(Recorded on 01/24/23) Topics covered on this video coaching call In this special video presentation, trading coach Jerry Robinson provides a broad overview of the financial markets in charts and shares a few long-term and short-term trading ideas. Included in this...
Jerry’s comments: For as long as I can remember I have looked forward to reading Thomas Sowell’s columns for his acute insights. He is a former economics professor and has written some great books, including one called: Basic Economics. In my opinion, it is a must-read for anyone who wants to understand the way the U.S. economy works – and doesn’t work.
Is U.S. Now On Slippery Slope To Tyranny?
By THOMAS SOWELL
Posted 06/21/2010 06:13 PM ET
When Adolf Hitler was building up the Nazi movement in the 1920s, leading up to his taking power in the 1930s, he deliberately sought to activate people who did not normally pay much attention to politics.
Such people were a valuable addition to his political base, since they were particularly susceptible to Hitler’s rhetoric and had far less basis for questioning his assumptions or his conclusions.
“Useful idiots” was the term supposedly coined by V.I. Lenin to describe similarly unthinking supporters of his dictatorship in the Soviet Union.
Put differently, a democracy needs informed citizens if it is to thrive, or ultimately even survive.
In our times, American democracy is being dismantled, piece by piece, before our very eyes by the current administration in Washington, and few people seem to be concerned about it.
The president’s poll numbers are going down because increasing numbers of people disagree with particular policies of his, but the damage being done to the fundamental structure of this nation goes far beyond particular counterproductive policies.
Just where in the Constitution of the United States does it say that a president has the authority to extract vast sums of money from a private enterprise and distribute it as he sees fit to whomever he deems worthy of compensation? Nowhere.
And yet that is precisely what is happening with a $20 billion fund to be provided by BP to compensate people harmed by their oil spill in the Gulf of Mexico.
Many among the public and in the media may think that the issue is simply whether BP’s oil spill has damaged many people, who ought to be compensated.
But our government is supposed to be “a government of laws and not of men.”
If our laws and our institutions determine that BP ought to pay $20 billion — or $50 billion or $100 billion — then so be it.
But the Constitution says that private property is not to be confiscated by the government without “due process of law.”
Technically, it has not been confiscated by Barack Obama, but that is a distinction without a difference.
With vastly expanded powers of government available at the discretion of politicians and bureaucrats, private individuals and organizations can be forced into accepting the imposition of powers that were never granted to the government by the Constitution.
If you believe that the end justifies the means, then you don’t believe in constitutional government.