Glenn Beck's Common Sense: The Case Against an Out-of-Control Government, Inspired by Thomas Paine
by Glenn Beck
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Book Summary Information
Author: Glenn BeckEdition: Paperback
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2009-06-16
ISBN: 1439168571
Number of pages: 192
Publisher: Threshold Editions
Book Reviews of Glenn Beck's Common Sense: The Case Against an Out-of-Control Government, Inspired by Thomas Paine
Book Review: You can not solve a debt crisis with more debt. You need production!
Summary: 5 Stars
How Came the King:
"How came the king by a power which the people are afraid to trust?" How can the kings power come from a wise people or from God? How will the power of large government, be checked, in age of big government? Yet the power exists through the constitution.
2. What are the moral virtues that government should follow to ensure the safety, freedom, and prosperity of the people that it governs?
3. We offer the means to government by which we suffer.
4. Security is the true design and end of government.
5. Government is short in supply of moral virtue. The rise of government is rendered necessary by the inability of moral virtue to govern.
6. Monarchies are isolated from information yet are given the power to act where higher judgment is required.
7. Which power in the constitution has the most weight?
The Lord shall rule over thee:
A mortal king is not an innovation of God nor of a wise people. God is the best king. When God reigns over his people, his people prosper. The Lord hears the requests of his people. God will rule over the people (Daniel & Ezekiel). God will be our king and we will be his people. We will follow God's laws and be blessed and prospered. God is the source of all good gifts.
Man sins in his desire to have a king and not for God to rule. Kings of men assume rights and powers that super-cede their wisdom and ability resulting in warfare. Kings are often oppressive and a burden to the people. Kings tax because their economies don't produce. Kings steal through warfare from healthy economies. Kings do not protect land rights of the individual. The King is the law.
A king's job is to secure the welfare of his people by acting as both a judge and warrior. A king fights the battles of his people. When God is not a king and the people select a king then the king assumes the power to create laws as he pleases. The power to create laws becomes a power of the King. The power of a king has a tendency towards tyranny because there is no check on his power.
In a republic the king has less business to conduct. A republic follows natural principles. The republics job is to secure freedom and property of all men. A constitution ensures civil and religious rights and provides escape from tyranny. A republic is independent of any external power and a Republic has the power to make its own laws.
China Economic strategy: China is not a friend
1. China will increase purchasing large quantities of US products: Electrical machinery, Heavy equipment, coal equipment, airplane equipment, railway equipment, and refrigeration HVAC equipment.
2. China will increase purchases of certain US products. Large dollar reserves, devaluing currency, and pending hyperinflation have created an unreasonable margin of safety for Chinese foreign reserve assets. China's inflation must slow down while the US export economy heats up. The US is in a economic depression. The transformation starts with Chinese consumption increasing moves balances the system. China will covets American High tech product to strengthen their own economy production infrastructure and expand industrialism.
Inflation destroys fixed income in the future. The Chinese are holding nearly a trillion dollars in dollar denominated assets that need to be converted into tangible asset lowering liquidation risk factors. The United States needs China is adjust its currency to free market values then US manufacturing jobs will return and wealth accumulate.
Chinese banks are highly exposed and facing rising defaults. China inflation and banking system is in a crisis state. Banking bailouts have been a failure and healing financial markets has been demoralizing. China is betting on production gains through increased exports to latin America and Africa to offset their inflation. Wealth is their hope of prosperity. However, China productivity is decreasing and China Currency buying and selling will be a downward spiral. The OTC derivatives trades are ignoring the warning signs of decreased earnings and productive to increase speculative bets and pick pockets. OTC derivatives are a spreading cancer even in China's CDS market.
The Yuan needs appreciate in value. China's government is artificially holding the yuan valuations down giving them an unfair advantage and making big corporations fat.
3. Watch bond yields and not gold prices. The Fed must remove excess reserves by selling off nearly $1 trillion dollars in US Securities. The security sell off will cause enormous yields increases and increase the cost of borrowing money. $14 trillion of debt and $26 billion in interest payments per month or $300 billion per year is not sustainable. By 2019, the interest payments will be $806 billion per year. The money supply must contract to safe limits. The sell off of US securities will be removed money from the financial system and contract the money supply M2. As the dollar strengthens the economy will attract more foreign investment and buying of dollars. Central Banks will keep the dollar as the reserve currency.
