We Ought to Join the EU
by Morgan WarstlerThe Greek Comedy that is playing out in Europe shows the tremendous impact one man can have on the world in his lifetime.
The fellow we owe an attaboy and backslap is Nobel Prize winner Robert Mundell, who I’d argue has done more for the cause of conservatism than maybe our own minor deity Ronald Regan. A short primer on Mundell:
- Father of Supply-side economics
- Father of the Euro
- Top adviser to Bejing on the Yuan
Imagine that. Saving us in the 80’s, Europe in 90’s, and China in this century. Preaching the same gospel wherever he goes… less currency is more.
I’m joking, lightly, about America joining the EU. I’d prefer we stop printing money, and convince them to adopt the dollar. Joking again, even less. It has been great fun watching old socialist Europe become fiscally conservative over the last eleven years as every member country must hold deficits to 3% of GDP. And for that we thank Mundell. Surely, delicious statements from across the pond, like this:
Germany cannot justify its taxpayers having to finance the lovely lives of the Greeks.
Informs our own politics here:
Just as Greece has to earn the Euros it needs, so must California earn the dollars it needs.
We must remain vigilant, but we here at home we should be heartened by two positive trends:
- States like NJ are attacking unfair public employee pensions to find balance and promote private economic growth.
- States like CA and NY, unable to gain federal bailouts, are demanding they get to keep their tax dollars at home.
A new age of Federalism is afoot. But to seize this opportunity and put America back on track, we need to change our rhetorical pitch…
Let CA keep her tax dollars. Let CA set her drug and abortion policy. Let CA negotiate poorly with her public employee unions. Let CA become Greece. Our founding fathers were not simply against Big Government, they were for state’s rights.
As fifty “United States,” and not just one “America,” we’ll be forced politically into economic austerity. Forty two states are constitutionally required to balance their budgets. But more so, when states have their autonomy, and must determine their own destiny, the shared Federal Reserve cannot inflate away one state’s accumulated wealth, to help stimulate another. No state can be too big to fail. If you are against the Fed, state’s rights is your rally cry.
The Tea Party stands for the US Constitution. And at it’s core, that document made us like the EU today; a loosely bound group of states that don’t want to live like, or pay for each other. There wasn’t supposed to be an invasive 16th Amendment that tore down the economic independence of each state. There wasn’t supposed to be a Federal Reserve hooking state governments on the crack rock of freshly printed money.
Let’s all hope Greece’s public unions eat it even more than New Jersey’s. Because if Greece falls in line to stay in the Euro club, it bodes well her people, but it also bodes well for us. It argues:
- What citizens get from other states in trade outweighs what they get from their own government.
- Entrenched public interests are less dangerous when they don’t have their own mint.
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63 Comments
Excellent thoughtful article.
" Our founding fathers were not simply against Big Government, they were for state’s rights."
People are awake and aware. Moreso now than when the squeaky voiced little munchkin Ross Perot was hollering about "the daffy-cit". The winds of change are going to continue to blow stronger. People are fed up and have had enough. There is the smell of fear in Washington, DC. Politicians are afraid; afraid of what they have done to this country. They have sold US out. They should hang their heads in shame, and all leave public office. If this were Japan, they should do the honorable thing, but that would be expecting too much.
"when states have their autonomy, and must determine their own destiny, the shared Federal Reserve cannot inflate away one state’s accumulated wealth, to help stimulate another."
Bingo…! Time we start treating the disease, not the symptoms.
Nice perspective Mr. Warstler.
I'm all for it. Our federal form of government has been replaced by a national form of government. It is high time we speak of dissolving the centralized power of a national (top-down) authority, and return to the system of governing authority coming from the States and from the People.
Right on…. good article. Anything to hasten the new age of federalism and enhanced states rights.
http://i530.photobucket.com/albums/dd350/DJ_Novak...
That's what happened when I read your headline. Simply brilliant.
http://img151.imageshack.us/i/hahahaohwow.jpg/
And here's a link that's not dead…
The whole Greek affair shows what it's like to not have your own house in order. i'd advocate California does get to keep it's own tax revenues – to stop funding the federal government. If california wishes to run itself into the ground, fine!
The Tea Party needs you now to organize. We want our Constitution to be "Protected" and not destroyed:
http://www.nationalprecinctalliance.org/main/gett...
