Combating the EMP Threat, Part Two by Brigitte Gabriel The advance of the Taliban in Pakistan means at least some of that country’s nuclear weapons could fall into the hands of Islamist extremists at some point. It may not happen — but what if it does? The clear message from Iran’s leaders is that it is not going to stop its plutonium enrichment program, and various intelligence sources now project it will successfully develop nuclear weapons within two years. What’s more, Iran is working with North Korea to both advance Iran’s nuclear weapons program and develop the missile launching technology necessary to deliver and deploy such weapons for maximum effect. If Iran is not stopped, not only will it have nuclear weapons, it’s virtually certain its leaders will share its technology with selected terrorist organizations. These are the chilling realities of 21st century nuclear proliferation. As Guy Rodgers and I have been telling you over the past week, what really makes this nuclear proliferation a terrifying threat is the potential our enemies have to use nuclear weapons to trigger an electromagnetic pulse (EMP) attack. An EMP attack gives a country like Iran greatly increased destructive power far out of proportion to the number of nuclear weapons it has. The good news is we aren’t helpless in the face of this very real and frightening threat. We can take action to protect ourselves. There are solutions that will work. This is why we’re making such a determined effort to educate you about an EMP attack, as well as what each of us can do to help make sure it never, ever happens! Please read the rest of this email carefully and forward it to everyone you know. One nuclear weapon or “dirty bomb” detonated in a major U.S. city would kill hundreds of thousands of people, perhaps more. But, as the Commission to Assess the Threat to the United States from Electromagnetic Pulse (EMP) Attack (http://empcommission.org) has noted, just one nuclear warhead, optimally deployed above our atmosphere, could likely trigger an EMP attack that would knock out as much as 70% of our country’s electrical power grid. And not just for a few days, but for months or longer. Imagine the aftermath of Hurricane Katrina spread nationwide, with no one available to come with help. As I said yesterday, any terrorist attack is horrific. An EMP attack would be apocalyptic. Millions and millions of people would die. This is not my conclusion, but the conclusion of the experts who have studied this. We can successfully defend ourselves against this threat, and not at a cost of trillions of dollars, or even hundreds of billions of dollars. For instance, according to experts in the field, some of whom we have talked to, we could achieve a high level of protection of the key parts of our power grid for as little as $20 billion. Given the size of our federal budget and the money being spent on “stimulus” packages and “bailouts,” $20 billion – to help ensure the survival of our way of life – is peanuts! But what we currently lack, which is needed to get anything significant done in Washington, is (1) sufficient national awareness of the threat, and (2) the political will to take the necessary steps to address it. To combat this lack of awareness and political will, ACT! for America is launching a long-term strategic plan that will consist of a combination of public relations, grassroots action, and lobbying efforts. It’s clear to us that simply supporting one bill in Congress is not enough. This will not be a quick fix. Here then, are the initial pieces of our plan to combat the EMP threat.
This is where I need your help. If you agree with me that preventing radical Islamists from deploying an EMP threat against us is an action we must take, and take now — then I’m asking you to do the following.
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Depending on the level of gift you choose, you could receive an autographed copy of my best-selling book They Must Be Stopped, or a copy of the chilling documentary film “Homegrown Jihad: The Terrorist Camps Around U.S.,” or a DVD copy of my message “The Threat of Militant Islam.” There are other gifts as well. As you see, when you help us, we help you. We help you become better informed and more able to inform and educate your friends and family. I’m sure there are people you know that you wish could understand what you understand. These resources will help you reach them. I’ve heard people say that an EMP attack might never happen. They may be right. But what if they’re wrong and we haven’t prepared? There are too many experts, who have studied this and concluded it’s a very real threat, for us to ignore. What’s more, the evidence suggests Iran and North Korea understand the potential of an EMP attack and are working on the technology to launch it. So please ACT today! Sign up to become a Patriot Partner or make a one-time contribution, and we’ll get your gifts out to you within two to three weeks. The first step in ultimately preventing an EMP attack is for each of us to take action today. Thank you for everything you do on behalf of the America we love. I am grateful beyond words. Always devoted, Brigitte Gabriel ACT for America P.O. Box 12765 Pensacola, FL 32591 www.actforamerica.org ACT for America is an issues advocacy organization dedicated to effectively organizing and mobilizing the most powerful grassroots citizen action network in America, a grassroots network committed to informed and coordinated civic action that will lead to public policies that promote America’s national security and the defense of American democratic values against the assault of radical Islam. We are only as strong as our supporters, and your volunteer and financial support is essential to our success. Thank you for helping us make America safer and more secure. HOW CAN I TELL OTHERS ABOUT YOUR ORGANIZATION? Send a personalized version of this message to your friends. HOW CAN I SUPPORT YOUR ORGANIZATION? Click here to give an online donation. |
Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.
