Late last year I was contacted by the vice chairman of New Jersey Libertarian Party asking me if I would consider accepting the party’s nomination for governor 2017. A few days later I had a conference call with both the chairman and vice chairman of the NJLP and discussed what a Sabrin for Governor campaign would look like in 2017.
One of the goals would be to raise sufficient funds, just like we did in 1997, to receive matching funds and be included in the official debates sponsored by the New Jersey Election Commission (ELEC). Another goal would be to surpass the nearly 5% of the vote I received in 1997 to at least 10%. I told the and NJLP leadership I would have to think this over very carefully because of my commitments to writing a book this spring while I am on sabbatical, and then I will be writing another book in the second half of this year, when I go back to teaching in the fall semester.
After thinking this over very carefully I decided I could not devote the time and energy needed to run a vigorous campaign this year even though the issues facing the people of New Jersey will require an outsider to address the state budget, the pension shortfall, property taxes, healthcare, the so-called drug epidemic and a myriad of other issues that cry out for out-of-the-box thinking, which of course we will never get from either a Democrat or Republican gubernatorial nominee.
Nevertheless, if I had decided to run for governor this year below would have been my acceptance speech at the NJLP convention at Rutgers in March.
Thank you my fellow libertarians. I enthusiastically accept the nomination of the New Jersey Libertarian Party for governor of the State of New Jersey.
My sabbatical officially begins on January 17, the first day of the spring semester. Every evening I will post a review of the day’s activities so you can see how my research on financial bubbles is shaping up. I expect to begin writing my findings in about two months. The title of my project is Prices, Interest Rates, and Production: The Quest for Sustainable Prosperity.
Yesterday was the 25th anniversary of Peter Drucker’s WSJ essay, It Profits Us to Strengthen Nonprofits, which was the focus of the social entrepreneurship symposium I moderated last April at Ramapo College. The collection of essays I edited, Nonprofitization, the Welfare State and the Future of Social Entrepreneurship, is being prepared for publication. The essays were written by symposium participants and others who were invited to provide their perspective on philanthropy.
Spent an hour in the gym for the first time in two weeks. Wrote a brief review of Phil Murphy’s gubernatorial agenda. Not market friendly. Will get back to my readings on Monday.
This is the first in a series of articles about New Jersey’s gubernatorial candidates. Today I will do a very brief overview of Phil Murphy’s agenda for New Jersey.
On Phil Murphy’s website his bio page touts his service as US ambassador to Germany and finance chairman of the Democratic National Committee. However, his bio omits that he was a high-ranking executive at Goldman Sachs, which some people consider the epicenter of crony capitalism in America.
In fact, dozens of books have been written out Wall Street has provided scores of individuals who have served in both Democratic and Republican administrations for the past hundred years during which the welfare-warfare sate has been cemented on the American people.
In another words, Wall Street is not the bastion a free enterprise and limited government that some make it out to be. Instead, the cronies on Wall Street have been the beneficiaries of the Federal Reserve’s easy money policies and the federal governments outrageous spending on domestic and International programs.
One of the linchpins of Murphy’s agenda is the creation of a “public bank.” Below is the exact proposal from his website:
A Public Bank to Invest Directly in New Jersey — and for New Jersey
New Jersey currently deposits billions of dollars in state revenues in Wall Street and foreign banks — which overwhelmingly do not invest in New Jersey’s communities. Phil will take that money out of Wall Street and put it to work for New Jersey — creating jobs and growing the economy — through an innovative new public bank to make critical investments in our state and its people. By using state deposits to finance local investments, the Public Bank will support billions of dollars of critical investments in infrastructure, small businesses, and student loans — saving our residents money and returning all profits to the taxpayers.
Murphy’s proposal is eerily similar to plank number five in The Communist Manifesto by Karl Marx: “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.”
Although Murphy is not proposing a national bank, a public bank is no different than what Karl Marx wanted, namely, a centralized financial institution controlled by the public, which for all intents and purposes today means career politicians.
Murphy reveals his naïveté and obtuseness in this proposal. Creating a state bank in New Jersey –or in any other state for that matter–is like putting dozens of nymphomaniacs on a submarine and telling them to behave themselves.
For the past 20 years politicians in Trenton have wasted billions of dollars on auto emissions tests, school construction projects, taken on billions of dollars of debt without voter approval, and put taxpayers in the hole for tens of billions of dollars by not funding the state workers pension plans. Furthermore, the Trenton crowd made one of the greatest land grabs in the history of the state with the Highlands Act and continues to engage in the most massive redistribution of income from suburban taxpayers to urban school districts.
And Murphy has the audacity to call for more of our taxpayer dollars to be controlled by the Trenton spendthrifts. This is unconscionable.
Phil Murphy’s call for a state bank is “democratic socialism” on steroids. In fact, a case could be made that Phil should change his name to Marxist Murphy, which would accurately reflect his collectivist ideology.
Reviewed several articles by supply siders and monetarists about the bubbles. Started reading William Fleckenstein’s book Greenspan’s Bubbles. Insightful book about the Maestro’s policies during the 1990s and the 2000s.
Trump to take the US deeper into the Middle East quagmire.
Cut taxes, cut spending and boost economic freedom, which would create more prosperity. Why don’t they understand this in DC? Are they that thick?
“The tax plan that promises the biggest cuts in corporate taxes without straining the budget looks increasingly unlikely to become law.”
Is Trump going to make Obama look like a fiscal conservative?
Source: Is Trump Honeymoon Over Yet?
“Is the NSA the real president of the United States? by Jon Rappoport February 16, 2017 The US intelligence community continues its war to kick Donald Trump to the curb and destroy his presidency. O…”
“The former New York senator has been flirting with a mayoral bid in New York City.”
“Economist Joseph Schumpeter got it wrong.”
Read some of the speeches by former NY Fed President Timothy Geithner and current NY Fed President William Dudley. Geithner appeared to have some insight about bubbles forming in the early 2000s.
Reviewed the social entreprenuship ebook material before the front cover is finalized and the final edit is complete. Should be posted on the Ramapo website soon.
“Having confronted these Decepticons within the GOPe wing of the UniParty for a decade, ultimately their actions become predictable. It is the same cloistered crew, in the same Corinthian Chairs, ar…