wkmac
Well-Known Member
First, let's state the facts and that is in the last half of the 1990's the US gov't was making some headway in balancing budgets, showing potential surpluses and even possible signs that some extra paying down on the national debt. I personally think this was possible because of a divided gov't as no party or ideology had a monopoly on power to some extent. In that, both political sides can claim credit whether you like it or not.
In 2000', a single party gained political power in both legislative and executive and even with an impressive increase in total tax revenues during that time, (yes even in light of the tax cuts) spending (both defense and non defense) shot through the roof. The federal debt ceiling was raised multiple times also during this period and let's again be honest, the opposing party in many respects went along for the ride with little real opposition other than when it came to face time in the media. C-Span and Congressional Records research will clearly show just how 2 faced both political factions really are when it's time to step up to the plate.
We all know pretty much the history of the last 8 years so to speak and now today we find ourselves in a huge economic mess. The gov't, now under new management, is in reality taking the same approach as old management did and that is to borrow massive amounts of monies in the hopes of stimulating the economy. The previous management borrowed money and they didn't sit on it but intervened and selectively spent that money into the economy. In otherwords, they took money or in this case of borrowing, future money from productive people who earned it and transferred that money to who the gov't thought would best serve their interests. It's a fuedal serfism in modern clothng.
Now the new management is doing the very same thing except this time the money will go to whom the new management thinks will serve their interests the best but in either case, you have a gov't taking the future from productive citizens who are working and earning that money with THEIR labor and transferring to others who never earned it other than being better connected at the gov't level. This goes equally whether you are taking public welfare, corp. welfare or yes even defense spending.
I do believe the massive amount of money creation out of thin air that we've seen over the last 8 now add the 9th year is very much a bubble just like the real estate bubble was. You load to much air into a balloon and it will pop. I believe hyper inflation in the years ahead is a real risk and gov't would rather hyper inflate killing your wealth but it sames them to keep them in power and more importantly saves them to make their debt payments. Deflation however spoils the GDP to debt ratio, creates an over extention crisis for the gov't and they at some point would have to default on the loans, the people would wake up and the gov't as we know it would be thrown from power as it would have to re-organize itself.
All this said, the 4 minute video at the link below discusses the real potential of what's ahead and IMO makes the case that arguing where the stimulus money goes in really meaningless. The fact that the gov't is expanding the money supply furhter with more debt is the real issue at hand.
http://www.lewrockwell.com/blog/lewrw/archives/025319.html
The real legacy of the repulbican control of Washington in the future won't be Iraq's success or even Afghanistan, their legacy as the truth unfolds will be they were the biggest tax increasers of all time. The tax?
INFLATION! HYPER-INFLATION!
jmo.
But fear not red staters, the blue staters are working fast to try and overtake and knock you off that lofty perch. You see, they ain't that bright either!
Yes Over, I reframed from my potty mouth even though it's well justified!
In 2000', a single party gained political power in both legislative and executive and even with an impressive increase in total tax revenues during that time, (yes even in light of the tax cuts) spending (both defense and non defense) shot through the roof. The federal debt ceiling was raised multiple times also during this period and let's again be honest, the opposing party in many respects went along for the ride with little real opposition other than when it came to face time in the media. C-Span and Congressional Records research will clearly show just how 2 faced both political factions really are when it's time to step up to the plate.
We all know pretty much the history of the last 8 years so to speak and now today we find ourselves in a huge economic mess. The gov't, now under new management, is in reality taking the same approach as old management did and that is to borrow massive amounts of monies in the hopes of stimulating the economy. The previous management borrowed money and they didn't sit on it but intervened and selectively spent that money into the economy. In otherwords, they took money or in this case of borrowing, future money from productive people who earned it and transferred that money to who the gov't thought would best serve their interests. It's a fuedal serfism in modern clothng.
Now the new management is doing the very same thing except this time the money will go to whom the new management thinks will serve their interests the best but in either case, you have a gov't taking the future from productive citizens who are working and earning that money with THEIR labor and transferring to others who never earned it other than being better connected at the gov't level. This goes equally whether you are taking public welfare, corp. welfare or yes even defense spending.
I do believe the massive amount of money creation out of thin air that we've seen over the last 8 now add the 9th year is very much a bubble just like the real estate bubble was. You load to much air into a balloon and it will pop. I believe hyper inflation in the years ahead is a real risk and gov't would rather hyper inflate killing your wealth but it sames them to keep them in power and more importantly saves them to make their debt payments. Deflation however spoils the GDP to debt ratio, creates an over extention crisis for the gov't and they at some point would have to default on the loans, the people would wake up and the gov't as we know it would be thrown from power as it would have to re-organize itself.
All this said, the 4 minute video at the link below discusses the real potential of what's ahead and IMO makes the case that arguing where the stimulus money goes in really meaningless. The fact that the gov't is expanding the money supply furhter with more debt is the real issue at hand.
http://www.lewrockwell.com/blog/lewrw/archives/025319.html
The real legacy of the repulbican control of Washington in the future won't be Iraq's success or even Afghanistan, their legacy as the truth unfolds will be they were the biggest tax increasers of all time. The tax?
INFLATION! HYPER-INFLATION!
jmo.
But fear not red staters, the blue staters are working fast to try and overtake and knock you off that lofty perch. You see, they ain't that bright either!
Yes Over, I reframed from my potty mouth even though it's well justified!
!! 
. Are we number one in medical research? If not, why not? Never hear beans about that... Do we have enough natural resources to sell for a profit? (If we can ever get past the drilling B.S.)
