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Paper Money Madness: Inflation-Fueled Economic Growth Does Not Indicate That An Economy Is Getting Stronger

If the U.S. economy "grows" by 4 percent in 2011, but by the end of the year we are paying $3.00 for a loaf of bread, $4.00 for a gallon of milk and $5.00 for a gallon of gasoline are the American people going to be better off economically or worse off?  The answer is obvious, but most "experts" in the mainstream media continue to insist that as long as U.S. GDP is increasing and as long as the stock market is going up that our economy is improving.  But that is just not the case.  If the amount of money in circulation was relatively constant, those measurements would be helpful, but unfortunately the U.S. government and the Federal Reserve are dramatically pumping up the money supply right now.  Just because larger amounts of paper money are changing hands does not mean that the economy is getting stronger.  Of course GDP is going to rise when there is much more money in the system.  But economic growth that is fueled by inflation is just an illusion and it is not an indicator of economic health at all.

A very basic example shows this very easily.  Imagine if suddenly everyone in the United States had the amount of money they owned instantly doubled.  Would the U.S. economy be twice as healthy?  Of course not.  Very quickly prices would rise to meet the new level of money.

Well, in the United States today our "authorities" are pumping massive amounts of new dollars into the system.  That is one reason why so many people are so upset about the Federal Reserve's "quantitative easing 2" program.  The Federal Reserve is creating money out of thin air and pumping it into the financial system.  The first people that get their hands on this new money are Wall Street banks and major financial institutions.  The idea is that eventually all of this new money will "trickle down" and will help average Americans, but that just does not seem to be happening.

In addition, when the U.S. government goes into more debt, this also creates more money.  The U.S. government has accumulated far more new debt during the last two years than it ever has in any other two year period. When the U.S. government spends all of this money that it borrows it introduces a massive amount of new money into the system.

There are many ways to measure the money supply, and one of the most basic (M1) is displayed below.  As you can see, thanks to the actions of the Federal Reserve and the U.S. government, the money supply is rising at an almost exponential rate at this point.  The money supply has grown rapidly at various points in the past, but what we are witnessing now is really unprecedented.....

So what happens when you have a lot more money chasing roughly the same number of goods and services?

Well, you have inflation of course.

Are our "leaders" alarmed by any of this?

No, in fact they plan to pump up the money supply even more.  The Federal Reserve seems content to continue their "quantitative easing" program and Barack Obama is proposing all kinds of new federal spending which will be funded by more debt.

So the truth is that we had better have some significant "economic growth" during 2011.  If this amount of money is pumped into our financial system and we don't see any "economic growth" then that would be an indication of a major league economic breakdown.

But instead of looking at things rationally, many mainstream economists are hailing the fact that the U.S. economy may grow by a few percentage points in 2011 as a sign that happy days are here again.

According to a recent article in USA Today, economists are becoming increasingly optimistic about 2011, and the consensus seems to be that economic growth in the United States will fall somewhere between 3 and 4 percent....

Economists are more optimistic about the recovery than they were just a few months ago, significantly upgrading their forecasts for 2011 as consumers open their wallets.

Unfortunately, the irrational optimism is not limited to just the United States.  As global leaders prepare to descend on the annual meeting of the World Economic Forum in Davos, Switzerland many mainstream media outlets are declaring that the worldwide financial crisis is over and that we are now entering a glorious boom time for the global economy.  For example, the following is how one recent article from Bloomberg opened....

For only the third time since the Industrial Revolution, the world may be entering a long-term growth cycle that will lift all economies simultaneously, driving bond yields and commodity prices higher.

People don't seem to realize that just because more money is changing hands and just because financial markets are going higher that it doesn't mean that the economic situation is improving.

If a rising GDP and a soaring stock market truly were strong indicators of economic health, then Zimbabwe would have been one of the strongest economies on the planet over the last 10 years.

Inflation changes everything.

