Author: donelsonfiles

by Dr. Larry Fedewa (September 29, 2018)

The Threat

The greatest threat to the long-term security of the United States of America is the $21 trillion (and growing) national debt. There are many possible outcomes of an uncontrolled national debt – none of them good.

Gradual outcomes have already begun in the form of efforts to undermine the position of the dollar as the world’s reserve currency. The chief force behind this move is China, with serious support of the International Monetary Fund (IMF) which, with the support of the Obama administration, invented its Special Drawing Rights (SDR’s) as an alternative to the dollar for international trade. 

Further, the new international development bank called BRICS (Brazil, Russia, India, China, South Africa), an economic coalition representing 41% of the world’s population and 23% of the global Gross National Product (GDP), has pledged to fund a one trillion-dollar development bank to rival the World Bank and the IMF. The rapidly increasing preferred currency of BRICS is the Chinese yuan. BRICS started as an economic coalition for mutual support but has already begun to branch out into nuclear security and similar fields of cooperation.

Some commentators, such as James Rickards, see this and similar efforts as genuine threats to the stability of the dollar. As long as the huge debt keeps growing and the proportion of the world gold supply held by the USA keeps dwindling, the USA stands to continue watching confidence in the dollar decrease apace. That path eventually leads the USA toward becoming a giant Greece or post-WWI Germany.

Another threat to the US currency is the rumor that twelve “blue” states, led by California, are set to begin circulating dollars backed by state banks (rather than the US Treasury) as legal tender to undercut federal control of the US economy, reverting to pre-Federal Reserve (1912) US practice. If true, this could have catastrophic consequences for USA solvency, perhaps the end of “King Dollar”.

Conservative Support for Donald Trump

One of the first reasons many conservatives supported Donald Trump for President was their expectation that the national debt was one of his main targets in making America great again. So far, there has been no movement in that direction other than his bargaining a lower price for the Jerusalem embassy and some similar economies. So, the question is, Does Mr. Trump have a long-term strategy for eliminating the national debt? Budget hawk Paul Ryan’s leaving his power position as Speaker of the House does not look like a good sign.

The Trump Strategy

There is a school of thought that maintains the following logic:

• in order to have a chance at reducing federal spending, the USA has to have a thriving economy, because experience shows that a country cannot spend its way out of recession. The Obama administration tried that and contributed to the longest recession in history.
• But neither can a country starve its way out of recession, because the population will not stand for it.
• Therefore, the only time spending reductions can be made successfully is when the economy is booming. This was known even in biblical times, as in the story of Joseph and Egypt’s seven years of plenty followed by seven lean years.
• It is also necessary in these times of international challenges to maintain the USA’s military preeminence in order to guard the peace. Starving the American military as the Obama administration did would work only in a world without enemies as imagined by Obama’s idealists.
• A strong military and a strong economy are also necessary conditions for prevailing in a contest of wills over radical re-alignment of trading relationships.
• In order to prepare the country for federal cost-cutting, therefore, these preparations are necessary.
• Conclusion: We are still in the first stage of the Trump national strategy,
• The next step will be a debt reduction phase.

The Cost Cutting Phase

It is clear that the key to reducing the national debt as well as securing the dollar is the so-called entitlements. We have already heard President Trump’s most basic approach to this issue. Namely, he has promised not to rescind the Government promises to those who have contributed all their working lives to Social Security. Speaker Ryan’s formula for dealing with this issue recognizes the Government’s moral obligation to honor its role as custodian of the contributors’ funds, but also saves significant money by gradually adjusting the timing: raising the eligibility age from 62 to a later date (which corresponds to changes in the workforce which have already occurred). There are also other minimally painful adjustments available in areas of other federal and state pension programs, such as, civilian, military and railroad employees. Another area of saving has already begun with the reduction regulations and the corresponding need for enforcement personnel. The key is not really the actual metrics; at this stage the keys are the will to do it and the adequacy of the  targets.

Energy

I cannot leave this topic without noting another possible advantage that may be emerging in defense of the dollar. That is the steady increase in America’s energy production. In the past, America’s major attractions to the rest of the world have been our nuclear shield and our huge retail markets. Our chief exports have been technology and the corresponding jobs it created.

The energy revolution adds a major new dimension to our export menu. With the investment and legal facilitation of more sources and more refineries, America can emerge from its status as a buyer of energy to a world exporter of energy. The transition holds enormous leverage for America’s international position in reversing the balance of international trade, reversing the outflow of petrodollars, enhancing our defense of Europe, and ultimately raising our cost of living. This monumental change in America’s international position might even influence the longevity of the dollar as the world’s reserve currency – replacing gold as guarantor.

Let’s hope President Trump is on the same wave length!

