1. In the November 1968 issue of The Objectivist, Joan Blumenthal writes in "Art For Power's Sake" that the United States Supreme Court ruled in 1942:
"It is hardly lack of due process for the Government to regulate that which it subsidizes."
I bring this up to note that the government "investing" $750 billion -- and that's just the starting figure -- will likely bring a disastrous increase of government power over Wall Street. The state regulated through the SEC and laws such as Sarbanes-Oxley before they were invested. Imagine what they will do now that the government is subsidizing Wall Street. For instance, until now they have "jawboned" CEO's about "golden parachutes," huge bonuses, etc. Do you think lawmakers will be content from now on with just complaining?
2. Whichever candidate is elected, we will likely see a vast welfare state program in which young people do "service" to the government in exchange for a college education. This will be the beginning of a program that eventually forces every young person to serve the state for two years, either in the military or some make-work program. It will be spirit crushing drudgery that will be hardest to bear by the best, most independent thinking young minds.
3. Barack Obama is the first presidential nominee to use legal and mob intimidation to shut up his opponents. Obama said,
"I need you to go out and talk to your friends and talk to your neighbors," Barack Obama told a crowd in Elko, Nev. "I want you to talk to them whether they are independent or whether they are Republican. I want you to argue with them and get in their face."
Look for a big push for a return to the Fairness Doctrine if he is elected. If his coattails bring along a lot of Democrat Senators and Congressmen, watch out. We could be heading for Canada-like laws against "hate speech" -- that is, politically incorrect speech, or speech that is inegalitarian. Statists the people have the right to say what they want -- as long as they say what the state approves.
Obama's disdain for the right to free speech is troubling because we desperately need to spread a rational philosophy in order to change the culture. It is freedom's last hope.
4. In his latest TIA Daily Robert Tracinski reminds us of a stunning speech by Al Gore in September in which he called for mob violence, though he did not use those words, of course.
"If you're a young person looking at the future of this planet and looking at what is being done right now, and not done, I believe we have reached the stage where it is time for civil disobedience to prevent the construction of new coal plants that do not have carbon capture and sequestration," Gore told the Clinton Global Initiative gathering to loud applause.
Tracinski observes that civil disobedience is supposed to be aimed at government. Against private industries, it is mob violence. He also observes that there are no commercial-level businesses that use "capture and sequestration" because costs would increase by 50%. In other words, Gore is calling for mob action against just about every business with a smoke stack.
Here are two of the most prominent Democrats, the present presidential nominee and a former one, urging people to use force. These calls are the beginning of what will develop into a brown shirt force on the left. Already people know not to put Republican stickers on a car in certain neighborhoods, such as college towns. This climate of fear is what the left wants throughout America, and the nascent brown shirt force implicit in Obama's and Gore's calls for intimidation and mob violence will be the agents of force. People will learn to think twice before they speak out against the left. The left wants people living in fear.
We are heading into the most dangerous and challenging period in American history. Yes, Americans have faced huge challenges before -- wars, depressions and riots, among others -- but never before has America been so philosophically and culturally rotten; never before has state power been so advanced. We are likely to lose a lot of freedom in the time of evil we are entering. How we respond to the next 10-20 years should tell us if the rest of the 21st century will further the decline.
UPDATE: The Dougout has a clip of Obama calling for the creation of a "civilian national security force." This force would serve as an American KGB.