Last night I posted what I would do if I were expected to do something. Two of the points I said that would need our attention would be fiscal policy and inflation. Both are obviously related but in the short term, we can make immediate changes to reduce the coming hyperinflation. The current bailout bill is the wrong direction for the short and long term.
Not that Glenn Beck is a good source of backup, but the data from the Federal Reserve is.
Finally, AEI has a great article called "The Second Coming of Keynes." I recommend it to you. If you look at the proposed bailout relative to anything that has ever been undertaken by the government in our history, you will see how crazy this plan is.
The author closes: "The truth is that there is very little empirical support for policies such as these. They will likely provide a small boost, at an enormous cost. When the boost is gone, the cost will remain.
For those economists who are more skeptical of the theories of John Maynard Keynes, there is but one consolation: An experiment this large will provide ample opportunity for study. "
Indeed it will and we have good reason to suspect the outcome won't be pretty. Amending the Federal Reserve Act to allow money to be printed only at the rate of productivity would be the best and most sound fiscal policy for our country - gold should not be our standard nor should the great experimental ideas of the Fed bankers. Gold and the Fed are not the wealth of the nation. Smith was right - it is labor.
There are two enemies to our future - Government spending and the Federal Reserve system of unbridled freedom to set America's monetary policy. Both must be reigned in.
http://www.youtube.com/watch?v=zdVP_sgCETo
To watch a short presentation on the point I made regarding the money supply increasing by 24% annually, you will need to watch this:http://www.youtube.com/watch?v=YDEe0Ai6lTM
Not that Glenn Beck is a good source of backup, but the data from the Federal Reserve is.Finally, AEI has a great article called "The Second Coming of Keynes." I recommend it to you. If you look at the proposed bailout relative to anything that has ever been undertaken by the government in our history, you will see how crazy this plan is.
The author closes: "The truth is that there is very little empirical support for policies such as these. They will likely provide a small boost, at an enormous cost. When the boost is gone, the cost will remain.
For those economists who are more skeptical of the theories of John Maynard Keynes, there is but one consolation: An experiment this large will provide ample opportunity for study. "
Indeed it will and we have good reason to suspect the outcome won't be pretty. Amending the Federal Reserve Act to allow money to be printed only at the rate of productivity would be the best and most sound fiscal policy for our country - gold should not be our standard nor should the great experimental ideas of the Fed bankers. Gold and the Fed are not the wealth of the nation. Smith was right - it is labor.
There are two enemies to our future - Government spending and the Federal Reserve system of unbridled freedom to set America's monetary policy. Both must be reigned in.
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