Penny Press , USA Volume 7 Number 46 AUGUST 5, 2010 THE PENNY PRESS,AUGUST 5, 2010 PAGE 2

www.pennypresslv.com The Penny Press is published weekly by Penny Credits: Ely Radio LLC All Contents © Penny Press 2010 Publisher and Editor: Contributing Editors: Letters to the Editor are encouraged. They should be Press Fred Weinberg Floyd Brown Al Thomas sent to our offices at 335 W. 4th Street Winnemucca, NV Logotype Circulation: Doug French Bill Here 891445 They can also be emailed to: pennypresslv@ Pointedlymad Charlotte Weinberg John Getter Pat Choate gmail.com No unsigned or unverifiable letters will be licensed from: printed. Rich Gast Wyatt Cox 702-740-5588 Fax: 702-920-8215 Penny Press WINNEMUCCA, NEVADA 16 PAGES VOLUME 7 NUMBER 46 AUGUST 5, 2010 Attacks On Tea Party Political BS

By BILL WILSON it is occurring in a highly charged statement, the tea parties represent run ballot initiatives supported by Special To The Penny Press media climate where the NAACP “dangerous extremism that threat- left-wing activist-financier George has accused the movement of being ens to tear the country apart.” Of Soros. The attacks on the tea party racist. course, the group is actually nothing This mirrors a prior effort in movement and other citizen activists The DNC is attempting to ride more than a Democrat-labor union Nevada by Scott Ashjian to run for are continuing. This time, the DNC the wave of coverage that resulted front group that operates out of the Senate against Harry Reid under has unveiled its latest effort to por- from the NAACP’s charge to dis- offices of Joseph Sandler, a longtime the banner, “Tea Party of Nevada.” tray tea parties, and Republicans, as credit the movement once and for general counsel to the Democratic Again, the apparent intent was to all. It has all of the appearances of National Committee, as reported by siphon votes away from Republican a coordinated attack, but there is an FNC’s Joseph Abrams. candidates who might benefit from even wider context than has been But that’s not all. Michigan the popular tea party movement. Commentary widely reported by the mainstream Capitol Confidential is reporting that Then there’s the case of Jason media that shows a clear pattern to the political director of the Oakland Levin, who ran an effort to actively sabotage, infiltrate, and to other- Democrat Party was behind infiltrate tea party rallies on April radicals and extremists. wise destroy the movement, which an effort to register candidates to 15th, and who was dedicated to This effort, www.republican- has been chronicled by conservative run under a fake “Tea Party” in “dismantling and demolishing” the teapartycontract.com, is nothing blogger Michelle Malkin. Michigan, ostensibly to take away movement and to portray them as more than a series of misrepresenta- For example, there’s the quite votes from Republican candidates “racists, morons, and homophobes.” tions of popular ideas like repealing obvious effort by http://theteapar- and to confuse voters. It turns out A similar effort was waged by an ObamaCare and the financial take- tyisover.org whose express mission that the petition drive necessary to anarchist group to “[o]rganize coun- over, eliminating whole departments is to portray tea parties as extrem- create the party on the ballot was ter-protests against the tea party and agencies in the federal govern- ists intent on inciting violence. operated by Progressive Campaigns, demonstrations, same time, same ment, keeping taxes low, etc. but According to the group’s mission Inc. out of California, which has place.” Continued on page4 The Conservative Weekly Voice Of Las Vegas FLOYD BROWN PAGE 5 Penny Wisdom FRED WEINBERG PAGE 6 Inside: DOUG FRENCH PAGE 7 The modern definition of 'rac- AL THOMAS PAGE 10 ist' is someone who is winning Reid Either An an argument with a liberal. WYATT COX PAGE 11 —Peter Brimelow MARK WALLACE PAGE 12 Idiot Or Waterboy PATRICK R. GIBBONS PAGE 14 See Editorial Page 6 PET OF THE WEEK PAGE 15 THE PENNY PRESS,AUGUST 5, 2010 PAGE 4 What's Racist About Tea? Continued from page 3 Other sabotage and intimidation efforts include the violent assault of Shirts” and compared them to domestic terrorists, “Some of the rhetoric that activist Kenneth Gladney by SEIU thugs out of a St. Louis town hall meet- we’re hearing is… eerily reminiscent of the kind of things that drove Tim ing, where activists spoke out against ObamaCare. Also, at least one pro- McVeigh to bomb the federal building in Oklahoma.” Reid union member attempted to misdirect tea partiers from a large rally See a pattern here? It has all of the appearances of a coordinated smear that was being held in Searchlight, NV. campaign against tea parties and other citizen activists, which even the lead- All of this, however, is overshadowed by what Democrat congressional ership of Congress has participated in. But where is the major media cover- leadership has said publicly about the tea parties from almost the very begin- age of this? It’s so obviously a political theater that to report the NAACP’s ning. House Majority Whip James Clyburn’s has claimed that tea parties are smear without taking into account the above facts is dishonest. It becomes a “kind of terrorism.” Others have alleged that activists shouted racial epi- complicity in the myth’s perpetuation. thets at members of Congress on March 20th at a protest against the health The fact is, if there were this many pieces showing Republican Party care bill, as reported by the American Thinker. Others have attested that acts efforts to sabotage, infiltrate, and discredit an entire political movement and of vandalism were linked to the tea parties. falsely portray it as extremist, you can bet it would be portrayed as a grand Majority Whip Clyburn’s attack followed House Speaker Nancy Pelosi conspiracy. and Majority Leader Steny Hoyer wrote an oped in USA Today calling It’s time to start putting these pieces together. Hundreds of thousands opponents “un-American”. Congressman Steve Kagen called opponents well-meaning, activist are being besmirched and smeared as “uncivilized,” and Congressman Baron Hill called them “political terror- part of a contrived political strategy by Democrats to keep Congress. These ists.” Senate Majority Leader Harry Reid proudly called them “evil mon- citizens want nothing more than less government control over the lives of gers.” individual Americans, and for that, they are pariahs and must be destroyed. Congressman Brian Baird called opponents of ObamaCare “Brown Bill Wilson is the President of Americans of Limited Government. We Get Letters...