"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."
In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.
"President Roosevelt believed that excessive competition was responsible for the Depression by reducing prices and wages, and by extension reducing employment and demand for goods and services," said Cole, also a UCLA professor of economics. "So he came up with a recovery package that would be unimaginable today, allowing businesses in every industry to collude without the threat of antitrust prosecution and workers to demand salaries about 25 percent above where they ought to have been, given market forces. The economy was poised for a beautiful recovery, but that recovery was stalled by these misguided policies."
Using data collected in 1929 by the Conference Board and the Bureau of Labor Statistics, Cole and Ohanian were able to establish average wages and prices across a range of industries just prior to the Depression. By adjusting for annual increases in productivity, they were able to use the 1929 benchmark to figure out what prices and wages would have been during every year of the Depression had Roosevelt's policies not gone into effect. They then compared those figures with actual prices and wages as reflected in the Conference Board data.
In the three years following the implementation of Roosevelt's policies, wages in 11 key industries averaged 25 percent higher than they otherwise would have done, the economists calculate. But unemployment was also 25 percent higher than it should have been, given gains in productivity.
Meanwhile, prices across 19 industries averaged 23 percent above where they should have been, given the state of the economy. With goods and services that much harder for consumers to afford, demand stalled and the gross national product floundered at 27 percent below where it otherwise might have been.
"High wages and high prices in an economic slump run contrary to everything we know about market forces in economic downturns," Ohanian said. "As we've seen in the past several years, salaries and prices fall when unemployment is high. By artificially inflating both, the New Deal policies short-circuited the market's self-correcting forces."
The policies were contained in the National Industrial Recovery Act (NIRA), which exempted industries from antitrust prosecution if they agreed to enter into collective bargaining agreements that significantly raised wages. Because protection from antitrust prosecution all but ensured higher prices for goods and services, a wide range of industries took the bait, Cole and Ohanian found. By 1934 more than 500 industries, which accounted for nearly 80 percent of private, non-agricultural employment, had entered into the collective bargaining agreements called for under NIRA.
Cole and Ohanian calculate that NIRA and its aftermath account for 60 percent of the weak recovery. Without the policies, they contend that the Depression would have ended in 1936 instead of the year when they believe the slump actually ended: 1943.
Roosevelt's role in lifting the nation out of the Great Depression has been so revered that Time magazine readers cited it in 1999 when naming him the 20th century's second-most influential figure.
"This is exciting and valuable research," said Robert E. Lucas Jr., the 1995 Nobel Laureate in economics, and the John Dewey Distinguished Service Professor of Economics at the University of Chicago. "The prevention and cure of depressions is a central mission of macroeconomics, and if we can't understand what happened in the 1930s, how can we be sure it won't happen again?"
NIRA's role in prolonging the Depression has not been more closely scrutinized because the Supreme Court declared the act unconstitutional within two years of its passage.
"Historians have assumed that the policies didn't have an impact because they were too short-lived, but the proof is in the pudding," Ohanian said. "We show that they really did artificially inflate wages and prices."
Even after being deemed unconstitutional, Roosevelt's anti-competition policies persisted — albeit under a different guise, the scholars found. Ohanian and Cole painstakingly documented the extent to which the Roosevelt administration looked the other way as industries once protected by NIRA continued to engage in price-fixing practices for four more years.
The number of antitrust cases brought by the Department of Justice fell from an average of 12.5 cases per year during the 1920s to an average of 6.5 cases per year from 1935 to 1938, the scholars found. Collusion had become so widespread that one Department of Interior official complained of receiving identical bids from a protected industry (steel) on 257 different occasions between mid-1935 and mid-1936. The bids were not only identical but also 50 percent higher than foreign steel prices. Without competition, wholesale prices remained inflated, averaging 14 percent higher than they would have been without the troublesome practices, the UCLA economists calculate.
NIRA's labor provisions, meanwhile, were strengthened in the National Relations Act, signed into law in 1935. As union membership doubled, so did labor's bargaining power, rising from 14 million strike days in 1936 to about 28 million in 1937. By 1939 wages in protected industries remained 24 percent to 33 percent above where they should have been, based on 1929 figures, Cole and Ohanian calculate. Unemployment persisted. By 1939 the U.S. unemployment rate was 17.2 percent, down somewhat from its 1933 peak of 24.9 percent but still remarkably high. By comparison, in May 2003, the unemployment rate of 6.1 percent was the highest in nine years.
Recovery came only after the Department of Justice dramatically stepped enforcement of antitrust cases nearly four-fold and organized labor suffered a string of setbacks, the economists found.
"The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes," Cole said. "Ironically, our work shows that the recovery would have been very rapid had the government not intervened."
-UCLA-
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx?RelNum=5409
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