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Idaho's Weekly Journal of Local & National Commentary  Week 4714

 

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by Free Market Duck

Idaho Statesman supports spending $65 million of federal stimulus booty for Boise Trolley Cars
Jun 12, 2009

$26 million per mile for 2.6 miles of downtown Boise streetcars?  In the middle of the greatest Depression since the 1930s, with Boise’s unemployment rate soaring past 10% and climbing?  Are you kidding?  Mayor Bieter should be tarred and feathered and ridden out of town on a wooden rail.

“That is the kind of thing the stimulus package was intended to be used for.” – Idaho Sen. Mike Crapo, grabbing for all the federal “stimulus” money he can get his hands on after voting NO on Obama’s $787 Billion stimulus package

Boise, ID – Pull up the floor and pour yourself another hot cup of Rocket Java, girl friends.  This one will blow your capitalist socks off.

   Idaho's leading socialist rag, the Idaho Statesman, thinks it's just wonderful that Left Liberal Boise Mayor Dave Bieter wants to blow $65 million on a 2.6 mile Streetcar system for downtown Boise.  $65 million?  That's a whopping $26 million per mile!

   Joining in the Keynesian fascist economic chorus to spend Obama's $787 Billion of pulp fiction dollars is supposed GOP -- now he is, now he isn't, whoops what are we today, GOP, Democrat, socialist, fascist, Mickey Mouse -- Senator Mike "The Chameleon" Crapo.  “Ya-yesss, girl friends,” said Senator Crapo, grabbing for as much of the federal government's Bail Out Booty as he can get his hands on, "That is the kind of thing the stimulus package was intended to be used for."

   Uh huh, the rest of the nation is just dying to pay taxes for Boise, Idaho to blow $65 million on a downtown Streetcar system.  And Boiseans are just dying to pay hundreds of millions of their portion of the new National Debt -- created out of thin air -- for California to study the hind ends of sea otters swimming around in Monterey Bay.

   Last Feb, Crapo voted NO on Obama's $787 Billion Stimulus Scam, the ARRA (America’s Redistribution & Rat’s Ass scam).  Today, Crapo is scampering around like Porky Pig at the Fed Reserve trough for "shovel ready" make-work projects on which to blow Idaho's $1 Billion to $2 Billion share of Obama's Pirate Money.  The socialist Statesman says, "Working for streetcar dollars does not make Crapo a hypocrite.  It makes him a pragmatist."  No it doesn’t.  It makes him a Keynesian Economic Village Idiot who has no clue that the government cannot just print up paper money out of thin air to enrich a nation.

   The Statesman goes on to say, "The fight over the stimulus proposal -- as fiscal policy and as a prescription for an ailing economy -- ended when the bill was signed into law.  The deal is done.  This overwhelming sum of money, to be paid by our children and grandchildren, has been committed.  The job now is to identify projects that create jobs and maximize the long range return."

   Errrrttt, screech!  Wait a minute.  Hold the phone.  The idiotic babblings uttered above by the editors at the Idaho Statesman contained a mouthful -- a mouthful of so many economic sophisms and just plain stupid, fallacious statements that one wonders where to start to refute them all.

   First, the entire idea of an economic stimulus package rests upon false Keynesian socialist notions and Marxist Fairytales.  One cannot inflate the paper currency of a nation, claiming that for every $1 the Fed injects into the economy, it will produce $1.57 in new wealth -- the so-called 1.57 “Multiplier Effect” claimed by Treasury Secretary Tim Geithner -- and that from this supposed “stimulus” of new wealth, one can then create 4 million new jobs (real jobs, productive jobs, not government bureaucracy jobs).  This is sheer lunacy.  Obama’s Economic Advisory Team is ripe with UC Berkeley fascist economists such as Christine Roma, her husband Mr. Roma, Robert Reich, and Yale, Princeton, and Harvard “Historical Quantitative Economists” Fed Chief Ben Bernanke, Treasury Sec Tim Geithner and others who understand nothing about gold, a paper receipt for gold, or the praxeological underpinnings of individual rights and free market capitalism.

   So, right off the bat, in its false presumption of what constitutes the basic premises of economics, the Statesman is wrong in its assertion that Keynesian economics as “fiscal policy and as a prescription for an ailing economy” will work.  It never has and it never will.  It is not working now in the United States and it is also not working in Europe or in any other country in the world.  Nor can it ever because its premises are false.

   Therefore, the fight against Obama’s stimulus package is NOT over; it has just begun.

   Second, just because Obama’s $787 Billion Funny Money Scam was signed into law, does not mean the deal is done.  It can, and should be, rescinded by every state in the Union.  Every state that accepts Federal Bail Out Booty is guilty of prolonging our nation’s current financial meltdown, which has now turned into the Greater Depression as we watch the unemployment figures climb to 20% and higher in many locations, and the economy continue to collapse around our ears.  The only thing the Statesman editors got right was that Obama’s staggering new spending that ranges up into trillions and trillions of new inflation is an “overwhelming sum of money” -- with emphasis on the word “overwhelming.”  And here is where they get it wrong, “to be paid by our children and grandchildren.”  That’s exactly the point:  it cannot possibly be paid for by our children and grandchildren, even if the government took every dollar that future generations will earn.

   And that’s also what’s wrong with government inflation of the money supply – not to mention the violation of individual rights.  The U.S. Dollar will simply be devalued down to a Zimbabwean worthless dollar at Obama’s current rate of hyper-inflation.

   The Statesman is also wrong to think that, “The job now is to identify projects that create jobs and maximize the long-range return.”  The editors think that all the government has to do is print up lots of paper money and then pretend they are a private corporation running some type of business in a free market economy.  The truth is that as soon as the government jumps into the free market, the name of the game changes.  There will be no competition, no market prices, no ability to determine supply and demand, and all government endeavors will simply be dictated not by the praxeological conditions of a true market but by politics and special interest legislation.  Therefore, Obama’s interventionist market must, by definition, totally collapse because it’s not a true market.  Empirically, that’s exactly what happens in all socialist and fascist economies:  namely, the economic dictators destroy the very market conditions they need to be successful and, thus, everything goes awry.

   So what’s the real solution to Idaho’s financial meltdown and high unemployment?

   The first task is to stop the deficit spending and inflation of our U.S. Dollar.  That means our politicians at all levels should stop intervening into the market with earmarks and Obama’s Ridiculous Fake Stimulus Scams.  There are no such things as “Multiplier Effects” and “Stimulus Packages” and “Targeted Inflation Rates” that can be successfully managed by a central bank or anybody else.  It’s a Big Myth.

   The second task is to get back to a sound monetary system.  Gold would be nice -- with no central bankers and no fractional reserve banking.

   And the very last thing we DON’T need is for Boise Mayor Dave Bieter and U.S. Idaho Senator Mike Crapo to put forth ridiculous spending projects such as a $65 Million Streetcar system for 2.6 miles in downtown Boise.  Will Yosemite Sam please slap these two “idjits” upside their fascist economic noggins?  And while you’re at it, will somebody please inform teetering-on-bankrupt newspaper parent to the Idaho Statesman, McClatchy Co, that they have a coupla Boise editors running around Idaho pretending to know how to manage the U.S. economy and run a Boise Streetcar company named Desire?  Gimme a break, you economic clowns down at the Statesman news rag.  Just give us the latest fishing reports and spare us your Keynesian Fairytale Visions for The Treasure Valley, will ya?  Thanks. – FM Duck

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