Wednesday, September 10, 2008

Points to Ponder:
(On Viewing Political Candidates)

I use a simple acid test. To me, the key variable is how they view the proper function of law in a just society. Any candidate that endorses a differentiation between the laws of the individual and the laws of society at large is one who inexorably endorses the plunder of one class of citizens to enrich another class is not a real conservative. And sadly, almost all who run for office under the conservative banner support legal plunder in some form or another. It then becomes a case of ascertaining whether or not their support of legal plunder is based on ignorance of what they are actually supporting or whether they are intentionally in support of it. That is admittedly not easy to determine but a safe norm to follow is to see how much they favour federal involvement or intervention. For the greater they favour those factors, the more they inexorably endorse legal plunder.[...] And no just society can countenance such an abomination and expect to avoid dissolving as a nation at some point or another - either through military conquest or revolution. [Excerpt from Rerum Novarum (circa May 24, 2004)]

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Monday, September 08, 2008

Spring's economic rebound unlikely to last

You would not know that the growth of the economy in the spring quarter (3.3%) exceeded the estimates of both the government's initial estimate (1.9%) as well as the more optimistic estimate of many economists (2.7%) by reading that headline. The reason the news has been shaded that way is not hard to understand -or to quote this weblog from March of 2008:

There is nothing definite either way to say whether we are in or bound for a recession or not -though that the economy has slowed from what it was doing for the past five years is undeniable. But watch the msm try to pull the same crap they did in 1992 when -despite the fact that we had been out of a recession for about six months to a year- they continued up to the day of the election claiming we were still in a recession. No matter what happens in the coming months, I predict the msm will not deviate from the template they used in 1992. The question is, will the influence of the alternative media as a check on the msm be able to make a difference??? Only time will tell. [Excerpt from Rerum Novarum (circa March 18, 2008)]

Indeed readers can review a variety of statements we have made on the economy going back to January of 2008 where we took issue with the presumptions of a "recession" which many in the msm were uncritically parroting.{1}

We at Rerum Novarum have never bought into this notion of a "recession" and we still do not. And at this point, we would not even know until spring of 2009 at the earliest when the figures of third and fourth quarter will be in. But it is too easy for people to let the msm make them depressed over these matters. If you are one prone to being influenced by bad news{2}, find some way to alleviate this. I would suggest doing something for people who are not as fortunate as you are and there will always be such people around regardless of the condition of the economy.

It has been a while since the economy has gone through an adjustment and your host has been expecting one for some time as bull markets never go on forever without corrections. And remember folks: slower economic cycles or periods of bear markets are periods of significant opportunity if you know where to look. But there are a lot of hucksters out there too so the Gospel injunction of being "wise as serpents and guileless as doves" (cf. Matt. x,16) is as pertinent as ever.

Notes:

{1} Readers can assess these matters
by considering this posting from early May where we reported on the growth of the first quarter and reminded readers that we were yet again ahead of the curve on these matters.

{2}
And as the msm never seems to want to report good news very often; ergo it is wise to take anything they say in measured doses unless you have either a strong stomach for it and/or a very astute "bs detector."

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