “The Libertarian Alternative.” This series will be used to look at current policy in America and give you a plausible solution for those policies using a libertarian alternative. If there is a topic you would like to see in this blog series, please email me at chair@lpar.org and I will consider using your idea in the next blog!

“Roads? Where we’re going, we don’t need roads.“ – Dr. Emmett Brown, Back to the Future

There are just some services and products that only the government can provide, like roads, police, fire, etc., right? I submit that this is completely wrong.

First of all, lets look at what happens when the government runs the roads.  Most people think this is all done through the gas taxes that are paid on every gallon of gas sold in America. This is not the case. Depending on the source of the information, anywhere from 10% to 35% of the cost for our highway systems are paid by the gas tax. The rest comes from taxes on the purchase of vehicles, other taxes, borrowing from the general fund, and about 5% from tolls.

95% of this funding is taken from our pockets against our will to be used for a product that we may not even use! I have a friend who is legally blind. This man doesn’t own a car and does not drive. He walks to most places he goes to because he chose the location of his home based on the walking distance to certain places he frequents. In the rare instance of needing to travel

Continue reading

Marx never understood capitalism

There are many misconceptions in the theories of Karl Marx – too many to cover in a single article. I’d like to mention one of them today – the fact that Marx never understood capitalism when he came up with his economic theories.

Marx asserted that the capitalist exploits workers because the worker is never paid the full value of goods produced. Capitalism allows the business-owner to claim a profit on goods sold minus the costs of labor, etc. Marx viewed this as exploitation of the working class (the proletariat) who isn’t paid the full value of labor put forth to produce goods sold on the market.

Marx believed the ruling class, the bourgeoisie, kept the working class perpetually, from generation to generation, from improving their lot in life. The bourgeoisie, on the other hand, is by birthright the landowner and business owner whose status alone keeps the working class from ever entering entrepreneurship.

This is obviously untrue. In fact, it is the state that acts to prevent totally free markets (true capitalism) from taking place. It is the government that seizes property as it sees fit to benefit the governors at the expense of the governed. Continue reading