In Silverwolf’s previous blog, he had bemoaned the fact that Congress looked set to pass the horrendous $700 Billion Bailout Bill, and set America on a non-redeemable course towards ever-increasing inflation. But the amazing turnaround we saw in Congress today, spurred in large part, in Silverwolf’s view, by the impact of Ron Paul’s Presidential Campaign on the thinking of America, is one of the greatest victories in the last half-century of the Free-Market over Fascism and Communism, two twin-sister organized religions with millions of dead victims on their hands. Of course, Ron Paul did not do this alone. There were many other Congressman who heard the call, not only from those of us in the blogging community, who spoke out vociferously against this attempted looting of the taxpayer, but also from those of us who took the time and effort to email our Congressman and Senators and express our horror and outrage. They were fully aware of the columns of calumny that would cascade down on their craniums if they voted with the Wall Street Communists. In the end the Republicans voted 65-133 against the bill, and the Democrats voted 140-95 to give away $37,000 to Wall Street for every man, woman, and child in the country, voted to keep the price of homes out of reach of the working man, especially the non-union worker, and voted to further inflate away the purchasing power of all pensions and all savings in America. Fortunately the sane amongst the Republicans and Democrats voted for the people, but the fact that the Democrats voted roughly 2-to-1 against the poor and the pensioners, while the Republicans voted 2-to-1 for them, should be remembered by those who are constantly braying about how much the Democrats care about the little guy. There is your proof, oh blind ones.
The moderating influence on prices of the rejection by Congress has already begun, as crude oil rudely roiled the market by plunging an entire Hamilton in one day. If such drops hold, it will almost certainly mean lower prices at the pump, thanks to the constant warnings of economic patriots like Ron Paul. Copper also cracked the $3 level today for the first time in a long time, and that will mean lower building costs if that drop holds too. And the Dollar had one of its best days in years, further enriching poor Americans. Deflation is good for the poorer strata of society, as long as they can keep their income flow flowing. Deflations were greeted with great joy in the past by the working poor, since the cost of grains and basics usually fell 20-50 percent. It was the rich who got hit, but since they already had enough to support thousands in those medieval times, their suffering was relative, never absolute, unlike the peasant who starved as soon as he went broke. Deflationary periods are good, natural and healthy, and transfer assets from greedy foolish hands, to hands both wiser and luckier (though often only the latter). As the ancient trading saw goes, “Bulls make money, and bears make money, but hogs get slaughtered.” And not only in finance.
Kudos to Ron Paul and his fellow Republicans who voted with him, and Democratic Liberals who saw through the pablum, like Kucinich, Sherman, and DeFazio. Thank you all for saving America’s future.
Hooooooooooooooooooooooooooooooooooooooooooooooowwwwwwwww! — Silverwolf