Renewing the power base back to the states starts with the representitives in each of those states. And since I haven't been able to tell the differece of late between a Republican and a Democrat I think it is time to elect someone from the state of Utah that is a true conservitive and throw Bob Bennett out. I thinks he is in trouble this year.
Don't Mess with Texas
from reuters:
Texas to challenge US greenhouse gas rules
* EPA pursuing CO2 rules if Congress does not act
By Ed Stoddard
DALLAS, Feb 16 (Reuters) – Texas and several national industry groups on Tuesday filed separate petitions in federal court challenging the government's authority to regulate U.S. greenhouse gas emissions.
Texas, which leads U.S. states in carbon dioxide emissions due to its heavy concentration of oil refining and other industries, will see a major impact if U.S. mandatory emissions reductions take effect.
Full Article:
http://www.reuters.com/article/idUSN1661844120100...
Message to all incumbents and candidates:
It's the Constitution stupid!
2010 – year of the Constitution
The USA can't join the EU ! One of the requirements for a country / nation to join the EU is the country must have less than 60% debt….
I think you are glossing over something….there is a reason the EU was put in to place. And the people behind it are globalists. The last thing they want are independent nations simply for the fact that that was what was in place before and the EU meant they had to subjugate themselves to it. Drawing an analogy between our Federal Government and the EU helps underscore the difference between states and nations as we have termed them, but unless you want the states to become nations I don't see the point. And the US joining the UN you may joke about but that is the plan of the globalists and the reason for the EU/NAU, etc..
You are rather thoughtful and tempered today. I'm proud of you. Have you changed perscriptions?
Morgan- great piece of work. Thanks.
Lincoln said, "Four-score and seven years ago our Fathers brought forth on this continent, a new nation…" Respectfully, they did not. They brought forth a voluntary union of 13 individual nations that chose to work together for their common good. I praise Lincoln, but it is time for states' rights to be reaffirmed.
Monetary union is not political union, the founding fathers (and now the EU) understood that. Your tinfoil hat cries against global government are crocodile tears – you want a strong Federal government to boss around our states, your kind will eventually seek a strong world political union to boss around nations. My kind will seek only a common currency for trade, to protect ourselves from government overspending. Local power with global currency is the only way to rid the world of oligarchy.
***Missing***
10th Amendment, last seen between 9th and 11th. If found please call American public. Reward for proper recovery.
http://hellgazette.blogspot.com/
Via email to: Rep. Hall, Appointed Sen. for NY, Sen. Schumer, Pres. Obama
Washington DC
January 20, 2008
Dear Mr. and Mrs. Yertle:
I am concerned that the manner in which the federal government is operating is eerily like how the Krupps munitions factory was still billing the Nazi’s – after Hitler committed suicide. Benjamin Franklin once remarked that the definition of insanity is doing the same thing, and expecting different results. The congress has passed bailouts, and rescues, and soon a, stimulus package, all in an empty effort to save the Republic from the financial malfeasance of governments small and large. If they failed to work in the past what reason do you believe that they will work in the future? It appears to me that the solution is obvious. Forgetting financial reality for a moment. In a given year the US economy generates 10 to 15 trillion dollars. I say why wait for the year to pass. Next time all of you are at your respective posts pass a bill to print $12.5 Trillion and disperse it. At least that way we will all know who is getting the money.
Obviously, however enticing, this idea is absurd. Is it any more so than one insolvent institution, the US Government ($2 Trillion running deficit, $12 Trillion in debt), giving another insolvent institution, US Banks(Bloomberg news service reports $4-$5 Trillion required to re-capitalize them, at the current rate of loss), money it does not have anything to back it other than more debt, and a beaten up taxpayer? With ink so fresh on the bonds that the Communist Chinese government has yet to collect the interest on it? I fail to see the wisdom in how creating a smaller hole in one spot, and a bigger hole in another will ever do any of us any good. This philosophy has not worked in the past and it will not work in the future. The evil economic stew we are cooking has been brewed before, and it will taste just as bitter this time.
