November 14-15 — Defending Freedom is our Culture
This week, Sara Mohsin joins me on the program and offers some compelling insights concerning recent economic headlines. Sara is a great entrepreneur, co-founder of Mohsin Mortgage Company, and a great friend who believes in the message of the Glen Meakem Program. The good news is that foreclosure filings fell for the third straight month in October. This consecutive three month decline is unprecedented. However, the bad news is that the total number of foreclosures (77,000 in October) is still 19% above what it was one year ago, and high-risk mortgages and high unemployment threaten to reverse the recent downward trend.
In her line of work, Sara meets many families who continue to struggle financially. Total credit card debt remains close to $900 billion in America (the record total debt was $975 billion in September 2008), and 40% of Americans spend more money than they bring home every month. This lack of financial responsibility and common sense is something that we must change in America through better financial education, proper incentives, and economic growth (Sara among others tries to assist and counsel people).
Fortunately, the majority of Americans are responsible regarding how they manage their money and the right kind of debt can be indispensable to a family or business. The fact is that many people could be benefitting from the historically low interest rates we are experiencing right now by refinancing their mortgages or credit card debt. It is unlikely that interest rates will ever drop below their current levels. If you want to seize this current opportunity, give Sara and her team a call at 800-662-9550.
Entrepreneurs like Sara are the backbone of our society. They see opportunities and develop ideas that help people. Sara is one of millions of entrepreneurs who have created smaller businesses and their risk taking, work and leadership are critical to the growth and evolution of our economy.
There have also been and continue to be many entrepreneurs who have been critical to the development of our economy and society by starting and building what ended up being huge companies. In the late 19th Century, George Westinghouse saved tens of thousands of lives and made the huge expansion of railways possible by inventing and producing the Westinghouse airbrake. In the early 20th Century, Henry Ford created mass individual mobility, elevated the typical American’s standard of living and created millions of jobs by developing affordable Ford automobiles. In the late 20th Century, Bill Gates founded and built Microsoft, making personal computers available to everyone with his operating system and applications software. In the first decade of the 21st Century, Larry Page and Sergey Brin enabled everyone to find out anything anytime over the Internet with their company, Google. Individual entrepreneurs and risk taking investors developed these ideas and made them happen, not the government! Yes, these men, and many other great American entrepreneurs, became wealthy through their creativity, hard work and leadership, but they deserved this wealth and even more importantly created wealth and jobs for millions of other people through their entrepreneurial efforts. Government never creates this kind of innovation, delivers this kind of energy, or invests money this well. Never! When government enacts too many regulations, taxes too much and restricts personal freedoms, entrepreneurs no longer have the liberty, the incentive, or the security to create and build. The result is that society ceases to progress and begins to crumble. Eventually it just implodes — just look at the history of post-war Britain under socialist rule or the history of Russia under communist rule.
Unfortunately, our current "liberal," "progressive," "socialist" leadership in Washington (whatever you want to call it) is weakening individual liberty and free market capitalism in this country by attempting to institute policies that have been proven time and again to fail — just check out this 1948 cartoon produced by Harding College. But in spite of history, our current leaders arrogantly proclaim that this time their tax, borrow, and spend policies, coupled with new restrictions on businesses and individuals (union card check, Obamacare, and Cap and Trade are just a few examples) will lead to prosperity. This is nonsense! President Obama does not need a "jobs summit" in Washington, DC. He needs to go and get a job in business and learn something about how our economy works!! My good friends Art Laffer and Pat Toomey both like to ask this rhetorical question, "when was the last time that government spent its way out of debt and into prosperity?" The answer is never. Capitalism is sustainable.
Government intervention is not.
I also discuss Attorney General, Eric Holder’s decision to prosecute five terrorists in a civilian courtroom. One of these terrorists-Khalid Sheikh Mohammed-proudly confessed that he was the mastermind behind the September 11 attacks. These people have declared war against the United States and have attacked us militarily. They do not belong in a civilian courtroom. This is just another example of President Obama’s wrong and harmful agenda..
Whether it is appeasement, Cap and Trade, healthcare destruction, card check, or tax increases, President Obama’s agenda will eventually fail. Why? Because the history of the United States is a history of critical battles won in defense of freedom. Many other countries have a history centered on kings, conquerors, or despotic rulers. But when the United States gets into trouble, regular Americans stand up in defense of freedom (For more information, see my column published in this Sunday’s Pittsburgh Tribune Review)..
Remember flight 93. Todd Beamer and the other passengers did not retreat in the face of danger. No, they attacked the terrorists who hijacked the plane and prevented flight 93 from becoming the second plane to strike our nation’s capital. Remember last week’s Fort Hood terrorist attack. Sergeants Kimberly Munley and Mark Todd did not retreat and wait for back up. No, together they confronted and neutralized Major Nidal Malik Hasan before he could kill any more people. Remember the tea party protests and the town hall meetings that took place this past summer. Regular Americans gathered all across the country and demanded that their elected officials vote against ObamaCare. Americans have always stood up and defended freedom. This is our culture. This is our heritage. And this is why I am optimistic about our future..
Have a great week and keep up the fight!
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