Archive from October, 2011
24 Oct
2011
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NYYRC November Social- Nov 2nd

JOIN US FOR A VERY SPECIAL NYYRC SOCIAL! Our very 1ST YR Auction! Bid on an evening out with one of our YRs and help us raise money for The Wounded Warriors and fellow YR Brian Maher’s candidacy for NY Assemblyman. 


 

Meet Kellie King!


Kellie lives in White Plains during the week and Monroe on the weekends. She works as a Director of Community Outreach and Marketing for White Plains Hospital. Kellie’s favorite ice cream flavor is mint chocolate chip. Her favorite cartoon character is Bugs Bunny. If Kellie was Snow White’s 8th dwarf, her name would be Overly Enthusiastic. Her hidden talent is that she can tie a cherry stem in a knot with her tongue. Kellie’s words to live by- “Good girls are just bad girls that haven’t been caught.”

Meet Diana Sepulveda!

 

Diana lives in Brooklyn and is a Senior Accountant at a public accounting firm in Midtown. Diana’s favorite board game is Risk. She prefers smooth over crunchy peanut butter. If Diana owned a yacht, she would name it Slippery When Wet. The last song that played on her iPod was “Across the Universe” by The Beatles. Diana’s words to live by- “If you can dodge a wrench, you can dodge a ball.”

Meet our President, Jen Gallacher!

 

Jen lives on the Upper East side and works in Online Marketing. Jen’s favorite ice cream flavor is Coffee. Her favorite board game is Scategories. If Jen owned a yacht, she would name it Nothin But Trouble. The last song that played on her iPod was “Moves Like Jagger” by Maroon 5. Jen’s words to live by- “It’s easier to seek forgiveness than ask for permission.”

Meet Jen Saunders!

 

Jen lives on the Upper East Side and works in Public Relations. Jen’s favorite cartoon character is Stewie from Family Guy.  Jen’s favorite board game is Candyland. If Jen had a super power, she would pick mind control. The last song that played on her IPod was “I Think We’re Alone Now” by Tiffany.  Jen’s words to live by- “If you’re not in first, you’re last.”

Meet Brian Morgenstern!

 

 

 

 

 

 

 

 

7:00-10:00 PM

Playwright (upstairs)

35th Street b/w 5th and 6th Avenue

Drink Specials, Cash Bar, Free Appetizers Served

Free Event, Members and Non-Members Welcome

First event of coming alone? Let us know and we’ll introduce you around.

RSVP: rsvp@nyyrc.com

 

 

24 Oct
2011
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Imagine that: Greed at OWS

Reports the New York Post:

Even in Zuccotti Park, greed is good.

Occupy Wall Street’s Finance Committee has nearly $500,000 in the bank, and donations continue to pour in — but its reluctance to share the wealth with other protesters is fraying tempers.

So the protestors are just regular people!  Not saints or martyrs like we’re taught by the media; and not exactly demons, their disgusting actions and signs notwithstanding.

Quoting a frustrated OWS bureaucrat:

“The other day, I took in $2,000. I kept $650 for my group, and gave the rest to Finance. Then I went to them with a request — so many people need things, and they should not be going without basic comfort items — and I was told to fill out paperwork. Paperwork! Are they the government now?” Smith fumed, even as he cajoled the passing crowd for more cash.

That’s an effective tax rate of 67.5%.  I wonder if they get deductions and allowances.  Maybe direct democracy isn’t the best form of government?

There was always a deep arrogance to this movement.  This just shows what arrogance brings: disappointment and resentment.

21 Oct
2011
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ABC News: Car Company Gets U.S. Loan, Builds Cars In Finland

ABC News reported yesterday that Fisker, a “green” car company funded by the Obama Administration’s Department of Energy, has outsourced manufacturing to Finland.  To quote CEO Henrik Fisker,

We’re not in the business of failing; we’re in the business of winning. So we make the right decision for the business. That’s why we went to Finland.

Clearly Mr. Fisker does not know how to speak to taxpayers.  In addition to founding a flailing company with public funds, he implies that Finland is a better place to do business than the United States.  Also, he sounds like Charlie Sheen.

Let’s further consider some of the facts.

