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Editorial
See other Editorial Articles

Title: Starting A Conversation On The Economy With The Average Person
Source: [None]
URL Source: http://None.net
Published: Sep 12, 2010
Author: Le Chevaux
Post Date: 2010-09-12 16:20:06 by Horse
Keywords: None
Views: 93
Comments: 8

I get their attention by explaining to people that the real unemployment rate is 22% according to www.Shadowstats.com . 43,000 American factories have closed since 2001. For every factory worker there are ten or more other workers who were dependent on that factory being employed.

I tell them that we are close to the 1933 rate of 25%. I then say that we will have a much higher unemployment rate than in 1933 because farmers are never counted as unemployed no matter how poor and hungry they are.

We do have many more people employed by government but when the dollar collapses. The IMF told many foreign nations were told to fire half of their teachers, hospital workers and police. When, not if, the IMF tells us to make those cuts, our unemployment rate will hit 30% or more.

THEN I TELL THEM SOLUTIONS.

The Federal Reserve is a privately owned bank that has a license to create our currency. The FED pays the US Mint 3 1/2 cents to print a dollar, then they exchange those newly printed Federal Reserve Note dollars for US Treasury bonds. If the government printed Greenbacks or Treasury Notes as Lincoln and Kennedy wanted, we would have no government debt.

We have spent 13 trillion dollars on Bailouts due to Credit Default Swaps which are a hybrid between a derivative and insurance. If you buy fire insurance and have a fire, you can call the insurance company and get money from a fund they are required by law to set aside to pay claims.

But look at CDS. They are unregulated. When AIG sold CDS that went bad, there was no such fund required, we had to pass Bailouts to the tune of 13 trillion dollars. We have many off setting CDS so we the taxpayers are only liable for 600 trillion dollars in possible Bailouts.

No amount of budget cuts will pay for all those Bailouts and fraudulent Treasury loans.

All that is left is revolution. We need to take over the Federal Reserve, outlaw debt based currencies, cancel all Credit Default Swaps and regulate the stock market.

We might also consider ending all foreign wars that benefit Israel or some other nation but not the USA.

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#1. To: Horse (#0)

Starting A Conversation On The Economy With The Average Person....

Is like trying to teach physics to a dog.

"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Director, CIA 1973–1976

Nothing in the State, everything outside the State, everything against the State - Jan Lester, Escape From Leviathan

"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." - Frederic Bastiat

Good order results spontaneously when things are let alone. - Zhuangzi

F.A. Hayek Fan  posted on  2010-09-12   16:39:42 ET  Reply   Trace   Private Reply  


#2. To: F.A. Hayek Fan (#1)

i'm actually amazed lately at how many average folks that we speak to who are beginning to or who understand what's going on.

christine  posted on  2010-09-12   22:15:52 ET  Reply   Trace   Private Reply  


#3. To: christine (#2)

i'm actually amazed lately at how many average folks that we speak to who are beginning to or who understand what's going on.

I bet the Global Elite regret crashing the market, if they maintained a superficial boom, everyone would still be fast asleep, what we would tell them would fall on deaf ears.

Heat wave... forest fires... Russia...... yet no sign of JohnA! :-P

irishthatcherite  posted on  2010-09-12   22:30:32 ET  Reply   Trace   Private Reply  


#4. To: Horse (#0)

deleted

The relationship between morality and liberty is a directly proportional one.

Eric Stratton  posted on  2010-09-12   22:35:49 ET  Reply   Trace   Private Reply  


#5. To: christine (#2)

deleted

The relationship between morality and liberty is a directly proportional one.

Eric Stratton  posted on  2010-09-12   22:37:13 ET  Reply   Trace   Private Reply  


#6. To: Horse (#0)

God bless this missionary. I've given up talking to people (well 99.9% of them) as I really have learned to despise the human species. I hold my family and a few friends close and everyone else is on their own. I prefer to react to upcoming events in my own way, alone, and as needed.

Jethro Tull  posted on  2010-09-12   22:40:42 ET  Reply   Trace   Private Reply  


#7. To: irishthatcherite (#3)

at some point, it's out of their control, isn't it?

christine  posted on  2010-09-12   22:42:13 ET  Reply   Trace   Private Reply  


#8. To: christine (#7) (Edited)

Yes, you are right, they couldn't contain the inevitable economic mess. Perhaps what I should have said is that they probably are retrospectively wishing they didn't attempt a different economic model where we would have a stable but superficial boom, with an attenuated economic cycle. The result: an apathetic population who would kid themselves into thinking they have it good.

Heat wave... forest fires... Russia...... yet no sign of JohnA! :-P

irishthatcherite  posted on  2010-09-12   22:57:32 ET  Reply   Trace   Private Reply  


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