What defines a successful life? Did we try our best? Were we honest? Did we serve? Did we continue growing? Or did we settle, conform, cower, take the easy road? None of us can judge one another, and we don't need to. We can well judge ourselves. We know better than anybody what we are made of. We are the most qualified to know whether our lives are a success or not.
Misguided and historically illiterate Keynesian economists like Nobel laureate Paul Krugman and fed chair Ben Bernanke make the classic mistake of cooking up short-term fixes while ignoring long-term consequences. And this time their solution is so beyond reckless that even the likes of Bernie Madoff would be humbled. Now, given that they both appear to be a bit touched, let's go easy on them.
They believe that the way to solve a massive, unprecedented debt crisis and structural growth problem is to take on more debt - lots more. And when the bill comes due for the old debt, the solution is to borrow from new investors to pay the older ones. Sound familiar? Again, just ask Mr. Madoff what that is. And when the treasury can't find anyone left to borrow from, the newest solution is to just print money out of thin air and lend it... to oneself. We have a name for that also: counterfeiting. And all the while let's manipulate interest rates to 0% just to make sure we annihilate all savers, senior citizens, and the entire middle class, and provide free money 24/7 to the most corrupt banks on earth. Good job voters. You've been had. And you deserve what you get.
By the way, in case you haven't figured it out, bankers are takers, not makers. The only thing they make is making off with not only your take-home dollars, but your tax dollars as well. You pay taxes to the treasury who pays interest on the money that the fed and its member banks created out of nothing and lent to the treasury to use for all sorts of immoral, hegemonic nonsense. So you pay taxes for the privilege of using federal reserve debt notes that, by design, lose value the longer you hold them.
As absurd as all that sounds on its face, you will also be able to find a slew of puppets on mainstream news outlets who manage to cleverly convince you that if you don't believe in and happily accept this lunacy, this fraud and scam that the treasury, the fed, and the banks have going, then you are most certainly an idiot. Collectivist puppets love to call people idiots. If you don't cover your ears to the gigantic sucking sound the government vacuum makes as it sucks all the productive capacity it possibly can out of the real economy, then you are a moron. Great argument, huh? The argument goes something like this,
"What a moron!" Or "OMG, you are such an idiot!"
At any rate, addicts are Keynesians too. The believe that if they can just have more of something that doesn't work, they'll be able to solve their problem. If I can just get tons of OC 80s, then I'll be able to quit, or at least function properly. We all know what happens then - I wind up flat broke, begging for more, or in a coffin.
Addicts also think they should be taken care of and given money, jobs, privileges and blessings without having to lift a finger. Just observe the behavior of any addict to see how dangerous this frame of mind is. And as we all know from studying codependency and enabling, addicts who depend on others become crippled - more crippled than they already are. Eventually they can do nothing on their own and soon they become zombies, without a single authentic thought or idea. Those who give to you without you earning it are your slave masters. To quote Hayek, this is the "road to serfdom" my friends. We think free stuff saves people. In fact, it enslaves them.
There are takers and there are makers. If you're an addict or an alcoholic, you are a taker. So ask yourself if that's what you truly want to be. Because if you truly want to be a taker, than do us all a favor and skip the emergency room next time you have a gran mal seizure from speedballing.
"Never in history has too much deficit spending, debt, and currency debasement been solved by more deficit spending, debt, and currency debasement." - M. Maloney
Over a trillion dollars of student debt and not a single institution offers financial IQ.
"The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. Deficit spending is simply a scheme for the confiscation of wealth.
The welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. A substantial part of the confiscation is effected by taxation. But the welfare statists were quick to recognize that if they wished to retain political power, the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money, by issuing government bonds, to finance welfare expenditures on a large scale.
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold." - A. Greenspan, 1966
God, help us...