Archive for the ‘Socialism’ Category

Harry Griswold: Keep deadly socialism in check – La Crosse Tribune

How many additional millions of people have to die before intentional fools like Bernie Sanders will acknowledge that socialism quickly destroys any society that it takes over?

The death toll is easily at least 75 million when you add up all the innocent people who were starved to death, worked to death or shot in the back of the head like weve witnessed in the last 100 years in the Soviet Union, Cambodia, China, North Korea, Cuba and now Venezuela.

In 1999, when the socialists took control of Venezuela it was the wealthiest country in Latin America.

Venezuela still has the greatest petroleum reserves of any country in the world but children now needlessly die there because hospitals dont have very basic medicines. The average Venezuelan has lost 20 pounds because there is no food, beverages, dairy products or cooking oil. All the farms and food-processing facilities were nationalized by the government. Basic hygiene products arent to be found.

An uncharismatic socialist Venezuelan dictator ignores the will of 85 percent of the people there. The capital has been locked in daily violent demonstrations for several months. Scores of demonstrators have been murdered by roving gangs of para-military goon squads, funded by the socialist dictator.

Socialism is always quickly destructive.

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Harry Griswold: Keep deadly socialism in check - La Crosse Tribune

Francis: Property is theft and Socialism is the answer – Catholic Citizens of Illinois (press release)

Posted by Paul Anthony Melanson, June 13, 2017

Robert P. Barnidge noted that, Pope Francis has made his social and economic tendencies clear since the early days of his pontificate. In his 2013 apostolic exhortation, Evangelii Gaudium, Pope Francis criticizes the notion that reducing the disproportionately-high income tax burden on high-income earners can stimulate investment and economic growth as a crude and nave trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system. For the Holy Father, inequality is the root of social ills, though he fails to explain precisely why a society of unequal wealth but a relatively high standard of living would somehow be less reflective of Gospel values than a society that shares equally in poverty.

Going further still, Evangelii Gaudium calls for structural transformation that would restore to the poor what belongs to them. If, as Pope Francis suggests, property is possessed not by its owners, then, truly, property is theft, to quote 19th-century French anarchist Pierre-Joseph Proudhons famous phrase.

Contrast this embrace of Socialism with the thought of Pope Saint John Paul II:

the fundamental error of socialism is anthropological in nature. Socialism considers the individual person simply as an element, a molecule within the social organism, so that the good of the individual is completely subordinated to the functioning of the socio-economic mechanism. Socialism likewise maintains that the good of the individual is completely subordinated to the functioning of the socio-economic mechanism. Socialism likewise maintains that the good of the individual can be realized without reference to his free choice, to the unique and exclusive responsibility which he exercises in the face of good or evil. Man is thus reduced to a series of social relationships, and the concept of the person as the autonomous subject of moral decisions disappears, the very subject whose decisions build the social order.

The Popes have consistently condemned Socialism because it is intrinsically evil. See here.https://www.tfp.org/what-the-popes-have-to-say-about-socialism/

But Francis promotes it.

If youre not concerned about Francis as a Catholic, you should be.

http://lasalettejourney.blogspot.com/2017/06/francis-property-is-theft-and-socialism.html

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Francis: Property is theft and Socialism is the answer - Catholic Citizens of Illinois (press release)

Liberal Geographer: California is Descending into Socialism – Breitbart News

However, he warns, if California follows the socialist model preferred by its wealthy, liberal political class, it will have to expropriate that same elite to pay the cost, which fleeing middle class families cannot afford.

Kotkin writes:

The new consensus is being pushed by, among others, hedge-fund-billionaire-turned-green-patriarch Tom Steyer. The financier now insists that, to reverse our worsening inequality, we must double down on environmental and land-use regulation, and make up for it by boosting subsidies for the struggling poor and middle class. This new progressive synthesis promises not upward mobility and independence, but rather the prospect of turning most Californians into either tax slaves or dependent serfs.

[C]ombating climate change has become an opportunity for Brown, Steyer and the Sacramento bureaucracy to perform a passion play, where they preen as saviors of the planet, with the unlikable President Donald Trump playing his role as the devil incarnate. In following with this line of reasoning, Bay Area officials and environmental activists are even proposing a campaign to promote meatless meals. Its Gaia meets Lent.

To these burdens, there are now growing calls for a single-payer health care system which, in principle, is not a terrible idea, but it will include the undocumented, essentially inviting the poor to bring their sick relatives here. The state Senate passed the bill without identifying a funding source to pay the estimated $400 billion annual cost, leading even former Los Angeles Mayor Antonio Villaraigosa to describe it as snake oil. It may be more like hemlock for Californias middle-income earners, who, even with the cost of private health care removed, would have to fork over an estimated $50 billion to $100 billion a year in new taxes to pay for it.

In the end, we are witnessing the continuation of an evolving class war, pitting the oligarchs and their political allies against the states diminished middle and working classes. It might work politically, as the California electorate itself becomes more dependent on government largesse, but its hard to see how the state makes ends meet in the longer run without confiscating the billions now held by the ruling tech oligarchs.