Unfortunately, official U.S. government inflation figures have become so manipulated that they are of basically no value at this point.  Whenever one particular category starts to experience significant inflation, the U.S. government simply removes that category from the inflation calculations.  Over the past 40 years the way that inflation is calculated has been changed way too many times.

If you really want to get a good idea of what is happening with inflation, a good thing to do is to look at the basic commodities that everyone uses around the world.

For example, according to the United Nations, the global price of food hit an all-time high in December.  Not only that, but almost every major agricultural commodity that you could possibly name experienced a double-digit percentage increase in price during 2010.

In addition, the price of oil is steamrolling towards $100 a barrel again.  In fact, many analysts are convinced that the price of oil will set a new all-time record in 2011.

A recent editorial in Newsweek was not optimistic that we will be able to stem this rising tide of inflation....

The final dam to stopping $150-a-barrel oil and $4-a-gallon gas is being breached, as financial regulation continues its daily erosion into worthlessness.

So what is the answer to these problems?

Well, according to many of the top "economic leaders" in the world, the solution is to create even more money and even more credit.

Between 2000 and 2009, the total amount of credit in the world grew from 57 trillion dollars to 109 trillion dollars.  Now the World Economic Forum says that we need to grow the total amount of credit by another 100 trillion dollars over the next ten years to "support" the anticipated amount of "economic growth" around the world that they expect to see.

Does that make any sense?

We have to double the amount of debt in the world so that the world economy can grow?

But this is what the world economic system has become at this point.  It is a never ending debt spiral that requires constantly increasing levels of debt and paper money.

That is a huge reason why precious metals such as gold and silver are becoming so popular.  Investors are becoming sick and tired of the constantly inflating paper currencies.  Gold and silver are both very much in demand right now.  For example, the Chinese are voraciously gobbling up gold right now.  Also, the Central Bank of Russia has announced plans to purchase 100 metric tons of gold per year in order "to replenish the country's gold reserves".

But what about average Americans?  What is going to happen to them in a world where prices are rising rapidly?

Well, the answer is very simple.  In an environment of rapidly rising prices, the standard of living for most Americans is going to go down.

In this economic environment, employers are simply not going to increase salaries fast enough to keep up with the rising price of food, gas and health care.

In addition, there are tens of millions of Americans that are on fixed incomes.  As prices rise, those fixed incomes will simply not go as far.

So the truth is that most Americans are going to find their finances stretched even thinner in the months and years to come.

Inflation is like a thief.  When prices rise it means that the purchasing power of all the dollars that we have accumulated goes down.

But for our politicians, inflation can be a helpful thing.  They can take inflation-fueled "economic growth" numbers and claim that their policies are working and that the economy is becoming healthier.

A year from now when these jokers trot out their "economic growth" numbers and yet the cost of nearly everything you buy has increased dramatically, don't you believe their propaganda.

Yes, U.S. economic numbers are most likely going to experience a little bit of inflation-fueled "growth" in 2011.

But it will not mean that our economy is improving.

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  • The Beast

    an economic growth of 1% with inflation of 5% means an adjusted economic growth of minus 4%… who are they kidding?

  • El Pollo de Oro

    I am a firm believer in the power of positive thinking.

    I am positive that the former USA (now The Banana Republic of America) has turned into a Third World horror movie.

    I am positive that the REAL unemployment rate in the BRA (not bogus government figures) is higher than 20%.

    I am positive that Gerald Celente is right when he says that the BRA is entering The Greatest Depression—in other words, a depression that is even more severe than the Great Depression of the 1930s.

    I am positive that the Republikkkans and Democraps are both corrupt servants of the neo-feudalist robber barons who turned the former USA into the BRA (notable exception: Ron Paul).

    I am positive that Alex Jones is right when he says that we are becoming more and more of a police state.

    I am positive that a police state will not reduce violent crime, which will become worse and worse as the BRA’s rotting economy gets worse and worse.

    I am positive that that the American middle class is on life support.

    I am positive that an epidemic of brutal kidnapping like ones finds in Venezuela will plague the rotting, decaying, collapsing BRA.