  • According to SEC filings, Fisker has lost money every quarter.  A GAO report states “DOE cannot be assured that the projects are on track to deliver the vehicles as agreed… It also means that U.S. taxpayers do not know whether they are getting what they paid for through the loans.”
  • Along with Fisker, the Obama loaned another $465 million to Tesla Motors.  Thus far, Tesla has developed an exclusive $97,000 electric sports car.  Among the current owners of this vehicle are movie star, Leonard DiCaprio.  After spending the better part of two and a half years screeching about the rich, the Obama administration has effectively developed a $97,000 electric sports car that is purchased by millionaires.
  • According to a “20-year veteran of the electric car movement” Chelsea Sexton, “None of us with any experience in the industry think there’s any sort of guarantee they’ll make it.”
  • Al Gore, Mr. Global Warming himself, is a partner in the venture capital firm behind Fisker.  Google co-founders Larry Page and Sergey Brin, two Obama supporters, are investors in Tesla.  Can you say “crony capitalism?”

This story comes on the heals of the scandal that is Solyndra, the now infamous solar company that squandered $535 million in government loans.  In the stimulus alone, $60 billion were intended for “green jobs.”  Fisker, Tesla, and Solyndra account for just 2.5% of that $60 billion, yet the commonalities are apparent.

In all three instances there appears to be elements of politically incentivized loans that benefited connected Democrats (Gore, Brin and Page, and George Kaiser).  Each of the three companies is not, or at minimum not yet, financially viable.  It appears that oversight by government is in the hyperminimalist tradition, seeing as how Solyndra was a known flop, Tesla as of yet only produces high end sports cars that cannot reasonably be said to benefit the average American, and Fisker took its taxpayer loans and outsourced manufacturing overseas.  “Green” “investment” by government, we were told, were going to create green jobs.  How were we supposed to know that the workers would speak Finnish?

On a less snarky note, one wonders if such a massive series of scandals will remind the American people of government’s terrible record as a commercial investor.  Most Americans can accept a role for government in supporting basic, non-commercial research.  And even in this limited capacity, politics tends to corrupt (cf. global warming).  This aside, commercial ventures underwritten by government produce companies that are financial failures.  Although connected investors can make a profit by fleecing the taxpayer, when describing the activity of directing public funds to private companies, the words “graft,” “fraud,” and “laundering” are far more appropriate than “investment.”

20 Oct
2011
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Tea Party Leader: OWS Doesn’t Compare

Writes Mark Meckler, a co-founder of the Tea Party Patriots, the nation’s largest tea party organization, in Politico today:

We are not lawbreakers, we don’t hate the police, we don’t even litter. A quick glance at the TV reveals the sharp contrast to the Wall Street occupiers.

In recent days, I’ve been repeatedly asked by reporters, “Does the comparison now being made in the media between the tea party and the Wall Street protesters bother you?”

My answer is an unequivocal: “Hell yes, it bothers me.”

It bothers me because it groups millions of patriotic tea partiers, who want to build America back up, together with a bunch of criminals who want to tear America down.

In March 2009, I was back in my hometown of Huntington, NY (on Long Island) attending a Mark Levin Liberty & Tyranny book signing at Book Revue.  There were 5,000, 6,000, 7,000 people lined up to meet “The Great One,” all concerned about the future of the country and about the course that the then young Obama administration had embarked.  Although not billed as a Tea Party event, in retrospect these ordinary citizens who turned out en masse (the crowd was apparently the largest the venue had ever seen, and they host former presidents) were, in essence, the Tea Party.  I met people of all ages, all decent and respectful, with one common cause: to steer the country back to its Constitutional heritage.

Nobody was pitching a tent; nobody was smoking a joint.  The streets were litter and excrement free.  There were no anti-Semitic posters, nor any hate or class warfare speech generally.  The fellow behind me in line was a lawyer who worked for a municipality, and there were business owners, parents and grandparents, and even a handful of children.  For over four hours I waited in line with the other patient Levin fans, and not one indecent incident occurred either on the sidewalk or in the bookstore.  All were friendly and motivated.

The comparisons of the Tea Party to OWS are ludicrous and insulting.  Governor Chris Christie and President Obama appear to be reading the same talking points.  Republicans who embrace the Tea Party are rewarded with votes and support, and rightly so – for the principles of good government are truly bipartisan.  Democrats and Republicans who embrace the radicals of OWS and compare these misfits to the Tea Party will have their reputation marred.

20 Oct
2011
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NYYRC Monthly Meeting Tonight!

NYYRC Monthly Meeting Tonight!

7:00 – 8:30pm
WNRC, 3 West 51st St between 5th and 6th Avenue

Guest speaker: Glenn Hubbard, Dean of the Columbia University Graduate School of Business and Columbia University Professor of Finance and Economics.  He was the Council of Economic Advisors under President George W. Bush and is an economic advisor to Mitt Romney. He is a visiting scholar at American Enterprise Institute.

