Posted on 07/29/2022 7:22:06 AM PDT by DIRTYSECRET
We’re embarked on the Greater Depression. Here is what needs to happen if the depression is to be as brief and as therapeutic as possible. Why deal in half-measures?
1. Allow collapse of bankrupt entities. 2. Deregulate. 3. Abolish the Fed. 4. Cut taxes 50%… 5. Default on the national debt. 6. Disentangle and disengage.
(Excerpt) Read more at internationalman.com ...
Item#6 would be difficult to calculate but we should discuss it more.
Never happen. Too much to sacrifice for politician. It’s easier to kick the can down the road.
President Bungles won’t care if people are eating their dogs. Whatever proposal Democrats come up with will be designed to slaughter more of us, and Romney, Cheney and company will join in.
We’d all be hurting’ big time. People would have to share more. Other people’s money would not exist. The market hit in 1920 was worse than 1929 but the country recovered quicker. If FDR piled on with the New Deal we can do the same and make them squeal by packing the SCOTUS.
What the Government Should Really Do in the Greater Depression...
Take a long walk off a sort pier...
Ironically, the Soviets were able to do it. They allowed the peaceful collapse of their own system.
I suppose they reached the point where even those at the top realized their system was completely fake and bankrupt. Here in the USA, we aren't even close to that. Our "elites" are convinced that more (neo) marxism is possible and desirable. Seems we have a long way to go.
$23 trillion of our $30 trillion debt is owed to Americans.
I think that idea might disturb The Force.
3. Abolish the Fed?
The Fed was originally just supposed to be a way of ensuring liquidity in a banking crisis. It's role as manager of the economy stems from abandoning the gold standard, which means that the value of money is set by interest rates, unconstitutionally transferring control of the currency to the Fed. Restore the gold standard and the Fed and overspending problem go away.
7. Disengage?
The bulk of US defense spending is on personnel, but the most wasteful part is the broken procurement system that funnels hundreds of billions to defense contractors with no requirement to produce working, affordable weapons systems. Go back to simply offering tenders for systems with stated capabilities and require the contractors to supply working prototypes like we used to do. The Navy should get its own design bureau and shipyards as it used to have because naval vessels are far too specialized for most civilian shipbuilding and right now there's zero surge capability for shipbuilding. And the reason we have forward deployed forces is that it's much cheaper to multiply force by deployment and fight on someone else's territory than rebuild defenses (coastal, air, land) in the US. Going back to a pre-WWII or even pre-WWI foreign policy will just get us WWIII. The whole libertarian/paleo-con fantasy that we will be left alone if we don't "meddle" is right up there with the delusions of the unicorn fart powered Green New Deal.
6. Default on the national debt?
I don't think the author has any idea of what this would mean. Think Weimar Germany, compounded by the inability to import the thousands of parts we need to make the US economy run as no one will take worthless US dollars. Everything from cars to combines to aircraft would cease to function within a few months.
I can see you know more than the rest of us. I do like the ideas though. If abolishing the Fed is good enough for Ron/Rand Paul it’s good enough for me.
Disengage. Doesn’t have to be 100% but it should be enough to scare everyone.
Default. A bitter pill yes. The youngest baby boomer will be 100 y/o in 2064. We could fix it by the time he/she turns 80 in ‘44. Baby boomers could make their mark like the Greatest generation who spoiled us. The left will try to trip us up every step of the way.
You are right it’s undoable. Still this will be a crisis and like the left we should not let it go to waste.
Similarly with foreign policy, even my European relatives are embarrassed every time some problem comes up and their politicians ask why the Americans aren't doing something. Many here seem to think we should just pack up and leave, but I think that's even more expensive and definitely more risky. What we should do is offer a deal: meet your NATO obligations or we will bill you for the extra capability we provide, and if you don't pay, we'll tariff the crap out of your imports.
Any wars we engage in should be carefully chosen, brief, and annihilating for our adversaries. Even during our brief dalliance with imperialism in the 19th century, Americans were very leery of liberal imperialism.
We used to be better at playing this game, but our elites are delusional and corrupt.
Tariffs over non-trade issues. Sounds good.
No more freeloading allies. The costs of the NATO commitment are not negligible, and if European NATO members are unwilling to pay, having American businesses pay the taxes to support it is just subsidizing the Europeans.
Ping
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