    I am positive that neocon bastards will lie us into another war, which will only increase our deficit and make our already anemic currency even weaker.

    I am positive that things will get really nasty when the BRA dollar goes into cardiac arrest. In the words of Signore Celente, “our digital currency isn’t worth the paper that it’s not printed on.”

    I am positive that when people have lost everything and have nothing left to lose, they lose it (to quite Signore Celente again).

    I am positive that radical Christian reconstructionists (the BRA’s version of the Taliban) will be carrying out terrorist attacks against anyone who doesn’t share their warped perversion of Christianity.

    I am positive that The Banana Republic of America is in a whole lot of trouble.

    There. How’s that for the power of positive thinking? Just call me Polyanna.

    God help The Banana Republic of America.

  • Lennie Pike

    As the author says – the first people that get their hands on this new money are Wall Street banks and major financial institutions – then it is supposed to trickle down to the Average American but does not.

    This money used to trickle down somewhat before the housing bubble, then during the housing bubble it spewed but we now know that the only reason it did spew was for the benefit of the Banksters at the taxpayers and country’s expense – it was the biggest crime of theft in the history of the world.

    None of it trickles now, but even so there is still a high rate of inflation and the reason is that because of the uncontrollable amount of Federal, State, County, and City government debt and the ticking derivative, municipal bond, student loan, etc. time bombs, these people who get their hands on the money first have only one investment option which makes sense and that is commodities because they know there will be hyperinflation due to debt.

    When that much money goes into commodities, hte price of commodities rises and it causes high inflation for the necessities of life that the average American spends almost 100% of his income on, and enriches greatly people who spend a very small percentage of their incomes on those necessities.

    So now people who never had to worry about going hungry, homeless, and walk instead of ride – are causing the ones who did have to worry about those things to go ahead and experience them. The part that’s hard to understand is that these hungry, homeless, walkers were the ones producing the food, homes and automobiles for the ones who get the money first.

    So now we have high inflation and and the average American doesn’t even get to handle any of the money like he used to when there was high inflation in the past.

    So the average American gets screwed twice as hard as he used to when there was high inflation while the Elite are greatly enriched by the newly created money no matter how much is created – that is as long as Americans keep supplying their needs through their labor, and exporting countries keep exporting. Both will cease very soon.

    The sh*t should have already hit the fan but there is something wrong with Americans now they have changed drastically. These criminals that are controlling and pillaging the country know that Americans won’t do anything to stop them because it has already been proven to them that they won’t. Why would they stop? They are only going to increase their aggression. Expect a militarized police state and 100% loss of freedom for you but not for them soon – because they know you will allow it.

  • Mariposa de Oro

    “I am positive that radical Christian reconstructionists (the BRA’s version of the Taliban) will be carrying out terrorist attacks against anyone who doesn’t share their warped perversion of Christianity.”

    What evidence do you have for this statement? How many are there of these people? Of all the Christians I’ve known in my nearly 50 years of life, NOT A SINGLE ONE would advocate this sort of thing.

  • http://www.planorperish.com/ Gutter Economist

    New money is not trickling down from wall street to main street because wall street and major financial institutions are investing this money outside of the USA where they can get a better return on investment.

    Much of our inflation is the result of speculators rather than increased demand. Consider the Baltic Dry Index.

    http://www.planorperish.com/?p=3972

    Money printing creates economic growth only because our government treats debt expansion as economic growth. Consumers are supposed to be fooled by this and resume their reckless borrowing (more economic growth) and spending.

  • William

    You are correct on GDP growth and inflation. Inflation directly affects GDP growth as GDP is measured in dollars. That is one of the major reason the BLS lowballs inflation. Another reason is to reduce or eliminate a COLA for those who receive Social Security. The federal government continues to understate inflation.

