America in Decline

MARK STEYN has an article that hits home many things about the U.S. Read the whole thing.

Many of us fear the debt burden and its impact on our competitiveness worldwide. We’re mortgaging the future of the country class to pay for the sins of the ruling class.

Will we take our first step in stopping this on November 2nd? I don’t know, but if we don’t, we’re finished.

Juan Williams v. NPR

I have always like Juan Williams. Despite the fact he is a liberal (and wrong), I always enjoy reading his writings and watching him debate conservatives. Can you believe that NPR terminated his contract for simply stating his opinion on Fox News.

You always hear that conservatives don’t want debate, if conservative are elected, there go our rights, etc.

Well, it certainly seems from all the trash on the curb that NPR has been trying to stiffle the opinions of Juan for quite some time. I thought NPR was for free speech and open debate. I guess not. It is quite telling that NPR fires Juan the day after it is reported the Soros gave them a large sum of money.

I certainly hope that Justice investigates this silencing of free speech by NPR. Maybe, that will mean the end of our funding of this fraudulent conveyor of  free speech. The reality is, NPR is one more liberal organization trying to silence everyone who disagrees with them.

Not something our tax dollars should support.

States v. Washington, D.C.: Is it time for the divorce?

I’m a devot federalist. I have been since I came of voting age during the Reagan administration. I have firmly believed my whole life that the problem with the country is the concentration of power in Washington. It is there that the complex web or laws, regulations, administrative rules, etc. are enacted upon the people and businesses in the country. It is also there where members of the ruling class exempt themselves from very rules and regulations we must live under. They continue to provide themselves with benefits in excess of the value they deliver to us.

Many of the states are controlled by the same mindset that controls Washington, i.e. we, the government, will provide for all of your needs and wants. However, those of us in the country class know that this enabling cannot continue without severe ramifications to the economy and the American culture.

Our country is built upon the rock of self-reliance. We provide charity to those in need, but this charity is (and should be) provided outside of the control of government. Once the government controls charity and provide the majority of the people the very sustenance required to survive, we will have lost the culture war and the nation.

The current ruling class seems bound and determined to ensure we lose the America we were suppose to be. Due to that, I believe it’s time for a divorce. The only question seems to be: Will this be a peaceful or violent divorce? Either way, I’m in.

How to get out of this economic mess?

Well, it certainly seems like the Fed has decided the only real way to get out of this mess is through inflation. With the dollar in a free-fall and no support at all from any of the usual suspects, it appears that the Fed and the administration are happy with this decline.

Perhaps, they are thinking that the dollar’s free-fall will stoke foreign demand for U.S. products. What they seem to forget is the fact that we import most of what goes into the products we manufacture here. Therefore, you’re inflating the cost of the goods to be sold thereby increasing the sales price and taking away any price advantage a falling currency value might have provided you.

At this point, the only thing inflation will do is to bring back memories of the Carter years and stagflation.

Accountants: Has the FASB outlived its usefulness?

As a CPA, I endeavor to keep up to date on the lastest and greatest from the rulemaking bodies, i.e. the SEC and the FASB. As the accounting standard setting bodies try to move U.S. GAAP towards international standards, one thing is becoming very clear. The FASB, like the current administration in Washington, doesn’t listen.

Similar to the professorial clique currently running the Obama administration, the FASB (and the IASB the standard setters for international standards) are full of people who have never had to implement a standard and would not know how to book a journal entry into a set of accounts if they had to. Not really listening to your constituents is a bad thing. Look at Obama’s approval numbers since his steamroll on health care.

I believe a similar thing is starting to happen with accountants. If we, the practictioners, don’t believe in the accounting fictions being created, how can we do our job. How can you sign a certification required by law on an SEC document that says you have reported numbers correctly when you don’t believe the underlying standards are correct?

One way is to get rid of the FASB and have the feds develop the accounting standards we use. While this might seem like a bad move, I know I can influence a politician and get him to listen. I wish I could say the same for those at the FASB.