Printed on 10/25/14

The Economy

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I believe in the principle of limited government at the lowest level, while maintaining personal and private property rights. Local communities should run their schools, manage their growth and provide basic services to their citizens and communities. We must keep government intervention and growth to a minimum, and allow businesses to do what businesses do best - provide jobs, create wealth and grow a strong economy. -- Kent Lambert

Attacking the Colorado Economic Crisis


Legislative Council Staff Economic/Revenue Forecast Sept 2014

Office of State Planning & Budgeting Revenue Forecast Sept 2014

The Recession: Public and Private Employment in Colorado Jan 2008 to Jan 2012

My recent article: "Lessons Learned From the 2011 Budget Cycle"

United States National Debt Clock

Colorado Debt Clock

Slide Presentation: "The Global Debt Crisis: What Is the Evidence and Does It Matter?

Streaming video of Sen Kent Lambert and Dr Ronald Scott presentations to the Pikes Peak Economics Club

ECONOMIC SURVIVAL KIT


The Recession: Public and Private Sector Jobs Jan 2008 to Jan 2012

Private and Public employment in Colorado Sept 2011

Regional labor and unemployment rates to Feb 2011

United States National Debt Clock

Colorado Debt Clock

Logarithmic decay of the US dollar: why we need alternatives

Kansas City Federal Reserve briefing on Colorado Issues. Slides 8 & 9 show significant drops in employment in construction, manufacturing and mining.

Shadow Government Statistics show that unemployment rates are climbing at an alarming rate while production is falling dramatically. SGS compares official estimates with possibly more realistic estimates. Some estimates show that national unemployment is now be over 20%.

Unemployment trend map graphically shows the rapid growth of unemployment. Note that this shows the limited U-3 statistics, not the more comprehensive U-6 statistics.

Do you know someone who is OFFICIALLY UNEMPLOYED, or are they just an UNDOCUMENTED GOVERNMENT STATISTIC?

Follow these key indicators:

Spot Gold Price: Monitor the fall of the U.S. dollar compared to the only true gold standard, gold itself.

Dollar Index: Monitor the drop in the buying power of your money due to inflationary policies of the Obama Administration and Federal Reserve.

Many politicians, economists, and their supporters in the press support the idea that massive government spending will help stimulate the economy through "confidence" alone. Of course that means they have a vested interest in presenting a rosy picture even as their policies continue to fail.

History and common sense demonstrate their policies are totally wrong, and will only create a temporary ILLUSION of wealth that will cause even more catostrophic results and loss of individual wealth and liberty.

The current U.S. policy is reminiscent of its model, the Roosevelt Administration of the 1930s that engineered the continuation and deepening of the Great Depression. If you liked that Depression, you'll love the future decades of inflation and unemployment now being created by the Obama Administration! The answer to all questions is to print more money and go into greater debt, as shown in this Hollywood propaganda piece. Watch and Learn!

To better understand classic liberal economic principles, and to understand and survive the present economic crisis, I would suggest the following references, and let YOU decide!

The Road to Serfdom, by Frederick Hayek

Basic Economics, by Thomas Sowell

The Law, by Frederic Bastiat FREE AUDIO DOWNLOAD

Money, by James E. Ewart

Meltdown, by Thomas E. Woods, Jr,

Commanding Heights, at www.PBS.org (six hours of free streaming video)

The Idea Channel, at www.ideachannel.tv (free streaming video of all of Milton Friedman's famous "Free to Choose" series on PBS)

The Crash Course, by Chris Martenson (20 free streaming video lessons)

Money as Debt, by Paul Grignon (free 47 minute streaming video)

The Ludwig von Mises Institute website

McAlvaney Weekly Commentaries offer insightful current information

Are You an Austrian? lets you rate yourself using a fun quiz as to whether you are an "Austrian," "Chicago School," "Keynesian," or "socialist" economist.

Shadow Government Statistics attempts tracks important economic statistics that the Federal Reserve no longer makes public.

RSCC Economics Forum


The Republican Study Committee of Colorado (RSCC) hosted a round table working group on the economic and budget crises.

Some of the leading economists in Colorado attended, including Dr. Paul Prentice (UCCS and Independence Institute), Dr. Barry Poulson (CU and Independence Institute), Dr. John Cochran (Metro State and Von Mises Institute), Penn Pfiffner (Independence Institute and Colorado Union of Taxpayers), and Mr. Jeff Wright (financial network engineer and tax-reduction advocate). See Participant biographies.

Discussion topics included national and international economic trends, current monetary policies, collapsing business and unemployment, and the resulting pressures on the state budget and retirement system.

The working group immediately followed the official release of the March state economic forecast, which is driving even deeper cuts to the Colorado budget. The forum is part of on-going RSCC discussions to create a strategic roadmap to support economic recovery and prosperity.

The RSCC currently has 29 legislative members who are dedicated to a limited and Constitutional role for civil government, free markets and free commerce.

Summary and streaming audio of RSCC Economic Forum

The 2008 Federal Bailout


"Eight years of the Bush Administration was responsible for creating this current crisis." NOT! See this article from September 1999 in the "highly conservative" New York Times! So what is really going on? The article by Arthur Laffer, The Age of Prosperity Is Over, describes the economic morass we are inviting upon ourselves unless we stop panicking, stop the liberal tax increases, and follow a policy of economic growth!

Obama's Fiscal Policies

Many economists maintain that the economy would rebound much sooner without Obama's heavy-handed approach, as laid out in this Wall Street Journal article.

PERA


The state retirement system lost at least $13 BILLION dollars in 2008, and the Democrat leadership still refuses to take action!

In January, 2009, I submitted questions for the Joint Finance Committee to transmit to PERA. My questions and PERA's reply are HERE and HERE. PERA's consistent strategy has been to refuse to admit that they have a problem, and delay any corrective action until 2010. With no action, PERA outlays are continuing to increase, including a major COLA increase in March. Our concern is that PERA refusal to take action will continue to cut in to their assets until the retirement plans of current employees will be a severe risk.

On March 17, I wrote a letter to the Speaker of the House, co-signed our Republican Minority Leader Mike May and Rep. Jim Kerr, advocating an Emergency Select Joint Committee to address this crisis during this legislative session SEE LETTER, and Speaker Carroll's response HERE.

Obviously, there is no Democrat interest in fixing PERA's fiscal problems in 2009, which could lead to even more problems in the future.

Also see University of Colorado professor Barry Poulson's lastest report on PERA HERE.



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