Editor: Harry Reid says that Sharron Angle resides in some “alternate uni- verse”. How ironic. This is the same Harry Reid who believes there are no illegal immigrants working in Nevada. The same Harry Reid who won’t enforce Federal immigration laws against illegals. The same Harry Reid who gave a standing ovation to President Calderon of Mexico after President Calderon publicly chastised the over the Arizona’s immigration law – a law less stringent than Mexico’s. The same Harry Reid whose recent gargantuan financial reform bill leaves untouched the principal perps in our economic meltdown – Fannie Mae and Freddy Mac – whose lending policies caused Nevada’s record setting foreclosure rate. The same Harry Reid who believes carrying water for President Obama and Nancy Pelosi on health care is more important than listening to his Nevada constituents. Should I go on? The alternate universe, Harry, is Congress. And you have dwelt there far, far too long.

Robert R. Kessler Las Vegas, NV

Letters can be addressed to [email protected] or to 335 W. 4th Street, Winnemucca, NV 89445 www.pennypressnv.com THE PENNY PRESS,AUGUST 5, 2010 PAGE 5 Commentary: Floyd Brown the increase in deaths is directly the In Afghanistan, our leaders are com- tacted the White House about the Obama result of Obama’s personal misman- plicit in the death of each soldier, leaks before they were released and agement of the war. The blood of our Marine or Navy corpsman who falls asked them to review them. Mismanagement servicemen is on his hands. because politically correct rules of The White House’s response? Why? Upon taking management engagement shield our enemies.” Nada. Of Afghan of defense policy, the Obama admin- Obama dithered in adopting a They were too busy golfing, istration intervened to change the new policy in Afghanistan deep into partying with Paul McCartney and War Leads To rules of engagement. Ralph Peters 2009. This led to criticism from spending the summer vacationing. explained it this way in the New even a left-wing dove like Sen. John In subsequent e-mail conver- Needless Deaths York Post: “Unless our troops in Kerry, Democrat of Massachusetts. sations, Assange’s people clarified combat are absolutely certain that Of Obama’s indecision, Kerry that they sought an administration With the deaths of three addition- no civilians are present, they’re said in a Senate Foreign Relations response through The New York al U.S. troops on July 29, this month denied artillery or air support. If Committee hearing, “At the very Times, and even The New York is officially the bloodiest of the nine- any civilians appear where we meet moment when our troops and our Times was ignored. year conflict in Afghanistan. The the Taliban, our troops are to ‘break allies’ troops are sacrificing more This is the part of the puzzle death toll for July is up to 63 and it contact’ -- to retreat.” and more, our path and our progress which could explain why Obama captures the record as the deadliest Peters concludes, “When our seem to be growing less and less and his supporters have been trying month for Americans so far. own moral fecklessness murders clear.” to downplay this leak as unimport- We all need to understand that those in uniform, it’s unforgivable. Next came the wrongheaded ant. announcement of our deadline for If someone in the Obama admin- withdrawal. Obama basically told istration had advance knowledge of our enemies the date of our leaving; this devastating leak and they did now they are emboldened by fore- nothing to help limit the potentially knowledge of our defeat. fatal consequences to our soldiers And who can forget the Stanley and many valiant Afghani infor- McChrystal firing and all the inter- mants, Obama has every reason to ruption to the chain of command and downplay the leak. subsequent uncertainty over policy? Someone in this administra- Now we face the Wikileaks scan- tion has blood on their hands, and dal, and even this cannot focus the Congress must demand a full disclo- foreign policy team lead by Obama. sure of who knew what and when. Obama is downplaying the impor- It is imperative that this scandal is tance of this leak of thousands of investigated and not covered up. The Penny Press Tips Its Cap To: classified secret documents. Ironically, on the same day these But he won’t be able to laugh off last three heroic servicemen were The Las Vegas Metropolitan Police Department (which badly needs some the latest allegations. We have now dying, millions of American women good news) for the arrest of a man who evaded police for 27 years has been learned that with quick action he were busy watching Obama on “The arrested in the shooting death of a Las Vegas man. Authorities in Hialeah, and his White House staff may have View.” No time to manage the war, Fla., took Jorge Lima-Jorge, 59, into custody July 20 after an extensive investigation by Las Vegas cold case detectives. The arrest marks the oldest been able to limit the damage, but only time for golf, parties, vacations solved cold case in department history. they were too incompetent to act. and PR. A video interview by Judge As Americans, we are appalled. Clark County for at least being honest and releasing a report that says Cost- Andrew Napolitano on Fox Business Please stay home and do your job, of-living raises for most local government workers outpaced inflation in the News blows this scandal wide open. Mr. Obama. Your gross incompe- past decade, some by a wide margin. Most lucrative jobs: water district and When asked by Judge Napolitano tence is leading to needless blood- fire fighter. why he should not be held respon- shed. The Penny Press Sends A Bronx Cheer sible for potential deaths caused by FLOYD And A Bouquet of Weeds To: the leak, Julian Assange, the founder and of Wikileaks, answered that he con- MARY BETH