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A Modest Plan To Save America

By: Rick Ackerman, Rick's Picks


-- Posted Monday, 8 September 2008 | Digg This ArticleDigg It! | Source: GoldSeek.com

Rick’s Picks

Monday, September 8, 2008

“Phenomenally accurate forecasts”

  

Like an inspired jazz musician, today’s featured essayist, second-place winner Doug Graham, gives us a cryptic riff in a minor key before cutting loose on the topic “What Will Save America?” For his effort, Graham will receive a $500 scholarship to the Hidden Pivot seminar.  He ranks Energy, Fiscal Policy and Citizenship, in that order, as the key issues that we must tackle. Here’s how:

 

What Will Save America?

 

In a word, diet.  Or exercise.  We likely need both.

 

We are simply out of shape, fat, lazy, misdirected, metaphorically channel-surfing as we listen to one problem and click to the next, content to rest our fat asses while our minds and our mouths blather about disconnected, impotent and ineffective solutions.

 

The next President will waste four years executing plans that will probably be as ineffective as ethanol.  When those ideas fail, he will blame the state of the Union on his having inherited a hole dug so deep that even his fantastic ideas could extricate us. He will spin data that will promise success if he can have four more years to execute. Talk about hope springing eternal!

 

Does this sound like diet?  No!  This sounds like Phen-phen.  This sounds like nonsense.  This sounds like someone who wants to get in shape but abhors exercise and loves high-fat food.  It won't work.

 

 

One only need watch an hour or so of C-Span, with Congress grilling energy-firm CEOs, or bludgeoning the Fed chairman with  inane logic, to appreciate how fat, lazy, and stupid we have become.  Americans actually vote for these nincompoops, who entertain us by bringing Animal Farm to life each day on Capitol Hill. Are these guys stupid, or what?  An example is our plunge into corn ethanol. There were so many great editorials written two or three years ago about why corn ethanol was a stupid idea.  The lucid arguments stated the obvious issues: input costs (oil, work, acreage, water, time = energy out, food competition, lower energy output, etc.)  and here we are....only $10 a bushel!  Where is the outrage?  The vast majority of the poor people in the world now have food costs that are greater than their per capita GDP.  Now that is putting the "con" back in Congress.  And does anybody remember the years of scrutiny, and who knows how much money, that were trained on Microsoft, forcing the company to operate so as to foster greater competition? How did that work out?  Answer: It was a waste of time and money. The market fixed Microsoft!

 

Dogma-Free Decisions

 

My point is that we need to think, without fear of reprisal, to solve our problems.  We need to question freely and to give up some of the dogmas that stop us from making good decisions.  For starters, the Earth does not come first.  That is illogical.  The Earth will take care of itself.  Note to all the tree-huggers out there: The Earth was here before you and will be here long after you.  Dinosaurs came and went over tens of millions of years. The planet went through numerous ice ages, it has been blasted by asteroids larger than the state of Connecticut, and yet it is still here, spinning at 26,000 miles an hour, basking in the warmth of the sun.  It doesn't need protection.  You could deplete all the oil underneath the crust by flooring the accelerator in every car ever manufactured and, guess what?  The gas would be gone, the air would momentarily be dirty, but a hundred years later the Earth would be pristine again.  Protecting it is not mission numero uno

 

 

What might need protection is Earth for man's purposes.  For if man is not here, who will be able to appreciate it?  That is logic.  This means that you can't go around creating public policy that makes people poor.  Poor people poop in their own doorway, backyard, wherever.  Pooping in a sanitary manner is too low on Maslow's chart for them to care about where they poop.  They are much more concerned about inputs than outputs!  Food!  They are not good stewards of the environment....thus the economy does matter.  Furthermore, if we go broke, the bad guys and their dictators will run amok.  Read your history.

 

I  believe that public policy filtered with environmentalism is doomed to fail.  This does not mean that we ignore the environment, but it does mean that we elevate economic success as a priority so that we can ensure that we are capable of environmental concern.  A cleaner Earth can only be possible in an environment of sustainable economic success.

 

Term Limits, Anyone?

 

Simply put, public policy needs to benefit people the most.

 

Dogma number two to discard: the re-election of politicians.  Of course democracy fails when the majority of voters choose whichever politician promises to siphon the most unearned wealth their way.  Eventually, this fails, as it must. So let’s do away with second terms. We, and those we elect, need to rise above the moral corruption of politics-as-usual.  It is not a party issue.  Awarding fat government contracts to cronies happens on both sides of the aisle.  And collecting $2 million for an hour-long speech five years after leaving the Presidency is just a delayed pay-off.  It is all wrong.  A big structural problem, for sure.

 

America must address three issues in particular with thoroughness, fairness, and ultimately success. In order of importance, they are: energy, fiscal policy, and citizenship.  Until concerns in these key areas are faced squarely, we’re wasting our time talking about anything else.  The first of them, energy, is the challenge of the current generation.  Our long-term energy needs have been short-changed for the last 30 years, and now we wince every time we fill up the gas tank or adjust the thermostat for greater comfort. Because energy is fundamental to the cost of everything, everything is more expensive. 

 

Alternative Energy

 

Of course, debasing the currency has not helped, but this is a complex situation and it cannot be addressed by a single solution. Our current infrastructure is based on burning oil or derivatives, natural gas, or coal.  We also generate a small portion of our energy via sundry alternatives.  Fully developing these alternatives will solve many of our problems.  Some of them, like hydropower, are maximized already.  Wind and solar are great, but the sun doesn’t always shine and the wind doesn't always blow.  Nothing like a cold, overcast day with no wind to cause us to reconsider this strategy.  But taken together, alternative energy solutions can help at the margin, albeit at a relatively high cost.   

