Join Our Newsletter!
Get the RSS Feed
Subscribe in a reader - Use any popular RSS reader to get Orthodox Biz news and content!
Get the Orthodox Biz Latest News by Email! New articles and content sent right to your email in-box as soon as they are published!
Featured Members
Recently Popular Articles
Blog Tags
Blog Archive
- December 2011 (1)
- July 2011 (1)
- April 2011 (2)
- March 2011 (1)
- November 2010 (4)
- October 2010 (7)
- September 2010 (2)
- August 2010 (1)
- July 2010 (2)
- June 2010 (4)
- May 2010 (6)
- April 2010 (4)
- March 2010 (9)
- February 2010 (8)
- January 2010 (11)
- December 2009 (5)
- November 2009 (2)
- October 2009 (6)
- September 2009 (2)
- August 2009 (7)
- June 2009 (2)
- May 2009 (16)
- April 2009 (6)
- March 2009 (8)
- February 2009 (6)
- January 2009 (3)
- December 2008 (2)
- November 2008 (3)
- October 2008 (3)
- September 2008 (1)
- August 2008 (3)
- July 2008 (1)
- June 2008 (12)
- May 2008 (1)
- April 2008 (3)
- March 2008 (8)
- February 2008 (7)
- January 2008 (4)
- December 2007 (7)
- November 2007 (3)
- October 2007 (11)
- September 2007 (3)
- July 2007 (1)
| Do What's Right! |
|
|
|
| Written by Peter and Helen Evans | |
| Thursday, 05 March 2009 | |
|
www.peterandhelenevans.com/Our current crisis is not a financial crisis. It was not caused by some complicated financial dealing that only a few 'experts' can understand. No, it was caused by a whole lot of people doing things that they knew were wrong. Our current crisis is a moral crisis. As tempting as it might be, we cannot blame this mess on President Obama. Until recently he was just another do-nothing Senator. However, the budget legislation he is currently ramming through congress - like pork through a sausage grinder - will not help. In fact, it will make things worse. Peter and Helen Evans are Orthodox speakers and authors. More of their writings can be found at their Website http://www.peterandhelenevans.com/ Comments (1)
![]() Write comment
|
|
| Last Updated ( Friday, 06 March 2009 ) |
| < Prev | Next > |
|---|


















[Do What's Right!]
I would agree with that, but we have another issue at this point. The recession in the early 80's was only ten years removed from the end of the modified Gold standard. The federal deficit was naturally kept in check during the period in which the Dollar was convertible to Gold. By the early 80's, we had begun to pile on debt but the levels were not critical - yet. They have become so.
While cutting taxes is vitally important, the amount of GDP consumed by government spending has to also shrink, or the pressure on the currency of too much government debt in a fiat monetary system is going to destroy the Dollar.
So the solution is a cut in overall spending, which enables a reduction in spending and a cut in taxes and a reduction in government borrowing. (Preferably to zero.) At that point, we have the beginnings of a solution.
The Obama Plan is essentially the Bush Plan, only with a lot more zeros on the end of the numbers. Borrow, borrow, borrow and spend, spend, spend. Even if you cut taxes broadly, the net result will inevitably be hyperinflation.
Having lived through high (though not hyper) inflation in Poland during the 90's, I can tell you that it is not a pleasant experience.