When reality sets in, politicians panic, because that’s when politics-as-usual disintegrates in the face of an onrushing crisis.
During the endgame of inflationary policy, revenues fall and governments respond by pushing tax rates to the firewall, causing revenues to plummet even further; a lesson governments like the state of California never seem to learn. Tom Giovanetti from the Institute for Policy Innovation (www.ipi.org) explains why soak-the-rich schemes always fail, while impoverishing the middle class at the same time.
Then we’ll pursue the current monetary situation in Europe with David McAlvany from the McAlvany Weekly Commentary (www.mcalvany.com).
Naomi Schaefer Riley was canned off the “Chronicle of Higher Education” blog after she made politically incorrect statements about race studies programs at universities. Academia is becoming the most closed-minded environment in the western world. We’ll discuss the implications of this as well as Naomi’s subsequent op-ed piece in the Wall Street Journal entitled, “The Academic Mob Rules.”
We’ve often spoken how the consensus process (Delphi Technique) involves the use of change agent facilitators. When the process starts, the outcome is predetermined, but the participants don’t know that. Mesa County, Colorado, just discovered this the hard way. We’ll run clips from a Colorado radio program to demonstrate the point.
John’s boralogue points out that there really was never any doubt where everything would wind up once the Euro crisis began, placing us at the leading edge of much bigger storms to come. Once on a tax-inflate-spend money train, governments can’t get off the wild ride until the train finally goes off a trestle. Today we’ll give you a road map of the exciting journey upon which we find ourselves.