Lucille
01-13-2009, 02:27 PM
The Coming $1.7 Trillion Deficit, and How It Will Buy Us All Unicorns and Handjobs (http://minx.cc/?post=281034)
All that Crap You Just Read? Forget It. The stimulus won't be $775 billion.
Some liberals are now agitating for a two trillion dollar stimulus, above and beyond bailouts and costs of war and normal (ever-bloating) costs of government.
Two. Fucking. Trillion. Additional dollars we don't have spent on top of everything else.
Ummm...
Ron Paul!!! (?)
This is a Spinal Tap "But this goes to 11" moment. The actual amount of wealth the nation possesses is not some infinitely flexible quantum. Printed money represents a fraction of the wealth of the nation (which the government can seize, basically, to put tangible value behind printed paper money).
You can print up all the new money you like, but this does not actually create more wealth. It merely makes each dollar represent a smaller fraction of that pile of wealth.
So, like the amp which goes to 11, you can make up any denomination you like but you're not actually increasing output.
And once confidence in the currency is damaged enough... well. Ask interwar Germany, ask Zimbabwe. Ask a dozen Latin American countries which turned on the printing presses to "satisfy" their debts.
The right is slowly pulling their heads out.
Let's go to that Hitler quote (http://www.ronpaulforums.com/showpost.php?p=1908135&postcount=2):
"The government calmly goes on printing these scraps of paper because, if it stopped, that would be the end of the government. Because once the printing presses stopped - and that is the prerequisite for the stabilization of the mark - the swindle would at once be brought to light. Believe me, our misery will increase. The scoundrel will get by. The reason: because the State itself has become the biggest swindler and crook. A robbers' state! If the horrified people notice that they can starve on billions, they must arrive at this conclusion: we will no longer submit to a State which is built on the swindling idea of the majority. We want a dictatorship."
All that Crap You Just Read? Forget It. The stimulus won't be $775 billion.
Some liberals are now agitating for a two trillion dollar stimulus, above and beyond bailouts and costs of war and normal (ever-bloating) costs of government.
Two. Fucking. Trillion. Additional dollars we don't have spent on top of everything else.
Ummm...
Ron Paul!!! (?)
This is a Spinal Tap "But this goes to 11" moment. The actual amount of wealth the nation possesses is not some infinitely flexible quantum. Printed money represents a fraction of the wealth of the nation (which the government can seize, basically, to put tangible value behind printed paper money).
You can print up all the new money you like, but this does not actually create more wealth. It merely makes each dollar represent a smaller fraction of that pile of wealth.
So, like the amp which goes to 11, you can make up any denomination you like but you're not actually increasing output.
And once confidence in the currency is damaged enough... well. Ask interwar Germany, ask Zimbabwe. Ask a dozen Latin American countries which turned on the printing presses to "satisfy" their debts.
The right is slowly pulling their heads out.
Let's go to that Hitler quote (http://www.ronpaulforums.com/showpost.php?p=1908135&postcount=2):
"The government calmly goes on printing these scraps of paper because, if it stopped, that would be the end of the government. Because once the printing presses stopped - and that is the prerequisite for the stabilization of the mark - the swindle would at once be brought to light. Believe me, our misery will increase. The scoundrel will get by. The reason: because the State itself has become the biggest swindler and crook. A robbers' state! If the horrified people notice that they can starve on billions, they must arrive at this conclusion: we will no longer submit to a State which is built on the swindling idea of the majority. We want a dictatorship."