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Spoken like a true Randian lemming. You forget to mention the demand/supply of the dollar globally, economic growth, labor & productivity, trader bets, interest rates.....
Using a closed form of currency (like the gold standard) ties conventional monetary policy's arms behind its back.
It's all relative. If a loaf of bread costs a nickel and you make $20 a week or if you make $2000 and it cost $5.00 its all the same.
It is harder to manipulate the supply to benefit the few the old way though.
Right. He (they) also said to invest in gold - how has that worked out?
Compared to when? It's value has doubled in the last 10 years.
Quote:
Originally Posted by Mag3.14
And here is the big chestnut; he advocates going back to the gold standard
Because a pure gold standard makes it harder to inflate the money supply. You won't understand that.
Quote:
Originally Posted by Mag3.14
I was more economically competent when I graduated high school..
Is that why he told us the dotcom bubble with it's boom bust was coming and you didn't? Is that why he told us the housing bubble with it's boom bust was coming and you didn't? Thought so.
Next
If I steal someone else's cow and the government comes and arrests me, who initiated this? Me or the government?
You initiated the theft. The government initiated the arrest. I'll skip to the end. At it's logical conclusion your argument results in hunger initiating theft, which is non-sensical, especially to a libertarian who believes in responsibility for one's own actions. Another way to look at it, no one forced the government to arrest you, the government has to have the initiative to arrest you, they certainly do not get that initiative from you. No one moves unless they themselves decide to move. So, suggesting the arrest by the government was initiated by you, when whoever is arresting you has complete control over their own movements and actions, is nonsensical. They had to decide to arrest you.
Last edited by billydaman; 09-15-2015 at 10:13 PM..
We don't need to "get out of debt" - if what you're suggesting is to pay down the national debt completely?
We will need to see the balance going the other direction at some point. We are never going to reduce spending to a point where current taxes at least get us to break even, let alone pay down.
Ultimately we will have to inflate our way out of this at the detriment of those who save.
We will need to see the balance going the other direction at some point. We are never going to reduce spending to a point where current taxes at least get us to break even, let alone pay down.
Ultimately we will have to inflate our way out of this at the detriment of those who save.
I agree with you then. Yes - we will need several strong but reasonable reforms to restore fiscal competence to US economic management. We can certainly run a surplus within the next few years and run our debt down slowly, very slowly. However, I don't think "inflating our way out of debt" is even something to consider. The military budget and operations should also be part of the equation.
We will need to see the balance going the other direction at some point. We are never going to reduce spending to a point where current taxes at least get us to break even, let alone pay down.
Ultimately we will have to inflate our way out of this at the detriment of those who save.
Why can't spending be reduced. Bring the troops home and stop waging war would lower spending tremendously.
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