Part Three: The Industrious American


We are seeing right before our eyes and almost daily the dangers and consequences of socialism. Greece, Portugal, Italy, Ireland and Spain. (Comments on Spain below) Peter Ferrara commented on the recent elections in Great Britain wherein the Tories lost. "The political context for all this was similar to what America suffers today. The Brits had labored for years under a left-wing government that has trashed the nation's finances with runaway spending and explosive deficits, while burdening taxpayers and the economy with counter-productive taxes."

Again to the august Lawrence Kudlow: "The United States and Western countries in Europe have lurched left in recent years. It's bad for credit. It's bad for banks and . . . it's a bloody mess." One major problem here is how this excessive debt hampers new business, hence new job creation.

Steve Forbes said: " . . . the need to finance Uncle Sam's deficit crowds out other credit seekers." Add to this the government imposing new regulations and requirements on the financial industry and business and you have a cesspool of stagnation. "Even if the Federal Reserve gets around to strengthening the dollar—which would do wonders, to get the economy really moving again—we still face a mammoth and growing problem: the government's increasing domination and distortion of the capital markets." (Ibid. Forbes)

 Thomas Jefferson said:

"Experience has shown that under any form of government those entrusted with power have in time, and by slow operations, perverted it into tyranny."

"Whatever there is of greatness in the United States, or indeed in any other country, is due to labor. "The laborer is the author of all greatness and wealth. Without labor there would be no government, and no leading class, and nothing to preserve." —Ulysses S. Grant

Work, enjoying the fruits of one's labors is very American. It is our way of life. There are always those waiting in the lurches that want to take it away, all in the name of fairness. Read this quote from James Allen, the noted essayist: "They who have no control purpose in their life fall an easy prey to petty worries, fears, troubles, and self-pityings, and of which are indications of weakness which lead to failure, unhappiness, and loss."

Money and PoliticsWade Cook