If you realize both parties in Washington think that our money is theirs and you trust them to do the wrong thing, this list is for you.
If you think there is a Santa Claus that has some magic easy cure for the economy; someone who is going to get elected in Washington and fix everything just by cutting your taxes, investing (more government spending) a few trillion more we don't have and will never have, and who will just command some countries to lower their prices and others to raise their prices all to suit your best interests, then this list is not for you.
You can read past posts by clicking on : schifflist , I try to tag all relevant threads with the keyword : schifflist.
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The Austrian Economics School’s Commandments plus :From : link
1) You cannot spend your way out of a recession
2) You cannot regulate the economy into oblivion and expect it to function
3) You cannot tax people and businesses to the point of near slavery and expect them to keep producing
4) You cannot create an abundance of money out of thin air without making all that paper worthless
5) The government cannot make up for rising unemployment by just hiring all the out of work people to be bureaucrats or send them unemployment checks forever
6) You cannot live beyond your means indefinitely
7) The economy must actually produce something others are willing to buy
8) Every government bureaucrat should keep the following motto in mind when attempting to influence the economy: “First, do no harm!”
9) Central bank-supported fractional reserve banking is an economically distorting, ethically questionable activity. In particular, no government should ever do anything to save any bank from the full consequences of a bank run, no matter what the short-term consequences.
10) Gold is God’s money.
Add mine:
1) Businesses don't hire workers just because of demand for products or services, they hire because it makes them money. Sorry to have to state the obvious.
2) Government spending without taxing is still redistribution
3) Taking one man's money and giving it to another is not a job.
4) Paul Krugman and Bernake have been wrong about everything, as well as the other best and brightest Keynesian's who have been fixing our economy for over a decade.
5) Republicans in the minority (esp out of the White House) act like Republicans, in the majority they act like Democrats .
Equity bubble rules:
1)If something goes up too fast, it is going down faster,
2) By the time it looks like everybody is getting rich, it’s too late, stay out!
3) To get rich you have to get in early start of recovery and get out at the first really 'bad' news, and ignore the experts that claim that they will stop the next crash(our buddy Bernake.).
4) Don't invest money you will probably need, or worse money you don't really have.
Here's someone who will never get elected to public office, but he hits the nail on the head.
good article.
thanks.
I hadn’t really considered this before:
“By putting many low skill workers (such as teenagers) below the line, the minimum wage prevents crucial on the job training, which could provide workers with the experience and skills needed to earn higher wages.”
Not only does this lock teenagers out of gaining experience and skills, but also responsibility and respect for property. So the minimum wage creates idle teenagers with time for mischief and who have no respect for responsible behaviour and no respect or understanding of what it takes to earn money. Sounds almost like the minimum wage breeds criminals.
Before the 16th Amendment, and outside of wars, the federal government funded itself on excise taxes and imposts.
These taxes were paid by wealthier consumers. The average man could go through life with nary a dollar taken from him by the federal government. We know the path to economic and spiritual renewal.
Hussein and his rodents are on the ropes. When we take the two elected branches next year, we must exercise power in as bold a fashion they did during the 1930s, 1960s and 2009-2010.
ping
Thanks for the mention at #8.
Schiff is right on the money. The reason we are not getting more jobs is because the government is doing everything wrong and killing the job market. The trillions they are throwing at the very problem they created are a hinderance.
Schiff’s whole testimony was poignant and right on target (as would be expected from Mr. Schiff), but I think the racism/discrimination nonsense needs to be dispelled as is done here.
But will the true racists in Congress listen?
Actually it is a lot worse than that. I know a lot of sole proprietorships who would hire people if they could just pay cash for labor performed. But the paperwork, overhead and tax complexities are such a burden that it is simpler to forego the extra profit.