Skip to comments.Frank Roche, "Inflation is a good thing, it's how we become wealthier" = Economics 101 FAIL
Posted on 04/27/2010 2:45:14 PM PDT by saigafreak
WWJD to this moneychanger?
Source? (And identifying who FR is might help some non-NC Freepers as well.)
Well, I’m glad someone finally figured this out!! All they have to do is raise the minimum wage to $500 an hour, and we’ll all be rich. Jeez! You’d think these Nobel Prize winners would have grasped this a long time ago.
link to youtube vid. About 30 seconds in. what a maroon!
Who is this clown and where is he running?
Long term high inflation crushes economic growth. Any firm doing business over a longer time has difficulties because the cost varies so much. Imagine attempting to manage a project that is complex and over several years in a world with highly variable costs. Inflation makes it difficult to start up and grow a firm because interest rates usually explode and borrowing money becomes too expensive........ Inflation is a common consequence of a rapidly growing economy and it can be acceptable, but in and of itself, inflation is never a desirable or good thing unless your a debtor in that society at a fixed rate and can watch as your debt inflates away over time. Inflation benefits those that have debt, it punishes those that saved. It hurts those on fixed incomes and retirements like the old, but those on the government dole see cost of living adjustments. High unpredictable inflation causes people to move their money into more stable/hard currencies. If it gets far out of control as in some Latin countries, money all together becomes nearly meaningless and people begin to barter.............. Look at inflation like the side effects of chemo therapy. The ill feeling, the hair loss isn't nice, but you're willing to accept those things because of the benefits the treatment will bring. Inflation at times is the consequence of a healthy economy growing, but it can also be the consequence of botched up monetary and fiscal policies and enter the economy even though their is no real growth to show for. -IMHO
He is right if you limit his statement to “inflation is how the ruling class gets wealthier.”
Inflation punishes those who save money and spends smartly such as staying out of debt while going into debt is well rewarded.
“Inflation is a good thing, it’s how we become wealthier”
So money does grow on trees.
Welcome to Free Republic!
I am very disappointed in Frank Roche. If it wasn’t his area of expertise, I might overlook this statement.
I’m going to take a look at the other Republican running in this race.
Strictly speaking, moneychangers were participating in deflation, not inflation.
I went back and read his website.
He does sound good.
I hope this was just a glitch. He should have know better, but he is strong on all the conservative issues.
My apologies on my incomplete posting
Frank Roche is running in the 4th against BJ Lawson. BJ is endorsed by the RLC whereas Roche is basically your run of the mill Federal Reserve apologist.
Here is the elitist moneychanger on the Federal Reserve:
Um...I don’t know about that.
Roche is also a Federal Reserve apologist and an advocate of “managed capitalism”.
I'll admit to being partial to Roche but I don't think it's just a coincidence that the OP has been here 8 days and just happens to link to a hastily-edited video posted buy a fella subscribed to Roche's opponent's tube account (PBrady13 subscribed to LawsonForCongress).
In the immortal words of the Fox News of yore, "We Report, You Decide"
I have been partial to Roche too, but Lawson does sound good too. I met Frank and liked him. It sounds like we have a choice between two strong conservatives.
Just listened to your The Federal Reserve video.
I didn’t watch the debate at the time.
Lawson was much better and I have to agree that Roche was an apologist for the Fed Reserve.
Thanks for sharing.
No problem. I’m still getting used to using FR so bear with me on the double posts (didn’t see they had to be approved before appearing).
Yes, I am a Lawson supporter so my opinion might be somewhat biased. Lawson isn’t perfect by any means. He’s “slipped” by mentioning carbon credits, but he has most emphatically stated that that he opposes cap & tax and that local carbon taxes should REPLACE an income tax. Roche supporters would likely capitalize on Lawson’s slip by trying to equate Lawson with Al Gore or Obama (a complete joke). On the flip side, Roche has never advocated the elimination of the income tax system. Basically, you have a RLC endorsed candidate (Lawson just received his RLC endorsement a day or so ago) versus an establishment Republican. I posted this on the RLC forum specifically to inform people on the choices in the 4th, whether they felt like contributing or not. Some FRers will still feel the need to back Roche, and that’s cool too. I most certainly will not.
If this article is true, Lawson has views I don’t support:
Lawson has said that alternatives to a federal income tax should be looked into, including a carbon tax
against legislation such as the USA PATRIOT Act and the death penalty
Lawson is against the Iraq War and against the federal War on Drugs.
Also in the article above:
Lawson opposes a constitutional amendment banning same sex marriage
We do at least have the good taste not to try to capitalize on 30 seconds of video.
by trying to equate Lawson with Al Gore or Obama
or Ron Paul.
Who does he think is going to allow gay married partners to adopt. The government is going to allow gay married partners to adopt, not the Church. We just had a case in Durham, NC where a Duke University employee adopted two children with his partner. He raped the 5 year old black child and offered to provide the child on the Internet to other like-minded monsters. Never heard the final outcome of this case. I don't really care if two gays “marry”, but it throws the door wide open for gay adoptions, which I do oppose.
“local carbon taxes should REPLACE an income tax”
So he’s an eco-freak.
Next. Can we get some real conservatives in here?
“against legislation such as the USA PATRIOT Act and the death penalty
Lawson is against the Iraq War and against the federal War on Drugs.”
Yup. That’s why the RLC endorses him.
Personally, I’d rather have a tax on consumption than on income even if it’s in the form of “carbon”. Like I said, BJ does not endorse cap & tax and has repeated his position there.
There are going to be FRers who support the unPatriot act and those like myself who are against it.
Since BJ is a fiscal conservative, it’s perfectly consistent with his views on the Iraq war IMO. Without a Federal Reserve, it would be impossible to fund foreign ventures such as this. So either you must support war&inflation or you must be opposed to it.
As for the war on drugs, that’s a no brainer for anyone who is an RLC supporter.
Hello all. My handle on youtube is “PBrady13”, and yes, I was the one that made the video. I’m surprised at how much steam it gathered, but that also means needing to clarify some.
A few things:
1) Yes, I am a Lawson supporter. Before he announced he was running, I was volunteering for Roche (I even had videos up for him on youtube, and obviously at the time was subscribed to him), and donated to him as well. Once BJ announced he was running, I carefully looked at both and decided to head to BJ’s camp. I would like to think that I’m somewhat impartial in this regard.
2) Yes, the video is “edited”. That’s kind of the point. I don’t think it would manage to get that many views (or get my point across) if people had to sift through the whole 9+ minute long video. If you watch the whole video (which is available for all to see on his youtube page), you’ll see that all pertinent information was taken IN context. That was the purpose of having that ~20 seconds of lead in. As for the “hasty” part...well...that’s all I could manage in between classes :-)
3) Was this just a gaffe or something bigger? I don’t know. In an effort to distinguish himself from BJ, he’s said some things that I couldn’t help but think were mistakes, but he has repeated them several times over. “Managed capitalism”, as someone already mentioned, is one example. “I’ve never lost to David Price” is another. The last one off the top of my head would probably be how he blames the Federal Reserve’s problems on the fact that it is “made up of human beings”. It is because of this reoccurring theme that I finally decided to make a video.
Hopefully that clears some of this up.
Good of you to step up and jump in. My objection with this post was with the “drive-by” way Frank was slimed, not the video. I may not agree with your view but I think we can agree that either candidate come May 5th is better than 2 more years of Price.
See you at the polls.
And welcome to FR.
If Roache wasn’t in the Temple, Jesus would tell a parable to correct him.