Larry Fedewa is the host of the Dr. Larry Show.

© 2017, Richfield Press. All rights reserved.

Founded in 2002, Powerlineblog has consistently been one of the best conservative blogs and gained recognition for its role in covering Killian documents story related to George W. Bush service in Texas National Guard services which ended Dan Rather role with CBS as much of the data presented by CBS. Uncovered proved to be false.  Time Magazine named Powerline Blog

Scott Johnson

The original writers were Minnesota lawyers, Scott Johnson and John Hinderaker plus Paul Mirengoff, Washington DC lawyer. Mirengoff left in 2011 and replaced by Steven Hayward but a year later, Mirengoff rejoined the staff to complete the present writer staff.

 Steve Hayward

What makes Powerlineblog interesting is its sharp writing and the writers’ ability to write on a variety of issues. Pieces on climate change are some of the best journalism on the subject as they review the latest research and unlike a good portion of the MSM journalists writing on the subject, these gentlemen actually read the science and understand it.

 Paul Mirengoff

Scott Johnson has been the first to warn America of the danger poised by Minnesota congressman Keith Ellison and detailed much of his early career that Minnesota media as well as much of the National media has ignored like his position on law enforcement, his support for open borders on immigration, his real relationship with Louis Farrakhan and reviewing charges against Ellison of sexual abuse.

Scott Johnson and former law partner John Hinderaker written on other issues including dealing with income inequality, tax reforms, affirmative action and welfare reform and both fellows of Claremont Institute. John Hinderaker is presently the President of Center for American Experiment.

 John Hinderaker

Steven Hayward is a scholar with a long lists of accomplishments including two excellent books on Reagan and Paul Mirengoff, like the others, often writes about a variety of subject and some of their best writings deals with sports including international soccer and historical sports moment featuring great moments in baseball.  They have occasion even written on boxing and it is evident that they understand the sport.

What Powerlineblog is not is boring and worth a daily viewing by any conservative.  And throughout the 2016 election, they took Trump serious as a candidate and unlike many conservatives, they didn’t automatically went Never Trumpers during the 2016 primary and while they may not always like the tone of Trump, they have defended his policies.

The most fun is the week in pictures in which Powerlineblog uses picture with memes to mocked the latest left craziness and always include a picture defending the second amendment.   Powerlineblog needs to be read by any concern conservatives.

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There are many great political journals and journalists on the right worth reading on a daily basis.  National Review and its online version NRO are my favorites and I have a few friends’ works there including senior Editor Ramesh Ponnuru and John Fund.

Many Trump supporters view National Review with suspicion and that began with their December 2015 issue making the case against Trump.  Let put this in perspective. In December 2015, there were serious question about Trump, not the least that it wasn’t that earlier that Trump was a registered Democrat and funded a few Democrat campaigns.  In 2012, Trump was to the left of the “Gang of Eight” that attempted immigration reform in 2013 while National Review opposed the Gang of Eight.   Nor did he run like a typical conservative during the 2016 primary and he attacked much of the foreign policy of the Bush years.

There are many Trump supporters today who agreed with National Review in 2015 and at least one major populist/conservative pundit who write for The Gateway Pundit , Cassandra Fairbanks was a Bernie Sanders supporter.  I was a never Trumper in the primary before becoming a Never Hillary in the general election.  Back to National Review and while many on staff were Never Trumpers like David French and Jonah Goldberg, others like Conrad Black and Victor Davis Hanson defended Trump and made the case for his Presidency.

In one of the 2016 February issues, Rich Lowry and Ramesh Ponnuru outline an agenda combining Trump populism and conservatism, an agenda that Trump has followed for the most part.  Trump policies dealing with immigration reform, tax reform, regulation reforms, and Supreme Court Picks resembled what National Review recommended as a course of action.

Even today, the Never Trumpers on the National Review staff support much of the Trump agenda nor have they called for Republican defeat in the midterms like Washington Never trumpers like Tom Nichols have called for.  And there are plenty of staff members who have supported Trump as they did in 2016 election. What National Review provides is an intellectual basis for the populist movement and anchoring it to conservatism.  Reagan provided a gateway to populism and conservatism in the 1970’s and 80’s, showing how a synergy between conservatism and populism can work.  So far, Trump has shown populism and conservatism can be merged.   Since 1955, National Review has helped defined and defend conservatism.

The first in a series on Conservative journals and website.

Kavanaugh is now a Supreme Court Justice but what we witnessed was nothing less than smear campaign organized by the Democrats and the left to sink the reputation of a good man.  The more we are learning about all of this, the more we should realize that this was ambush that had nothing to do with truth.