Read Kotkins full essay here.

Joel B. Pollak is Senior Editor-at-Large at Breitbart News. He was named one of the most influential people in news media in 2016. He is the co-author ofHow Trump Won: The Inside Story of a Revolution, is available from Regnery. Follow him on Twitter at @joelpollak.

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Liberal Geographer: California is Descending into Socialism - Breitbart News

The UK Election Means Voters Want Moderation, Not Socialism – The Federalist

The United Kingdom election returns had hardly begun coming in when conventional wisdom started to form. A day later, it solidified. The elections demonstrated the renewed vitality of hard Left, progressive politics in the English-speaking world.

Even if Labour Party leader Jeremy Corbyn had not exactly won, he had shown how the Left could win. He had road-tested the kind of politics Americans had seen at work last year in the Bernie Sanders campaign. And he had proven that style of politics would prevailif not this year, then surely in the near future.

There is a certain truth to this narrative. British Prime Minister Teresa May made a grave miscalculation, lost her majority in Parliament, denied herself another three secure years in power, and will probably be gone as prime minister by late summer. But a closer analysis of the election exposes significant flaws in the conventional narrative. American conservatives should indeed study the British election closely. They should not, however, be disheartened by it. It offers them valuable lessons on how to remain in power, and how to use the power they hold.

To begin with, its important to understand that while the British Conservative Party (the Tories) lost their majority in Parliament, they still remain in office and will likely continue to govern the nation. Before the election, they held an absolute majority in Parliament, of 331 seats out of 650. They lost 13 seats, dropping to 318, some eight votes shy of a majority.

But within a few hours, they began forming a coalition with a traditional ally, the Democratic Unionists (DUP) of Northern Ireland. That party won ten seats. The Tory-DUP alliance would thus control a majority of 328 of the 650 seats. To be sure, that majority is slender, and could suffer attrition as members of Parliament (MPs) died or left office. But a majority it nonetheless is. And it would permit May to retain her prime ministership and the Tory Party to rule.

Furthermore, Labours success should not be overblown. It remained well behind the Tories both in numbers of parliamentary seats (262 versus 318), and in the popular vote (roughly 40 percent to 42 percent). The Tories share of the popular vote actually climbed by more than 5 percent, although the Labour share increased by nearly 10 percent. Although Labour picked up a substantial net gain of 32 seats, its gains came at the expense, not so much of the Tories, as of smaller third parties, especially the Scottish Nationalists, who lost a net of 19 seats (of a previous 35) in all.

Even without further analysis, these results hardly suggest a massive rejection of the Conservatives. Rather, they indicate that Britain may be returning to something more like a two-party system, with smaller regional or special interest parties giving way to bigger parties that have broader, national appeal.

Labour also seemed to have made gains because Nigel Farages party, the UKIP, had disappeared. UKIP existed to promote Brexit. With that achieved, the party basically folded its tent. Forecasters had mistakenly predicted that UKIP voters would migrate to the Tories. But many did not, voting for Labour instead. That is crucial: it suggests that many pro-Brexit, nationalistic voters voted for Labour for economic reasons, given that Britains exit from the European Union seemed assured.

Here, then, is one important lesson for American conservatives: Do not count on retaining the loyalty of working-class voters in places like western Pennsylvaniaplaces that gave Donald Trump the necessary margin for victorywithout rewarding them on the bread and butter issues. In particular, American conservatives should be very wary of cutting health-care programs severely.

Labour made extremely effective use of the charge that May and her Tories were starving Britains national health-care system of funds. That charge resonated with aging working-class Britons who may well have supported UKIP or Brexit. Throughout the 1990s and early 2000s, the Labour Party, under leaders like Tony Blair and Gordon Brown, had snubbed and stiffed those voters. In that respect, they resembled our own aloof and arrogant Obamas and Clintons. But under Corbyn, Labour began to court these neglected, deplorable voters again with, it appears, a fair measure of success. Conservatives: Be sure that the Democrats have grasped that piece of Labours strategy, and beware of it.

British conservatives had absorbed that lesson even before the election, and they should pay even more attention to it in the aftermath. May was depicted as a Red Tory in large part because of her views on social welfare. She or her Tory successors will probably blush an even deeper red now. Voters who favor nationalist causes, like Brexit or Making America Great Again, value a robust nation-state, not only because it guards its borders jealously and protects its native working class from low-wage foreign-born competition, but also because its health care and social security programs shelter them from the worst ravages of (what Edward Luttwak calls) turbo-capitalism.

A turn to the center on social welfare issues would be very good for conservativism both in Britain and in this country. In Britain, it would mean the Tory Party would break even further with the economic policies of Thatcherism and continue its return to an older and deeper conservative tradition. That is the tradition associated with post-War Tory prime ministers like Harold Macmillan and, in the nineteenth century, Benjamin Disraeli.