When Ronald Reagan took the reigns of this nation in 1981 we were in far worse shape than we are in today, a large portion of our military qualified for poverty assistance, a business owner could not breathe without the governments permission, inflation was sky high, unemployment at double digits. Unless we do the right thing now we will be there again, rapidly. Our economic problems today are manufactured by our own fiscal malfeasance – there is no shortage of food, energy, labor, or capital. What we have too much of is the heavy hand of government deciding who gets what, how much, and when via a complex set of regulations and tax policy. President Reagan, to the largest extent possible, ended that madness, and while the 80’s were no picnic, that decade created 20,000,000 new jobs, strengthened this nation so we could carry on in the future, and we brought most of the world with us as a lucky strike extra. The economic lesson of the 80’s is that freedom and economic liberty are viral, and the only antidote for it is big government – this is something we have forgotten or chosen to ignore. Up to now President Obamas rhetoric has been the antithesis of this pro growth philosophy. Mr. Obama thinks that a combination of targeted tax cuts, welfare, and government make work projects are the cure for our ills. To do this Mr. Obama will need more bureaucrats, and add more legal and fiscal complexity to meet his goals. I reject this economic cure and its implementation. Remember, what the government gives to one it must take from another. How does the government know that the capital or wealth it is redistributing will not be used for a much wiser purpose then the one it has ordained? It doesn’t. Like an alcoholic in a bar, the government drinks without accountability, and spends the monthly mortgage payment on whiskey without forethought, and hurts everyone it claims to care about. Remember these thoughts as you create the next seemingly free government give away; someone has to pay for it, that someone will be our children, their payment will either be in gold or blood.
This insanity of printing, borrowing, and misallocation of capital must stop. No country on earth has ever borrowed, spent or taxed it’s way to recovery, let alone prosperity. War and Depression? Absolutely. If this economic cancer is allowed to metastasize we will once again be pushed as a nation into a choice of not whether we should or should not do something, but whether or not we can. The “stimulus package” legislation all of you are considering is nothing more than economic suicide.
Respectfully,
Well done Morgan, very insightful. I can hardly wait to see the responses from the Progressives who will attempt to counter your argument
.
I can't wait to get back to a more divided power structure. The federal government has been growing more and more, until it has reached today's proportions. The Constitution set up government to be most powerful at the local level and least powerful at the federal level. We have allowed this to be flipped on us. If we were to follow the Constitution, we wouldn't have massive debts, entitlements, foreign wars, and all the other things that have put us in such a precarious situation. Bring on the resurgence of the Constitution and those that abide by it. To all those that have sworn to defend and protect the Constitution that have not done their duty……Well, in my Grandpa's day, that was called treason, sedition or anti-American. God have mercy on your souls.
"attempt" being the key word.
Greece lost it's EU voting rights because it is bankrupt. They are not a sovereign nation now! Maybe I shouldn't give Obeyme any ideas.
"Local power with global currency is the only way to rid the world of oligarchy."
Double talkin' jive.
Who's going to print that global currency? Who will be in charge of it?
Ditto…
Good stuff Morgan. I'm guessing you're just getting warmed up. The material in the coming weeks will be low fruit.
I know watermelons don't grow on trees but…you get the picture.
Also Virginia: http://www2.timesdispatch.com/rtd/news/state_regi...
You have to stop these kinds of remarks…. it took me five minutes to stop laughing!
Lincoln deserves praise only for the ultimate outcome of what he and the Congress started by going to Ft. Sumter the preservation of the Union. Their means and prosecution of the ultimate outcome I have much to be concerned about (I purposefully left out reference to slavery as a different issue than preserving the Union.) Lincoln and Congress completely ignored states rights which preceded the war and was the reason the states seceded (States Rights to self government).
Viva the Tenth Amendment!
$ is a short term play for the upside because we cannot seem to take the credit card away from Congress the President or the Fed! Long term we are in trouble!
Just list the number of Federal Departments which were put in place between the 1890's and the 1970's and then look at their budgets. That is the money we should have been keeping in our pockets for our use. The Federal Government has been prostituted by the "progressives" since that period to expand its control over all the people and specifically to diminish the control of the States. The first Constitutional Amendment I would like to see is the repeal of the 17th Amendment. Put the Senators back to being true State representatives beholding to the State Legislatures for doing the bidding of the States best Interest. The next is the 16th Amendment and institution of the Fairtax! Self explanatory: http://www.fairtax.org.
States Rights! 50 states-50 competitiors. Let the best succeed in a level, fair competition so the rest of us can imitate those actions that create success.
