- March 23, 1775 is the day
Patrick Henry gave his famous
"Give me liberty or give me death"
speech. Listen to the speech and
how it pertains to the health care
bill that was ironically signed on
the same day 230 years later.
- Patrick Henry Audio
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- July 14, 2010 - Crisis of Uncertainty
The Senate is set to pass the 2300 page Financial Regulation Overhaul Bill that will require no fewer than 243 separate rule-makings by 11 different federal agencies. Over the next 6-18 months these regulators will enter into a period of intense rule making affecting everything from financial institutions, banks, large and small businesses and even individual credit card and checking accounts. This law contains very few specific rule changes that businesses can plan for and understand in advance of having to comply. The rule of law will now depend on what the regulators determine is the best set of rules without ever having to ask you or your representatives for approval.
What this sets up is a system where whoever has the most lobbyists will be able to have the rules tailored to benefit their business. The largest businesses with the most money to spend on lobbyists will be able to work hand in hand with the government to ensure that the rules work in their favor and to the detriment on their competitors.
How will small businesses be able to start or grow if the largest corporations can simply change the rules in order to make it impossible for them to succeed? Who in their right mind would risk the time and money it takes to start a business in this type of environment?
What this bill creates is a permanent ruling class that will control the wealth of the nation. In order to succeed you will have to become part of these enormous corporations and the limits of your success will be solely in their hands. Despite the fact that many of these people started with nothing and built their empires based on the merits of their ideas they want to see that door shut behind them.
The United States grew into the economic engine of the world from 1787 to today because our system was the most stable and free system in the entire world. The laws were well known, clearly written and strictly enforced providing the greatest guarantee of individual property rights the world has ever known. With this new law if your business is deemed a threat to the system in the judgment of an appointed regulator than the government can take you over, seize your business. Even if they don't outright seize your assets they can arbitrarily change the rules at any time putting you at a disadvantage that you may not be able to overcome.
This system is doomed to failure due to the fact that the types of individuals that would aspire to hold these powerful regulatory positions tend to be the worst type of people in a society. The type of person who strives to control others and sees the opportunity for personal gain in the lobbying of their favor tend to be of a despicable nature prone to corruption. Our founders warned us repeatedly about the danger of placing unchecked power in the hands of individuals and yet with each new law we create more Czars and regulators that answer to nobody.
Our only hope lies in the courts to overturn this new law and the health care law based on the fact that they are so vague that almost any activity can be arbitrarily deemed illegal.
From The Gods of the Copybook Headings by Rudyard Kipling
In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: "If you don't work you die."
Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew
And the hearts of the meanest were humbled and began to believe it was true
That All is not Gold that Glitters, and Two and Two make Four
And the Gods of the Copybook Headings limped up to explain it once more.
As it will be in the future, it was at the birth of Man
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool's bandaged finger goes wabbling back to the Fire;
And that after this is accomplished, and the brave new world begins
When all men are paid for existing and no man must pay for his sins,
As surely as Water will wet us, as surely as Fire will burn,
The Gods of the Copybook Headings with terror and slaughter return.