Archive for October, 2012

US follows Europe to Socialism

Monday, October 29th, 2012

Big bank boss: U.S. showing signs of socialism 10-28-12

Warns growing dependency may force America to brink of insolvency

The CEO of a major European bank is warning that swelling the ranks of people dependent upon government may help to win elections, but it sets nations on an irreversible decline into socialism.

Lars Christiansen is CEO at Denmark-based Saxo bank, which has a strong presence in many areas of Europe. He told WND’s Greg Corombos the hallmarks of socialism are evident throughout Europe and increasingly in the U.S.

 “European socialism is a system whereby there’s very generous entitlements, lot of social transfer payments (and) a tendency to victimize people so they go on social welfare instead of actually being active in the labor market,” Christensen said. “The real risk is when too large a component of the total population are on social transfer systems they become self-sustaining and increase simply because a very large part of the voter base will have no interest in promoting free markets and liberty but will have much more direct interest in increasing the size of government and state and of the transfer payments that they benefit from.”

Christensen said he fears the U.S. is determined to go down the same path, despite seeing what happens in the end. He argued that many U.S. politicians have a “romanticized view” of the public services people think are free and the ever-growing number of entitlement programs.

He said southern Europe is very far down this path, with Greece routinely teetering on the brink of insolvency and the likes of Spain and Italy heading closer to that chaos. But he added that other areas of Europe are on the same road to failure. They just aren’t as far down that road.

“There’s only about 35 percent of the population that works in the private sector, generating all the necessary wealth for the entire system,” Christensen said of the people in his native Denmark. “As you can imagine in a system where 65 percent of the voters basically have an intrinsic interest in receiving more from the government, that’s not a very healthy place to develop capitalist values and develop economic growth. It is not something to be envied. It is not something that is desirable. It’s important that the U.S. doesn’t go down that route.”

Denmark is nowhere near the debt crisis unfolding in Greece, but Christensen said that’s due to a massive tax burden, which reaches 49 percent of gross domestic product compared to 27 percent in the U.S. To pay for greater entitlement programs, income taxes are at 60 percent in Denmark, and capital gains rates are at 42 percent. There’s a 25 percent sales tax and citizens are paying $10 per gallon of gasoline.

Christensen believes the upcoming elections will have a profound impact on the long-term priorities of our nation, but he sees America with one major advantage that the other nations do not.

“It’s much more part of your nature to value freedom to value creativity to value the American dream,” he said. “We don’t have much of that in Europe.”


What It Means to Be an American

Thursday, October 25th, 2012

I spoke of the dwindling personal privacy in the United States, ominous growth of government, and the increasing intrusion of Big Brother into our everyday lives incensed me. I said I felt compelled to stand up for principle.

“The United States of America” is a warm but fuzzy concept in the mind of the average American. It is a kaleidoscope of images evoked by the phrases we learned in childhood – land of the pilgrims’ pride … amber waves of grain … purple mountains’ majesty … America the beautiful from sea to shining sea … but they fail to bring us close to a real definition of what America is, or what it means to be an American.

Liberty Defines the USA

An essay by Strategic Investment Editor James Dale Davidson asked the trenchant question: What defines America?  Is it geography? No, political boundaries are ever changing, and it is clear that the United States could have been created anywhere on earth as easily as in North America.  Is it race or culture? No, America has always been the great melting pot, an amalgam of many races, many nationalities and a thousand cultures.  Is it religion? No, the nation was founded on the principle of freedom of religion.

The United States of America was not founded on geography, race, culture or religion. It was founded on principle – the principle of liberty. Liberty was the battle cry – “Give me liberty or give me death” – is one of the most celebrated quotes in American history. The Statue of Liberty is the symbol of that nation. The Liberty Bell sounded the nation’s birth. “LIBERTY” is embossed on every coin. Clearly, liberty is the defining attribute of the USA.

What then is the defining attribute of a patriotic American?

Certainly, it could not be that the individual should kneel and unquestioningly accept the authority of the Nanny State – paying any tribute it demands and obeying all its edicts just because it wraps itself in symbols – the Stars and Stripes, or the Presidential Seal or the Washington Monument.

True patriotism to America must involve a dedication to the same principles that motivated our Founding Fathers when they banded together in rebellion against the tyranny of King George. If there was one thing our Founding Fathers would have wanted to see instilled in the American spirit, it would be a belief that all individuals are endowed with the unalienable right to life, liberty and the pursuit of happiness.

Real American patriots will stand true to the principles of the American Revolution, and refuse to kneel before state power. If this means protecting their assets or their freedom by putting them beyond the reach of a tyrant, then that is what, in good conscience, they must do. In that act, they would follow the lead of the millions of immigrants who fled state tyranny in their own countries in search of liberty in America.

By John Pugsley

Canada’s Socilaized Medicine is bankrupt

Thursday, October 25th, 2012

Younger generation unable to pay baby-boomers Socialized Medicine Jamie Komarnicki, Calgary HeraldOctober 17, 2012

Younger generations cannot and might not be willing to cover the looming medical system tab for baby boomers—University of Calgary.

CALGARY — Canada’s “pay-as-you-go” health funding model hasn’t socked away enough cash to care for aging baby-boomers — and younger generations might not be willing to cover the looming medical system tab, Calgary researchers say.  A new University of Calgary School of Public Policy report suggests today’s funding model that sees governments set aside current tax revenues to pay for today’s health costs is unsustainable.  Public health care is set to get more expensive as baby boomers reach retirement and begin to rely more heavily on the health-care system, said Herb Emery, one of the authors of the report.

But the younger generation whose tax dollars will pay for those higher medical costs is a much smaller group.  If Canadians intend to preserve a publicly funded medicare system that offers a similar level of service in the future as it does today, under the pay-as-you-go model, eventually peak taxes for Canadians born after 1988 will end up twice as high as the peak taxes that the oldest baby boomers paid.

“The ‘pay-as-you-go’ model has become like a Ponzi scheme, where those who got in early enough make out nicely, while those who arrive late stand to suffer a serious financial blow.”

According to the report, a “pre-funding model” — charging people today for their future health care liabilities — isn’t an option, because it’s too late to collect more taxes from Canadians aged 45 to 65.

Instead, governments must bolster wellness and other health-care system reforms, the report suggests. That means putting money into home care for the elderly and managing chronic diseases, which gobble up doctor and hospital resources.

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