BROWN Clark County Public Defender Philip Kohn who, after losing a death penalty case for a guy who was convicted of first-degree murder and two counts of sexual assault in the death of Beth Lynn Jardine, a 23-year-old woman he raped and beat to death with a claw hammer in 1985 said that the death penalty was a waste of tax dollars because the guy would have plead guilty for a life sentence. Give us www.pennypressnv.com a break. THE PENNY PRESS,AUGUST 5, 2010 PAGE 6 OPINION From The Publisher... Reid Either An Idiot Or A Waterboy The results are in and it appears that, at best, Harry Reid That’s what a United State Senator is supposed to do, is an idiot and, at worst, he’s doing the bidding of his mas- right? ters. Actually, people have gone to prison for less. (Maxine Waters If you’ll remember, some months back, Harry went to work is facing an ethics investigation for asking regulators to help twisting the arms of bankers who were on the edge of forcing a bank her husband had a relationship with.) MGM/Mirage (now MGM Resorts) into bankruptcy because it had run out of money in the construction of City Center. But when Harry’s opponent, Sharron Angle, pointed out that this is not what Senators do, Harry put up a television City Center is the kind of idea you get when you’ve had too commercial saying that she wouldn’t save jobs. much to drink and you have too much money available. Harry’s a moron. “I have an idea,” says a nameless (and probably intoxicated) MGM Executive. “Let’s take the land we own where the He actually thinks that we don’t know he’s in the pockets of Boardwalk is and make it like, uh, Manhattan. Yeah, that’s people who probably don’t deserve to stay in business. In the ticket. Let’s Manhattanize the strip!. We’ll sell a lot of fact, were there a forced change in the ownership and man- condos to pay for it and it’ll be just like, oh, Park Avenue. agement of MGM, it might actually benefit Las Vegas. That’s it.” His actions in the case of MGM had nothing to do with I don’t know how drunk that MGM Executive was, but it jobs. turned into the largest construction project in Nevada. So big, that MGM had to partner with an Arab Sheik, the ruler It was all about taking care of his major campaign donors. of Dubai, who was building his own dream with slave labor, because they needed another five or so billion (with a b) The biggest employer in Nevada is NOT MGM. dollars. It is small business. So, last year, with the partners fighting amongst them- selves, the shutdown of the project just days away and with Small business employs 93 per cent of Nevada and Harry it a Chapter 11 filing of MGM, Harry goes to work. has given nothing but the back of his hand to small busi- ness. By his own admission, he “called every banker” he knew and strong-armed them to keep lending. He’s gone out of his way, in fact, to make it more costly to be in business and create jobs. So the project got finished. And it’s a little bit like the war in Afghanistan. It depends on your definition of success. That’s because Harry, and his patron saint, Barack Hussein Obama, do have something in common. Here’s an indicator. The results are in for the second quarter of 2010 and MGM lost $883-million, much of which can be Neither one of them has ever held a job, much less run a attributed to City Center. business.

Turns out those “jobs” Harry brags about saving are mostly That’s why they think that it’s OK to strong-arm bankers to non existent. The construction jobs went away and MGM lend more money to company which lost almost a BILLION sharply downsized not only its City Center work force but dollars in one quarter of one year. the workforce at its other properties as well. What the hell, it’s not their money But Harry strong-armed those bankers. FRED WEINBERG THE PENNY PRESS,AUGUST 5, 2010 PAGE 7 Commentary: Doug French ing, trade equity for debt, and reduce research and development costs all to juice up Turning Bread Into Stones short-term operating profits and their bonuses, while denigrating their company’s long-term financial health. Worrying that their friends on are liable to blow themselves up The authors rightly take issue with corporate-finance textbooks that claim that any day with complex financial products and strategies, Congress has passed and stock options align the interests of managers and shareholders, noting that “stock Obama has signed 2,300-plus pages of financial reform that provides “an architec- options often magnify the incentives of executives to take risks that boost short- ture reflective of the 21st century in which we live, but also one that would rebuild term earnings at the expense of long-term corporate health.” that trust and confidence,” claims Senator Christopher Dodd who was the lead Finance was once just a small portion of the US economy, but by 2007 it had sausage grinder on the senate version of the bill. mushroomed into being over a quarter of the S&P 500, after being only 5 percent Ostensibly, the purpose of this bill isn’t to make Wall Street bigger and to con- of the index back in 1980 — and this doesn’t count the financial affiliates of com- solidate the banking industry; it’s to “protect consumers and lay the foundation for panies like GE. As the authors point out, finance is the largest sector of the US a stronger and safer financial system, one that is innovative, creative, competitive, economy, so college graduates believe the road to riches lies with pushing paper, and far less prone to panic and collapse,” President Obama said after Dodd had creating complex financial securities, and jockeying risk-management models. gathered enough signatures. Financial leverage has been heightened at all levels, blessed by the likes of Well right, in a perfect world where you wanted to inspire innovation, creativ- Modigliani and Miller whose theorem