Magic Words in Politics
Thomas Sowell
China is the largest foreign holder of U.S. government bonds. But, instead of buying more of those bonds as our skyrocketing national debt leads to more bonds being issued, China has been selling some of its U.S. government bonds this year.
The Chinese are no fools. They know that all this unbridled spending-- even when it is called "investment"-- means that inflation is coming. That in turn means that the dollars with which U.S. government bonds will be paid off will be worth a lot less than the dollars with which the bonds were bought.
Governments around the world have played this game for centuries, robbing those who trusted them enough to buy their bonds. Like Bernard Madoff, they call it "investment."
Inflation also means that all the talk about how higher taxes will be confined to "the rich" is nonsense. Inflation is a hidden tax that takes away the value of money held by everyone at every income level.
Abraham Lincoln once asked an audience how many legs a dog has if you count the tail as a leg. When they answered "five," Lincoln told them that the answer was four. The fact that you called the tail a leg did not make it a leg.
It is too bad that Lincoln is not still around today. He might emancipate us all from our enslavement to words.
When you call something a "stimulus" package, that does not mean that it actually stimulates. The way individuals, banks and businesses in general are hanging onto their money suggests that "sedative" package might be more accurate.
This is not a new phenomenon, peculiar to this administration. President Bush's "stimulus" package did not stimulate either. The same was true back in the days of Franklin D. Roosevelt's "pump-priming" by spending government money to get private money flowing.
The circulation of money slowed down back then the way it has slowed down today.
Read it all here:
http://townhall.com/columnists/ThomasSowell/2009/04/14/magic_words_in_politics
Sowell makes me think. His frequent discussions of language remind me that politics is art of the weasel word. Have to write something on that. ~Bob
Thomas Sowell
China is the largest foreign holder of U.S. government bonds. But, instead of buying more of those bonds as our skyrocketing national debt leads to more bonds being issued, China has been selling some of its U.S. government bonds this year.
The Chinese are no fools. They know that all this unbridled spending-- even when it is called "investment"-- means that inflation is coming. That in turn means that the dollars with which U.S. government bonds will be paid off will be worth a lot less than the dollars with which the bonds were bought.
Governments around the world have played this game for centuries, robbing those who trusted them enough to buy their bonds. Like Bernard Madoff, they call it "investment."
Inflation also means that all the talk about how higher taxes will be confined to "the rich" is nonsense. Inflation is a hidden tax that takes away the value of money held by everyone at every income level.
Abraham Lincoln once asked an audience how many legs a dog has if you count the tail as a leg. When they answered "five," Lincoln told them that the answer was four. The fact that you called the tail a leg did not make it a leg.
It is too bad that Lincoln is not still around today. He might emancipate us all from our enslavement to words.
When you call something a "stimulus" package, that does not mean that it actually stimulates. The way individuals, banks and businesses in general are hanging onto their money suggests that "sedative" package might be more accurate.
This is not a new phenomenon, peculiar to this administration. President Bush's "stimulus" package did not stimulate either. The same was true back in the days of Franklin D. Roosevelt's "pump-priming" by spending government money to get private money flowing.
The circulation of money slowed down back then the way it has slowed down today.
Read it all here:
http://townhall.com/columnists/ThomasSowell/2009/04/14/magic_words_in_politics
Sowell makes me think. His frequent discussions of language remind me that politics is art of the weasel word. Have to write something on that. ~Bob
Posts
DAR
ReplyDeleteSpeaking of "magic" and "weasel" words, watch how Sowell chooses his words here and carefully leaves out context to give the wrong impression:
"China is the largest foreign holder of U.S. government bonds."
Yes, but that is a fairly recent occurrence (they surpassed Japan, August of last year). Yet, they steadily bought US bonds, every month at least into January.
SOWELL
"But, instead of buying more of those bonds as our skyrocketing national debt leads to more bonds being issued, China has been selling some of its U.S. government bonds this year."
DAR
Carefully worded and misleading. China HAS been buying more bonds but in January and February, they sold some and then resumed buying in March.
