Hillary: Deceit, Debt, & Delusions (Part 1)

Tyler Durden's picture

Submitted by Jim Quinn via The Burning Platform blog,

“While every group has certain economic interests identical with those of all groups, every group has also, as we shall see, interests antagonistic to those of all other groups. While certain public policies would in the long run benefit everybody, other policies would benefit one group only at the expense of all other groups. The group that would benefit by such policies, having such a direct interest in them, will argue for them plausibly and persistently. It will hire the best buyable minds to devote their whole time to presenting its case. And it will finally either convince the general public that its case is sound, or so befuddle it that clear thinking on the subject becomes next to impossible.”
? Henry Hazlitt, Economics in One Lesson

One of the benefits of running a blog for the last seven years has been interacting with so many smart people. During these daily interactions I am introduced to new ideas, different points of view, and become acquainted with a plethora of great thinkers. When I was younger, before kids, long commutes, running a blog and being beaten down by life, I was a voracious reader. My regular commenters direct me towards writers and books I wish I had read in my twenties rather than my fifties.

But I guess it is never too late to learn something new. I’ve now read the first two of the four books I bought myself at Christmas: The Law by Frederic Bastiat; Economics in One Lesson by Henry Hazlitt; The Road to Serfdom by F.A. Hayek; and Tragedy & Hope by Carroll Quigley. What is so striking after reading The Law (written in 1850) and Economics in One Lesson (written in 1946) is humanity’s foibles, belief in fallacies, and ignorance of economics hasn’t changed over the last two centuries.

Bastiat & Hazlitt are so clear and concise in their obliteration of the fallacies that socialism and government control of the economy are beneficial to society, that only a brain dead liberal, Ivy League economist, mainstream media shill, or a corrupt politician like Hillary Clinton wouldn’t understand. Clinton and her government interventionist minions play the game of promising “free” goodies to their special interest constituents, while promising to punish their enemies (the rich, deplorable middle class, coal industry, gun owners, religious conservatives, entrepreneurs, Russia, Assad).

The narrow minded focus of mathematically challenged liberals is to get elected by any means necessary. They tout the benefits of their new programs on the particular group they are buying votes from, without mentioning the costs, detriments or long term damage to the country and unborn generations. Politicians count on the ignorance of the populace when presenting simplistic fallacious policies that are economically damaging to the country. That’s how you end up $19.5 trillion in debt, with $200 trillion of unfunded welfare liabilities.

Corrupt politicians sell their deceits to a government educated dumbed down population by hiring highly educated lackey economist whores who sell their “expert” opinion to the highest bidder. A vast swath of the American public has been conditioned through government education and had their minds molded by establishment manipulators to feel rather than think. People believe untruths and half-truths because they have been conditioned to do so.

They say the truth will set you free. But in today’s society, silence about the truth will keep the masses enslaved in passivity and apathy. Huxley realized 85 years ago the truth could be drowned in a sea of distractions and irrelevance. Those who have controlled the unseen mechanisms of society through the educational system, mass media, think tanks, “experts” and corrupt politicians have successfully used propaganda to instill ideas and beliefs in the minds of the masses having no basis in fact or reality.

The unseen government behind the curtain represents the Deep State. This hybrid association of key players from Wall Street, Silicon Valley, mega-corporations, the corporate media, Madison Avenue, the Federal Reserve, shadowy billionaires, and bought off politician hacks, effectively governs the United States with little or no consent of the governed. It’s they who pull the wires directing the public mind. It’s they who choose your leaders. It’s they who reap the economic benefits of financial, trade, and tax legislation.

It’s they who are saved by their puppets at the Federal Reserve when one of their financial fraud schemes blows up the world. It’s they who control the currency, using it to pillage the wealth of the nation and subjugating the peasants to debt, inflation and squalor. These demagogues promote nonsensical economic policies and solutions designed to mislead an intellectually lazy, iGadget distracted populace into voting for their hand-picked candidate. They picked a black figurehead last time and now they are playing the woman card with a morally bankrupt congenital lying shrew. Intellect, morality, civic responsibility and truthfulness not required or desired. This political campaign can be summed up by this Hazlitt quote:

“It is often sadly remarked that the bad economists present their errors to the public better than the good economists present their truths. It is often complained that demagogues can be more plausible in putting forward economic nonsense from the platform than the honest men who try to show what is wrong with it.

