Sipsey Street Irregulars: “Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.”

Tuesday, September 20, 2011

“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” — Frederic Bastiat

Greece And The Crisis Of The Governing Elite.

3 comments:

Sean said...: Kind of fun, watching the socialist snake devour itself, when they watched the Russians do the same thing, a short time ago. And now we watch them, while the socialist snake devours our futures and our childrens' and grandchildrens' and who knows how many generations. It doesn't work, never will, and all it does do is gobble up peoples' wealth, substance and freedom. A poor man can be free, but ownership of his produce continues his freedom. Then some jackass walks up, and talks him out of it, and here we are.; September 20, 2011 at 9:02 AM
Anonymous said...: "Finnish voters have prompted their government to require collateral in exchange for any additional loans to Greece, further complicating efforts to cobble together a package in time."

Government bonds are generally considered to be "AAA rated" debt securities because they are perceived as carrying very little risk of default. This evaluation is used as a standard against which less reliable debt securities are priced.

These less-reliable, lower-rated bonds carry a discount as compared to what the government issues. The fact that the Finns are demanding collateral for loans to the Greek government yanks the rug out from under this comparative bond pricing
model.

This creates enormous uncertainty for the capital markets.

Consequently, loans dry up and entrepreneurial activity grinds to a halt. Tax collection activities suffer accordingly. This worsens the prospect of resolving the financial crisis.

Take careful note of what happens to Greece because they are the stormy petrel of looming government defaults.

MALTHUS

WV: oreerse--we're in debt up to oreerse and it's bound to drown us.; September 20, 2011 at 10:02 AM
Anonymous said...: I just noticed the uncanny resemblance of Peter Schiff to Frederic Bastiat. Do you suppose Schiff carries on resistance to socialism because of hereditary influences? ;^)

MALTHUS; September 20, 2011 at 2:05 PM

"Progress made under the shadow of the policeman's club is false progress."

I believe that liberty is the only genuinely valuable thing that men have invented, at least in the field of government, in a thousand years. I believe that it is better to be free than to be not free, even when the former is dangerous and the latter safe. I believe that the finest qualities of man can flourish only in free air – that progress made under the shadow of the policeman's club is false progress, and of no permanent value. I believe that any man who takes the liberty of another into his keeping is bound to become a tyrant, and that any man who yields up his liberty, in however slight the measure, is bound to become a slave. -- H.L. Mencken

"The Fate of Unborn Millions. . ."

"The time is now near at hand which must probably determine, whether Americans are to be, Freemen, or Slaves; whether they are to have any property they can call their own; whether their Houses, and Farms, are to be pillaged and destroyed, and they consigned to a State of Wretchedness from which no human efforts will probably deliver them. The fate of unborn Millions will now depend, under God, on the Courage and Conduct of this army-Our cruel and unrelenting Enemy leaves us no choice but a brave resistance, or the most abject submission; that is all we can expect-We have therefore to resolve to conquer or die." -- George Washington to his troops before the Battle of Long Island.

"We will not go gently . . ."

This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can't be done? And if we do not try, it most certainly won't be done. The Founders' Republic, and the larger war for western civilization, will be lost.

But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.

And when we are gone, the scattered, free survivors hiding in the ruins of our once-great republic will sing of our deeds in forbidden songs, tending the flickering flame of individual liberty until it bursts forth again, as it must, generations later. We will live forever, like the Spartans at Thermopylae, in sacred memory.

-- Mike Vanderboegh, The Lessons of Mumbai:Death Cults, the "Socialism of Imbeciles" and Refusing to Submit, 1 December 2008

"A common language of resistance . . ."

"Colonial rebellions throughout the modern world have been acts of shared political imagination. Unless unhappy people develop the capacity to trust other unhappy people, protest remains a local affair easily silenced by traditional authority. Usually, however, a moment arrives when large numbers of men and women realize for the first time that they enjoy the support of strangers, ordinary people much like themselves who happen to live in distant places and whom under normal circumstances they would never meet. It is an intoxicating discovery. A common language of resistance suddenly opens to those who are most vulnerable to painful retribution the possibility of creating a new community. As the conviction of solidarity grows, parochial issues and aspirations merge imperceptibly with a compelling national agenda which only a short time before may have been the dream of only a few. For many Americans colonists this moment occurred late in the spring of 1774." -- T.H. Breen, The Marketplace of Revolution: How Consumer Politics Shaped American Independence, Oxford University Press, 2004, p.1.

Sipsey Street Irregulars

Tuesday, September 20, 2011

“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” — Frederic Bastiat

3 comments:

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