Isn't debt deflation another term for inflation?
One of the good things about being broke is I don’t have to worry about where not to invest. I invest only in lead. Much more bang for the buck than gold.
Supply side would have thoroughly worked if spending was not baselined, entitlements were cut and the redundant and useless agencies were ultimately sunsetted. Just simple reform would have made the ponzi scheme known as Social Security solvent. But whenever the government hydra is confronted by conservatives the media and leftist scream like gutted rabbits. All programs and all corruption were sacred.
Ronald Reagan’s administration’s push to cut entitlements (which are not mandated by the constitution) was thwarted at every turn by the leftist, the media, RINOs, and and finally by public opinion molded by leftist media. It was and is the entitlements that bloat all government deficits.
The only sector of the government the left wish to cut and destroy is defense, whether it is the local sheriff’s budget or # of ships in the US Navy.
Yet, the leftists are first to use the loss of cops and armed personnel as examples of why the govt should always tax more for their entitlements. They’re rotten, lying, b@stards.
David Stockman should know this context. He lived it. Stockman was hated before Newt or Rove as the worst person on earth to leftist, statists, and the elites.
So when David made derisive comments on the effectiveness of tax cuts and the Reagan years a few years ago, most conservatives scratched their heads.
But now Mr. Stockman wants to go back and play with our side again. David opines that the Bernanke method is killing us. Bernanke is killing us. I agree.
Before anything, we need to overturn Obamacare. Second, we need to make the tax cuts permanent. We need to end the Fed’s control of the economy and overturn the 2010 act that gave the Fed unnatural, unconstitutional, and fascist powers over our economy. And finally, we need a new Omnibus Spending Act that balances the budget, sunsets entitlements, and finally addresses the horrible corruption in this monster government spending.
And Mr. Stockman, it would be swell if you returned to your neo-classical economic roots, rolled up your sleeves, man-up, and help us make it a reality.
He seems like a slick sociopath from glancing though the biographical material on FR search engine, particularly this post from 2007:http://www.nytimes.com/2007/04/15/business/15stockman.html?_r=1&hp=&pagewanted=print
“Since his days as a Marxist firebrand in the 1960s, Mr. Stockman, now 60, has had a weakness for ideas that fired his ambitions.”
“Mr. and Ms. Stockman, who is co-chairwoman of the Republican Majority for Choice, an abortion-rights group, say that friends have reached out to them”
Another post from earlier this year :
The Bush tax cuts are “unaffordable,’’ he says. Extending them would be a “travesty.” :http://www.freerepublic.com/focus/f-news/2602801/posts
BTW in a post earlier this year, not searchable by keyword or title, it is stated that the case brought against him ended in a deal costing him mega-millions, yet he minimized it saying that nothing had been proven.
About all that spending.
The Austrian school says that two things happened.
1. Through taxation, and even bond selling, the gooberment pulled money out of the private economy.
2. The gooberment, through laws, tax breaks, politics mal spent, ‘invested’ in old, poor, no to low return capital.( Think Willie Green and his neo-Stalinist desires to return to the glory days of big iron railroads. It’s not what people want, even if you pay them( partly ).)
3. The Federal Reserve company, which had socialist, central planning of the money supply( Think of your local, city municipal departments for quality operations. The Fed is the money municipality for the country ), kept through the Dot Com bust, and others, money too lax, and it was ‘invested’ in again, old, unimaginative, non economy desired things, like excess codos, housing.....
So, now we have a totally street-crack-junky cripple economy, all twisted and distorted. And what do the junk, crack, fiat paper Doctors suggest? More crack!
Right now, with spending( distortion ) at an all time record, we are shooting the last, dirty mattress, room by the hour stimulas. Mr. Junky is not getting off the floor.
The T.E.A party is the family saying no more money, no more handouts. Either the government wakes up to it’s addiction problem, or politics will be decided in the streets amongst the people themselves.
About all that spending.
The Austrian school says that two things happened.
1. Through taxation, and even bond selling, the gooberment pulled money out of the private economy.
2. The gooberment, through laws, tax breaks, politics mal spent, ‘invested’ in old, poor, no to low return capital.( Think Willie Green and his neo-Stalinist desires to return to the glory days of big iron railroads. It’s not what people want, even if you pay them( partly ).)
3. The Federal Reserve company, which had socialist, central planning of the money supply( Think of your local, city municipal departments for quality operations. The Fed is the money municipality for the country ), kept through the Dot Com bust, and others, money too lax, and it was ‘invested’ in again, old, unimaginative, non economy desired things, like excess codos, housing.....
So, now we have a totally street-crack-junky cripple economy, all twisted and distorted. And what do the junk, crack, fiat paper Doctors suggest? More crack!
Right now, with spending( distortion ) at an all time record, we are shooting the last, dirty mattress, room by the hour stimulas. Mr. Junky is not getting off the floor.
The T.E.A party is the family saying no more money, no more handouts. Either the government wakes up to it’s addiction problem, or politics will be decided in the streets amongst the people themselves.