Manufacturing Poverty

[choff]

On Von Mises, check out paragraph 18, totally bankrolled by Rockefeller Institute, more to come.

http://www.independent.org/publications ... .asp?a=692

[hanelyp]

When Guernsey Island prints JUST enough money to pay for infrastructure that will actually exist, it meets this requirement--you're creating goods as well as money, so the supply doesn't actually inflate.

The problem with that picture is that building infrastructure consumes materials and labor that would otherwise be available from someone else. However, so long as the new money printed doesn't exceed economic growth you can avoid inflation.

[choff]

Anybody hear about the con-con, Hazlitt was economic advisor to these NWO types and wrote about called 'A New Constitution Now,' he was the guy who helped von mises get foundation foundation funding.

Guernsey couldn't afford the super high interest payments of the English banks tight money policy. But a funny thing happened when they started printing their own, the English banks flooded them with cheap money, deliberately to wreck havoc on the island economy.

http://www.newswithviews.com/Nelson/kelleigh100.htm

[choff]

When Guernsey Island prints JUST enough money to pay for infrastructure that will actually exist, it meets this requirement--you're creating goods as well as money, so the supply doesn't actually inflate.

The problem with that picture is that building infrastructure consumes materials and labor that would otherwise be available from someone else. However, so long as the new money printed doesn't exceed economic growth you can avoid inflation.

In Guernsey after the Napoleonic wars, like North America after 1932, you had the situation of deflation, so materials and labour are sitting idle and will never be used, people who could afford it were leaving. Also, the sea wall was crumbling and you can't use materials or labour if the land to build on has washed away.
They printed a total of 50,000 pounds and became a prosperous growing community in the span of a few years. Compare that to the Scottish town that borrowed 60,000 pounds around the same time for the same purposes. It took the Scots over one hundred years to pay it off, up to a quarter million in one year compound interest.
Hazlitt didn't get deflation or idle capacity in 1932, he was right about the borrowing of money for the new deal, it should have been fiat currency instead, but he'd rather let people starve to death than let the government intervene to save them.
The US government has what?...$14 trillion debt. Cut spending, you shrink the economy, raise taxes, you do the same, borrow and spend you raise the debt even more. Fiat currency done right there's no inflation and no debt, and you get the economy moving again. The next generation shouldn't be stuck with the debt and they shouldn't be taught to keep pushing the same millstone up the hill.

[KitemanSA]

Seems they didn't have inflation because they could peg their money to the British pound and ride on the UK's financial strength. With anything else, this would be called theft.

Guernsey issues its own sterling coinage and banknotes. UK coinage and (English, Scottish and Northern Irish faced) banknotes also circulate freely and interchangeably.

[DeltaV]

The US government has what?...$14 trillion debt.

Closer to $16T. Factor in pension, entitlement, medical, etc. obligations and it's an order of magnitude higher.

[Diogenes]

The US government has what?...$14 trillion debt.

Closer to $16T. Factor in pension, entitlement, medical, etc. obligations and it's an order of magnitude higher.

I think US financial liabilities are closer to 100 trillion. All the money that people THINK is in the Social Security "lockbox" has actually been spent. People paying into the system currently are paying for existing retirees, not their own future retirement.


Social Security is a MASSIVE debt. Thanks Democrats.


http://articles.cnn.com/2008-03-26/us/b ... s?_s=PM:US

[DeltaV]

So it's really Socialist Security.

When the coffers are empty, angry workers will demand change, a perfect opportunity for some con artist walking in the footsteps of Lenin, Hitler, Mao and other socialists.

[MSimon]

So it's really Socialist Security.

When the coffers are empty, angry workers will demand change, a perfect opportunity for some con artist walking in the footsteps of Lenin, Hitler, Mao and other socialists.

Well gentlemen we are engineers. With how ever much time we have left lets get to work.

I note things seem to be trending in that direction. Hi - Tom. Any one else?

[Diogenes]

So it's really Socialist Security.

When the coffers are empty, angry workers will demand change, a perfect opportunity for some con artist walking in the footsteps of Lenin, Hitler, Mao and other socialists.

Did you ever think it otherwise? All steps in the direction of socialism lead to the same place; Death.


The biggest body pile in History is the Hundred Million+ dead from Socialism.

[Diogenes]

So it's really Socialist Security.

When the coffers are empty, angry workers will demand change, a perfect opportunity for some con artist walking in the footsteps of Lenin, Hitler, Mao and other socialists.

Well gentlemen we are engineers. With how ever much time we have left lets get to work.

I note things seem to be trending in that direction. Hi - Tom. Any one else?

I think the first order of business is to get us off of imported oil. Cutting off the money supply to those bastards that hate us will be a twofer.

It will de-energize the Islamist Jihadists, and the money circulating back through our own economy will boost domestic revenues and might make it possible for us to grow ourselves out of the Democrat debt bomb.

I'm putting in a natural gas filling station and converting all my vehicles over to compressed natural gas. Fuel for 50¢/ gallon seems to be a pretty good way of boosting economic activity, if you ask me.

[choff]

Actually , how much of US debt is compound interest. I saw one study that showed how of the current $400 Billion Canadian National debt only about $40 Billion was principal, the rest was all compound interest, a la 18+ % interest payments in the early '80's.

[hanelyp]

The biggest body pile in History is the Hundred Million+ dead from Socialism.

I was reading recently that banning DDT, allowing mosquito spread malaria to run unchecked, has resulted in more deaths than attributed to communist government. But it's hard to separate the reds from the greens these days.

[Diogenes]

The biggest body pile in History is the Hundred Million+ dead from Socialism.

I was reading recently that banning DDT, allowing mosquito spread malaria to run unchecked, has resulted in more deaths than attributed to communist government. But it's hard to separate the reds from the greens these days.

Rachel Carson looks like a communist to me. Yes, she is responsible for the inadvertent deaths of millions of people.

[KitemanSA]

I was reading recently that banning DDT, allowing mosquito spread malaria to run unchecked, has resulted in more deaths than attributed to communist government. But it's hard to separate the reds from the greens these days.

Bravo!