Obama Contributes To Financial Crisis With New Cafe Standards
With the economy reeling and car makers either going bankrupt or barely able to keep their heads above watter, President Obama will announce new Cafe Standards that will require auto companies to have the average gas mileage of their entire fleet of cars to be at 35.5 miles per gallon or above by 2016.
This draconian measure by the current out of control administration in the White House should crush any possibility of an economic recovery as the nation struggles to bring itself out of the current recession. Expecting to cost consumers an extra $1,300 per high mileage car that people ultimately don’t want this move could spell the final death knell to US car makers. Not only will these midget cars cost more they will be less safe because of less safety devices and materials such as steel beams that keep drivers safe in the event of a collision.
Amazingly the new administration just seems to think they can push any kind of outrageous law on any US based company, that then gets passed on to consumers, and we’ll all just sit here and take it. While the president’s intentions may be good and he may ultimately want to save on gas, the final outcome will probably be the destruction of our economy.
New taxes, higher priced cars because of government intervention, higher gas prices because of government intervention and a never ending slate of more regulation that end up costing more and taking more money out of the consumers pocket will be the end of the US. One day our politicians will see that the public is not a never ending source of revenue or place to pass costs onto. There is a limit to what we can afford, unfortunately our elected officials don’t have a clue as to where that is. Let me give you a clue, we already passed it several miles back.
Maybe it’s time to buy gold coins or bullion and bury it in your back yard while awaiting the collapse of our economy.
Adam Smith - The Wealth Of Nations
In 1776 Adam Smith’s masterpiece The Wealth Of Nations was published, and in 1778 he was appointed to the commissioner of customs. The Wealth of Nations serves as the foundational critique and formation of the economics of the western world. In a job that enforced laws against smuggling, he didn’t quite fit in, considering that his book spoke of smuggling as legitimate activity in spite of legislation that was unnatural.
Smith never married, and died in 1790 in Edinburgh, Scotland. Although he didn’t leave behind a family, a wife, or children, Adam Smith certainly left a mark on the world with his reputation as a renowned economist and logistics man. He explained the rational self-interest in a free-market and how it leads to economic well-being, which is what keeps his reputation alive today.
Many think Smith was just an individualist, but his first work concentrated largely on ethics and charity. No matter what Adam Smith is presumed to be, he certainly has made his impact on a global economy that looks to his 2 centuries old writings for information about economics and how to survive difficult times. In today’s troubled financial times this makes him a highly regarded figure in the history of economics and finance.
Adam Smith - Father Of Modern Economics
Adam Smith is thought to be the father of modern Economics. He published The Wealth of Nations in 1776, which caught the public eye and skyrocketed him to success and fame as an economist. His work can be seen in the words of David Ricardo, Karl Marx, John Maynard Keynes, and Milton Friedman throughout the past two centuries.
Adam Smith was from Scotland, where he was born to a widowed mother who raised him on her own. He entered University at age 14, which was the standard at the time. He was on scholarship, which made no financial qualms for himself or his mother. Later, he went to Balliol College at Oxford, where he gained much knowledge of European Literature and distaste for English schools of all kinds.
He returned home after college and in 1751 was made the first chair of logic after giving a set of well-received lectures. In 1752, he was made the chair of moral philosophy. This all happened at his alma mater, Glasgow University. In 1764, he traveled throughout France and Switzerland, tutoring the duke of Buccleuch. This brought Smith many opportunities to see and meet people that he would have never thought possible on his own. He earned a life pension as a service to the duke, sending him to retire in his hometown and write the book that made him famous.
Stay tuned in the next couple of days for more about Adam Smith’s The Wealth Of Nations.