Posted on 04/19/2009 10:13:09 PM PDT by Texas Fossil
Resurgence of mercantilist influence is neither coincidental nor recent. Eighty years ago, mercantilists stuck their noses back into the Republican political tent and imposed the Smoot-Hawley Tariff Act on the U. S. and the world. Franklin Roosevelt then delivered the Democratic Party to them, turning previously free-trading farmers into government-subsidized champions of trade barriers. Mercantilists won control of the Federal Reserve in 1971 after years of Keynesian whittling at the Bretton Woods pledge to keep the dollar’s value stable relative to gold.
(Excerpt) Read more at realclearmarkets.com ...
Found his perspective on the Fed's Policy amazing.
Topics:
Mercantilist “Zero-Sum” Resurgence
Engineered Dollar Devaluation
Sadly, most Americans have no idea what Mercantilism is. They don't know the difference between Mercantilism and Capitalism. They don't know that we actually fought the Revolutionary War about Mercantilism, and that Mercantilism played a large part in the Civil War, as well.
The worst part is that most Americans have no idea how closely related Mercantilism and Fascism are (first cousins, in my opinion). And how quickly we are sliding from Mercantilism to Fascism under Obama.
The books: “His Excellency George Washington” by Joseph J. Ellis and “John Adams” by David McCullough in varying degrees illustrate your point about Mercantilism creating much of the stress that lead to the Revolution. The book about George Washington does more so than the one about John Adams.
They are both an excellect reads.
I have the DVD set that HBO did based on the John Adams book. It doesn’t touch on the economic issues, and focuses mostly on the life on John Adams himself. So if you really want a good picture of what was going on, you have to read the book.
Merchantilism:
The author of the article certainly understands it.
I found him with a more recent post. This is on a Blog in Tenn. I have talked with Terry some time ago on a different matter, but she has a good blog.
The Article discusses the impact of this on the “Middle Class” in the U.S.
I though it was as revealing as the earlier article was prophetic.
Regards,
Texas Fossil
My family understands what the Civil War was fought about. They were literally burned out of Alabama during Reconstruction after the last Civil War.
It was about protection of fledgling industry in the NE, at the expense of agriculture in the South. (Tariff issues) Slavery was not what it was about, although that is a collateral issue.
My family has farmed here in Texas since that time. I was the first to move away (for 30 years) and moved back about 12 years ago. Plan to stay this time, I am 61.
My father still farms at 83, and works every day.
At the end of the Civil War the South was beaten, and occupied and humiliated in the deep south states. Many who left posted GTT (Gone To Texas) on the door of the empty homes (the ones that were not burned).
Texas was never fully pacified, there was an attempt at occupying it, but it was never effective. They were beaten, but still defiant.
The Radical Republicans did this. But I have never voted for a Democrat for national office in my life, and do not plan to.
Texas will resist an oppressive government even now. It is the nature of the beast. We will not go quietly under the Yoke.
The article I posted referenced how the financial industry has shifted from one party to the other, but their impact is the same. I thought it noteworthy.
Add a complete miscomprehension as to what America is and the absence of historical knowledge and skepticism necessary for a free people and you get our current tyranny.
Most of these problems are directly traceable to expanding the voting franchise.
How a free people could let their lives be manipulated by a few hundred is sickening.
Did you read the more recent one at http://terryfrank.net/?p=3871 ?
The mechanism was easier to understand than the more detailed treatment 1-year ago.
Jefferson understood it when he said:
"A people ignorant and free, never was and never will be."
Unfortunately far too many people think that technical knowledge (and I study technology) makes us superior to those who lived 250 years ago. But the reality is that knowledge is not as important as wisdom. Wisdom is a much broader understanding.
I work around younger people who look at a 61 year old guy and say how can he know anything. I publish a 3000 page catalog for a distributor, and have a couple of techno whiz kids that I interact with. They probably have superior technical skills, but they cannot compose the piece like I do, because I have 35 years in the industry and know the product, customer, and how everything comes together. There is no pattern to create it from (37,000 items).
I look at the NetRoots and think the same thing, they serve their master, but have no knowledge of where he is taking them. It is a pity. Before the elections I had a run-in with some of them. Not only are they arrogant, but they thing they are really intelligent.
In all of human history nothings changed - people are still people. Stone tools or lightsabers won't change that.
Wisdom always falls out of fashion.
Thanks for the compliment.
Unfortunately, being right about observations do not always make you financially successful, or promote career advancement.
I have fought that battle, and understand the consequences of always trying to seek the truth, and giving a straight answer even when it is not what the powers-that-be want to hear.
Money is not the best measure of a man.
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