 

We also have enough uranium on the planet to supply all of our power needs.  It creates no CO2, the French, among other nations, have been hugely successful with it, and yet we cry, "No Nukes!"  We have been misled on the supposed dangers of nuclear power by a bunch of vocal, eco-religious, politically powerful zealots who have painted us into an illogical corner where we are forced to decide between an uneasy alliance with people who hate us or economic catastrophe.  This is a horrible choice, and it cries out for debate.  Force the eco-radicals to defend their weak position, let us ponder its flaws, and then let us move on. Nuclear power scales.  It is safe, and our only accident was caused by human error and was completely contained.  New designs don't allow for the possibility of operator error.  Gravity must fail for the machine to fail.

 

Jettison the dogma, and you solve the problem.  Everything must be on the table.  And you can't claim nuclear power is too expensive just because environmental lawyers cause expensive delays.  There are fantastic new designs - some actually are American and could employ Americans in their development, construction, and operation.  Imagine!  This sounds like hope and change.

 

Once we have figured out how to generate the power, we can revamp it distribution.  Every home will be an electricity station. Anywhere, actually. Charging American-made electric cars!  Sounds cool to me.

 

Nanny-State Cool-Off

 

Folks, we can't all be on the dole.  Being on the dole should not be viewed as an acceptable way of life.  There is a reason why the hippy commune never worked.  Eventually power corrupts and the whole thing spins out of balance. Those who get the short end of the stick leave and the whole misconceived enterprise falls under its own weight.  Therefore, we need to shrink government -- and that means all of its constituents.  Government can only be grown through taxation and inflation.  If we had a sound dollar inflation would vanish, exposing how heavily we are taxed without explicit taxes. Inflation is the lubricant of the nanny state.  Unfortunately, inflation is also like mold: It is very difficult to detect, and it grows, and grows, and grows.  Eventually it is obvious, and that is about the same time that it kills you.

 

Therefore, we need to solidify our currency in a way that will make it harder for politicians to create unlimited slush-fund money via inflation. It would help if they were not in it for the money. As long politics paves the road to wealth, politicians will continue to be corrupt and wrong-thinking. Is there a way to make the job at least somewhat undesirable?  Think about it. It is insane for Clinton and Gore to be pulling in hundreds of millions of dollars just because they held high office. It is just wrong. We need to take the politics out of our money (via sound currency) and money out of politics (via “sound” politicians).

 

Citizenship

 

We can't solve everyone's problems, especially when we are broke. This applies globally, but lets just scale it back to us and "not us."  Us is defined as a U.S. citizen.  The idea that foreign nationals can freely come here and work is nuts.  We can't afford our own citizens, let alone another country's citizens.  I challenge so-called progressives to do the math on this complex issue.  It just doesn’t add up.  Being a member of America’s middle class is punitive where payback is concerned.  In the meantime, we seem hell-bent on increasing the size of our underclass. We need control of our citizenship.  America is not Ellis Island, circa 1900.  Back then, there were no taxes on income, property, or goods.  There was no nanny state.  We need immigration that creates value: scientists, entrepreneurs and engineers.

 

In summary:  1)  Energy independence; 2)  sound money and sound political leadership; and, 3)  tight control of citizenship. All of this must occur in an environment that gives rein to free thinking.

 

Unfortunately, I am not confident we possess the intellectual and moral fiber to pull it off.  In fact, the great mass of people are so confused and distracted that they may be unable to reach the point of clarity.  I would therefore predict that we’ll continue to stumble, to sink, and to absorb body blows until it is just too late.  By then we will have depleted our capital and moral strength. Like an old boxer, our time will have passed.  We need only look at Italy, Spain, England, and France to see our future.  It is not great, but it is not horrible.  It is just much less than what our parents had.

 

***

 

 

Fall Seminar September 10-11

 

 

Would you like to learn how to forecast price swings and trends as accurately as gurus who do it for a living?  If you think learning such skills is beyond you, then you haven’t visited the Rick’s Picks chat room lately. More and more graduates of the online, six-hour Hidden Pivot Seminar can be found there each day, comparing notes, trading confidently and forecasting with the skill and accuracy of the professional tape-watcher.  But don’t take our word for it. Drop by sometime and ask a seminar graduate yourself. You can get a one-day pass by clicking here.  Because seats for the class are limited, if you would like to sign up now, click here, and then on the “Upcoming” tab to register;  or here  if you would like more information as well as a detailed description of the Hidden Pivot Method and a free Hidden Pivot calculator (our latest model, designed for beginners). 

 

***

 

Information and commentary contained herein comes from sources believed to be reliable, but this cannot be guaranteed. Past performance should not be construed as an indicator of future results, so let the buyer beware. Rick's Picks does not provide investment advice to individuals, nor act as an investment advisor, nor individually advocate the purchase or sale of any security or investment. From time to time, its editor may hold positions in issues referred to in this service, and he may alter or augment them at any time. Investments recommended herein should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Rick's Picks reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscribers’ initials will be used unless express written permission has been granted to the contrary. All Contents © 2008, Rick Ackerman. All Rights Reserved. www.rickackerman.com 


-- Posted Monday, 8 September 2008 | Digg This Article | Source: GoldSeek.com




 



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