An obscure SCOTUS ruling last week sets the stage for Obama to seize your 401(k)

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An obscure SCOTUS ruling last week sets the stage for Obama to seize your 401(k)

Tapping the estimated $19.4 trillion dollars in private pension plans is every progressive socialist’s wet dream. I warned you Obama had his eye on your 401(k), and now a little noticed Supreme Court ruling just gave him the green light to seize your money.

The US Supreme Court ruled last week in the unanimous, 8-page decision in Tibble v. Edison holding that employers have a duty to protect workers in their 401(k) plans from mutual funds that are too expensive or perform poorly. That is simply astonishing since there is no constitutional requirement for even government to provide social benefits.

Remember when the Constitution provided a limit to government power?

Yeah, me neither.

Now the Constitution says the government has to protect you from your own bad investment decisions. Er, SCOTUS says the government has to protect you from your own bad investment decisions. The Constitution is silent on the matter. But, emanations of penumbras, or some such rubbish dontcha know.

Monday’s unanimous ruling sends a warning to employers that they now must improve their plans and it is now an obligation to project employees. This comes just in time for then the next step is government to seize private funds and prosecute employers who choose badly a fund manager. This fits perfectly just in time for the Obama administration’s next assault as they prepare a landmark change of its own by issuing rules requiring that financial advisers put the interest of customers ahead of their own. This creates a very gray area wide enough to justify public seizure of pension funds under management.

Read that again, in case you didn’t catch the part where the government is going to decide if your 401(k) is “good enough.”

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Yet this decision is even deeper. It sets the stage to JUSTIFY government seizure of private pension funds to protect pensioners. When the economy turns down and things get messy, they are placing measures in place to eliminate money in and physical physical dimension, closing all tax loopholes, shutting down the world economy with FATCA, and preparing for the final straw of Economic Totalitarianism with the Supreme Court reversing its entire construction of the Constitution to impose a duty upon employers to ensure the 401K plans perform in a world where interest rates are going negative. You really cannot make up this level of insanity.

Oh, this level of insanity is just what a guy like Bernie Sanders ordered. It’s the nanny state, writ large.

Bureaucrats answerable to Sanders’ cohort Elizabeth Warren will now get to decide if your 401(k) plan cuts the mustard. They’ll arbitrarily set a cap on management fees, and punish any fund that exceeds their idea of a “reasonable” profit.

The punishment? Seizing the fund’s assets, and forcing your money into an investment in Treasury bonds.

Then you’re just another creditor to Obama, standing in line behind all the geezers on Social Security. Good luck getting paid, after all you’re also collecting Social Security, and sooner or later you’ve made enough money.

Between the court ruling and the Obama administration’s push for stronger fiduciary rules send a strong message that government can much easier seize the pension fund management industry of course to “protect the consumer.”

Who’s gonna protect us from the government?

You knuckleheads shoulda thought that through before you elected a committed Marxist to the presidency.

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Court Finds That Bloggers Have Same Rights as Journalists: Important Repercussions

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govt-censorshipProgressives, or as I like to call them, regressives, no matter of which party, hate the fact that new media is threatening their information monopoly.  Bloggers are among their chief targets. John Kerry notes a few months ago…

Steve, from America’s Watchtower, has more…

Yesterday at the U.S. Embassy in Brazil John Kerry said the following:

I’m a student of history, and I love to go back and read a particularly great book like [Henry] Kissinger’s book about diplomacy where you think about the eighteenth and nineteenth centuries and the balance of power and how difficult it was for countries to advance their interests and years and years of wars,” Kerry said to a gathering of State Department employees and their families.

“And we sometimes say to ourselves, boy, aren’t we lucky

  Okay, nothing wrong there, we are lucky to live in a world where it is much easier for countries to communicate with each other. But apparently the Secretary of State does not see it that way for he continued:

Well, folks,” he said, “ever since the end of the Cold War, forces have been unleashed that were tamped down for centuries by dictators, and that was complicated further by this little thing called the internet and the ability of people everywhere to communicate instantaneously and to have more information coming at them in one day than most people can process in months or a year.

“It makes it much harder to govern, makes it much harder to organize people, much harder to find the common interest. (emphasis added)

Just remember folks, you are too dumb to make your own decisions.  You should be like the low information voters that do what they are told.

We’ve broke so many stories, and kept the pressure on with so many others, that the Democrats in Congress were working on a means to silence us.

Dianne Feinstein wants to regulate who can and cannot be a reporter.  The Internet’s largest disseminator of news, Matt Drudge, called her a “Fascist”.

Yesterday, the Senate Judiciary Committee voted for a “Reporter Shield Bill” which would determine who is and who isn’t a journalist.

Here’s Senator Feinstein at the hearing:

Senator Feinstein proposed language that she said,”effectively sets up a test for establishing bona fide credentials that make one a legitimate journalist.”  Legitimate journalists will be protected.  Non-legitimate journalists, like blogs, will not.

As you might guess, this legislation would have created a situation in which the only “bona fide” journalists would be the ones who repeat their regressive talking points like good little sheep.  Remember when the White House said that FOX News wasn’t a “real” news outlet?  That would then extend to any source of information that did not tow the Democratic party line.  They would be no longer “bona fide.”  Then, Democratic operatives would target those sources.

Thankfully, a court has decided that the First Amendment applies to all Americans, and not just the organized liars at MSNBC.  Steve, at America’s Watchtower has more…

Today a Federal Appeals Court ruled that bloggers do indeed have protection under the First Amendment of the Constitution:

A federal appeals court ruled Friday that bloggers and the public have the same First Amendment protections as journalists when sued for defamation: If the issue is of public concern, plaintiffs have to prove negligence to win damages.

So, the Democrat’s efforts to create a “playing field” where bloggers can be sued out of existence for writing an opinion, or citing facts, has failed-for now.  However, they will be back.  As John Kerry points out, the regressives think we are far too stupid to be trusted with factual information, so sources of information outside of the government must be eliminated.  After all, how are we supposed to believe that global warming causes it to be cold?  How are we supposed to believe that a YouTube video caused Benghazi when it was so clearly a planned attack!  How are we supposed to blindly believe that ObamaCare is the best thing since sliced bread when the bloggers show how many people are losing hours, or their jobs, or their plans?

You get the idea.  We are dealing with a totalitarian government that is busy consolidating power.  To accomplish that, information must be controlled.  Bloggers are an obstacle to that, so we have to go.

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