The Socialists Among Us

I have some acquaintances who are socialists. No joke. These are folks who are very serious about big government, free healthcare, dynamic regulation, elimination of the military budget, and, especially, the redistribution of wealth through taxation. There is one fellow who advocates the complete elimination of the U.S. Banking system. He would replace it with a People's Equity Union.


The fellow's name is Mike Morin and he lives in Oregon. His website is http://peoplesequityunion.blogspot.com/2009/08/demise-of-supply-side-economics.html.

Mike is one of the premier socialist thinkers on the west coast. He has a strong following and at every turn does what he can to promote socialist ideals. He is very well educated and has worked in both the public and private realms. Mike and I have corresponded and we seldom agree on a course of action for our nation and economy. However, I find him to be a fascinating free thinker who does not let external stimuli deter him from his personally accepted mission of being the evangelist for modern socialist thought.

The People's Equity Union concept is his and it is a very interesting idea. It is the alternative to the status quo. From Mike, "The Peoples' Equity Union would be a worldwide united equity system with cooperating inter-community entities. It would preclude the use of loans, which are fundamentally usurious. It would place the most destitute, the most in need, and all children (which Mike defines as about 25 years old or less) as the highest priority. However, the Plan would include the needs of everybody. As the old Socialist slogan goes, "for all according to their needs, by all according to their abilities"."

Essentially, all banks would become not for profit. Profits made beyond a pre-determined return to the poor workers, would be re-invested in worker/community betterment hybrid businesses (preferably cooperatives).

Much of this depends on massive changes to our economy. Ending what Mike calls the inflationary spiral. So, we must have a 100% stable currency. Any inflation throws off the equilibrium of the concept. Thus, all other countries must also buy into the Equity Unions. Massive re-education programs would be required to eliminate capitalist thought. Keep in mind, all Americans who have been used to making profit in a business or investment and retaining that profit must return their profits to the community. Over time, all business services and consumer products will be provided through cooperatives where everyone in the community benefits.

My main question regarding the re-education program is whether it is voluntary or compulsory? In most of the socialist/communist countries in our immediate past, the re-education was compulsory at the point of a bayonet. USSR, China, North Korea, Vietnam, and Myanmar come to mind. Many of these countries were closed societies at one point in their histories. North Korea and Myanmar are still closed societies, maintaining their distance from the rest of the world and keeping their foot on the neck of the peasant lest he gather himself up and think for himself for once.

This certainly flies in the face of Darwinist Economics. But, then again, our government's actions during the beginning of the crisis flew in the face of the Darwinists. We threw money everywhere to save banks and auto manufacturing. Now, we have nationalized a major insurance company, several banks, and two of three auto makers. We may be on our way to having de facto People's Equity Unions on every corner. Mike's Utopian dream is not over as long as our government continues to move toward nationalization of various industries and businesses.

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Excerpted from Bloomberg.com:

Man Up Obama
Commentary by David Reilly

Feb. 12 (Bloomberg) -- President Barack Obama is starting to look like the second coming of Jimmy Carter. If he’s going to avoid that fate, the president had better take radical action -- and fast.

That means doing more than offering belated talk about jobs, or waging ineffectual on-again, off-again bank warfare. What, after all, is the point of bashing Wall Street only to then blow bonus kisses to JPMorgan Chase & Co. chief Jamie Dimon and Goldman Sachs Group Inc. head Lloyd Blankfein?

Obama needs to ditch his professorial, community-organizer mien and start cracking some heads. Unless, that is, he is intent on paving the way for a Palin presidency in 2013.

Read the entire column here: http://www.bloomberg.com/apps/news?pid=20601039&sid=a4hIeftRVyvE
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Oh, lord save us from a Palin Presidency. Democratic Commentator Ken Bauer recently wrote, "If Palin is nominated, it would the best thing to happen to Obama for his reelection. She's a clown. Yes, she has a strong and vocal following. I think a lot of people will see through her act. Romney, on the other hand, is a different story."

Commentator David Reilly really tells it like it is in his column. He is right in many ways. One day Obama is raising hell about Wall Street bonuses and now he does not begrudge a bonus. He wants to regulate the banks and when the bank lobbyists get pissed and try to make him look bad, he reneges. He goes to Copenhagen to build the case for Global Warming, cap and trade, etc. For all his Green rhetoric, he comes back empty handed (which was a good thing for our Nation). Is it the concept that the less he does the less he can be blamed? He sequesters himself to consider the changes he wants in the strategy of Afghanistan. He essentially gives the generals all they asked for when the process started. (Sure, they asked for 40K troops and got 30K troops, they always ask for too many so they eventually get what they need). So far, it is a fairly weak presidency leaving much fodder for the likes of Hannity, Beck, Letterman, Leno, et al.
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Geitner and Larry the Econ Guy need to go. Rahm should stay. Rahm will remind people about all the things they dislike about slimey lawyer politicians from Chicago. He is the poster child for political A**holes. (Everyone has a little Rahm Emanual in them. We sit on it everyday!) Geitner has lost his credibility as has Summers. Can anyone really take these guys serious? I personally have a hard time having someone leading the Treasury who has cheated on his taxes. It’s Turbo Taxes Fault? No way! I have used Turbo Tax and Tax Cut and will use Tax Cut again this year. The software does not allow you to make mistakes. It warns you repeatedly when something isn't right with big red marks. Geitner lied and cheated on his taxes, end of story. If Timmy falls in the well, let’s hope Lassie ignores it.

Until we meet again, Happy Trails!