In those periods, the Tories aspired to beand in fact weregenuinely the party of the nation as a whole, rather than (like Labour) of one particular class. Their leadership consciously sought to combine the dynamism, innovation, and risk-taking of capitalism with substantial protections for those most vulnerable to the dislocations and deprivations that unfettered capitalism inevitably causes.

In my opinion, that is the true and natural habitat of conservatism in any advanced modern society. And it is the kind that comes naturally to President Trump. To an extent almost wholly unrecognized by commentators, with the notable exception of Conrad Black, both Trump and his followers are moderates. Trump appears to recognize not only the political necessity of protecting core social programs, but also the social imperative for doing so. The deplorables are an essential part of the national community, and the nation needs to give them their due.

Finally, a word about the Ulster MPs on whom the Tories depend. These are not the anti-Catholic bigots of the past, even a past as recent as the 1980s. Their leader, Arlene Foster, is a young Protestant woman who has earned the praise of the UKs Catholic Herald, for her openness to Roman Catholics and her partys staunchly pro-life values. It is not altogether unimaginable that Foster could play a leading role in the next UK cabinet, or perhaps even become prime minister.

The Tories dependence on her party for remaining in power gives Foster extraordinary leverage. It may even be that the Britain that emerges from this election, while taking a more progressive tack in economics, will steer in a more conservative direction on social and cultural issues. Its not a bad combination for American conservatives to espouse.

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The UK Election Means Voters Want Moderation, Not Socialism - The Federalist

Death by socialism: Demise of the world’s oldest bank – The Commentator

To my delight there was a honey festival locally. The Italians like this sort of thing, celebrating local produce whether it be lake fish, lentils or wild asparagus.

Tasting honey is a civilised way to live. The leaflet for the event, though, contained what for me was a bit of a surprise: it was sponsored, in part, by Banca Monte dei Paschi di Siena (MPS).

There is nothing wrong in principle with a bank funding local events. Mussolini passed a law that a percentage of a banks turnover should go to public good works, and it seems to be something the old boy got right. Its just that MPS doesnt have any money. Not even for a honey festival.

MPS, founded in 1472, is to banking what Alitalia is to airline management, and it is a tragedy that two such dreadfully managed companies should come from the same country. Whilst Alitalia decreed that all its staff should live in Rome, bussing them up daily to Milan and Venice, MPS went one step further.

You could only get on in MPS if you were a socialist. It was owned by a socialist foundation, and if your family were something in local lefty politics you could get a job in the bank. It is rather as if Alitalia had decreed all its pilots should be short-sighted.

I have an account at MPS, I should declare. Probably as a result of their entitlement, the staff were, by and large, rude and ignorant. Some of the ones higher up were corrupt as well. The organisation was not being run for the benefit of the customers, at least, and if it was for the shareholders they had a funny way of going about it.

Things had been going wrong for many years but it was not until the 2008/9 crash that they came to a head. It was the time, you will recall, that Natwest was getting itself into trouble buying ABN/AMRO. Banco Santander, one of its consortium, received as part of the deal an almost worthless Italian bank called Antonveneta.

Santander officials admit privately they were staggered when MPS offered 8 billion for Antonveneta. Staggered and delighted. And so the long decline began.

It is not as if MPS had been investing in sophisticated debt instruments: it hadnt yet got around to looking at this new stuff. MPSs problem was the traditional one of lending money to people who didnt have a hope of paying it back.

Amongst the bad debtors were friends of directors, socialist worthies and of course the Government of Italy whose debt collapsed in value after the crash. The socialist foundation which owned MPS refused to raise capital because its stake in the bank would be diluted.

So, without Collateralised Debt Obligations or anything like that, just through bad banking, the oldest bank in the world proceeded towards insolvency. Following a 2 billion bailout in 2009, by my calculations MPS got through around 8 billion in the period up to the present day. It is now of course bust again.

The late Christopher Fildes used to say that giving capital to a bank is like giving beer to a drunk. You know what he will do with it, you just dont know which wall he will choose.

Even five years ago MPS shares were at 900; today they are 15. Ten thousand euros invested in July 2012 would now be worth 170. But people did invest, many of them poor savers, persuaded into subordinated bonds which paid a bit more than the deposit rate. Even I was invited to buy this stuff; fortunately I knew what it was, a local farmer would not have.

Now the EU has allowed the Italian Government to make a final bailout, but only as part of a general resolution of the bank. Shareholders and junior debt holders will be wiped out. If the poor farmer has the wit he will claim he was mis-sold the investment and hope the government reimburses him.

MPS should have been wound up years ago. Italy has too many banks and those banks have too many branches. The foundation that owned it has learned that 95 percent of zero is worth the same as 0 percent of zero.

Italy will be better without Monte dei Paschi. The honey was good, though.

Tim Hedges,The Commentator's Italy Correspondent, had a career in corporate finance before moving to Rome where he works as afreelancewriter, novelist, and farmer. You can read more of his articles aboutItaly here

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Death by socialism: Demise of the world's oldest bank - The Commentator