Gary North on the Crony Capitalism of General Motors

Thanks to the Obama bailout of General Motors in 2009, Gary North had much material to work with in this next piece.

Gary North says there is Keynesianism in the conservative camp

Keynesian is in the conservative camp, Gary North says, and that is not, by the way, a good thing.

It starts with this:

Someone posted a video of a LKeftist millionaire entrepreneur with a Ph.D. in philosophy. He told us that raising taxes on the rich will not reduce jobs. He is an economic idiot, even though he is a smart businessmen. There are lots of them.

What disturbed me was the reply.

It went on with this:

The site member begins with straight Keynesianism: “It is consumers who create demand and therefore jobs. The rich are globalists.” This is the very heart of Keynes’s economics. He began his analysis with the consumer. He assumed that the consumer had come out of nowhere, ready to consume, yet for some reason he was unable to consume. Keynes blamed the refusal of capitalists to invest, to employ unemployed people. He called on the government to borrow money and hire people. Everything centered on increasing demand.

Read the rest for more analysis. It's better in its full context.

'When You Hear the Word “Collapse,” Ignore It,' says Gary North

This advice is so useful. I remember when Gary North first debunked the National Inflation Association on his subscriber-based website a few years ago.

It was a relief.

However, the NIA's fear mongering was useful in a sense because it produced real concerns--the fear of hyperinflation--that I had to address. I brought those concerns to someone who spent a good deal of his lifetime studying economics.

Part of the reason I joined North's Specific Answers site was because I was terrified of hyperinflation after seeing NIA "Hyperinflation Nation" movie and needed my concerns addressed. But after they were addressed and time passed, I publicly distanced myself from the NIA.

Most people who use the word "collapse" have the right intentions, but they're economics are misplaced.

North's recent article doesn't address the NIA but someone else.

From the Tea Party Economist Blog:

We hear the word “collapse” all the time. The word does not make sense in a free market economy. Collapses come all at once. Prices on a free market change, forcing people to adjust. We can get erosion. We can get recession. Short of a war scenario, such as biological pandemic, we cannot get a collapse.

I will cite an article that promotes collapse. I do not believe it for a minute. It is representative of what you should ignore.

When You Hear the Word “Collapse,” Ignore It. || Tea Party Economist

Why you technically may be an extremist

I put two and two together a long time ago. But Gary North tells it on his news site/blog.

From the Tea Party Economist Blog:

This article indicates how far the U.S. government has gone to define “Constitutionalist” as militia extremist.

Are You a Militia Extremist? Technically, You Probably Are. || Tea Party Economist

The “Underwear Bomber” Had Help from the U.S. Government

From the Tea Party Economist Blog:

In the hoopla about the so-called underwear bomber, this got little publicity. One of the people on the plane has gone public with an amazing account. This is from his blog site.

The “Underwear Bomber” Had Help from the U.S. Government || Tea Party Economist