While Kavanaugh is now confirmed, there are many questions that need to answer, beginning did Dr. Ford commit perjury?  Federalist columnist Margot Cleveland reported, “Most significantly, following Ford’s appearance before the Senate Judiciary Committee, a former long-time boyfriend of Ford’s provided the committee a statement claiming that years ago he had witnessed Ford help her close friend, Monica L. McLean, “prepare for a potential polygraph exam.” Ford’s former flame added that his then-girlfriend “explained in detail what to expect, how polygraphs worked and helped McLean become familiar and less nervous about the exam…If the ex-boyfriend’s letter proves accurate, Ford risks criminal liability for making a false statement to the Judiciary Committee because  Ford unequivocally testified that she had never “had discussions with anyone, beside [her] attorneys, on how to take a polygraph,” and had never “given tips or advice to somebody who was looking to take a polygraph test.”

Grassley also received information that Ms. McLean may have pressured a witness to change her statement and Ms. Cleveland added, “In a statement to the Judiciary Committee, Keyser had stated under penalty of perjury that she did not remember any such party as Ford describes and did not know Kavanaugh. Yet she later did “clarify” that she believes Ford’s claim that Kavanaugh attacked her. Whether McLean, a retired Federal Bureau of Investigation agent, contacted other supposed witnesses or otherwise helped Ford craft her instigating letter to Sen. Dianne Feinstein—or possibly leaked that letter—is unknown. Grassley seemed focused on obtaining the requested material. And if Ford won’t provide the information voluntarily, Grassley (or the FBI upon launching an investigation into whether Ford testified falsely before the Judiciary Committee) may seek subpoenas for the relevant material.”

So did Ms. McLean tamper with witnesses and what else did she do?  This story could unravel even further and American voters may be more convinced that Dr. Ford and other accusers lied about Kavanaugh and many Democrats will have to defend their no vote.  Of the political consequences, Cleveland warns, “Consequentially, Democrat senators who vote “no” later today will thus likely face an electorate a month from now that is less divided over Ford’s veracity. Rather, they too shall see a failed political assassination attempt of a now-seated Supreme Court justice…Democrats’ failure to consider the trajectory of Ford’s uncorroborated sexual assault claim was a huge miscalculation for red-state Democrats up for reelection. While it already appears that Sen. Heidi Heitkamp’s re-election bid in North Dakota is doomed, the more damage Ford’s tale takes—and the more individuals implicated in her last-minute attempt to derail Kavanaugh’s nomination—the more Democrats are going down.”

We truly don’t know what happened to Dr. Ford but it is apparent that she has no evidence that it was Kavanaugh who sexually assaulted her and as for others, Debbie Ramirez, there was no collaborating evidence and then there is weird case of Michael Avenatti and his client Julie Swetnick, the college student who cruised the various high school parties where gang bangs and drugs were prevalent.  Ms. Swetnick may have committed perjury and her interview on NBC, where she walked most of her accusation was a disaster and reinforced in the minds of many voters that she was lying and with her, the case against Kavanaugh started to collapsed.  Avenatti whose own goal is self -aggrandizement and not the benefit of his client, may have helped save Kavanaugh.  Michael Avenatti views himself a Presidential candidate in 2020 and his action is about showing he is a fighter and a leader of the resistance but his introduction of Swetnick was not only a disaster but it began the imploding of the case against Brett Kavanaugh.

The tactics used by the Democrats and the left were beyond abomination.  As Ms. Cleveland, the case against Kavanaugh has imploded with evidence that that any of the events Kavanaugh was accused even happened.  We saw a coordination of groups and the Democrats to smear Kavanaugh and do what it took to sink the nomination, now they will campaign against an illegitimate Supreme Court. The left forever will state there are two sexual predators on the court, which is rich considering that they tolerated a sexual predator in Bill Clinton for decades and willing to go after any woman who dared to accuse of him of sexual assaulting them.   Where are the metoo leftist when it comes to Keith Ellison or since he is one of them, is he off limits?  It is time for those on the right remember the Rules for Radicals and force the left to live up to their own standards.  There is far more evidence that Ellison committed abuse than Kavanaugh ever did. Yet the left and Democratic Party support his candidacy for Attorney General and the Minnesota Senators running for re-election this year have no only not condemn him but endorsed his candidacy.

Democratic Senator Tom Carper admitted that he hit his wife hard enough to give her black eye and he is running for Senator this year but where are the demands that he resign his Senate seat and not run for office?  When Dan Abrams Law and Crime website asked Democrats in August what they thought of Carper run for office and not one responded back.  Maybe when some Democrat complains about Kavanaugh, just simply ask them, “What about Ellison, What about Carper?”  And don’t quit until they answer! As the case against Kavanaugh imploded, the Democrats need to answer for their smear campaign and be forced to account for those among their own ranks who have their own abuse history to answer for.