Donald Trump – Modern Day Walpole?
Posted by freedomforall 6 years, 4 months ago to Government
"can The Donald make good on his promises to the outraged voters who voted him into office this past Election Day? Can he restore economic growth, political legitimacy, tax justice, immigration sanity, and American greatness? He has taken a promising step with his new tax plan, say many conservatives. But in this writer’s view it is miniscule reform in light of what is really needed.
It is highly doubtful whether the GOP has fashioned something robust enough to genuinely restore economic growth. Our economy is suffering from monumental ideological fallacies plaguing us that stem from Keynesianism in the colleges, the Congress, the Federal Reserve, the Wall Street banks, and the media."
"Tax cuts necessitate spending cuts. Without them deficits will explode as sure as mushroom clouds will shoot skyward from nuclear blasts. Reagan’s brilliant Director of the Office of Management and Budget, David Stockman, has attested to this truth over the past several decades with searing logic in The Triumph of Politics: Why the Reagan Revolution Failed (1986) and The Great Deformation: The Corruption of Capitalism in America (2013). Unfortunately his message is ignored by an obtusely corrupt Congress. Thus the National Debt for our country will continue to grow unless our politicians bring their spending incontinence under control when seeking to reduce oppressive taxes from the federal government."
"Our conclusion is that economic growth via supply-side economics is not “healthy growth” if deficits and the total debt of the country explode in the bargain. Laffer’s supply-side economics is not the answer to Keynes’ demand-side economics. Both lead to massive deficits. The answer is to restore a free market, and the economy will produce constant and substantive growth without the need to stimulate the demand side or the supply side."
It is highly doubtful whether the GOP has fashioned something robust enough to genuinely restore economic growth. Our economy is suffering from monumental ideological fallacies plaguing us that stem from Keynesianism in the colleges, the Congress, the Federal Reserve, the Wall Street banks, and the media."
"Tax cuts necessitate spending cuts. Without them deficits will explode as sure as mushroom clouds will shoot skyward from nuclear blasts. Reagan’s brilliant Director of the Office of Management and Budget, David Stockman, has attested to this truth over the past several decades with searing logic in The Triumph of Politics: Why the Reagan Revolution Failed (1986) and The Great Deformation: The Corruption of Capitalism in America (2013). Unfortunately his message is ignored by an obtusely corrupt Congress. Thus the National Debt for our country will continue to grow unless our politicians bring their spending incontinence under control when seeking to reduce oppressive taxes from the federal government."
"Our conclusion is that economic growth via supply-side economics is not “healthy growth” if deficits and the total debt of the country explode in the bargain. Laffer’s supply-side economics is not the answer to Keynes’ demand-side economics. Both lead to massive deficits. The answer is to restore a free market, and the economy will produce constant and substantive growth without the need to stimulate the demand side or the supply side."
The dollar does not have to be “the world’s medium of exchange” to have value as a currency. All I said earlier was, “The U.S. dollar’s value derives from the fact that it is the official medium of exchange and unit of account within a large, productive and reasonably stable economy.” The same is true of the British Pound, the Euro and the Australian and Canadian dollars.
And if a dollar bill is an IOU, why would you need another IOU (government bond) to “back” it? This wouldn’t strengthen the guarantee, since both guarantees are issued by the same government. You say that a nation’s fiat currency becomes worthless when the nation collapses, and this is true; but any bonds “backing” this fiat currency become worthless at the same time. So what purpose is served by a government issuing bonds and taxing its citizens to pay interest on these bonds – interest that today consumes one-third of the federal income taxes we pay?
What guarantees the worth of a dollar bill?
The Faith that the issuer will honor it!
What guarantees the worth of an I.O.U.?
The Faith that the issuer will honor it!
Tell me what "Fiat Currency" is worth when a nation collapses; Let's think 18th Century France and the French Revolution, or Germany at the end of the Weimar Republic in 1933, Shall we bring up the Confederation of States in 1865?
