JasonC SBB

A lot of the economic "axioms" regurgitated by the press just make no sense.
e.g.
"Deficits don't matter'
"we're deep in debt but we can get out of this mess by getting deeper in debt"
"gov't will borrow money from the FED" (instead of printing it for itself; the FED is a banking cartel which prints money out of nothing then charges interest)

Keynes' ideas were just so ... idiotic, such as "burying jars with printed cash for companies to dig up and stimulate the economy". Plus, Keynes and "modern economics" legitimize a cartel and central economic planning, that was created by 7 reps of the largest Wall St. banks of 1910 ... resembling a system which dates back to the creation of the Bank of England, a system which is the ultimate scam. It's such a crock of ****.

Austrian School Economics just make so much more sense. E.g. you can't really create investment unless there is some savings first.

I can totally see that a monetary system wherein debt is encouraged via systemized overleverage and interest rate manipulation, plus money disappearing when debt is repaid, leads to instability. The damn system is an oscillator!

JimAtFSU

I agree, but how can we work within the political system to change this?

I've been hanging out with some pretty smart economists here (some of whom are very politically savvy) and none of them seem very optimistic. The political pressures win out over math skills every time. The only people who are happy right now are the socialist law professors who have spent most of their lives waving the hammer and sickle and waiting for something like the current shitstorm to happen.

I predict we will have to wait until the other countries stop buying our treasury notes and our money-printing mechanism becomes broken. Once that happens, we'll probably be saddled with an enormous obligation just from servicing the existing debt, but at least we'll have to live within our means from that point forward.

But it's not going to be pretty to make that transition. There will be lots of upheaval as all the parasites fight to retain their share of the shrinking pie of federal handouts.

JasonC SBB

Yes it's a very difficult problem.
This is not a battle of personalities, but ideas.
With every grassroots revolution, awareness needs to spread first.
We gotta start somewhere, sometime. May as well be now. At least with this crisis, people are now much more willing to listen.

BTW the biggest parasites who will put up a fight, aren't the populace, but the financial elite that milk us and the system. They are now a 10 lb tick on a 5 lb dog. The problem is convincing the populace, when the elite shape "public opinion" through the mass media.

The internet is the game changer.

Gandhi said:
"A small vocal minority can effect great change"
and
"Be the change you want to see in the world".

We need a paradigm shift, away from debt-fiat currency, central banking and central economic planning. I believe I'll be privileged to witness this revolution in my lifetime. Then a new dawn of prosperity will set in.

Peace.

shuiend

iTrader: (24)

Slight side track, but are your "socialist" law professor fighting for socialism in the classic form or in the new age form?
Classic Socilism = Advance Material Production
New Age Form = Equaitly