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Another Excellent Qoute

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June 23, 2011 – Comments (11)

"For someone who has no real interest in challenging government claims or undermining official actions, these policies will have no direct, perceptible effect.  It's always true that those who are supportive of institutions of authority or who otherwise have no interest in challenging them are never targeted by measures of this sort; why would they be?  That's why supporters of all Presidents -- Republicans during the Bush years and now Democratic loyalists under Obama -- are rarely disturbed by such developments." - Glenn Grenwald, Salon.com

The policies in question are the increasing Obama administration attacks on whistleblowers, the free press, and the 4th amendment.  These attacks are continuations of Bush/Cheney policies, only under Obama the attacks have become more vengeful. 

So much for the Moral Leader of Our Time, the Nobel Peace Prize winner, and the man who attacked the Bush administration's unconstitutional actions on many occasions.  In this respect, Obama is more like Socialist dictators such as Chavez than any Glenn Beck/Michael Savage loyalist could understand.  It's not really the economic ideas that make Obama a closet Socialist (many of his most significant economic undertakings, such as Obamacare, have been closer to Fascism), but rather his administration's intense desire to silence opposition - especially left wing opposition - that makes him similar to other Socialist dictators.  It is a common theme among Socialists to extinguish dissent from within their own ranks with greater vigor than dissent from without. Here, Obama excels.

To understand just how pernicious and downright evil the Obama administration has become, I invite you to read Greenwald's latest article, which is really the tip of the iceberg.

Greenwald's excellent observation that I quoted above resonates for me, and should for many Fools here, as we have witnessed many denials of the creeping totalitarian state in debates right here on this website.  As Glenn points out, those who support the state are less likely to feel these effects.  That should be unsurprising, but I admit that I was not prepared for these stubborn denials.

Another excellent quote from Greenwald's piece drives home the importance of this debate:

"Uncontrolled search and seizure is one of the first and most effective weapons in the arsenal of every arbitrary government," Justice Robert H. Jackson, the former chief United States prosecutor at the Nuremberg trials, wrote in 1949. "Among deprivations of rights, none is so effective in cowing a population, crushing the spirit of the individual and putting terror in every heart." (Emphasis in article)

On Fool, we discuss many topics. Investors are interesting people from all walks of life. But a high level of intellectual curiosity appears to be a common trait of CAPS Fools.  That's not stated to butter you up, or any of that nonsense.  It's what I see.  It's why I keep coming back.

So I bring up this topic.  Does it relate directly to investing?  Not really, although it is correct to note societies that respect property rights are more favorable to investors than those who don't.  Should the behavior exhibited by the Bush and Obama administrations matter to investors?  I think so. 

David in Qatar

11 Comments – Post Your Own

#1) On June 23, 2011 at 11:24 PM, kdakota630 (29.56) wrote:

Your mention of Justice Jackson reminded me of this video.  I'm not sure if you've seen it before, but I'm sure you'll find it worthwhile if you haven't.

[I hope I'm not too far off topic of your blog.]

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#2) On June 23, 2011 at 11:45 PM, FleaBagger (28.92) wrote:

David - right on! Keep coming back to CAPS. I think you're right about the high level of intellectual integrity here, and speaking for myself, you can go back and look at the pro-war conservative rants I posted a few years ago, but I changed my mind when I realized I was wrong. I believe it happens all the time. Keep telling the truth, and people who love the truth will flock to you.

kdakota - I love that video, but more and more statist judges are putting people in jail, in violation of the 5th Amendment, for what they call "obstruction of justice" or "perjury" - when really it's neither, just innocent people asserting their Constitutional rights.

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#3) On June 24, 2011 at 8:57 AM, Jbay76 (< 20) wrote:

I tend to beleive that posts like this are appropriate here in an investing atmosphere.  Afterall, government actions affect investor sentiment as much as earning reports.  Additionally, as we have seen in the past, government also has the power, not neccesarily the right, to make one investment illegal after years of being considered legal, read PM investing in the '70's. Lastly, they have shown a willingness to determine who wins in a "capitalistic market" by bailing out a few so that the bailed out can aqcuire thoe that did not.  I can go on, but I have to go to a meeting.

Know your enemy

J

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#4) On June 24, 2011 at 10:26 AM, catoismymotor (24.55) wrote:

The way the government operates it effects so many (too many) aspects of our daily lives. In the past it has shaped my decision on which way to commute to work (avoid speed traps) or what to purchase for my portolio. Below I'll give you and example of the latter.