implies leverage is irrelevant. With all insti- ity, competitiveness, and have a financial system that’s panic free, you’d immedi- tutions adopting the same risk management strategies, along with borrowing their ately start with 2,300 pages of gobbledygook that has been crafted on the fly by way to gargantuan size and the major banks all being interconnected, the potential Washington lawyers and staffers while great financial minds like Dodd, Barney for panics is heightened and panicked governments believe no one can be allowed Frank, Nancy Pelosi, and Harry Reid calmly think through the details and reper- to fail. cussions. Modern Financial Theory says you can diversify your way to safety because all Of course the constant carping has been that there just hasn’t been enough information is known, so no one can out perform the market by picking individual regulation: that crazy laissez-faire Bush administration dismantled all the financial investments. This meant that new financial products needed to be created to be part regulation don’t you know. The real fact is, even the average Podunk bank operat- of the diversified portfolio basket. As the quants took over, short-term paper that ing as a holding company not only has a state regulator, but the , masqueraded as long-term in the form of auction-rate bonds was created along with the FDIC, or the OTS, or the OCC regulating them. Not to mention all the business Collateralized Debt Obligations (CDOs), CDO squareds, and exotic derivatives licensing and whatnot that’s required on the local level. based on these products like Credit Default Swaps (CDS). Treasury Secretary Tim Geithner testified that AIG had “regulators in 20 dif- These products served to grow Wall Street exponentially. All stocks in the S&P ferent states being responsible for the primary regulation and supervision of AIG’s in 1957 had a market value of $220 billion. By the end of 2008, that index had U.S. insurance subsidiaries. Despite AIG’s foreign insurance activities being regu- a value of $9 trillion, according to the authors, but the real action was in deriva- lated by more than 130 foreign governments, and despite AIG’s holding company tives, which totaled $518 trillion that year, “or about ten times the Gross Global being subject to supervision by the Office of Thrift Supervision (OTS), no one was Product.” adequately aware of what was really going on at AIG.” With government cheerleading for homeownership, Wall Street got in the There’s been plenty of government regulating, and as regulations grow, the game with “rating agency mathematicians ... ‘proving’ that default rates would be incidences of financial booms and panics grow in step, as Kevin Dowd and Martin low,” no matter the poor quality underwriting, done not by Jimmy Stewart à la It’s Hutchinson chronicle in their wonderful new book Alchemists of Loss: How a Wonderful Life, but by an aggressive mortgage salesman on commission. CDS Modern Finance and Government Intervention Crashed the Financial System. owners jumped on this opportunity to profit by the new financial nonsense and Looking back at financial crises, the authors note “the impacts of rampant specula- the CDS market grew to $62 trillion at its peak, while the entire market for home tion, government involvement or poor government responses, misguided monetary mortgages was only $12 trillion. Sold as an insurance to hedge against credit risk, polices, ill-designed regulation and misunderstood new financial technology, as the CDS market morphed into speculation. well as the oft-repeated failure on the part of policy makers and legislators to draw Dowd and Hutchinson write that it is government meddling that creates the the appropriate lessons from painful experiences” have been constant themes. environment for financial crisis. Deposit insurance and other consumer protection Dowd and Hutchinson put the latest crisis in the context of history. They point schemes like Securities and Exchange Commission regulation make the average out that government intervention and misguided regulations were culprits in all Joe and Jane believe that the government will make them whole no matter what financial meltdowns. Austrians may have a few bones to pick with the authors happens. The authors also believe the destigmatization of bankruptcy has caused on a couple minor points, but all in all, the strength of the book is its free-market Americans to overborrow, lowering savings rates along with ethical standards. view of the current crisis that shines a bright light on the rampant belief in dubious Booms and busts, crises and crashes will continue ad infinitum, and the authors notions like Modern Financial Theory that include the efficient-market hypothesis believe eventually this will lead to declines in the real economy as well as the finan- and Modigliani-Miller theorem. cial-services sector. As Austrian theory dictates, malinvestments must be liquidated Combine loose money with flawed financial theories and the creation of byzan- in the bust, and that includes financial-sector jobs, leaving New York with ghost tine financial products, and ultimately modern financial alchemy “has a distinctly buildings in the financial district and empty luxury condo towers. For the city of statist and paternalist tone, and one which, taken to its logical conclusion, implies London, Hutchinson and Dowd see the future as being even worse. the establishment of nothing less than a world government with the power to redis- Mr. Dowd has written plenty about free banking, and he’d like to fix all of this tribute most of our income at will,” explain the authors. not with 2,300 pages of additional regulation, but “with a commodity standard, free The end of the partnership era on Wall Street, which allowed management and banking (no central bank) and financial