Source: http://tinyurl.com/c4dxox
Sowell is playing word games while pretending it's wrong to do that. In January of '08 China held $492.6 billion in US Treasury Securities. By January of this year they held $739.6 billion, a vast increase. Yet Sowell implies the opposite when he says: "instead of buying more of those bonds..."
The record shows they have been buying more of these bonds and faster than anyone else.
See the month my month chart here:
http://www.treas.gov/tic/mfh.txt
And I unpacked that much distortion within his first two sentences. Just imagine what's in the rest.
D.
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“It is the duty of every man, as far as his ability extends, to detect and expose delusion and error. But nature has not given to everyone a talent for the purpose; and among those to whom such a talent is given there is often a want of disposition or of courage to do it.”
--Thomas Paine, preface to Age of Reason, part 3
Darrel just hates Sowell because he's black and much better educated. Darrel doesn't have the stones to sign his comments with his full name and address, as I do. And you know where to reach Tom Sowell as well--Stanford University.
ReplyDeletePeople ask why I allow Darrel's comments to be published since I moderate the blog. I want folks to see what the comments of a bedwetting cowardly leftist are like. It can only help our cause.
I asked Darrel - assuming that's not a nick name from prison--what he had ever done to serve the country. He had no answer.
Wonder if he has a job, or is just pushing the socialist agenda because he hopes those of us with jobs will be forced to share the wealth with him.
Bob Hall
9023 Columbus Lane, 2H
Des Plaines, IL 60016
I've heard rumors that the federal govt gave China a written agreement granting China the right to use eminent domain within the USA as collateral for China's purchases of US treasury notes. I have no idea if it's true. Do you know anything about that?
ReplyDeleteHALL:
ReplyDeleteDarrel just hates Sowell because he's black and much better educated.>>
DAR
a) I don't hate Sowell, I just know him to be dishonest, or at a minimum a misinformed conservative, like yourself.
b) He's black? I didn't notice. Like Stephen Colbert, I don't see color. And do remember, it's your party that is up to the eyeballs in racists, not mine (registered independent and rather conservative).
c) He is certainly better educated than I am but why this should be insulting to me is not clear. Just because a person is educated doesn't mean they know how to think. You haven't learned that yet?
HALL:
Darrel doesn't have the stones to sign his comments with his full name and address, as I do.>>
DAR
You didn't ask.
Darrel Henschell
3663 N. Old Wire Rd.
Fayetteville, AR. 72703
I frequently gave the url to my website (fayfreethinkers.com) which has this information. Your not big on details are you Bob?
HALL:
People ask why I allow Darrel's comments to be published since I moderate the blog.>>
DAR
I bet they do. Why let someone post who actually promotes questioning and thinking, responds to points directly and references claims rather than just goose stepping with "dittos" all the time?
I have a forum too Bob. We've had 13,700 posts since 2006 and have not censored a single post (aside from porn spam of course). But people want you to censor/ban my comments? The far right is so very consistent: can't compete on a level playing field and like to censor while at the same time going on about "freedom of speech." Sad.
HALL
I want folks to see what the comments of a bedwetting cowardly leftist are like. It can only help our cause.>>
DAR
What about my posts suggest that I am a coward Bob? Do tell. Be specific. Give me an example. We'll see who's a coward. I have specific and repeatedly pointed out factual errors on this blog. You don't respond. You run. I don't do that. If I do, then you can rightfully call me a coward.
What your cause needs is a little contrasting opinion. Too much incest around here. It's making you all dumb. The errors compound. This is not good, not healthy.
HALL:
I asked Darrel... what he had ever done to serve the country. He had no answer.>>
DAR
When did you do this? I had no idea you asked this. I am serving my country right now. We need all hands on deck. Enough with the nonsense, denial of reality and rightwing gibberish. The country has been put in a ditch by rightwing nutbars who can't think straight and I have a little knack for helping them along. That is, unless they are too cowardly to consider having their facts corrected.