Your observation is correct and that is what the Denmark Climate Gig was all about. Taxing all nations to be paid into a central bank. This was how the EU started…you know lets just go with a single currency to make things better. Ya Right you want to buy a bridge to nowhere.
Global Currency = Global control
I heard it was seen cavorting with the Secon Amendment…..
Great tip. Just joined. I recall the Citizens for An Alternative Tax System that got some traction in the 80s. Ultimately it petered out. Thsi time may be different. I sense people have figured out the Government scams now and don't buy the class warfare canard.
Not for nothing, but former President Ronald "Reagan"…
Here is an interesting twist on the Fairtax. last night Beck had Dr. Laffer on and one of his points was a flat tax of 11%. Here is the catch he said the tax was to be BOTH on the business side and the individual side of the issue, in other words double the tax, or 22%. But here is what was not said: corporate taxes are never paid by companies, they are passed on in the products retail price, so we pay the total 22%. It is interesting that the Fairtax rate is 23% paid only on new items at retail and that it gives a rebate to every American based upon where they fall in relation to the poverty level (family number of members only) so as to be fair and not have anyone pay taxes on subsistence level spending! I wonder why neither Beck or Laffer mentioned this alternative. Since it impacts business and consumers less. Thanks for the reply.
The Euro is going to tank. It seemed like a good idea but since some countries are more Socialist than others, Greece being the prime example, and with Islamization fueling resentment, I predict renewed Nationalism and further fragmentation. Germany and the U.K. can retain primacy if they can turn back some of what Euro 'progressivism' has done and seriously address their immigration / Sharia problems.
We MUST maintain primacy of the dollar at home and, with our debt situation, abroad. To do this we simply must stop printing money and get serious about our debt. We all know this. The world powers know this and are actively seeking to undermine the dollar. So is the Keynesian Kenyan. Unless we change course soon turning back won't be an option…. we'll be starting over.
Utah needs to sue the Fedral government and take back their lands owned by Big government. I hear that the Feds own 60% of all Utah land? How can you even govern yourself without Big government telling you what to do with entitlements all around.
dutifully humiliated
Oh Lincoln 'reaffirmed' those states rights, with blood on his soul…
If EURO was a stock ticker symbol, then short it. The EU is going down and the process has already begun. King $US will lose a big potential competitor, and it will rise like a Phoenix.
Like Einstein once said, "Everything is relative."
It is Ash Wednesday…Hmmm?
Faced with his own mortality, DHasselhoover only lights the blunt after posting…with an amazing rational response. May be the backlash from Bayh's surrender??
Great points Morgan but I could not help but ask who is Ronald Regan? Sorry I could not hep meseff!
Is Ronald Regan the code name for that despicable Sarah Palin? snicker….
Yes, it is about states rights. Welcome to Civil War II.
· less than 1 minute ago
Why have Glen Beck and Bill O'Reilly both recently tried to warn against the "fringe lunatics" in the Tea Party movement? Why have they both spoken very derisively about "birthers" completely ignoring the fact that a very large percentage of the American People have serious questions about Obama's past and his eligibility to be POTUS? Whose side are they on? Are they trying to set the agenda for the Tea Party Movement? Who do they work for? Wanna know then follow the money. As it so happens, both Glen Beck and O'Reilly are living in a glass house, as they are both on the Saudi payroll via Fox News and have therefore been seriously compromised. To find out more click on this link
http://www.youtube.com/watch?v=9ZdDkHQ38zw&fe...
Perfect nom de plummmie for our dear leader, the Keynesian Kenyan!
The 16th amendment was the Death of the United States and Freedom as we know it. The ratification of this amendment gave birth to the "administrative state" and wealth redistribution. Big government now had a source from which to balloon into the behemoth monster it is today. Along with wealth redistribution the redistributors of course have to pay themselves and their friends. The progressives both on the right and left have got it pretty well figured out. The use of class warfare by both sides to keep us divided, the obfuscation by both sides to try and confuse and meanwhile rome burns. All wealth redistribution and progressive ideas like social security was birthed by the 16th amendment. It is slavery pure and simple. This is a socialist country and has been ever since the 16th amendment was ratified. California is an extreme example of progressive ideals on steroids. I live in california and am sad to say it hardly resembles what it was even twenty years ago.
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