Starving the beast

I’ve long expected tax receipts to go down, but the speed with which government revenues have declined is jaw-dropping. Now this decline won’t necessarily affect anything, since the government funds itself by borrowing the money that the Fed is printing and this just means it might have to borrow more money in order to make payments on the interest. But, it is another indicator that change of a drastic sort is could be coming sooner than anyone expects.

Indict the Washington mafia

Mike Shedlock calls for the indictment of Ben Bernanke, Henry Paulson, and Bank of America CEO Ken Lewis:

Coercion To Commit Securities Fraud

It’s crystal clear from the letter that a strong case can be made that Paulson and Bernanke coerced Lewis to carry out a merger agreement that was not in Bank of America’s shareholders best interest…. As far as I am concerned, Paulson just pleaded guilty. I do not care what Paulson’s reasons were, no one is above the law.

Let the criminal indictments begin: Paulson, Bernanke, and Lewis.

I wholeheartedly concur. And I have little doubt that this is just the merest fragmentary tip of the massive iceberg that is the ongoing criminal government racketeering. Karl Denninger further explains the criminal action involved:

“Your first obligation isn’t to your regulator, it is your fiduciary responsibility to your share and bondholders. If your regulator decides to remove you from office as a consequence, they do. That doesn’t change a thing; your personal interests cannot override your responsibilities. As the CEO of a public firm you don’t work for the govermment, whether you think you’re some “left arm adjunct” or not. You work for the holders of your stock and debt – period. On this matter the law is clear, and the government, even post-TARP, had a minority stake. As such they lack standing to tell you to shut up when your obligation to disclose is a matter of black-letter law.”

Licking the jackboot

Most people don’t deserve freedom, because they don’t actually want it:

Police officers will be back on the street today in Elko New Market. The City Council voted unanimously Thursday night to reinstate the city’s police force. The vote, which came with some conditions, brought cheers from more than 150 residents who had crowded into Eagle View Elementary School, where the meeting had been moved because it offered a larger venue than City Hall.

Police officers in the community south of the Twin Cities had been on administrative duty since the City Council voted to remove them from patrol, effective at midnight April 9, with the intent of disbanding the department entirely on May 13.

It’s good to know the people of Elko New Market are once more free to enjoy no-knock raids, arbitrary traffic stops and indiscriminate fines. Those lawless two weeks of murder and mayhem must have taken a terrible emotional toll on them. And I can’t help but notice that the Star & Sickle report never bothers to explain why the City Council originally voted to get rid of the police, or why two members of the department require personnel reviews.