But the basic reason for this ought not to be mysterious. The reason is that the demagogues and bad economists are presenting half-truths. They are speaking only of the immediate effect of a proposed policy or its effect upon a single group. But to consider all the chief effects of a proposed course on everybody often requires a long, complicated, and dull chain of reasoning. Most of the audience finds this chain of reasoning difficult to follow and soon becomes bored and inattentive. The bad economists rationalize this intellectual debility and laziness by assuring the audience that it need not even attempt to follow the reasoning or judge it on its merits because it is only “classicism” or “laissez faire” or “capitalist apologetics” or whatever other term of abuse may happen to strike them as effective.” ? Henry Hazlitt, Economics in One Lesson

Hillary Clinton and her paid for bad economic “experts” propose new spending programs with no valid means for paying the bill. As expected, they count on the intellectual laziness of the electorate by declaring it will be paid for by “taxing the rich”. This classic rallying cry of liberals for decades is nonsense that can be discredited in short order by the facts.  Taxing the rich will never yield enough revenue to pay for all the additional vote buying spending schemes because the rich alter their behavior in retort to increases in tax rates. Federal tax revenue has been exceptionally constant at an average 17.4% of gross domestic product in the last 50 years even as the top marginal tax rate fluctuated between 91% and 28%.

The surge in 2000 was due to the REDUCTION in the capital gains tax rate in 1997, coupled with the Fed’s first major bubble – the internet boom. Hillary’s boasting about Bill’s “surpluses” is disingenuous as gridlock in Congress led to no new spending, Greenspan created a bubble in pets.com and hundreds of other worthless internet companies and lower capital gains tax rates led to a major inflow of taxes into government coffers. And Hillary’s lies about Bill’s surpluses can be dispatched by the facts.

The national debt was $4.2 trillion on the day he took office and $5.7 trillion on the day he left, a 36% increase, with no year where the national debt declined. Fake government accounting doesn’t trump the facts. But he did repeal Glass Steagall, allowing Wall Street banks free rein to pillage, steal, defraud, and destroy the global financial system. The $159 million in speaking fees (aka bribes/payoffs) siphoned from Wall Street banks and other corporate interests by Hillary and Bill were a great big thank you from the beneficiaries of their deceit.

No matter what politicians promise or legislate, Federal tax receipts will never exceed 20% of GDP. The “rich” who actually run the show and rig the system in their favor will always win. Even if Clinton is elected and able to put forth legislation to “tax the rich”, by the time it gets through Congress it will be 2,500 pages of exceptions, loopholes, and payoffs to important constituents who bought the most legislators. The increase in tax revenues will be DOA. But it will not be so when it comes to her spending proposals.

Increasing the minimum wage, equal pay for women, more war in the Middle East, free daycare and free college for all will happen in some form. That’s why Federal expenditures have averaged 20.2% of GDP for the last 50 years, are on automatic pilot to reach 23% in the next ten years, and will keep rising according to the CBO. This is a typical ploy for Washington politicians who make financial promises to garner votes, front load the benefits, push costs into the future, and never pay the bill. Well the bills are coming due and you the taxpayer are the one getting screwed – again.

Bastiat railed against the socialists ruining the French economic system in 1850. Hazlitt pointed out the fallacies of FDR’s New Deal make work schemes in 1946. Their facts and logic were unequivocally sound, but understanding math and unseen consequences have never been the strong point of humanity. It’s so much easier to believe “experts” like Larry Summers, Ben Bernanke, Paul Krugman and Hillary’s personal economist lapdog – Mark Zandi.

These shills for the establishment purposefully ignore facts and mislead the public when they arrogantly expound upon economic issues in an untruthful manner. These feckless captured hacks ignore basic truths, articulated by Hazlitt, that everyone should know:

Everything we get must in some way be paid for; Government has nothing to give to someone without first taking it from someone else; Increased handouts to selected groups mean increased taxes, or increased deficits and increased inflation.

These Keynesian worshiping Ivy League apparatchiks are just recycling ancient ideas which have failed throughout the ages. They are willfully ignorant of the previous failures, as they prefer a big fat payday from the establishment for perpetuating fallacies which keep the peasants misinformed and confused. These morally bankrupt men are what pass for brilliant thought leaders in this day and age. No wonder the country is on the edge of an economic abyss.

Both parties have embraced the “deficits don’t matter” mantra because nothing bad has happened so far. Their ignorance of the past will condemn us to repeating the errors of history and experiencing the disastrous consequences which always follows the folly of believing you can get something for nothing.

