New Article Hightlights Establishment's Disdain for Tea Party

Here is an interesting piece from the Washington Post.

With the Tea Parties starting have an effect on elections across the country, the establishment is not pleased. Why? Because they know that the Tea Party is seeking to hold them accountable. It is my experience that when establishment politicians are upset, something good is happening. Incumbents hate being held accountable, and they will seek any route to discredit their opponents.

With Michele Bachman in the House and Rand Paul soon to be in the Senate both seeking to form a Tea Party caucus, the establishment is squirming, and I am loving every moment of it.

Please read the article here and enjoy such gems as the one below from the oblivious Trent Lott.

Former Senate majority leader Trent Lott (R-Miss.), now a D.C. lobbyist, warned that a robust bloc of rabble-rousers spells further Senate dysfunction. "We don't need a lot of Jim DeMint disciples," Lott said in an interview. "As soon as they get here, we need to co-opt them."

But Lott said he's not expecting a tea-party sweep. "I still have faith in the visceral judgment of the American people," he said. 

(Enough to make you sick, right?)

Regulatory Reform Support Shows Misunderstanding Across the Board

Politico reported yesterday:

The Republican rhetoric sounded tough on financial regulatory reform early this week...

...But behind such tough talk is a realization within Republican ranks that several of their own may find themselves voting with Obama when the final Wall Street reform deal comes together.

Of course, this sort of behavior is nothing new. In it we see more evidence of talk lacking action in Washington, and we see that principle has little place in the actions of many in government. When pressed on the issue I would venture that many of those who support the financial regulatory reform package would claim to support free market economics. Their support for such a measure, however, points in the opposite direction.

More than just lacking principle, anyone supporting the proposed legislation must also lack sound economic understanding. Simply put, the regulatory reform bill is indicative of the incorrect diagnosis going around as to what cause the recent financial collapse.
William L. Anderson correctly notes:

The meltdown did not occur for lack of regulation, but because of moral hazard. When the government agreed both tacitly and openly to backstop Wall Street losses, and when huge pyramids of "investments" were piled on mortgage securities (also tacitly backed by the government) that turned bad, a meltdown was inevitable.

The meltdown did not occur in a "free market orgy." Indeed, the market exposed the foolishness on Wall Street, which long ago had jumped into bed with the politicians.(Wall Street has been a major campaign contributor, and politicians don't want to lose their cash cow.) Furthermore, the bailouts have not prevented us from going into a depression; they only have prolonged the financial agony.

Dr. Anderson is dead on. An incorrect storyline is going around regarding to the cause of the economic collapse. The free market was not to blame for our crisis, contrary to the cries of statists and economic fools. Rather, the free market was not even able to operate! Instead, the government's involvement in the market drove malinvestment and created moral hazard. This resulted in economic ruin, just as the Austrian free market folks predicted years in advance.

In addition to the failed reasoning behind the bill, it is also bad policy (here's why)--plain and simple. Folks on the left and right both fear that the bill will harm upstart businesses, and others are concerned about the impact it will have on the greater world of business, investing, and on our economic system itself. Still others feel that more government influence is not the solution. Indeed, it was the government that brought about our problems in the first place.

The Republican senators looking to jump on-board the Obama Administration regulatory reform wagon, should do their homework before they support poor policy based on bad information. And if they do support such a measure, they should never claim support for the free market system again. Instead, they will forever show their statist colors.

What to Look for at the Southern Republican Leadership Conference

This weekend Republicans from across the country will flock to New Orleans for the Southern Republican Leadership Conference. The likes of Newt Gingrich, Sarah Palin, Bobby Jindal, Ron Paul, and a host of other top Republicans will be giving speeches in order to garner support for themselves and their causes. Moreover, for those GOPers looking at a presidential run in 2012, a SRLC straw poll victory would be a great thing to take away from their time in The Big Easy.

Here are five things to look for during and right after this weekend's festivities in Louisiana.

1. Look for each speaker to try to out-conservative the other. Obviously, this will be quiet hilarious for a number of reasons. Sadly, Dr. Ron Paul will be the only consistently true conservative in attendance; the others will merely be putting on a show. Evidence of such will come in speakers mistakenly flexing their war muscles, believing such is traditional conservatism; it isn't!

2. Look for very little mention of George W. Bush. This will be the complete opposite of the 2006 SRLC when John McCain urged his supporters to write in the former presidents name to show their support and Lindsey Graham called Bush "the Churchill of our time." Don't worry, The GOP establishment still loves W. They just know that real conservatives do not.

3. Look for more calls for war. Iran needs some bombing and many at the SRLC will be happy to give it to them. Look for talk of Obama being soft on defense, soft on the War on Terror, and soft on Iran. Of course, the president is almost identical to Bush, so don't believe it for a minute.

4. Look for a condemnation of Obama policies across the board. I am in agreement with most of this. Obama has failed pretty much in every area. He is an enemy to constitutional government, does everything bad that Bush did, and has lied time after time by not keeping his promises to the American people. The problem is that the same things can and should be said of most of his GOP opponents. Hypocrisy will be the true theme of the SRLC. The GOP will call Obama out on policies of which they themselves are guilty.

5. Finally, if Ron Paul wins the straw poll, look for it to be downplayed. If he losses, look for a big deal to be made of the winner.The establishment does not look favorably on Dr. Paul's success; CPAC showed that. Therefore, I am looking forward to Paul supporters ticking them off.

Though their will be a lot of hypocrisy and neoconary going on in New Orleans this weekend, the liberty movement will be there as well. So keep an eye out, point out wrongs, and celebrate victories!

April Fools from the NRSC

Now, this is funny!

Hat Tip: Matthew Hurtt