  • Michael2

    Another angle to consider about the financial elite, one which has been around for along time is eventually infighting for more power becomes their preoccupation. Someone always wants to be top dog and the ruthlessness that once was directed at us little people, they will turn on each other. These types always end up feeding one each other because there will be no meat left on the carcasses of us little people. We have already seen Goldman Sachs emerge from what I allege is this type of infighting. There will be more infighting though, it will produce more leaks, like the latest whistle blower information given to Julian Assagne alleging to detail financial secrets of some of America’s most wealthy. As the elite attack each other there will be even more investigations alleging wrong doing. They will try to set each other up with embarrassing photos, videos and recordings. There will probably be a serious increase in assassinations too among elite personages as they jockey each other for more power. This predictable chaos will escalate as they try to destroy each other. Ultimately, they will have so weakened one another that a coup will probably take place, probably military, and many of the “elite” will end up in prison or in mass graves like they have done to so many millions of others. All of their Houses will eventually fall to a backlash of epic proportions, one which will make the French and American revolutions look like child’s play. So much for the education many of the elite have because the only thing that it seems to have made truly elite is the savage in them.

  • Matt

    Gary2, inflation is how the govt taxes the not-rich people. How do you like taxes now?

  • Jack

    The truth is very simple. The average American will have to lower their standard of living. Prices are going up, up, up. When you have to spend more on food you’ll have to cut something else.

    Here are some examples: When we first moved to Texas in Feb 2009, The cereal I like was $2.19 per bag (store brand of course – who can afford the brand name stuff in the first place?) Now, 3 years later… the same identical cereal bag is $3.28…. That’s a whopping 50% increase!!! My wife likes the frozen breakfast strudels. For a long time they were $1.88. Then a few month ago the price suddenly jumped to $2.43, a 29% increase from one day to the next. The box claims there is more bacon in it… but she can’t tell the difference and says there were just fine before.

    We are stocking up on food storage to prepare for what is surely to come. My friend works for a company and got us started. Check out ShelfRelianceSanAntonio.com The food is fantastic and the prices low (… for now).

  • The Baroness

    @ El Pollo Del Oro: I am positive that I 100% agree with you!

  • Kevin

    The first institutions and individuals that get the “newly created money” get the full purchasing power of it. As it gets through the system it dilutes the existing money supply with every additional purchase. Prices will have already risen before you get a piece of it that OBTW you pay additional taxes on. Needless to say the average American will be playing catch up and they will never catch up.

    If it makes one feel better the last guy on the list gets hit the worst and that is the foreign manufacturers and specifically their labor.

  • Faux Gary

    Simple- tax the rich and spread the wealth around. That’s my solution for everything from debt to hemorrhoids. Can you tell I’m really a communist dressed up as a middle manager?

  • Gabrial Singh

    the fleecing of amerika continues. sheeple of amerika being driven to the slaughter house. ronald reagans mission to dumb down amerika..MISSION ACCOMPLISHED

  • John Jay

    El Pollo de Oro and Lennie Pike,
    Absolutely right.
    We are bankrupt.
    It’s almost over.
    All that’s left is a currency collapse and no more imported oil for the USA.
    If you’re lucky you will get into a FEMA camp for some food and shelter.
    Otherwise it’s the Las Vegas style drainage culvert lifestyle.

  • Indian Joe

    And now back to the golden tunes of our favourite commercial!

    Juicyy fruit – it´s a packet full of sunshine. The bright and shining flavor you can carry along the wayyy…so reach in for another sunny dayyyy..la,la,la

  • alice

    False hope, is better than no hope!

  • sammiejoe

    look, when ya have a giant welfare complex that is more than one-half the population, and women having endless children they can’t afford because that gives them access to government benefits, obvioulsy there is a point of no return which was passed a long time ago.

    we became a society that said, sure, we’ll support your kids. by doing so, we removed all constraints of self-respect, self-control, and self-sufficiency. this is a form of liberal control of the productive by the non-productive. hiding behind women, and their en masse welfare children, no one is supposed to have to achieve in this country anymore.

    this is communism and make no mistake about it. when ya steal from the productive, ya give the unproductive ever more reason to be….even more unproductive and scream for ever more “free” benefits.