You claim the value of the U.S. Dollar is due to it being the World's "medium of exchange"? that began in the late 1940's and right now China's Renmimbi is poised to be the World's medium of Exchange; what happens then to the U.S. Governments I.O.U.?
Go do some studying...
It’s true that fiat money is inferior to money backed by hard assets. But from a conservative or libertarian perspective, pure or “unbacked” fiat money is much less destructive to the economy and to personal liberty than the “debt-backed” fiat money we use today.
Although inferior to a gold-based currency, fiat money does in fact have real value. The U.S. dollar’s value derives from the fact that it is the official medium of exchange and unit of account within a large, productive and reasonably stable economy. It does not derive from the fact that $20 trillion in real U.S. government IOU’s are “backing” the nation’s currency.
ANSWER THIS HONESTLY:
You owe $100,000,000.00 and you only bring in $600,000.00 per year, can you pay it off with an I.O.U. of $100,000,000?
The reason I ask, is because as you know whether it was a Weimar Mark or a U.S. Dollar Bill... all they really are is an I.O.U. because they are not backed by anything but the faith the giver will honor it.
Now, when you print a bunch of money without any backing... it DEFLATES the existing currencies worth...which means what you gave as an I.O.U. isn't worth what you promised to pay originally, hence you are not honoring the original I.O.U.. This method is without a doubt just a 'ponzi scheme' make to screw the one getting the I.O.U.
Go try to save your mistake on the economy with someone else... If you want to be honest and move forward trying to create an actual plan I would be glad to continue conversing.
Til then... Good Bye
Whether they can work or do not choose to work, it is the same SOME ONE HAS TO PAY FOR THEM... Do you have children? I have 5, if I didn't pay for their food, clothing, education and the room over their heads they would have died. The money spent on them as well as every other person no fully funding themselves comes from those that work... It just so happens I am one of those "workers".
Freedom, if you just look for holes in the narrative, I guarantee you will find holes... even in the Holy Bible or U.S. Constitution... that is the lesson learned early on in design when you are asked to write up the proper way to make a PB & J sandwich; that design class helped a lot in my Engineering degrees Electronic/Biomedical.
We have to expect the reader will have the basics on this blog... or the blog will not have the storage space to do one actual post.
God bless Freedom...
What is your "unbacked Federal Currency" other than the same type of "unbacked currency" the Weimar Republic and the Hungarian governments used?
Look at the Historical timelines and the timing of these issues... Realize that economies don't cave the moment the revenue or wealth of the government disappears.
Now please explain how 105,862,000 can pay for their expenses and the expenses of 217,238,000 others... If you look at it rationally you will see how the Federal Debt is climbing as fast as it is; the Ponzi Scheme set up over the last 100 plus years is coming apart at the seams.
We can either tighten it up and accept the hardship and emotional issues it will cause or we can just continue and watch the Republic dissolve.
I am a retired Marine and Military Benefits are not the same thing; it is part of the serving your republic that others didn't do. I personally stay away from the Healthcare, I lost too many family/friends to bad care.
The biggest problem is everyone [except those that served their republic in Active Duty as military service members] 'believes' they are owed or should get things from the government when it is not the way the Federal Government was designed.
If President Trump comes up with a catchier name...I'll start using that one.
The U.S. today has one thing in common with postwar Germany and Hungary: the presence of a government debt that we are increasingly unable to pay back. We can continue “kicking the can down the road” as our national debt continues to become more unmanageable, or we can begin to gradually pay it down. Given our present political and economic circumstances, the only way we can accomplish this is by breaking the link between the federal deficit and the national debt.
The national debt does not really back our money anyway. See www.fixourmoney.com .
Just to try and enlighten those that read this, I can see you don't care, ILLEGAL is a type of CRIMINAL... no one should be awarded for breaking laws.
I will wait, with amusement, your response Peter... tell Tinker Bell I say Hi!
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