“The ideas which now pass for brilliant innovations and advances are in fact mere revivals of ancient errors, and a further proof of the dictum that those who are ignorant of the past are condemned to repeat it.” ? Henry Hazlitt, Economics in One Lesson

The common theme from ancient obfuscators during the time of Adam Smith down through the ages to the current gaggle of sophists is that economics is too complicated for the average person to understand; therefore they should not even attempt to follow the reasoning or judge the merits of asinine voodoo economic tripe sold by arrogant Ivy League academics on behalf of the establishment for blood money. These traitorous reprobates do not give a rat’s ass about the citizens of this country, the long-term future of the country, or the truth. Their sole concern is for their reputation and personal gain from peddling false narratives on behalf of crooked politicians and wealthy bankers.

Despite overwhelming factual evidence that crackpot Keynesian spending machinations; debasing the currency; interest rate manipulation; globalization; perpetual war; incurring unpayable levels of debt; making $200 trillion of unfunded welfare promises; scorning and ridiculing those who propose living within our means; record levels of wealth inequality; stagnant wages; the loss of good paying jobs; and permanent recessionary conditions for 90% of America; has created a seething anger across the land, Hillary Clinton and her establishment flunkies propose doubling down on those same failed policies.

The elitists in charge disparage and deride prudence, saving, minimizing debt, marriage, working, and all beneficial traits which produce a strong family unit. They glorify degeneracy, shallow displays of idiocracy, dependency, hate, censorship, and moral turpitude. Adam Smith noted the irrationality of bad economists in 1776 at the outset of this now crumbling empire:

“What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.”

In Part Two of this article I will tackle the biggest single issue confronting this nation, which is never broached by Hillary Clinton or any politician because the debts they have recklessly run up will inevitably destroy our country.

 

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MillionDollarBonus_'s picture

This article fails to recognize that Hillary does in fact have a comprehensive jobs plan, verified by top economists. It's called the 100-day job plan, and you can read about it on her website. The plan will boost American jobs within 100-days by doing the following:

  1. Invest in our infrastructure
  2. Invest in our manufacturing
  3. Make America the clean energy superpower of the 21st century
  4. Support scientific research and technological innovation

Her plan is verified and supported by top economists all over the world, and it's guaranteed to boost our economy by billions of dollars.

Why Undocumented Immigrants Should be Allowed to Vote

BennyBoy's picture

 

"Her plan is verified and supported by top economists all over the world, and it's guaranteed to boost our economy by billions of dollars."

A billion plus a billion is billions! She thinks BIG!

The best part: She'll boost the debt by trillions and trillons of dollars! She knows GROWTH!

WordSmith2013's picture
Hillary Clinton Is Unlawfully Concealing Her Parkinson’s Disease

 

http://themillenniumreport.com/2016/10/hillary-has-parkinsons-debilitati...

 

 

Yet another deception: 

"Hillary Takes Another 3-Day Drug Holiday Prior to 2nd Debate"

 

 

Paul Kersey's picture

Even if Trump loses, a Clinton victory will be a Pyrrhic victory. Historically, Hillary clinton will become the most disrespected and crippled individual to ever hold the country's second highest office (CEO of Goldman Sachs being the country's highest office).

Erek's picture

More like the 100-day blow-job-plan.

Keeps all the cocksuckers busy.

Paul Kersey's picture

Clinton's plan within 100-days by doing the following:

1. Reward her Wall Street contributors by pushing through a cap and trade driven carbon credit derivatives exchange.

2. Re-install the Rubinite Treasury

3. Deepen a cold war with Russia to reward her war profiteer, defense contractor Clinton Foundation contributors.

4. Involve America in even more unilateral wars.

GUS100CORRINA's picture

MDB ...

YOU ARE SO LOST ... i COULD SAY MORE ... BUT NOT NOW.

"THE LIGHTS ARE ON BUT NOBODY IS HOME!"

Dick Buttkiss's picture

I upvoted you as usual, MDB, in praise of sarcasm so subtle that most continue not to get it.

Unreliable Narrator's picture

Lol.  "Top Economists."  Mythical creatures that bestow financial knowledge in the same manner that the Tooth Fairy invests in calcium and the Easter Bunny shoots candy from its ass.

Iconoclast421's picture

3 upvotes. lol. So now there are at least 3 paid shills here?

Dick Buttkiss's picture

You obviously didn't see the reason for my upvote above.