  • alice

    False hope, is better than no hope.

  • sharonsj

    The Baltic Dry index is a measure of global shipping. The numbers have been going down for years, showing that the world is going broke. Nobody can afford to buy and sell products any more. Ships, planes, trains, trucks have been standing still because there is nothing to transport. They can’t afford the gas prices either.

    Prices are not going up because of supply and demand, they are going up because of speculation in the commodities markets. That’s because investors do not trust the stock market or bonds either. So the money is going into gold and silver and other concrete items that an investor can actually see (as opposed to a piece of paper).

    Meanwhile, we’ve had inflation for the past two years, but it’s been ignored by the media and dismissed by the government. Thanks to quantitative easing, it’s only getting worse. I do not believe there is a recovery and I’m going back to hoarding as much as I can.

  • Mike

    I beg to differ Alice, if one has no hope he is not disappointed when everything collapses. If one has false hope, he is unprepared for the future and is ultimately crushed. I would rather know what’s going to happen so I can integrate the ever popular boy scout theme, Be Prepared!

  • mondobeyondo

    @ El Pollo de Oro

    I hope you’re wrong. But I’m positive you are right. The U.S. is going to hell, and we’re on the fast track. You know, the road that’s paved with good intentions. We didn’t even bother to take the slow road.

    This country is full of Nowhere Men (and Women), living in their Nowhere Land, making all their Nowhere Plans for Nobody. (thanks, John Lennon!)

    And they are perfectly content to do Nothing.

  • mondobeyondo

    I paid $1.00 for air, at a service station this morning.

    If you think “inflation” merely applies to the pressure in tires, you are wronw.

    My front left tire was nearly flat, thanks to a nail, or an inadvertent thorn from a rose bush. One dollar, for freaking air. Should have just used an air hose and blow air into the tire myself!

    Your town or city is next. Count on it.

    Another example: My physician, who’ll charge a $50 co-pay to tell me I’m sick. Umm, yeah. I already knew that. Why the hell did I come to your office if I wasn’t sick?!?!

    Me: “Doc, I feel really bad!”
    Doc: “Yeah, I can tell. That’ll be $30.00.”
    Me: “How can you cure or heal me?
    Doc: “That’ll cost you an extra $150″
    Me: “Does that include penicillin and other drugs??”
    Doc: “No, that’s the fee for me telling you you’re sick.”

    Damn it, I already knew I was sick!
    That’s why I came to see you in the first place!

    No thanks, I think I’d rather die. I couldn’t pay you anyway. Laid off for over a year, and the power bill is due. Gotta heat my house, you know??

    Get me out of this nightmare.

  • DownWithLibs

    As I read the comments, I notice that peoples opinions cover all manner of directions and possibilities. My only question – who is right? Which view will ultimately come to pass? Gotta tell you, some really scare me (I hope those don’t!).

    Faux Gary:
    LOL!!

  • http://thecivillibertarian.blogspot.com/ Frankenstein Government

    I would like to offer a sane way of looking at money. It has no intrinsic value. Adding a bunch of electronic zeroes to balance sheets has not created anything. What it does is- dilute.

    Think of it this way. You order a large pizza. The cook asks you whether you would like it sliced into eight pieces or sixteen. When you ask why…he tells you that you get twice as many slices for the same price.

    The Bernank is slicing your pizza. Stock valuations have really been sliced in half. At or near 12k on the DOW- in pre-2007 dollars- we would still be trading at 6k. You cannot fuel a debt driven money system without constantly creating more debt. It’s like a two for one stock split using money instead of shares. So you just add a few zeroes, do some QE2 with money that was not created nor exists and double the valuation of the market. The overall pizza still remains the same size…no matter how you slice it. You’re just getting the same old 175 dollar stock for 350 now.