Out of necessity I've only added a little money to the market since last November. I do not plan on adding any new money until this November/December. I have decided to spend this timeout period being a bloodhound sniffing for companies that reek of value. I've uncovered a good number of those. Now my concerns turn to the following: What impact will governmental policies, trends, and administration changes have on my selected favorites? One company I favor is a partnership. Partnerships, as I am learning, can be a real pain with regard to taxes. Add to that the partnership is based in a foreign country. So I have domestic and foreign government policies to consider *and* now the IRS to worry about. The partnership in question has assets all over the globe: North America, South America, Australia and Asia. That kind of global diversity can be good but you must also consider the impact of regional governments on the company. I'm sure you remember the proposed 40% tax on mining companies that was being discussed last year by Australia and the threatened nationalization of some industries in South America. Even the rumor of governments thinking of taking such actions can cause a company to take a hit. Luckily I have time to weigh the partnership against my other candidates. It may win the day or it may not. Time will tell. 

Every company I own does business across the globe. A fair amount of trust is put in the ability of these companies to weigh the risks vs. the rewards as I have, if not better. This is where a track record of success and clear thinking on behalf of the governing body is essential for me to see before I invest. I'm not made of money. When I buy I do it for the long term, consider myself as a true owner of the company.

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#5) On June 24, 2011 at 10:53 AM, kdakota630 (29.56) wrote:

The policies in question are the increasing Obama administration attacks on whistleblowers, the free press, and the 4th amendment.  These attacks are continuations of Bush/Cheney policies, only under Obama the attacks have become more vengeful. 

Here's a video in tune with the tenor of the blog.  It's only 5 minutes long, but only the first minute or so is the interesting part:

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#6) On June 24, 2011 at 5:19 PM, rfaramir (29.32) wrote:

David, you recently had a mostly fruitless conversation with a fellow CAPS member that can be explained by Greenwald:

"Nobody wants to believe that they have been put in a state of fear, that they are intimidated, so rationalizations are often contrived: I don't perceive any violations of my rights because there's nothing I want to do that I'm not able to do."

Excellent article. And here I thought Salon was only inhabited by left-statists...

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#7) On June 24, 2011 at 11:30 PM, skypilot2005 (< 20) wrote:

All,

I just threw up some Letters To The Editor from today's WSJ on David's Keynes, The Man post.

The starter is titled:

 Tired, Old Keynesian Plan Is Hauled Out Of The Trunk

enjoy

 

Sky Pilot

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#8) On June 25, 2011 at 10:42 AM, whereaminow (20.23) wrote:

kdak,

Thanks for the vids. Loved em!

flea and jbay,

Your support makes me smile.

rfaramir,

Glenn is pretty darn great on foreign policy and civil rights. His column is a daily read for me.

skypilot,

Let me know if you are looking for more criticisms of Keynes. I've got a rolodex full of economists that have done excellent work on Keynesianism.

David in Qatar

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#9) On June 25, 2011 at 12:10 PM, wolfman225 (63.40) wrote:

kdak--

Could you please provide some back story on the vid of the reporter being arrested and removed from the D.C. Taxi Commission meeting?  What was the subject of the meeting (why was it called)?  Was it the presenters or the audience members who disagreed with his presence and recording (I noticed that the great majority of the audience was African-American, while he was not.  Was that a factor?)?  I couldn't make out whether the noise in the background was for or against the reporter.  Was he actually arrested or simply removed, cited, and released?

Either way, it is disturbing to think that anyone, with or without "press credentials" could be arrested for trying to record and document an event with public officials that is "open to the public".

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#10) On June 26, 2011 at 7:42 AM, skypilot2005 (< 20) wrote:

On June 25, 2011 at 10:42 AM, whereaminow (89.37) wrote:

"skypilot,

Let me know if you are looking for more criticisms of Keynes. I've got a rolodex full of economists that have done excellent work on Keynesianism."

Thanks. 

I think a permanent “Keynes: The Facts” blog would be nice with rock - solid quotes, references and citations.

That way we can copy and paste them with ease…..   

Free up valuable time for serious discussions…….

:)

 

Sky Pilot

 

 

 

 

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#11) On June 26, 2011 at 4:40 PM, kdakota630 (29.56) wrote:

wolfman225

Sorry, but I can't provide any information other than what was in the video.  I was hoping for more myself, but like you I found the video disturbing enough and along the lines of David's blog so decided to share it.

The thought that you can be arrested for "disobeying an order" is ridiculous.  I guess one can only be thankful that the officer wasn't an aggressive homosexual with that mindset.

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