Powder Blue Report

News, finance, politics, sports, and fun from the west coast

Saturday, January 31, 2009

So How Would A 21st Century Gold Standard Work?

Ron Paul was on Fox Business yesterday and talked about how some type of gold standard would work today.

Wednesday, January 28, 2009

Quote Of The Day

"If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property, until their children will wake up homeless on the continent their fathers occupied. The issuing of money should be taken from all banks and restored to Congress and the People to Whom it belongs!”

Thomas Jefferson

Tuesday, January 20, 2009

The Allan Bartlett 30 Day Action Plan(if I ever became President)

This would be my 30 day action plan to turn the country around if I was elected President. Apologies to Lew Rockwell who first came up with this list over 20 years ago. It's just as good of a plan today as it was back in 1991.

DAY ONE: The federal income tax is abolished and April 15th is declared a national holiday. The 40% reduction in federal revenues is matched by a 40% cut in spending. The budget is still almost twice as big as Jimmy Carter's.

DAY TWO: All other federal taxes are abolished, including the corporate income tax, the capital gains tax, the gasoline tax, "sin" taxes, excise taxes, etc. Businesses boom, and the few legitimate federal functions are funded with an inexpensive head tax. People who choose not to vote need not pay it. (Note: this was a mainstream view in the 19th century.)

DAY THREE: The federal government sells all its land, freeing up tens of millions of acres for development, mining, farming, forestry, oil drilling, private parks, etc. The government uses the revenue to pay off the national debt and other liabilities.

DAY FOUR: The minimum wage is reduced to zero, creating jobs for ex-federal bureaucrats at their market wage. All pro-union laws and regulations are scrapped. The jobless rate falls dramatically.

DAY FIVE: The Bureau of Labor Statistics, like the rest of the Labor Department, is sent to that big hiring hall in the sky. Without detailed economic statistics, future economic planners will be blind and deaf.

DAY SIX: The Department of Commerce is abolished. Big business has to make its own way in the world, without subsidies and privileges at the expense of its competitors and customers.

DAY SEVEN: The plug is pulled on the Department of Energy. Oil and gas prices plummet.

DAY EIGHT: All regulatory agencies, from the Interstate Commerce Commission to the Federal Trade Commission, are deep-sixed. Competition is legalized.

DAY NINE: HUD is squashed like a bug. There's a building boom in cheap, private, apartments.

DAY TEN: The interstate highways reopen as private businesses. Road entrepreneurs price travel according to consumer demand. Using modern technology, drivers get bills once a month. Credit risks – and drunks and dangerous drivers – aren't allowed on the road. Non-drivers no longer subsidize car owners.

DAY ELEVEN: Government welfare is wiped out. Bums work or starve. The deserving poor find a cornucopia of private services designed to make them independent. Private charity explodes, as the American people, already the most generous in the world, find their incomes almost doubled, thanks to the tax cuts.

DAY TWELVE: The Federal Reserve closes its open-market operations and stops protecting the banking industry from competition. But banks can now engage in all the non-bank financial activities previously forbidden to them. The business cycle, which is caused by monetary expansion through the credit markets, is liquidated.

DAY THIRTEEN: Federal deposit insurance is scrapped. All insured deposits are redeemed from federal assets, which include the personal assets of high-level government employees. The threat of bank runs forces banks to keep 100% reserves for their demand deposits, and prudent reserves on all other accounts. There are no more inherently bankrupt banks propped up by the government, at taxpayer expense, and no more bail-outs.

DAY FOURTEEN: The shaky fiat dollar is defined in terms of gold, with the ratio determined by dividing the government's gold stock by all existing dollars on that day.

DAY FIFTEEN: The federal government sells National and Dulles airports to the highest bidder, and stops all subsidies to other socialist airports around the country. All constraints on airline prices and service cease. It costs more to fly during peak hours than off-peak, but overall, air travel drops in price.

DAY SIXTEEN: All government regulations that create and sustain cartels are abolished, including those for the post office, telephones, television, radio, and cable TV. Prices plummet, and a host of new and unforeseen services becomes available.

DAY SEVENTEEN: Centrally planned agriculture, as imposed by Hoover and Roosevelt, is repealed: there are no more subsidies, payments-in-kind, marketing orders, low-interest loans, etc. Farm prices drop. Entrepreneurial farmers get rich. Welfare farmers go into another line of work. The poor eat like kings.

DAY EIGHTEEN: The Justice Department shutters its anti-trust division. Companies, big and small, are free to merge – up, down, or sideways. Stockholders can buy any other company, or sell their stock to anyone else. Marginal producers can no longer battle their competitors with bureaucratic weapons.