Why are we so clueless about the bond market? The bond market works like Gold either accumulating or being sold off and has the affect of heating up the economy or cooling the economy down; during recession the inflation the yields rise and during depression the yields drop.
4. China purchases of tangible assets will reduce Chinese owned federal reserve securities and increase the Chinese government's ability to build infrastructure, such as roads, electrical equipment, railways, and refrigeration. China will begin buying more US business like the Japanese did in the 1970s
5. China is building a Ming dynasty tribute system extending to all countries of the world. China purchases of US exports will help Chinese production base. Additionally, China will slowly allow US investor in private property investments in China. The US ownership of Chinese land will provide an refuge for investment of dollars, as it devalues. China will attract more foreign investment to build up their real estate market. More money will flow to China as the dollar devalues.
6. Chinese banks are running out of money. In 2010, Chinese Banks will fight inflation by lending nearly $1 trillion for business development. Foreign investment . China loaned about $1 trillion in loans in 2009 to Chinese businesses. Chinese Banks have said they lack capital adequacy levels. Chinese banks in 2012 and 2013 may not be able to sustain the current level of loans providing funding for Chinese companies to grow and develop. The combination of Chinese loans and government stimulus spending has pushed China's GDP in double digits. However, contracting loans will impact growth percentages.
7. The Yuan will become stronger over time. If the Yuan becomes to strong then more foreign investment into the Yuan by Central Banks will increase. More central banks will start buying the Yuan and selling the dollar. Buying and selling does not create long-term wealth. Dollar to Yuan is a fallacy. The correct move should be dollar to tangible asset. However, China will start converting debt out of the dollar denominated currencies into the yuan, as the yuan increases in strength. If the dollar does not gain strength during this time period then US imports will decrease. However, stronger exports to China means the strengthening of the dollar and increased US GDP. On the other hand, a strong Yuan will increase the imports of US products into China and help build industrial infrastructure and increase Chinese consumer spending. A strong Yuan should not devastate US economy because China imports raw goods and converts them to finished goods. China will be able to buy more commodities with a strong Yuan. US products will appear cheaper and China will be to transform itself into a strong economic power.
8. China policy of currency price fixing will create scarcity because producers profit margins will start to loss money and the producers will start demanding increases in prices necessary to survive. The Chinese economy needs to convert its dollar denominated currencies to real assets and reduce US debt and allow the US to invest into private property in China. At the same time, China must sell RMB denominated bills to contract its money supply and slow inflation. State owned banks will face higher interest rates. Chinese banks are hoarding cash trying to fight inflation. The Chinese banks are facing future instability in the market. China will be tempted to sell dollars, if the yuan starts to inflate rapidly. If China sells dollars in mass the US dollar will devalue further and the bond yields will climb.
9. China can maintain both a higher level of US imports without reducing its export level. The types of products being produced by both countries don't come into direct competition.
10. China is interested in high technology acquisitions. Will China use the technology for war or for economic growth? China's politicians and businessmen don't necessary share the same objectives. Oil will be an issues more in the middle east. Despite the potential danger. China seems to be capitalizing on opportunity and planning for growth.
11. Higher US bond yields will cause the real estate market for new buyers to decrease and will increase default rates and lower housing prices another 30-40 percent. The fed bought $1.2 trillion in MBS and moved interest near zero. Housing ARM rates reset in 2009, 2010, and 2011. The fed start buying US bonds in 2010 and yields start to rise. The yields rose because of fears of default on debt increased. The QE will be a failure.
Russia and China verses America : Surviving a nuclear war
1. Yeltsin was a puppet figure
2. Russia is a planning an attack on the West
3. The KGB heads were not killed, but followed a self-imposed exile to hide in disguise.
4. All former Soviet Eastern European states are still under Russian influence or direct control.
5. Russia moved short range SS-23 into underground bunkers in East Germany, Czechoslovakia and Bulgaria, prior to the 1986 INF treaty.