Limited # of Copies of his book Seeds of Destruction: Why the Path to Economic Ruin Runs Through Washington, and How to Regain American Prosperity will be available at the meeting.$20

*Glenn Hubbard will be starting promptly at 7pm*



Free Event, First event or coming alone? Let us know and we’ll introduce you around!
Business attire required. No jeans, sneakers, hats, sweatshirts, etc.
Join us in the Pub afterwards for drinks, food, and discussion. Cash Only

RSVP: rsvp@nyyrc.com

14 Oct
2011
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OWS’s Jewish Problem

Some evidence to weigh when judging OWS (and other Occupy movements):

Anti-Semitism rears its ugly head at OWS
http://dailyrushbo.com/limbaugh-anti-semitism-rears-its-ugly-head-at-ows-the-jews-own-wall-street/

OWS Protester Proclaims “The Jews Control Wall St.” in Zucotti Park Rant
http://www.freerepublic.com/focus/f-news/2791880/posts

Mark Levin reviews audio of OWS Protesters, recorded by WABC Radio in NY
http://www.youtube.com/watch?v=a2JGmhttIew&feature=related

“Crazy anti-Semitic Guy”
http://www.youtube.com/watch?v=0xa-cOqNWtM&feature=related

Hate at Occupy Wall Street
http://www.youtube.com/watch?v=NIlRQCPJcew&feature=related

More Anti-Semitism at Occupy Los Angeles

http://pajamasmedia.com/tatler/2011/10/13/more-anti-semitism-at-occupy-los-angeles/?singlepage=true

Finally, while not anti-Semitic, the video below clearly shows the mob-like, almost demonic elements of the movement.  Of all the videos, perhaps this is the most unnerving.  The will of participating individuals is subsumed into the collective will and guided by the creepy dude in the red shirt, who serves as a kind of medium for the group’s “consensus” in true Hegelian fashion.

Occupy Atlanta Silences Civil Rights Hero John Lewis
http://www.youtube.com/watch?v=3QZlp3eGMNI&feature=related

Is it not absolutely repulsive the way these people speak and act?  Try to find some examples of Tea Partiers spewing such hateful language on YouTube.  Upon your search, maybe you’ll find this:

The OWS clips posted above are disturbing and indicative of a movement that is more concerned with stoking the embers of chaos rather than reforming the system.   (If it were unnecessary to share the videos with a broader audience for educative purposes, I’d let them alone to never be seen and heard again.)  They are also severely politically incorrect; which is to say that no elected official would ever get away with talking like that – not yet, anyway.  Despite this being so, President Obama and former Speaker Pelosi have both explicitly sympathized with the movement.

Contrast OWS with the Tea Party.  The news media refuse to report the darker underbelly of the Occupiers, yet has spent years trying to find definitive examples Tea Party racism.  Scour YouTube for such examples and you may find questionable signs, and comparisons of the Obama administration to different forms of Marxism.  However, what is remarkable is that in a 3 year old movement with millions and millions of members, only a very small number of such videos are available.  The majority of the Tea Party is made up of hardworking, peaceable, and respectful people: largely parents and grandparents concerned about the future for their children.

On the other hand, consider that OWS is hardly 3 weeks old there are already a plethora of instances of hate speech directed at a certain religion and individuals of a so-called economic class.  Is this footage splashed CNN, ABC, or NBC?  Is the NYT running an expose on the radical elements of OWS and their provocative  language?  Do the protesters regularly receive lectures that their extremism is dangerous, like Tea Partiers must endure (when in fact what they insist is that the Federal government should operate within its lawful bounds)?

The media has been caught, again, covering for the left.  Equally alarming is the support that these anarchists have received from the Democrat party.  Americans, slow to act but quite discerning, should soon come to associate OWS and its radicals with the Democrat party itself.

12 Oct
2011
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Occupy Wall Street and President Naomi Klein

As a New Yorker, a conservative Republican, and Editor-in-Chief of the NYYRC’s official blog, I feel compelled to offer some commentary on the misfits collectively known as “Occupy Wall Street” who are trashing Zucotti Park downtown.  I suggest that elements of my background may lend some credibility to the following commentary.  For example, I have been a conservative activist since 2004; I learned of the Canadian organization Adbusters (the neo-socialist group behind OWS) while living in Canada years ago; I joined the Tea Party shortly after its formation; I worked for both a “Wall Street” bank and security exchange; and finally I’ve spent the last three years studying and observing this modern day depression, as well as the policies and people who are perpetuating it.  Let’s start at the beginning.