HALL:
Wonder if he has a job, or is just pushing the socialist agenda because he hopes those of us with jobs will be forced to share the wealth with him.>>
DAR
Hey Bob, instead of concocting imaginary (and false) personal attacks out of thin air (I've had my own business for 19 years and paid about $22,000 in income tax last fall) why don't you try responding to my points directly? That's what I do. It's a little harder work but it's much more rewarding.
Unfortunately, you responded to nothing in this post. It's nothing but baseless insults. I'm certain you can do better than this.
Darrel.
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"The modern conservative is engaged in one of man's oldest exercises in moral philosophy: that is the search for a superior moral justification for selfishness."
--John Kenneth Galbraith, economist, author
Sowell is right. Language is important, and does shape thought and perception. Control the language and you control the thoughts of your audience, whether readers or listeners.
ReplyDeleteUnfortunately, that means that Darrel also has a point: Sowell does sometimes let his own outrage come through in his word choice, and doesn't always make sure to include all information. However, that's where his point ends, as liberals always use language to stir emotions, less often use logic, and never include all information (they almost always either overlook or don't even notice evidence that goes against their arguments). Conservatives--thoughtful ones--at least try to remember to acknowledge all sides and evidence.
Aristotle was so afraid of the effects of language and rhetoric that he wrote a textbook on how rhetoric worked and how to use it to make sure that good men wouldn't be taken advantage of by the unscrupulous.
Unfortunately, most don't read Aristotle's important work. Most don't understand how language shapes thought. And that majority elected "the man with the tan" because they couldn't see past his rhetoric to his reality.
And in the interests of fairness, I'll also give my real name (I'd been posting as Heroditus Huxley--my blog name) and address. I don't give my phone number out to my students, so I won't make it available to blog trolls (who might perhaps wake the baby to no purpose).
Holly Chism
509 N Ball St
Webb City, MO 64870
Well, we’ve smoked out Darrell’s address, at least. When he says I didn’t ask, he means publically on the blog. He knows I’ve sent him several e-mails asking him to identify himself as I do. Just a little white lie.
ReplyDeleteAnd when he says he didn’t notice that Sowell was black (though Sowell’s picture was on the post and on his columns), he says he doesn’t see color. Sure. That’s why he refers to the President as “the man with a tan” in one of his posts. Just a little white lie. Like most SLP supporters (That’s Socialist Labor Party, what the Democrats should be called), he only sees color when he wants to. Like if they think a company should be prosecuted because they don’t have the same % of minorities as in the general public, even though average age of the members of the minority may be 15 years below that of white workers, thus naturally there’s be a lower % in the workforce. They notice when it’s time to provide minority set asides for contractors (though sometimes not too well—The Democrats here in Chicago often give “minority” contracts to white-owned, politically connected businesses. Some are doing time for that. They sure noticed when they said they wouldn’t seat any senator appointed by corrupt Democrat Rod Blagojevich, but immediately caved in when the appointment was black. And they called for Burris to resign when they discovered he’d lied, but shut up when black “leaders” pointed out that, hey, Burris was still black, his major qualification for the office.
Despite his sudden surprise, I’ve asked Darrel how he ever served the country. His response was he’s serving it now. I assume he thinks running his mouth is equal to serving in the military, in public office, or working for a non-profit making the country better. Something tangible.
And, no, I don’t think Darrel’s a racist. Just wanted him to understand how frustrating it is to not be able to criticize the President without being called a racist.
As to Sowell being misinformed or not knowing how to think, he has a degree from Harvard, a master's in economics, and a PhD in the history of economic thought from the University of Chicago. He has taught at Cornell, Amherst, UCLA and Stanford, among others. He’s a best selling author of dozens of books and his economic books are being used worldwide as text books. And Darrel has published, what? Apparently a whole lot of people think that Dr. Sowell thinks pretty well and is pretty well informed.
Darrel is a thinker because he says so. Who pays him for his thoughts, as they do Sowell? Oh, wait, SLP supporters don’t believe the market proves anything, they think others should be forced to pay for what they want, like NPR and public art.
