The value of money

Posted by $ blarman 12 years, 3 months ago to Philosophy
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"All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation." -- John Adams

So true. How many people vote for handouts because they don't have any idea about basic economics? How many high school students can balance a checkbook? How many can comprehend the effects and calculation of compounded interest - both for income and debt? How many understand the basic principles of supply and demand?


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  • Posted by mminnick 12 years, 3 months ago
    My paranoia coming out again but I believe that the powers that be in the country at all levels (city, county, state and National) all work to keep the monetary side of the business of government as clouded by arcane terms, convoluted concepts and new acronyms so as to keep the average person totally ignorant of what is going on.
    I have several advanced degrees, one in a branch of economics and I have trouble following what they are doing. To me it is a deliberate attempt to keep the public in the dark and "blissfully ignorant" of what they are dong. (I know, I repeat myself). This obfuscation really pisses me off.
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    • Posted by Robbie53024 12 years, 3 months ago
      I agree with you. The politicians call "baseline budgeting" zero when it really already has increases built in. Then they decry as "cuts" when the increase isn't as much as originally projected - and show graphs that indicate that it is a cut, but it is only a cut to what they really wanted, it is still an increase to the previous period.

      So too local municipalities that spend all their operating budgets, then steal from their capital budgets and ask the voters for bonding to fill in on incompetent budgets and fiscal foolishness.

      And don't get me started on the "SS Lock Box." A concept so blatantly false that any politician that speaks of same ought to be flogged. The excess funds that were collected in the past were spent long ago and nothing exists now but soon to be worthless IOU's. Who's going to pay back those IOU's? Our children. But to make the "pain" to the gov't less painful, they'll inflate the money, so that the real value of the IOU's will be next to nothing.
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  • Posted by $ rockymountainpirate 12 years, 3 months ago
    I'm surprised when someone can count change back to me. If the computer told them to give me $100 in change for a $10 bill, most would. I wouldn't accept it of course, but you get my point.
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