laissez-faire, restrictions on the use of the ownership to separate and shed personal liability, has lead to excess risk-taking. ‘limited liability’ corporate form, and the most limited government.” The authors Of course, Washington’s new financial regulation does nothing about this. Michael seek a “new Age of Economic Reason,” abandoning “the philosopher’s stone of Douglas’s Wall Street character Gordon Gecko famously made the point that Teldar universal government meddling sought by that sublime Paracelsus of economic Paper management themselves owned but a tiny fraction of company stock and alchemy — John Maynard Keynes.” weren’t acting in its best interest but were earning big salaries for merely sending Unfortunately, the Keynesians in the Obama White House likely aren’t asking memos back and forth to each other. for Messrs. Dowd and Hutchinson’s phone numbers: their program is to stimulate, Managers who are not owners, Dowd and Hutchinson point out, are most regulate, and keep the zero rate. interested in earning higher salaries for themselves at the expense of the long-term Never mind that this hasn’t worked any other time and won’t this time either. success of the company. So managements are as short-term oriented as Wall Street DOUG FRENCH and Washington are. Managements reduce dividends, engage in creative account- THE PENNY PRESS,AUGUST 5, 2010 PAGE 8 THE PENNY PRESS,AUGUST 5, 2010 PAGE 9 The American Family That Lives Here Doesn’t Need to Own Firearms

The residents of the White House are one of the few American families that don’t really need to own ¿UHDUPVIRUWKHLURZQGHIHQVH7KH\KDYHWKHEHVWSHUVRQDOSURWHFWLRQDQDWLRQFDQEX\«6HFUHW 6HUYLFHJXDUGLDQV  6RPHJRYHUQRUVDQGRWKHUKLJKJRYHUQPHQWRI¿FLDOVDUHVLPLODUO\VKLHOGHGDWWD[SD\HUH[SHQVH$QGD IHZIDPLOLHVDUHZHDOWK\HQRXJKWRSD\IRUSHUVRQDOERG\JXDUGV  (YHU\RQHHOVHLVRQWKHLURZQ2IFRXUVHWKHUHDUHGHGLFDWHGODZHQIRUFHPHQWRI¿FHUVEXWWKH\FDQ¶W EHHYHU\ZKHUHDOOWKHWLPHDQGWKH\DUHYDVWO\RXWQXPEHUHGE\WKHFULPLQDOV7KHFRXUWVKDYHUXOHG UHSHDWHGO\WKDWSROLFHFDQ¶WEHOLDEOHIRUDQ\IDLOXUHWRFRPHWRDQ\RQH¶VDLGHYHQZKHQOLYHVDUHDWVWDNH  7KH$PHULFDQSHRSOHNQRZWKDWZKHQWKUHDWHQHGE\WKHXQH[SHFWHGWKH\PXVWSURYLGHIRUWKHLURZQ GHIHQVH7KH6XSUHPH&RXUWKDVUXOHGWKDWWKH6HFRQG$PHQGPHQWWRWKH&RQVWLWXWLRQJXDUDQWHHVWKH ULJKWWRDUPVIRUGRPHVWLFGHIHQVHDQGVWDWHVSURYLGHIRUOHJDOFRQFHDOHGFDUU\RI¿UHDUPV  ,QWKHLUKRPHVDQGEXVLQHVVHVPLOOLRQVRIIDPLOLHVRZQ¿UHDUPVIRUSHUVRQDOGHIHQVHDQGPDQ\RI WKRVHDUHWKHVDPHSRSXODUVHPLDXWRPDWLFULÀHVVKRWJXQVDQGSLVWROVZKLFKVRPHPLVJXLGHGSROLF\ DGYRFDWHVSURSRVHWRRXWODZ  6XFKHIIRUWVZRXOGIXUWKHUWLSWKHVFDOHVRIVDIHW\LQIDYRURIFULPLQDOVDQGWHUURULVWVZKRDOZD\VLJQRUH ODZVDJDLQVWPXUGHUUDSHUREEHU\FDUMDFNLQJDQGEXUJODU\MXVWDVWKH\DOZD\VKDYHLJQRUHGJXQODZV (QIRUFLQJJXQEDQVDJDLQVWJRRGFLWL]HQVZRXOGSODFHDQRWKHUPRUHGLI¿FXOWEXUGHQRQODZHQIRUFHPHQW ZLWKOLWWOHHIIHFWRQWKRVHLQWHQWRQYLROHQFH  ,I\RXWKLQN\RXKDYHWKHULJKWWRGHIHQG\RXUVHOIDQG\RXUIDPLO\XVHWKHFRXSRQDWORZHUOHIWWR UHPLQG3UHVLGHQW2EDPDRIKLVFDPSDLJQSURPLVHQRWWRWDNHDZD\DQ\RQH¶VJXQV  ,I\RXEHOLHYHRWKHUVVKRXOGEHH[SRVHGWRWKLVPHVVDJHRULI\RXZLVKWRJHWPRUHIDFWVDERXW¿UHDUPV SROLF\IURPWKH6HFRQG$PHQGPHQW)RXQGDWLRQXVHWKHFRXSRQDWORZHUULJKW

Dear President Obama: Second Amendment Foundation, During your 2008 campaign you said you believed in the Second 1(7HQWK3ODFH%HOOHYXH:$‡ZZZVDIRUJ Amendment and would not take away anyone’s guns. Please don’t let Congress turn law-abiding citizens into criminals with misguided T Please send me more facts on the semi-automatic firearms gun laws affecting commonly owned firearms. issue. T Please run this ad in other publications so others get facts on NAME______the self-defense issue. T $15 T $25 T $50 T $100 T Other $______ADDRESS______NAME______CITY______STATE_____ZIP______Return to: Second Amendment Foundation ADDRESS______12500 NE Tenth Place CITY______STATE_____ZIP______Bellevue, WA 98005 Your contribution to SAF is tax deductible. THE PENNY PRESS,AUGUST 5, 2010 PAGE 10 Commentary: Albert Thomas Note: This is not my usual financial column as I am away from my office They walk. and will not be back for another 10 days. I am taking my grandson for a One sock? Walk? It takes a pair to walk. trip down the River. We will not have Internet or email. I had Maybe that is what happened. this idea in my head the other night and wrote a little story about my lost My one sock must have some kind Sock Internet and was lured away by socks. Hope you enjoy it. another unhappy from someone else’s laundry. That’s it!! My plain brown went off with a calf high Argyle. I have to get into that Sock Internet and lure my wayward ankle high Where Is My Sock? back to my sock drawer. They surely must miss him (her). They always seemed like such a good Where is my sock? I put 12, 6 matching pair in the washing machine and couple. Folded together. Cuddled for days at a time. Are there no sock mar- threw the dripping mess in the dryer. riage counselors? Now there are only eleven. Where is number twelve? If we could find a few of them maybe we could stop all this sock unhap- I checked the dryer and the washer. piness. No more disappearing socks. No more sock divorce. This happens every so often and that extra one never shows up. They They could live happily ever after until toe holes us do part. That is were a matched pair. when sock life marches to its end. Maybe they didn’t like each other any more and decided to get a divorce. We all reach our journey’s conclusion. Humans, socks. The cycle is She or he took off for parts unknown. complete. Some short, others long. Maybe there is a place they go. Most of them seem to stay. It must be Memories of happy feet will live forever in Sock Heaven. really nice. There are no smelly feet or tight shoes or being thrown in a AL THOMAS laundry basket with all that dirty underwear. For any of Al’s previous articles there are about 100 posted under How do they get there? Newspaper Column on the web site