DAY NINETEEN: The Department of Education flunks the constitutionality test, and is kicked out. Private charities set up remedial reading and writing programs for the former bureaucrats. Federally subsidized sex education and other anti-family programs go out of business. Local school districts become responsive to parents or close, pressured by a fast-growing private school sector (which many more parents can now afford).

DAY TWENTY: All federal monuments are sold, in some cases to non-profit groups based on the Mt. Vernon Ladies Association, which owns and runs George Washington's home. The VFW buys the Vietnam memorial. There is much bidding for the Jefferson and Washington monuments. Nobody wants FDR's, so it's torn down and the land sold to a farmer. (With the federal government cut back to its constitutional size, much of Washington reverts to productive uses like agriculture, as in late 18th century.)

DAY TWENTY-ONE: The computerized financial and political dossier maintained by the government on every American is erased. The public wanders through the federal offices to make sure, in a reprise of the East Berliners' visits to Stasi headquarters.

DAY TWENTY-TWO: Equal rights are granted to all Americans, even members of non-victim groups. There is no affirmative action, no quotas, no set-asides, no public accommodations laws. Private property and freedom of association are fully restored.

DAY TWENTY-THREE: The EPA is cleaned out, with all "clean air" and similar big-government laws repealed. Ten thousand lawyers leap from their balconies. Private property is established in air and water. Americans harmed by pollution are free to sue the polluters, who are no longer protected by the federal government.

DAY TWENTY-FOUR: Americans are given complete freedom of contract, restoring rationality to malpractice and product liability law.

DAY TWENTY-FIVE: Government scrambles for more assets to sell (i.e., the National Zoo, also known as Washington, D.C.) to pay off the liabilities of the privatized Social Security system.

DAY TWENTY-SIX: Porno artists have to earn their own livings, as the National Endowment for the Arts tries to raise its budget through sidewalk painting sales.

DAY TWENTY-SEVEN: Foreign aid is outlawed as unconstitutional, unjust, and un-economic. Foreign politicians have to steal their own money. The World Bank, IMF, and United Nations close their super-luxurious doors.

DAY TWENTY-EIGHT: The American people are given the unrestricted right to keep and bear arms.

DAY TWENTY-NINE: The Defense Department is reoriented towards defense. American troops come home from all around the world. We adopt a policy of armed neutrality, remembering the Founding Fathers' teaching that we could not have an empire abroad and a constitutional republic at home.

DAY THIRTY: All tariffs, quotas, and trade agreements are put through the shredder. Americans can trade with anyone in the world, without barriers or subsidies. Japanese car prices drop an immediate 25%.

In just 30 exhilarating days, we have established the outlines of free market. Radical? Maybe so. Me, I can't wait until Month Two.

Friday, January 16, 2009

A Mixed Bag Of Verdicts

The Mike Carona jury has spoken. He was found not guilty on counts one through five which consisted of conspiracy and mail fraud charges. He was convicted of the sixth count of witness tampering. There's really not much to celebrate here except the fact that Mike Carona is now a convicted felon and his political career is over. How the jury could not convict on the other charges is baffling. Once again I will never try to think I know what will happen in a given trial. It's just way to unpredictable. It remains to be seen if Carona will even receive any jail time.

Standby For Carona Verdict at 11:45am This Morning!!!!!

Thursday, January 15, 2009

OC GOP Central Committee Officer Races Taking Shape

Over the last few days I have been receiving emails & calls from prospective candidates for First Vice Chair and Assistant Treasurer for the Executive Committee of the Orange County Republican Central Committee. As a newly elected member, I will have a chance to cast my vote in these elections. Fred Whitaker is the incumbent First Vice Chair and he is running for re-election. He is being challenged by former Cypress Mayor Mike McGill. The other race is for Assistant Treasurer. Capistrano School Trustee Anna Bryson is running for re-election and she is being challenged by Zonya Townsend. I have decided that having some competent fresh faces would be a good thing and much needed on the Executive Committee. Therefore I have decided to support Mike McGill & Zonya Townsend.

I have no illusions about what lies ahead for our party. It is going to be a tough road to get the party back to its core message of freedom & smaller limited government. There's also the matter of the party going to the mat for former disgraced Sheriff Mike Carona. Again it was one of the main reasons why I ran for the seat. Most of the current officers on the board supported that endorsement despite a mountain of evidence that said we shouldn't have waded into that race, yet they still rammed through the endorsement. It is going to be an interesting evening next Monday at the Hyatt Irvine. All guests are welcome to attend.

Tuesday, January 13, 2009

Carona Verdict Could Happen Today

The trial of former sheriff Mike Carona is about to come to a final conclusion. The jury is back deliberating today after a weekend break. The best place to get the news first of the verdict is by following the Twitter feed of OC Crimescene from the OC Register. All signs point to a guilty verdict, but I'm gonna wait to hear what they say before I start celebrating.