    You can do all this BS when you can manipulate the “quantity” of money at will. It is a complete and utter illusion designed to fool everyone into thinking our economy is healthy. It is no more healthy now than it was in 2007. And if they can slice the pizza again, with more money, maybe they can get the DOW to 24k. Fundamentally, nothing has changed. Don’t chase this illusion.

    Invest in precious metals and in countries with healthy, producing markets. Stay on the sidelines. Don’t fall for the BS…just let the banks trade all the funny money they get and know that you are not missing anything. Eventually all of this ends badly. One last thing. The value of gold is valued in gold. Were the current outstanding “debt” converted to a gold standard worldwide…gold would be worth 6300 dollars an ounce. It is worth considerably more than that.

  • impeachRonPaul

    Next republicans will be taking our healthcare away, it will be worse,

  • Davey Jones

    These conversations about the dollar will seem ‘nostalgic’ in just a few short years.

    THERE WILL BE A GLOBAL CURRENCY. Now that you can bank on. The plans for ending the dollar were made on Jekyll island oh so many years ago and that is the part many of the ‘end the Fed’rs’ don’t realize.

    A single currency, valued the same around the world. An international financial exchange. Businesses from all nations may issue securities, and peoples from all nations may invest in those securities.

    Of course this means the end to so many of those pesky little personal freedoms we’re used to having. But hey, the people have really taken to those naked body scanners-I’m sure they’ll take it on the chin like they always do.

    So hold on tight, the ride is getting bumpy. It will get worse before it smooths out and your right ‘smack’ ‘dab’ in the middle of a NOVUS ORDO SECLORUM.

  • http://www.pathtoasia.com rhea

    Inflation helps the borrower,USA needs inflation as much as low rates.The big trade-off is between the federal Budget and the consumption index.

    The game is on; brace yourselves for the coming days. It seems a new storm is boiling down the road!

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/jobs/

  • http://CrisisMaven.wordpress.com CrisisMaven

    How right you are – it cannot be reiterated often enough.
    I had a similar piece called
    “How GDP betrays the Economy”
    a while ago:
    http://crisismaven.wordpress.com/2010/01/25/how-gdp-betrays-the-economy/

  • uh .. me

    money when dropped somewhere stays where it is or gets picked up. What usually trickles down is more liquid, usually brown, stuff.
    Economists should study biophysics! :)

  • Carl

    The rising tide of price inflation will be met by the rising tide of depleted wage earners, bankrupted businesses and continuing waves of home and commercial property foreclosures. All the new credit that is being pumped into the system will lose its facade as money and be revealed in its true form, debt, which cannot and will not be repaid.

  • Ken

    Alice, false hope is just no hope postponed.

  • http://lsminsurance.ca Lorne Marr

    I don’t get some of the previous comments which suggest that U.S. citizens should anticipate and beware a new coming police state. In my opinion, it’s purely insane and there is reason why. A police state would require people to fall in line and if they don’t, it uses brutal force. That force is a state police with guns. That force can be countered only by armed defence. 38% of U.S. households had a gun in October 2011. In some states, that number is significantly higher. So a general strike would be very hard to cope with, as it would be in effect an armed revolt. Politicians won’t risk a civil war.

  • El Pollo de Oro

    Mariosa de Oro: Hola, Mariposita, when I speak of “Christian reconstructionists,” I am speaking of the radical lunatic fringe of “Christianity,” not Christianity in general. 99% of the people who practice Christianity, Judaism, Hinduism or any other religion are peaceful; it’s the radicals you have to worry about. And when a country is in economic peril the way The Banana Republic of America is, the radicals become even more radicalized and even more dangerous (which is why Dr. George Tiller was murdered and why people who operate porn shops receive death threats in the BRA).

    Honestly, some people cannot comprehend nuance.

  • El Pollo de Oro

    Mondobeyondo: I hope I’m wrong. I hope I’m dead wrong. But sadly, I’ve been right so far. Back in 2006 and 2007, I was predicting that the economy was heading into a brick wall but hoped I was wrong. Then came the crash of Sept. 2008, the bailouts, and the worst economic peril I’ve seen in this country in my lifetime. Sadly, I was right.