www.mutualfundmagic.comYou may How else? reach Al’s email at [email protected] THE PENNY PRESS,AUGUST 5, 2010 PAGE 11 Commentary: Wyatt Cox a year. Never Happy With We broadcast every city council meeting just to keep the city honest. While some of the city staff is nervous that we do it, some have confided in What You’ve Got—Want less me that they appreciate the interest in keeping government open and easily accessible to the people. ELY—The big flap lately in Ely has been over the shortfall in tax rev- But back to the water. enues and how will the city make do. The rates for sewer and water should have gone up a long, long time ago It seems some people think that raising any rates for city services is with the excess of operating expenses going into a maintenance and rebuild- obscene. ing fund to eventually replace the aging system. I dramatically disagree. In fact, city services are, if anything, under- Much of the Ely sewer and water system is 75 years old or older. Well priced -- and should have been raised long ago. overdue to be replaced. Had past administrations socked money away for a Ely is the only city of any size that I know of that still allows residents rainy day like Landfill supervisor Rick Stork did so that the city could pur- unmetered use of water. he price just went up from $19 to $23 per month, chase landfill and animal control buildings -- prefabricated steel buildings, a move which has sparked OUTRAGE among the great unwashed. (Pun nothing fancy -- for cash instead of financing the operation, they wouldn’t fully intended.) have to go hat in hand looking for funding to rebuild the system, which will I took just a few minutes to start reviewing what residents are charged have to be done, sooner rather than later. in other cities and discovered that just for access to the city water system, Another interesting point is that the USDA requires a minimum water rates run from $25 to $40 per month for residential customers. charge based on the median salary. If Ely were to pursue a USDA grant, Landfill fees in Ely are going from $9 to $14. At the higher rate, that’s their water fee would have to be metered. still the lowest in the state. That’s something that a number of Ely residents have sworn would It seems everyone wants to blame the city government for malfeasance never happen. and misappropriation of funds. But when you’re down 25 percent from the year before -- $65 thousand -- in Consolidated Tax Collections, it’s nearly A closing note. We’re in Las Vegas at this writing to pick up Bubba impossible to catch up without major increases. Brown after a six week visit to his biological father, who is two years less What’s truly amusing is the great unwashed trying to claim that the mature than my nine-year-old. City Council is acting like Bell, California. Mayor Jon Hickman makes Apart from visiting with a few missed friends, I’m glad I’m gone. $7200 and the councilmen make $6000 per year. The problem there is that Maybe I’m just more comfortable in the small town environs that Ely pro- there is no local media keeping the Bell government under the microscope. vides. Only when the LA Times got involved did the locals, 43 thousand mostly Maybe it’s just that with the Mayor of Ely, I don’t have to worry about Hispanics were furious to find out their city manager made nearly 3/4 of a specifying which brand of gin.... million dollars a year, and all but one councilman made over $100 thousand WYATT COX THE PENNY PRESS,AUGUST 5, 2010 PAGE 12 Commentary: Mark Wallace positive developments include the launch of SEC and Justice Department Exposing Iran’s Enablers investigations into unnamed pharmaceutical and energy companies believed to be doing business in Iran. Will the new sanctions imposed by the UN Security Council, the US But case-by-case enforcement doesn’t go far enough. The SEC can do Congress and the European Union stop Iran from its pursuit of nuclear far more to close loopholes that allow companies to conceal their opera- weapons? The odds would be better if our own Securities and Exchange tions. It needs new regulations to make plain that no company can conduct Commission was fully on board. secret business in Iran. Such rules should require SEC registrants and their UN investigators recently reported that Iran’s enriched uranium sup- subsidiaries to come clean and report any and all commercial dealings in ply is now more than 2,100 kilograms -- enough to build two bombs. That Iran and to report any Iranian assets they might hold. This disclosure should Tehran’s nuclear program continues unabated is proof positive that sanctions be required regardless of whether the information meets corporate manage- haven’t been working. ment’s definition of “material.” And a big part of the problem is that, for decades, publicly traded mul- The moment companies come clean about their investments in Iran is tinational companies have been able to conduct business in Iran with impu- the moment that continuing those operations will become untenable. Public nity, shielded from public scrutiny. knowledge that a business operates in a country that poses a serious threat to These firms provide goods and investment dollars to Iran’s elites, global security will trigger widespread outrage and contempt for that com- enabling Tehran to finance its nuclear ambitions and other dangerous activi- pany. Responsible firms will pull out of Iran. ties, including Iran’s extensive support of terrorism. Companies all too often Already, about a dozen companies have ceased doing business in Iran conceal those activities -- not only from the public back home, but also from in recent months. Accounting firm KPMG, for instance, announced the regulators. termination of its relationship with an Iranian partner -- citing “serious and It is time for the SEC to require all companies