Who is Adbusters? They are a small group of radicals devoted to ending capitalism.  They sponsor Buy Nothing Day and Buy Nothing Christmas, which encourage people to abstain from all commercial activities at least two days per year.  At their core they are Marxists, denouncing the alleged spirit-crushing evils of capitalism.  Their stated goal is to “topple existing power structures and forge a major shift in the way we live in the 21st century.”  Adbusters are the organizers of OWS, as evident by their homepage.

Closely related in belief to Adbusters is Canadian author Naomi Klein, whose book The Shock Doctrine identifies the economics of Milton Friedman as a source of cultural corruption.  Klein’s first book, No Logo, is described by Wikipedia as a “manifesto for anti-corporate globalization movement.” In other words, business is the enemy of the people and must be controlled strictly, if not entirely appropriated, by government.  While such anti-capitalist frothing may be acceptable on college campuses worldwide, reality has thus far rendered the likes of Adbusters and Klein adherents a fringe group that appeals to the bohemian lifestyle of unemployed dilettantes.

But it’s not only mush-headed students who are part of this movement.  Indeed, it is diverse and includes Marxists, neo-Nazis, bestials, violent revolutionaries, anarchists, , druggies and sexual exhibitionists, vagrants, 1960’s hippies, and other such parasites and know-nothing types.  OWS famously blocked traffic on the Brooklyn Bridge and clashed with the local authorities.  A list of thirteen OWS demands can be found here, and includes everything from the pat (Restoration of the Living Wage) to the zany (reestablishing … the natural flow of river systems) to the ludicrous (Outlaw all credit reporting agencies).   Thrown in for leftist orthodoxy are Single Payer Healthcare and Open Borders.  If something works for other people, whether that be capitalism or the damning of a river, you can bet they’re against it.

More recently, these hooligans have been joined by Democrat constituent groups such unions.  Many prominent Democrats, ranging from members of Congress (notably former Speaker Pelosi) to President Obama himself, have expressed sympathy with OWS.  The movement has spread to other cities outside of New York, including Atlanta and Washington D.C., where protesters sought to storm the Smithsonian.  OWS, like Adbusters, has gone international.  I know this because on Sunday I was in Montreal, and three bearded individuals speaking French were rallying park-goers to attend “Occupy Montreal.”  Yes, Adbusters is also dedicated to “toppling the existing power structure” that is the socialist government of Canada.

In this hardcore anti-establishment vein, communist firebrand and former White House Czar Van Jones described OWS as the “American Autumn,” a not-so-subtle allusion to the so-called “Arab Spring” that swept across the Middle East, deposing dictators and leaving many countries, most notably Egypt, in dangerous political turmoil.  No doubt Jones considered the Arab Spring fortuitous; Communists are revolutionaries for revolutions’ sake, and nothing excites a modern day Jacobian like the prospect of punishing enemies with force.  Putting asides the dangerous aspirations of this former Obama confidant, the very fact that a high ranking, politically connected Democrat with ties to the White House helped organize these protests demonstrates conclusively that OWS is not a spontaneous movement but a desperate political ploy by the Democrat Party looking to generate excitement amidst collapsing support by Americans.

Nearly since the beginning of this spectacle, the media has done their best to portray OWS as a liberal equivalent of the Tea Party movement.  Occasionally, a mainstream media pundit will say that OWS and the Tea Party have much in common – for example, their distrust of power.  At The Atlantic, a contributing writer even offers a “conservative defense” of OWS.  Such comparisons and attempts are difficult to stomach, and their repeated appearance is one reason why I’m taking the time to explain who OWS consists of and why they are nothing like the law abiding conservatives who make up the Tea Party.

In the two years plus since the spontaneous organization of the Tea Party, I cannot recall even one criminal act being committed by Tea Partiers.  Despite multiple attempts by the media to portray it as a racist movement bent on overthrowing the government (presumably, following this twisted logic, because the current president if half black), not one video has emerged as evidence to this narrative.  Although there have been repeated attempts to smear Tea Partiers by the media and even by elected Representatives, the truth that has emerged in the end simply doesn’t fit the stereotype.  The rise of Herman Cain among GOP presidential candidates further explodes the myth of a racist Tea Party, as it infuriates the left.  As for the ludicrous claim the the Tea Party is anti-government (as opposed to anti-Big Government), its critics are sadly too dull to understand that Constitutional government requires that elected officials respect the limits placed upon them by the highest law in the land.  Conservatives support a constitutionally limited federal government, as every decent American should.  As a final point of contrast, all accounts of Tea Party rallies have been famous for their respect of the venue, nearly complete lack of litter, and heartfelt patriotism.

