Thursday, May 20, 2010
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Paul Krugman’s column, which is on the Times site tonight, but will be in print tomorrow, reminds us that the danger is not the deficit — not in the short term, anyway — but the likelihood that we are entering a long period of economic stagnation, a “lost decade,” and that we are not doing enough to prevent it.
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Remember the Great Depression was caused by the Gooferment and it’s Smoot Hawley tariff.
This one was caused by CRA, Freddie + Fannie, repeal of Glass Stegal, the FED, the SEC, the FDIC, and the FTC. (imho in that order) (p.s., blaming Wall Street is like blaming the insane in the asylum. Corrupt gooferment makes this all possible.)
The answer is freedom; not gooferment. How’s all that deficit spending worked out for Japan? How did socialism work out for the old Soviet Union. Remember Thatcher’s quote on “other people’s money”?
No, we pull ourselves back from the brink by tough love. Sure it’s going to hurt. But, do we have the right to endebt future generations?
imho, we need a national CPR, fast comprehensive and violent:
(1) End the various “wars”. Bring all the boys and girls home.
(2) End the psuedo War on (some) drugs. Pardon ALL non-violent drug offenders.
(3) End all restrictions on small businesses. (License to braid or cut hair’ please don’t make me barf!) (Dollar van prohibitions.)
(4) Zero corporate, estate, and income tax. Return to constitutional tariffs and excise taxes.
(5) Start selling off the “national assets”.
(6) Return — with a forty year plan — education costs to the parents.
(7) End welfare — corporate and personal — with an appropriate transition period.
(8) End the Social Security ponzi scheme [Really a misnomer. It's Ponzi like. Those defrauded really had no choice about participating.] with a Chile-like solution to give folks time to adapt.
(9) Open the borders with an expedited identification scheme. (i.e., here illegally? come down and get your picture taken and finger prints checked and dna sample! Here’s your new green card.) (i.e., want to come here. post a bond for your return trip. no communicable diseases. pic, finger, dna. welcome to the land of opportunity.)
(10) Re-institute Constitutional money in gold and silver. Figure out a transition plan from FED to gold.
Then stand back and watch this economy take off. You’ll have growth and civility that is unprecedented.
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