that avail themselves of escalating concerns” about Tehran’s conduct. KPMG had been providing the US capital markets to fully disclose any and all business they conduct auditing, accounting, tax and other services for businesses operating in Iran. in or with Iran. Shining a light on such dealings is the first step to ensuring Similarly, Shell announced in March that it would cease gasoline sales in that money and resources -- and in some cases US taxpayer dollars -- don’t Iran, after having shipped an estimated 1.65 million barrels of gasoline into go to advance Iran’s nuclear program. the country between April and October of last year. US law now requires that publicly traded companies disclose all “mate- These businesses join many other international giants that have scaled rial” information related to foreign investments in their shareholder reports down or stopped Iranian contracts due to public pressure, including General and in other SEC filings. Firms have enormous latitude to decide for Electric, Caterpillar, Ingersoll Rand, the Huntsman Corp., Siemens, Eni, BP themselves what’s actually “material” -- that is, facts a reasonable investor and Reliance Industries. would consider important when deciding whether to buy or sell a company’s But how many others still do business with Iran? It’s time for the shares. American people to find out. The SEC should make crystal-clear sure that all Iran’s support for international terrorism, pursuit of an illegal nuclear US-listed public companies must publicly acknowledge their work in Iran. weapon, extensive human-rights violations and its immense political and Any firm seeking to continue enabling that rogue nation will sully its economic instability -- and the prospect of further sanctions -- ought to reputation and hurt its pocketbook in America. qualify any and all involvement there as “material.” But many companies MARK D. WALLACE have been less than forthcoming about their business dealings with Iran. The growing appreciation of the Iranian threat has led regulators and Mark D. Wallace, President of United Against Nuclear Iran, served as US public-interest groups to pressure firms to truly comply with disclosure Ambassador to the United Nations, Representative for UN Management and obligations and reveal the nature of their Iran business dealings. Recent Reform, from 2006 to 2008. www.stopcaliforniagarbage.com www.pennypressnv.com www.choateweinberg report.com THE PENNY PRESS,AUGUST 5, 2010 PAGE 13

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††Policy Form #GRTG or UIRT †Policy Form #GWLC/GWLP, GWL2000 or GWLA000 CGGZNE THE PENNY PRESS,AUGUST 5, 2010 PAGE 14 Commentary: Patrick R. Gibbons It is job experience — becoming more skilled and productive — that Working Against Workers allows minimum-wage laborers to move up the pay scale. In fact, says the Register Employment Policy Institute, 65 percent of minimum-wage workers earn a Nevada — with its 14.2 percent, highest-in-the-nation unemployment pay increase within their first year. TODAY! rate in June — is suffering the consequences of politically appealing but But who are these minimum-wage laborers? egistration September 24, 25 thoroughly misguided state and federal public policies. Today, more than half of minimum-wage earners are 25 years or younger, and 26, 2010 For 53 months straight, unemployment in Nevada has risen. The state has even though those young workers make up just 20 percent of the labor force. Free R not seen an actual decrease in unemployment since January 2006. While the These figures tend to remain constant over time. This means raising the 25th rest of the nation was watching unemployment rates drop since December minimum wage disproportionally impacts young workers. Annual Hyatt Regency 2009, more than 15,000 Nevadans were added to unemployment rolls. Overall, minimum-wage workers also are likely to be unmarried and At the federal level, bad and corrupt policy not only precipitated the work part-time. Most of them are in industries where tips supplement their San Francisco Airport financial meltdown, but growing evidence suggests that Bush/Obama- income (making it higher than the federal minimum). Finally, just a third of administration stimulus funds are prolonging the recession — and especially workers earning $8.25 or less are their households’ primary income earners. so, here in the Silver State. All of this suggests the minimum wage is an ineffective tool for combating 2010 Gun Rights Policy Conference Nevada’s political leaders have only made the situation worse. The poverty. Most economists still agree that raising the minimum wage results legislature kicked Nevadans while they were down with, yet again, a massive in more unemployment. And contrary to claims that increasing the minimum tax increase in 2009. Legislative leaders have also virtually destroyed what wage can increase consumption and boost the economy, the Federal Reserve little economic confidence remained in the state by repeatedly talking up Bank of Minneapolis found “[a] modest increase in the minimum would more tax increases and spending $250,000 on a dubious study to justify their certainly lift some households on the margin out of poverty. However, other hunger for a corporate income tax. households above the poverty line may be plunged below it if the higher Saving Freedom! Nevada voters don’t escape responsibility, either. They put a thoroughly wage causes them to lose their jobs. Even a minimal decrease in employment Saving Freedom! destructive minimum-wage law in the state constitution by a voter initiative could wipe out aggregate income gains from a higher minimum wage.” Sponsored by the Citizens Committee for the Right to Keep and Bear Arms in 2006. Thus on July 1 of this year the state minimum wage increased to Since most minimum-wage workers