OWS is not liberal Tea Party; they are the losers of society who have nothing better to do but waste time and be destructive.  Of course, society has always had and always will have its losers, and a portion of them will always be sore losers.  That’s fine; conservatives do nothing if not relentlessly accept the imperfectability of man.  However, it does say something about our current president and his party that they sound more like the radical Marxist Naomi Klein than the republicans James Madison or John Adams.

There will be more to come…

4 Oct
2011
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Our Greek Tragedy

For hard money enthusiasts, what is happening today in Greece and throughout the continent of Europe is nothing short of a modern day tragedy.  The peaceful and vibrant Western Europe that emerged following the war is descending into anarchy as EU Member countries experience something yet unprecedented in the long history of the continent: the bankruptcy of a common currency, the euro.

Leaders of fellow EU nations claim that they will not allow Greece to declare bankruptcy under any circumstances.  To do so would be a tremendous blow against their monetary union.  Yet this is the same official stance that’s been held for years among European authorities.  In the meantime, national finances have only grown direr, and today Greece is joined by Italy, Spain, and Portugal.  Even France has had their credit downgraded.  It seems almost certain that the EU will experience a form of bankruptcy, which the euro may or may not survive.  To keep Greece and the other countries solvent, Europe must either continue to monetize debt and in the process dilute its currency, which would ultimately end in certain calamity; or, strategically default, thus severely relinquishing economic power to her creditors.  Both of these choices are devastating.

The silver lining for Europe is that there may be a third option: to drastically revise and curtail its social welfare programs, the very institutional distinctions of the modern Europe state.  This would involve making tough decisions now regarding entitlements and domestic spending, and drastically reducing the size and scope of European government. Implicit in such a decision is coming to terms with basic, common sense economic principles, which its leaders have stubbornly chose to deny and disregard for generations.  If Europe embraces the common sense approach in an attempt to avoid economic meltdown, Europe should also consider re-implementing “hard” money, i.e. gold, as a common currency.

Long before the euro, Europe had common currency in gold.  From 1750-1870, Europe was on the classical gold standard; and from 1870-1914, Europe was on the gold exchange standard.  Why is a gold standard preferable to fiat (i.e. “paper”) currencies?  Many reasons, including that a gold standard by its very nature more closely calibrates the interests of neighbor nations and people.  It removes from government the potency to corrupt currency markets, and thus prevents the spawn of such corruption – destabilizing market crashes.  It makes it very hard for a nation to declare bankruptcy because it facilitates good bookkeeping practices.

I argue that Europe is not going to lose a common currency if and when it loses the euro, at least not in the economic sense.  Instead, Europe would lose a currency that has been used as political chips by European leaders.  Gold was and still could be a truly common currency, which simultaneously limits and checks the size of government by forcing it to adopt honest accounting standards.  A gold standard prevents cheating and defrauding by virtue of the fact that gold is rare and (extremely) uneconomical to manufacture.  The same cannot be said of paper money.   To raise funds under a gold standard, governments must raise taxes or float bonds to the public.  Fiat money allows governments to purchase their own debt with manufactured money.  In a sense, the euro does not prevent cheating by governments like gold did.  No, it was much too modern for any kind of metal, or what John Maynard Keynes referred to as a “barbarous relic.”  The euro is 20th century “managed currency,” who managers claim, in no uncertain terms, the ability to reduce unemployment by government counterfeiting.

There are very solid philosophical grounds on which to reject fiat currencies as the ideal medium of exchange.  It might sound boring, but accounting is serious business. The information contained in financial data is irreplaceable, and it used by everyone in society from the individual to the family to the federal government.  Poisoning the unit of account (i.e. the euro) through currency debasement causes widespread economic dislocation, unemployment, violent swings in asset prices, and overall chaos.  Yet this knowledge, known well by their forebears, is something that European governments have chosen to willfully ignore for generations.

Consider: Gold has been the world’s currency for 5,000 years, or longer.  It was the money of the industrial revolution.  Its record at maintaining value is undisputed.  It contributed mightily to peacekeeping efforts in Europe from 1750-1914.  Gold forces government to be honest in its financing.  Most fundamentally, it preserves the integrity of the monetary unit and facilitates honest and meaningful financial accounting.  While there are practical problems of keeping an international gold standard, many of these shortcomings are well understood and straightforward to correct, particularly when compared against the problems engendered by fiat currencies.

It seems to me that something is especially tragic when it is wholly avoidable.  We Americans should take head.  Europe’s economic hubris is our own.

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