6. Russia complains of a famine. President Clinton sends millions of dollars in monetary and food aid. There was no famine. Russian farmers had plenty of crops, but were displaced in the markets by US food aid, that was sold to the people by Russian leaders, for a profit.
7. Russia has been producing high tech conventional military equipment. Russia maintains a top-heavy military officer and NCO corps allowing it to refill the ranks of enlisted soldiers if war was to break out.
8. The US has never been able to see the Russian missile arsenal, with one exception the SS-27 missile launcher. SS-18 have been recycle and modernized.
9. Russia is building one SS-27 missile, Topol-M per month. The SS-27 can carry at least 3 medium weight warheads and up to 10 smaller nuclear warheads. The SS-27 can be armed with an Arzamas warhead with a half million tons of tnt yield.
10. Russia has 12,000 SAM/ABM interceptors at 280 sites. The SA-10 has a nuclear warhead.
11. Russian are building underground nuclear bunkers and weapons production facilities in the Ural Mountains. Yamantau Mountain is the largest nuclear secure project in the world. Yamantau houses 30,000 workers with over a million square feet of space. Yamantau 400 square mile underground complex houses nuclear warhead and missile storage sites, launch control, and several full blown nuclear weapons factories.
12. Russia does not want to destroy Europe if unnecessary.
13. Russia wants the US to disarm as many missiles as possible
14. The US will have to absorb the first strike before retaliation can occur. Launch on warning is not possible.
15. Russia will not strike until her people are sufficiently antagonistic to the West to form a wall of public opinion supportive of a nuclear first strike.
16. Russia want to return to her pre-Cold war glory as a world power.
17. Russia would not dare to attack the West without assurances from China. Russia must attack before China has the power to deter or is a threat to Russia.
18. Russia and China are still engaged in widespread proliferation of nuclear and other weapons technology via their client states like Pakistan and North Korea
19. China has its sights on world hegemony.
20. China is looking toward the West for advanced American technology and funding in order to upgrade its Soviet and home-grown equipment.
21. China lacks a world class navy, air transportation and missile force, and sophisticated communications and control systems.
22. Since 1991 China has purchased at least $8.5 billion in weapons from Moscow
23. There are an estimated 10,000 Russian defense scientists and engineers working for China
24. The sub's Julang-2 or Dongfeng 31 type missiles, armed with 3 to 6 MIRVed warheads, have a range of more than 5,000 miles.
25. North of Poland, Russia has moved new stocks of nuclear weapons to Kalingrad.
26. The Balkans are split between Russian influence in Serbia and Chinese influence in Albania.
27. Russia indirectly controls almost all African governments by establishing a dependency on Soviet-era military hardware. Russia is interest in resources in Southern Africa.
28. Pakistan is aligned with China. India receives its arms from Russia.
29. Nuclear war will not destroy the whole world. 20% fatalities in areas of first strike. Nuclear war is survivable outside of he actual blast zones. Wall Street bankers financing of war made millions in the restructuring. War was used as an instrument of change. War was used to implement institutions of control to avoid the horrors of war. Socialist have a commitment to control. Partial free markets are used to finance the control system.
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Summary of Glenn Beck's Common Sense: The Case Against an Out-of-Control Government, Inspired by Thomas Paine
In any era, great Americans inspire us to reach our full potential. They know with conviction what they believe within themselves. They understand that all actions have consequences. And they find commonsense solutions to the nation?s problems. ?One such American, Thomas Paine, was an ordinary man who changed the course of history by penning Common Sense, the concise 1776 masterpiece in which, through extraordinarily straightforward and indisputable arguments, he encouraged his fellow citizens to take control of America?s future?and, ultimately, her freedom.
Nearly two and a half centuries later, those very freedoms once again hang in the balance. And now, Glenn Beck revisits Paine?s powerful treatise with one purpose: to galvanize Americans to see past government?s easy solutions, two-party monopoly, and illogical methods and take back our great country.
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