United Liberty

We all know the government is spending freely…. but do we really understand how much? Can we truly put things into proportion? I hope this video helps do just that.

H/T: Jason Pye

Naturally a recurrent theme of this lecture was monetary policy, specifically having to do with the dollar’s spiral toward hyper-inflation in the midst of the current economic collapse.  Schiff stressed that sooner than later the rest of the world, more importantly those still buying our debt would wise up to our inability to repay those fiscal obligations.  He told a short story about a wily old man in a certain neighborhood who had hoodwinked the neighborhood kids into vying for the job of painting his fence.  He related the metaphor by surmising, “We’ve got the world painting our fences, as if they don’t have their own fences to paint.”  Essentially, he said the way it is now, we get all the stuff and they only get the jobs.  He then fittingly asked, “What good are jobs without stuff?”  In short, we are barreling straight toward a currency crisis.

Part of our school day today included watching a DVD of the classic School House Rock cartoons that many of us grew up watching on Saturday mornings.  I was delighted when, after watching the one that talked about the wonderful opportunity we all have to pay our fair share of income taxes on April 15th, my daughter exclaimed, “Mom, this is wrong.  They’re saying that taxes are good!”

Music to my ears…

However, I found the next video interesting- Tyrannosaurus Debt- which compared the national debt to the appetite of a rather sizable dinosaur.  What surprised me was the direct correlation made between wartime and the increase of debt.

Classic parody of an infomercial offering common sense we could all benefit from.

This is a great video follow up to the full-page ad CATO published listing hundreds of economists who don’t believe that a “stimulus package” is the best option for American taxpayers.

Governor Sanford cautions America to reject the stimulus package, citing data from the Congressional Budget office that claims that a slower growth rate in the future will result from the spending bill currently being pushed by Obama.

Though it seems to fall on deaf ears, Dr. Paul continues to drive home the fact that central planning does not work and that it’s time to liquidate the bad debt.

Since the middle of the 20th Century, when the Federal Reserve started compiling this measurement of non-borrowed bank deposit reserves there has been little short term deviation from its normal levels. Long Story short - Bank reserves, other than those achieved through loans (usually FED funds market, or discount window) have evaporated.

H/T Fincial Ninja.