And my three (so far) downvoters obviously don't get it either.  You can go back and look at years of similar posts from MDB, who no doubt laughs out loud at the ZHers too dense to get his schtick.

MaleFeelings's picture

Article exposes elitist economists as sellout hacks.

The fact is completely lost on MDB as it proceeds to justify more political whoring because it's shilled by said elitist for sale hack establishment 'economists'.

Therefore MDB is a dumb whore. So gfy MDB. b^

Dave5150's picture

And none of that can be done unilaterally by the President.  But please, continue to enjoy life in Hillary's rectum.

Captain Chlamydia's picture
Hillary: Deceit, Debt, & Delusions (Part 1), soon to be followed by Parts 2 to 18.346 and the Bonus Addendum Parts I to IX
Stan Smith's picture

Well, she is right about that. Grubers all around.

Money Counterfeiter's picture
Money Counterfeiter (not verified) Oct 11, 2016 10:30 AM

"She's eaten more pussy than I have".Bill

Skiprrrdog's picture

If one gibbering, drooling, shrieking, lying, ancient, diaper wearing cunt wins, the entire planet loses...

Dick Buttkiss's picture

OK, as I predicted here in a previous article, Trump is not going to win this election. Nothing has changed. I stand by my prediction: Hillary Clinton is the next president of the United States. Don’t freak out. She’s going to own the mess Obama created and won’t have Bush to blame for it. Also, we are seeing the disintegration of the Republican Party right now as we speak. This means:

1) The Republican Party, losing the third presidential election in a row, will cease to be a viable political entity.

2) The Democratic Party will now be responsible for whatever happens now and has happened since 2008. — https://www.lewrockwell.com/lrc-blog/607353

I agree but believe that regardless of who the next president is, one or another state will secede before 2020, this one getting my vote: http://www.thetnm.org/vote

Skiprrrdog's picture

I am all in for the concept of seccession; if we cannot bring the losers in DC to heel, it is the only logical option left, it will either be that, or Civil War. Their original mandate was 'forts, ports and borders', and they are WAY past that. Let all of the lower 48 secede, have the border/coastal states responsible for their sections (the landlocked states could contribute to this effort), and .gov can go POUND. FUCKING. SAND.

Mini-Me's picture

Whenever I get depressed, I imagine Cankles in an orange jumpsuit picking up trash by the freeway.  Picks me up every time.

Skiprrrdog's picture

Yeah, and then even better, she gets run over by a car full of illegals with no insurance...

nightwish's picture

They say hillary stinks, as in literally. Smells like sulphur. 

She could already be dead and possessed by moloch himself

everlearner's picture

Trump and others said she has failed for the last 30 years. She failed the people that voted for her and she failed the whole Country. But she is extremelly successfull at robbing the people to enrich herself and her buddies.

She didn't fail, she just have other priorities - and those priorities DO NOT include improving our Nation.

 

innertrader's picture

AGREED, Billary hasn't "failed", she and her handlers have been exceedingly succesful over the last 30 years!  They already have our maturing children and anyone going to public schools!  I could go on for hours about this, but bottom line, I truly believe TRUMP is our last chance and only hope!!!  However, he is going to need ALL of our support every step of the way.  When he is elected, his life is going to be at stake, we know it and he knows it!!!  If he survives physically, every FED agency we pay for is going to do everything they can to destroy him.  WE ARE GOING TO HAVE TO STAND UP WITH HIM AND LET THE FEDS KNOW WE ARE NOT GOING TO TAKE THIS ANY LONGER, PERIOD!!!

InflammatoryResponse's picture

You need to get on Tragedy and Hope.  Very good read.

 

rlouis's picture

Hazlitt's "Economics in One Lesson" is a great book, a beautiful explanation of economics in only 183 pages - easy to read.  It is the perfect introduction to Hayek's "The Road to Serfdom," which is more challenging but explains why failure and dictatorship is the inevitable end point of every collectivist/socialist/communist scheme.

Unfortunately, as John Taylor Gatto proved quite persuasively with government source documents, as far back as the 1880s a primary purpose of compulsory public education has been to diminish people's ability to read.

Skiprrrdog's picture

Every time I look at a picture with Hyena Rodent Clinton's 'followers' in the back ground , "I see dead people"...

bobbydelgreco's picture

As an old english major i know  hazlitt died a pauper

SHsparx's picture

I'm no fan of Killary but that isn't an accurate quote. First of all, she didn't say it someone else did and that's actually a praphrase of what was said not a direct quote. Man, keep the truth alive, please.