The View From 1776

Tooth Fairy Economics

Tom Woods gives his perspective on why the current stimulus plan, indeed any stimulus plan, is worse than doing nothing.

Posted by .(JavaScript must be enabled to view this email address) on 02/20 at 12:21 AM
  1. Keynesian claptrap merely supplies the rationale for economically illiterate politicians to do what they would like to do anyway, namely, spending other peoples money for political payoffs and redistribution to buy votes. The fundamental politically systemic problems and inefficiencies need not be addressed while the seeds are sown for long term problems like future inflation to steal the savings of the responsible. The US constitution was written with the history of kings and princes and the damage they do to the people always in mind. Currently our kings, princes and princesses in Washington are reverting to form since our constitution has become a dead letter. They don't even feel the need to read legislation like the crack-pot, Chicago-style 'stimulus bill' before voting. Revolting.
    Posted by .(JavaScript must be enabled to view this email address)  on  02/20  at  11:36 AM
  2. The problem Tom, is that once you embark on this road, it takes pain to get off it and Americans aren't prepared for pain. That takes savings and multiple skills and living within a budget, etc.

    Government isn't prepared for that, we know but, neither are the people and if the President didn't "do something" the people would want him impeached and Congress would probably do it.

    This is a catch 22 where if you don't do anything, you have a depression and if you do something, you still have it but, maybe later and maybe worse because it may cause a currency collapse.
    Posted by JanPBurr  on  02/20  at  08:12 PM
  3. So what? The sooner the fallout is dealt with the easier the cleanup. It won't be easy now but it will assuredly be more troublesome later.
    Posted by .(JavaScript must be enabled to view this email address)  on  02/20  at  10:35 PM
  4. I agree but, the voters aren't going to want that because they don't know what they are dealing with later, only what pain they are suffering now.

    Because we haven't taught sound political principles in this nations for 100 years, we are going to pay the price now.

    By that I don't mean we can't have change or evolve as a nation but, when you lose the checks and balances needed to prevent this kind of situation, you end up with people who aren't prepared to deal with it.

    Many of these principles for funding growth and government spending were adopted by other nations because they "appeared" to work and now they are suffering, too.

    We used or status of the nation with global reserve currency and manipulation of numbers on things like CPI and GDP to create an illusion of health that really wasn't there. But, that illusion was enough to get many other nations to try and do what we were doing monetarily and economically to keep growth going.

    Then we expanded it with derivatives in a way that the other nations also thought there was a safe way to minimize risk and thus, took on more risk than they should have.

    It was like a ponzi scheme where each decade new ways to keep the system going had to be found that would expand the means of funding the system to keep the illusion of growth going.
    Posted by JanPBurr  on  02/20  at  11:08 PM
  5. We are being taught that it is alright to cannibalize. Abortion is a variety of cannibalization. Individuals don't count; only numbers.

    Now, today, we are on a materialistic course of cannibalizing huge numbers of todays pre-born, but future whole generations of the unborn; two, three, four....generations into a stupid future.

    Materialism has no brain and no criteria. Quit talking economics and start talking courage, morals, and ethics. Their abdication controls.

    Patty cake? Still.......?
    Posted by Jim Baxter  on  02/22  at  10:35 AM
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