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Mar 05
2009
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Do What's Right!Posted by Peter and Helen Evans in Untagged   |
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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.
The financial meltdown was caused by the failure of credit markets. When you boil it down, credit is really just another name for trust, which is another name for a mortgage, too. As long as we trust that our debtors will pay us back, the system works better than anything the world has ever seen. But, as soon as doubt and uncertainty replace trust, the whole structure falls down. That's where we are today.
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.
Although you'll never hear this from the White House, the recession of the early 1980s was worse than this one is now. And it was cured by cutting taxes. What Pres Obama is doing will increase taxes on everybody. What do you think cap & trade is? It's a tax on carbon, which powers most of our economy. His plan is to economically cripple the American people so that we will become "victims." When the free market is killed, we will be forced to submit to the enormous government he's creating.
Socialists do not judge success in terms of money. They do not care much about the condition of the economy. Oh sure... they say they do. They say every expansion of government is "for our own good." The way socialists know that they are succeeding is when they have control over society. I guess we didn't really believe candidate Obama on the campaign trail when he said he wanted to "re-make" America. That sure is what he's doing now.
So, what's a poor (and growing poorer) boy to do? We have to stop doing what's wrong and start doing what's right. It is wrong to vote for politicians who support policies that will send this economy down the toilet into bankruptcy. It is right to vote for politicians who support policies that will reduce government spending and reduce taxes. And it is up to us to make sure that our elected representatives do what's right.
Forget about this "bi-partisan" crapola, you guys. Just smarten up and do what's right!
Peter and Helen Evans are Orthodox speakers and authors. More of their writings can be found at their Website http://www.peterandhelenevans.com/
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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.