are young, and raising the minimum and the Second Amendment Foundation $8.25 an hour for laborers without health insurance. wage increases unemployment among workers with fewer skills, we can Siding with demagogues and ignoring wiser counsel, voters no doubt expect to see young people disproportionately unemployed. Sure enough, Come meet national gun rights leaders and your fellow grassroots activists at the 25th Annual Gun believed they were helping low-income workers earn a higher wage. But overall unemployment in June averaged 9.5 percent nationally, but was 25.7 Rights Policy Conference (GRPC 2010) in San Francisco, California. This is your once-a-year chance to network and get an insider look and plan pro-gun rights strategies for the coming year. in reality, minimum-wage laws mandate fewer job opportunities for low- percent among teenagers. Past GRPCs have outlined victory plans and made public the latest firearms trends. They allow skilled workers. Nobel Prize-winning economist Milton Friedman nailed it For racial minorities, unemployment is worse still. White teenagers you a first-hand chance to hear movement leaders--and make your voice heard. when he called the minimum wage “a law that is most properly described as: averaged a 23.3 percent unemployment rate in June, while 39.9 percent This year we’ll take a look at critical issues such as: city gun bans, youth violence, “smart” guns, employers must discriminate against people with low skills.” of African-American teenagers and 35.7 percent of Hispanic teens remain concealed carry, federal legislation, legal actions, gun show regulation, state and local activity. We’ll Many people incorrectly believe that government has to increase the unemployed. And of course, the disparity by race in unemployment persists also preview the upcoming elections and analyze the U.S. Supreme Court McDonald decision. minimum wage because corporations won’t increase wages on their own. among adults: The full roster of GRPC 2010 speakers has not yet been set. Past speakers have included: Alan M. The reality, however, is different: From 1997 to 2007 — a decade when no Gottlieb, Joseph P. Tartaro, Wayne LaPierre, G. Gordon Liddy, Michael Reagan, Larry Elder, Ken Hamblin, federal minimum-wage law was enacted — the number of laborers earning White Black Hispanic Asian John Lott, Sandy Froman, Massad Ayoob, Tom Gresham, Alan Gura, Reps. Bob Barr and Chris at or below the minimum wage fell by 3 million, while the U.S. labor force 8.6% 15.4% 12.4% 7.7%* Cannon and many others. Check our web sites -- www.saf.org or www.ccrkba.org for updates. over that period grew by 5 million. As economists knew would happen, CONFERENCE and HUNDREDS OF DOLLARS WORTH OF MATERIALS ARE FREE! employers, to attract labor, boosted prevailing wages. Source: Bureau of Labor Statistics http://www.bls.gov/news.release/empsit. Books, monographs and other materials—enough to start a Second Amendment library are free, as are Saturday t02.htm, http://www.bls.gov/news.release/empsit.t03.htm *Not seasonally luncheon, Friday and Saturday evening receptions and morning and afternoon snack breaks. Other meals, travel and adjusted. lodging are to be paid by attendee. After you register, you will be mailed information about hotel reservations, invited speakers and a tentative agenda. There is no doubt that Nevada’s minimum-wage law contributes to unemployment and has an especially discriminatory impact on teenagers, African-Americans and Hispanics in the Silver State. 2010 Gun Rights Policy Conference / FREE Repealing the misguided constitutional amendment as quickly as possible would reduce those disparities while boosting Nevada’s economy. Yes, I want to attend. I understand that registration, conference materials and luncheon will be provided PATRICK R. GIBBONS courtesy of CCRKBA and SAF. All other meals, lodging and airfare are to be paid by attendee. Patrick R. Gibbons is an education policy analyst at the Nevada Policy NAME______Research Institute. For more information visit http://npri.org/. ADDRESS______CITY______STATE______ZIP______PHONE (______)______Fax______Email______Topics you would like discussed:______Send to: 2010 GRPC/12500 NE Tenth Place/Bellevue, WA 98005 *Red bars are years in which the minimum wage was increased. Phone (425) 454-7012/ Fax (425) 451-3959 Email your registration to: [email protected] THE PENNY PRESS,AUGUST 5, 2010 PAGE 15 Pet Of The Week Adopt This Pet ! ROGER Call 702-423 2158

Roger is a lot of Doberman wrapped in a small package at just more than 50 pounds. Roger is a truly fine dog we believe to be about 3 years old. He is appropriately cautious with strangers, but once he has checked a new person out, they are his great friend. Expect to be leaned on, nuzzled and treated with great affection. Roger is perfectly content to spend 15 to 20 minutes each time just snuggling up to a friend. Roger is, shall we say, streamlined. Somewhere along his journey, this once stray boy lost both ears. We do not know if it is the result of a proper ear crop gone wrong, or an improper attempt by someone to give him what some consider a military crop. Either way, he is actually quite affectionate and kind. Look into his eyes and heart and you will see he is a sensitive, gentle soul. Someone just has to look beyond those terrible ears. He gets along well with other dogs and children, loves long walks and behaves quite well. A typical Doberman, he can be playful, but is also mellow and laid back with his people. Be warned, though, he cannot hold his licker! Roger is neutered, up-to-date on all shots and has a microchip. This fine young black and tan male is also docked and ready to join your family today. Please complete an application at www. drnv.org. THE PENNY PRESS,AUGUST 5, 2010 PAGE 16

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