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Abe Porter's avatar

Bill:

Today I actually agree with you. Inflate or die. Our stupid politicians only care about themselves. We could be on the road to some recovery if we did a few things which, of course, is political suicide. It will take balls, big large ones. The real only way is to not spend more than you earn. The cuts can include:

1. Cut military spending in half

2. Get rid of the department of energy and education as a start

3. Term limits for everyone

4. Get rid of lobbyists

5. Get rid of all duplicative departments between the federal and state government.

6. Increase the age to get social security to 70 y/o. Begin with people who are 50 y/o now.

7. Have work for welfare except for the needy elderly and debilitated individuals

8. All immigrants will have to work with no welfare (most other countries in the world do this)

9. Get rid of all the ‘pork’ in the budget; much of this is bullshit payback to contributors in elections.

This is just the beginning of the cuts; I’m sure there are many other duplicative departments.

Most families would cut all unnecessary spending to stay above water. The US Government should do the same.

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Craig Whitfield's avatar

The Austrian School of Economics defines inflation as a general increase in the money supply. You can have an increase in the money supply without an increase in prices. When velocity is added to this toxic cocktail you get your price increases. The Federal Reserve and all Central Banks for that matter were specifically designed to create inflation. The Central Bank architects understood the Cantillion Effect very well. Named after Economist Richard Cantillion; The Cantillon Effect states that the first recipients of the new supply of money have an arbitrage opportunity. They can spend money before prices go up. The new fiat money is created at almost zero cost and given to specific parties, usually banks. Folks, this is all by design. For those just figuring this out; welcome to the party! By the way Richard Cantillion was born in 1680 :-)

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