Darrel makes much of being an independent. Well, me too, Darrel. My voter card here in Blagobamaville doesn’t mention me being registered in any party. But if it waddles like a socialist and quacks like a socialist….
TartanMarine said...
ReplyDeleteWell, we’ve smoked out Darrell’s address, at least. When he says I didn’t ask, he means publically on the blog. He knows I’ve sent him several e-mails asking him to identify himself as I do. Just a little white lie.>>
DAR
a) I have never received an email from you (but do feel free to send me one).
b) I don't lie.
TARTAN: As to Sowell being misinformed or not knowing how to think, he has a degree from Harvard... etc.>>
DAR
That's nice, so does Obama. Having degrees doesn't mean you know how to think or are right on any specific point. That's a pretty obvious fallacy. I am not so much impressed with degrees but rather, good arguments. Rather than respond to my points regarding Sowell's article, you respond with a list of degrees and the claim that "a whole lot of people" thinks he "thinks pretty well."
This is your idea of a rebuttal?
D.
Every comment comes to me to be moderated. I respond to almost every one with an e-mail, even if just "thanks." Since other people respond to me on those e-mail, not sure why Darrel says he hasn't gotten any.
ReplyDeleteI don't have the time to respond to every post--i have a full time job.
Yes, I think pointing out how much better educated, respected and published Dr. Sowell is is a rebuttal. But I don'tt need, nor do I have the time, to rebut every comment.
And, no, I', not asking people to call you. Why would they want to. But I publish my info, so think asking you to do the same is the same rule for me, since you have so much time to comment.
MY my...Robert has a lot to say. What are his "soluntions" to the problems? I'm sure he is a Cristian - a very GOOD Christian And I have some suggested readings for him. Acts 3:32-5 and the book of Msthew..especially the SERMON ON THE MOUNT. (provided he can take time from writting... Riley in Brownsville. rileymorgan@yaho.com
ReplyDeleteI guess my comment did not meet with approval. Riley in Texas... I guess one is not allowed to disagree with Hall
ReplyDeleteDear Mr. Morgan,
ReplyDeleteI deeply apologize that I was not sitting at my computer this morning, waiting for your e-mail, so I could post it.
You certainly have a right to be upset. At 6:38 am, you submitted a very thoughtful and well reason response to Dr. Sowell's column, which I had linked to, though you seemed to think his name was "Robert"--at least you replied to Thomas Sowell's column that "Robert" had a lot to say. And, there you sat, waiting a WHOLE SIX Minutes of your precious time, for me to post your comment. Then, at 6:44 am, after that long wait, without me responding, you sent the message about no one being allowed to disagree with Hall. (Though you were disagreeing with Sowell--or at least posting on the column by him. Very confusing, especially as, if you read through the blog, I've allowed many posts that disagree with me.)
I realize it's no excuse for keeping you waiting, Mr. Morgan, but I have what we Republicans call a JOB! You see, if some of us don't work, there wouldn't be any wealth to spread around. So this morning, I didn't have time to go on line to see if you had sent a column, as I had to get to the office. I realize it was thoughtless of me to put my employer ahead of responding to you, but there it is.
Tonight I had only a moment to grab a bite before I had to be on a business conference call. After it was over at 8 pm, I went on and tried to respond to 99 e-mails. Since you were clearly the most important person, I saved yours for last.
But how to answer your e-mail? Have I read the book of Msthew? (sic) Never heard of it. Am I a good cristian? (sic) Well, I'm a Presbyterian, is that a cristian? But I don't talk about my religion much on the blog and don't try to convince other folks what they should believe. So, yes, I'll take time from what you call "writting" to respond and to post your piece. I think it will amuse people and thank you for it.
You ask what are my soluntions (sic) to the problems? Well, I try to lay out solutions when I have one. I think the first step is to identify the problems. I’m working on a piece on government “reforms” that I think would help, but I doubt we can interest either party in them. Still, we must all try.
And, yes, to be fair, I make typos too. But my computer has something called spell check. I recommend it to you...out of cristian charity.
~Bob