The John Adams Society


John C. Povejsil

G. Larry Colson, Jr.

Mark Sanquist

Peder Mewis

Chairman Secretary Chief Whip
Chancellor

April 2009

The economic miracle that has been the United States was not produced by socialized enterprises, by government-union-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline.

- Milton Friedman

It’s hard to admit, but America’s best days are behind her.  We’ve had a great run, but we must acknowledge that while we are still a “shining city on a hill” for those in the world who seek freedom, economically, we’re in junk bond/penny stock territory.  Given our unwillingness to truly change our ways, there is no chance that we’ll return to our prominence as a world economic superpower and currency of choice.

Vast government spending, increased taxation, rewriting of contracts, corporate bailouts and other measures that “succor failure” have created an environment where success is dictated not by what you can accomplish, but by which politicians you can get to stifle your competition.  We have not yet fully achieved the Randian dystopia that President Obama and his merry band of Wesley Mouches seem intent on creating, but smart money will look anywhere but America for profitable investments.

On the other hand, those whose opinion of America and her capabilities has been shattered by the actions of her government are fatally myopic.  America was founded by hard working men with a vision, and despite herculean efforts by our rulers, that entrepreneurial drive to succeed and excel is not so easily trampled.  Those who let their schadenfreude cloud their judgment and bet against America, or more accurately, the American People, will look back on that decision with great regret.

THE CHAIRMAN, for whom investing in America meant purchasing shares of GM, Bear Sterns and Lehman Brothers, has called a debate to settle the question:

Resolved:  Sell America!

The Debate will be held on Wednesday April 15, 2009 at the University Club, 420 Summit Avenue, in Saint Paul.  The Chancellor will preside over drinks beginning at seven o'clock p.m.  The debate will begin at half past seven.  While there is no dress code for attendance, gentlemen who wish to speak must wear a tie; ladies should adhere to a similar sartorial standard.  For those gentlemen who arrive tieless yet wish to speak, fret not: the Purveyor of Ties will keep on hand at least one of his quite remarkable ties for just such an eventuality.  Questions about debate caucus procedures or about the John Adams Society itself may be directed to the Chairman at (651) 294-4800 or the Secretary at (612) 384-6776.

www.johnadamssociety.org