Thomas Jefferson on the Bailouts and Fed

“I consider the foundation of the Constitution as laid on this ground that ‘all powers not delegated to the United States, by the Constitution, nor prohibited by it to the states, are reserved to the states or to the people.’ To take a single step beyond the boundaries thus specially drawn around the powers of  Congress, is to take possession of a boundless field of power, not longer susceptible of any definition.”

—Thomas Jefferson (Opinion on the Constitutionality of a National Bank, 15 February 1791)

Call Your Congressman

Here are the numbers… We beat it once, but the second time is always the hardest.

Sen. Bayh: 202-224-5623 or 317-554-0750
Rep. Burton: 202-225-2276 or 317-848-0201
Rep. Buyer: 202-225-5037
Rep. Carson: 202-225-4011
Rep. Donnely: 202-225-2915
Rep. Ellsworth: 202-225-4636
Rep. Hill: 202-225-5315
Sen. Lugar: 202-224-4814 or 317-226-5555
Rep. Pence: 202-225-3021
Rep. Souder: 202-225-4436
Rep. Visclosky: 202-225-2461

Here is a script from Dave Ramsey:

Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three

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Give the Taxpayer Second Tier Loss, not First

I swear, I could almost teach an econ course after the last two weeks. I will be so glad when politics goes back to less complicated issues, like lipstick and guns. One of the issues I worry about with the Paulson Plan is the actual execution of the plan. Are we really going to let a low paid government worker with no vested interest manage trillions of dollars? We are begging for corruption, and a lack of focus. We are asking for another massive governmental failure that will cost us more. So let Wall Street manage it. Bill Gross of

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The Party is Over

Pat Buchanan has a column you should read today. You’ve got to read the entire article, but:

“Seizing on the crisis, the left says we are witnessing the failure of market economics, a failure of conservatism.

This is nonsense. What we are witnessing is the collapse of Gordon Gecko (“Greed Is Good!”) capitalism. What we are witnessing is what happens to a prodigal nation that ignores history, and forgets and abandons the philosophy and principles that made it great.

A true conservative cherishes prudence and believes in fiscal responsibility, balanced budgets and a self-reliant republic. He believes in saving for retirement

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Check This Out

I haven’t had a chance to watch this yet, but it seems like a video most of our audience would be interested in. This is a note from Melyssa Donaghy:

Greetings Friends,

I write to you only because I know you are liberty minded and can think independently. 

I recently watched a documentary by Aaron Russo (producer of “The Rose” and “Trading Places”).

For a time he had a friendship with Nick Rockefeller, who arrogantly spilled his guts during several talks and was part of the inspiration for the documentary. Russo ended their “friendship” before he died

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Look for an Enormous Market Crash

http://www.thestreet.com/story/10407955/1/jpmorgan-chase-to-buy-bear-stearns.html

Last Thursday, Bears was worth $50, and now it’s worth $2?

Uh-Oh.

That means that J.P.M.C./the Fed took a look inside Bears when they offered to bail-out Bears on Friday, and it’s bad. And if one of the largest investment banks in the U.S. is bad, then there may be more banks that are in serious financial trouble. Even if there aren’t, the market will probably react as if other banks may be the next Bears. Trading between banks will slow to zero. The Fed doesn’t meet until Tuesday, where rates will be cut. The rate they cut is on the

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Tips on Saving Gas

Two summers ago, gas hit $2.50 to $3.00, and have never looked back. During that summer, there was a panic. Drive-0ffs at gas stations went through the roof, so now almost all gas stations are Pre-pay only. Siphoning theft went through the roof. Credit Card debt is going through the roof. Most of it is all a result of the drag that increased fuel prices cause on our economy.

It’s going to be even worse this summer, so you need to prepare. I’ve done afew things to increase my Miles Per Gallon. I have a 2006 Chevy Cobalt that has a

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Please Pay Here

You work at Burger King. It’s pay day Friday. Every two weeks, you earn $500. This BK pays in CASH. No withholding! That doesn’t mean you won’t be paying taxes. As you exit the building, there is a small booth where the IRS will look over your Cash, and take what it needs. Luckily, they have a fancy formula so you won’t get screwed more then the other BK Lounge workers. They need $100 from your pay. Now they hand you back your money, all $400 of it.

If this is how we paid taxes in America, there would be a

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