Posted on 08/28/2014 6:53:33 AM PDT by Mechanicos
... The reasoning was very simple: in a country (and world) drowning with debt, there are only two options to extinguish said debt: inflate it away or default. Anything else is kicking the can while making the problem even worse.
... Moments ago a stunning article appearing in the "Foreign Affairs" publication of the influential and policy-setting Council of Foreign Relations, titled "Print Less but Transfer More: Why Central Banks Should Give Money Directly to the People."
... In it we read the now conventional admission of failure by Keynesians, who however, unwilling to actually admit they have been wrong, urge the even more conventional solution: do more of the same that has lead to the current financial cataclysm, only in this case the authors advocate no longer pretending that the traditional monetary channels work but to, literally, paradrop money. ....
(Excerpt) Read more at zerohedge.com ...
This sounds pretty drastic.
I have a much better idea: Direct all citizens, non-citizens, aliens, undocumented... to go thru all their belongings and break ALL their glass. Any glass you walk by - break it. Now, the prescient folks of Missouri already have a start at this in Ferguson - good for them!
ALL this broken glass will have to be removed, new glass manufactured and installed. This will be a TREMENDOUS boon to the economy! Might even erase the entire National Debt!!
The money would only go to people with a history of receiving government assistance,that would be my guess.
Insofar as the Federal Reserve _is_ “printing money” for distribution, methinks it should be handed out evenly to the citizens, rather than offered to a few banks for highly leveraged abuse. Fed pulls another “quantitative easing” of $1T? everybody (age irrelevant) gets $3000.
It’s a waste, as it’s an artificial bump quickly absorbed & compensated by markets, but at least it would be evenly distributed - as opposed to the waste via banks sitting on $billions and using it for their own unfairly leveraged gain. Better to show it as a meaningless numbers game evenly distributed, than perpetuate cronyism.
Wikiquote is normally reliable. It is *largely* from a letter to John Taylor dated 15th April 1814.So in my view, given the context of that quote and this abject cynical view of the outcome (I can't analyze Adams' writings, intent or his personal views w/o expending time I don't have)...However, the version you have is a misquotation, and the text of the letter has been further mangled by rather naughtily compiling different sections to make a single quote that Adams never wrote. From The Works of John Adams, Second President of the United States, Volume 6, 1851, where the Taylor letter is reprinted:
"Democracy has never been and never can be so durable as aristocracy or monarchy; but while it lasts, it is more bloody than either." Reference
And about a page later ...
"Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide".
Source(s): Google Books
...is it factual to call Keynesian Economics a 'failure', if the intended outcome is 'either of the two' (aristocracy or monarchy, or some derivative)?
If the answer is 'no', then the logical intent of libs/progs is usurping the Constitution (without regard to the obvious defects in our "democracy").
That brings on a whole different discussion I won't have here...nor about this stupid article.
“The experience of all former ages had shown that of all human governments, democracy was the most unstable, fluctuating and short-lived.” - John Quincy Adams
“Democracies have ever been spectacles of turbulence and contention;have ever been found incompatible with personal security or the rights of property; and have, in general, been as short in their lives as they have been violent in their deaths.” - James Madison
Democracy is the most vile form of government - James Madison
Democracy is two wolves and a sheep voting on what’s for dinner.
Which is why the United States was not founded as a democracy, but rather as a republic.
For the edification of those in learning mode, the United States of America allows its citizens to participate in democratic elections but holds those elected to the Rule of Law meaning a republic.
A shorter encapsulation is ‘Democracy for the People, a Republic for the People’s government’.
Therefore, the United States is a Republic, as long as the People can keep it as such.
You are right. The only real way to do this cash transfer is to send everbody a check or at least just leave out Warren Buffet and Bill Gates crown and pay almost everybody.
I and I’m sure many other non genius type people thought of this during the original $600 billion dollar stimulous or bail out. If they had just sent every household in America a check they could have paid off their debt and not lost their homes. It would have stimulated the economy right out of trouble. Instead the shovel ready jobs did nothing.
If they had given every household a check for even $100,000 things would have rebounded so fast it would make your head swim. Even though a lot of the lower income boobs would have blown the money at least they would have spurred the economy.
“Democracy is two wolves and a sheep voting on what’s for dinner.”
But a constitutional representative republic like ours says dinner isn’t the sheep and the sheep have machine guns.
Ping
Listen. Our government’s policy has been to dilute the value of the currency, lessening its value and resulting in inflation.
Inflation, in the weak mind, is easily confused with rising prosperity, since the “economic indicator” numbers are going up and the media and government are crowing loudly.
Their stupid efforts are not working, because they’ve destroyed this country’s ability to produce, resulting in a shrinking job market and falling salaries.
For the simple-minded liberals and media types: fighting unemployment with programmed inflation is the wrong way to go.
You’re being defensive.
The quote is, without a doubt, a stitching together of writings, based on multiple sources. I could care less.
I’m not criticizing the quote nor you as OP; the article is stupid and, from one POV, KE is doing exactly what it was intended to do.
Mo’ Money. The FSA has to compete with those new $13.00/hr wage slaves somehow. Bring on the green rain! This country needs more EBT Millionares!
If that was the intent. The real intent was to keep wealth in the hands of its "rightful owners".
It's now a matter either of restoring the Republic or sliding into tyranny. Unfortunately the ground for the latter has been much better prepared: direct election of Senators, the income tax, the Federal Reserve, the wrongly decided Wickard v. Filburn and Reynolds v. Sims, the whole expansion of Federal regulatory power the first of those fueled, the destruction of liberty on the plea of suppressing drug use -- the militarization of the police, on-knock warrants, and civil forfeiture laws -- the destruction of liberty on the plea of protecting us from terrorist -- the Patriot Act, the NSA's domestic surveillance programs, the rubber-stamp secret FISA court,.... And that's just the warm-up for Obama's abuses of power, which at least the SCOTUS has occasionally rebuked on 9-0 decisions.
This is part of the rationale Teresa Ghilarducci offers in her plan to nationalize all pensions into one huge fricking centralized national Super Social Security system. That direct deposits into participants bank accounts could be made by the Fed at any time to provide “stimulus”.
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