Posted on 12/20/2012 3:07:47 PM PST by BfloGuy
The human race, in its advanced economic form, is committing euthanasia. The US, UK, Europe and Japan are all implementing economic policies that must ultimately result in the complete destruction of their currencies; and if you destroy the means of exchange of goods and services, your people will starve. The political class and government establishments have drifted in incremental steps into this tragedy. Far from being the guiding hand for society, they are its destroyers.
We all look to government to supply what we used to provide for ourselves, in the naïve belief that it is our servant, it has our interests at its heart, and that it can deliver. Collectively we have chosen not social co-operation, but the disintegration and ultimate destruction of society itself. We labour under so many misconceptions about where our true interests lie that we have completely lost our bearings. We have in our time witnessed other nations destroy their own economic and social structures and do not see it happening to ourselves.
When reality intervenes, we deny it. The state controls money and prices. It makes economic calculation meaningless. It takes our property in the name of the common good to dispose of as it sees fit. There is nothing new in this: Keynes himself advocated the euthanasia of the rentier, or saver, in his General Theory, which is every neo-classical economist’s vade mecum. He advocated replacing the functionless investor with limitless state capital, and even capping the profits of the entrepreneur. We have been following Keynes’s grand fallacies for 90 years now. His vision is our sad reality.
The cost is our own impoverishment and loss of freedom. The state only values us for our contributions to it. We must be controlled for our own good. The state does not fear for itself so long as there is any wealth left to sequester from us and any freedom left to us to pursue non-statist objectives.
All the governments mentioned in the first paragraph are running out of their citizens’ money. Together, they are destroying their capital at an accelerating rate, just so that they may survive. They rely on mutual planning in the erroneous belief that it will save them, when the only chance for any one state to survive and eventually prosper is to stop conspiring and face up to the problems of its own making.
Instead, next year – when the weaker governments begin to collapse under the hammer-blows of economic reality – when they cannot hide the insolvency of their state-regulated banking systems, the stronger governments will sequester the remaining resources of their own citizens to prop them up, as Germany is doing to her people today.
To paraphrase Macbeth at his lowest ebb: it is a tale, full of sound and fury, destroying everything.
This article was previously published at GoldMoney.com.
Its first effects were the price inflation of the late seventies which caused us to lose our trade surplus and created the Rust Belt.
Inflation has hollowed out our manufacturing base, consumed our capital, and caused the income inequality the libs like to blame on capitalism.
We're near the end game now, though. They'll blame it on something else, of course.
Yup. It is starting.
Voices from the American gulag...........but, but, I thought we were on the same side, I supported you, we voted for you, you promised
As Mr. Micawber said in David Copperfield, "Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery."
This is a planned gamble by the socialists and islamists.
The economic collapse of the Western nations will happen all-at-once, as they will all agree it is the only option to face our fiscal and economic crisis.
Perhaps we will see a simultaneous attack by islam into Europe, creating a demand by “the people” to answer that threat.
The socialists will sell “the people” on a united response from a super-NATO or “United Nations” which will require a specially selected, emergency administration made up from members of all the individual countries.
They will offer us a new constitution to ensure we are guaranteed healthcare, welfare and prosperity, modeled after FDR’s “Second Bill of Rights”.
Bottom line: Statists will gamble that a collapse of currency will mean the people turn to an even larger, more over-arching government than anything conceived before.
It doesnt really matter whether one bets on productivity of farmers, miners, and foresters versus the market. The original source of all the money in the nation comes from them.
It doesnt matter how many manipulate, parasitically feed on, or otherwise benefit from the originator. All else, especially the value added products and the subsequent trade activities of those practicing their trade in certain parts of New York, are frauds.
It doesnt really matter whether one bets on productivity of farmers, miners, and foresters versus the market. The original source of all the money in the nation comes from them.
It doesnt matter how many manipulate, parasitically feed on, or otherwise benefit from the originator. All else, especially the value added products and the subsequent trade activities of those practicing their trade in certain parts of New York, are frauds.
Whaddya mean, since LBJ? Since 1913.
I think that is a very misguided way to look at things. Wealth, for lack of a better term, comes from three sources, basically:
1. Natural resources, which you may call “the soil.” It is what God provides.
2. Labor, which is what we provide.
3. Capital, which is what we have made from what God gave us to provide for us.
Everything comes therefrom. But ut does not follow, then, that what you call value-adding and trade activity, even in New York, is I don’t know what. Wealth comes from that activity, too, if only indirectly. Because even if you think it’s all mumbi-jumbo whatever it is you’d have them do instead maybe not creates but sustains or diminishes wealth.
Resources, be they in land, capital, or labor, must be allocated efficiently. The study of how is called economics. Without efficient allocation there is no wealth to enjoy at last, no matter where it originated.
Heh. OK. Point granted.
In the modern era, the Fed's funding of the Viet Nam War conjointly with the Great Society set off the crises we're paying for today.
I cannot disagree with that statement.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.