    Yeah, I sure hope I’m wrong, but all the evidence suggests that the BRA is seriously screwed on so many levels. Que dios ayude la pobrecita Republica Banana de America.

  • Chicago Don

    What is missing from the article is the “Why?” Why is the government doing this? My belief is that we are playing a huge game of chicken with China. US citizens are not the only ones holding US dollars. Billions are held by other and most notably it is China. So here are a couple of ways at looking at this problem: A. the US government is expecting this to screw the average US citizen in the shorty term. But they know we are screwed already with the debt. If dollars become inflated (like the 70′s) but not grossly inflated like Zimbabwe, and we can recovered, debt is greatly reduced. I know my folks took a mortgage for $20K on a house that is now worth $250K (even in this market). That increase is due to years of inflation and it may make debt easier to pay off. B. We are not sharing this inflation. China, Europe, Japan, Middle East and even South America have substantial holdings in dollars. As inflation increases, their investments decrease, giving them a strong reason to help the USA. Once again, come the game of chicken, or maybe Russian Roulette. Someone may take a bullet and at that time, if they turn in all their dollars, it can get really dicey.

  • James

    The price of food will go up in the short term. But, when the stores and shops realize they can’t sell anything at those high prices, they will be forced to cut prices or go out of business.

  • sick of idiots

    Ok so El pollo loco is worried about peple who dismember babies and promote pornography…..thats why this country is so screwed!

    Give it up..freak!

  • realityrules

    It’s sad to see that so many of the masses are being fooled by the current regime in Washington, D.C. and the state run news media. The current regime keeps promising the masses more and more in benefits but the regime has no money to fund those benefits. The regime either borrows ever more from China or just prints paper money. When I hear the masses cheer on the current regime, I think of the those in the past that cheered on the corrupt regimes of Mao, Stalin, Hitler, Pol Pot, Castro, or Hugo Chavez and ended up paying the price for their devotion to corrupt regimes. Are we doomed to repeat those failures?

  • El Pollo de Oro

    sick of idiots: So, you think it’s OK to murder people because they don’t share your views? That would make you a terrorist as well as a sick, vile son of a bitch. You should join al-Qaeda or The Taliban. Yeah, I know you think that al-Qaeda promotes the “wrong religion,” but they also believe in murdering people for looking at pictures of naked women on the Internet or for buying condoms. You would fit right in, you miserable neoKKKon bastard.

    Watch who you mess with, cabrón. I’m a Libertarian, not a liberal—and unlike a lot of my liberal friends, I firmly believe in self-defense. So you might want to rethink that “let’s murder porn stars and doctors and anyone else we disagree with” thing because there are a lot of Libertarians out there who have zero patience with jihadist nutjobs like you.

  • El Pollo de Oro

    sick of idiots: By the way, you proved my point, Mr. Culture Warrior. I said that the “Christian reconstructionists” (who are so nuts that even Jerry Falwell was critical of them) are an American equivalent of the Taliban and al-Qaeda—and when I said that the terrorist killing of Dr. George Tiller was wrong and that making death threats against people who operate porn shops is wrong, you objected. So you condone terrorist behavior, which makes you a terrorist, pure and simple, Mr. Culture Warrior. I’m sure you’d love to firebomb a gay bar or shoot someone for opening a nudie bar. Hell, you would probably murder a Buddhist or a Hindu for practicing the “wrong faith.”

    That’s why Libertarians support the 2nd Amendment: so people can protect themselves against the sort of home-grown terrorists you obviously support. Some liberal/progressives are pro-2nd Amendment as well (I don’t mean to diss liberals), but to the ones who aren’t, I say this: please don’t give up your right to self-defense.

  • Kevin

    Ultra religous of any faith frighten me a bit. They tend to justify criminal actions here and now because they answer to a higher authority later. Granted some faiths are more bold then others but that hearafter mentality is a common thread among them all.

    If given a free hand any of them would establish a theocracy here in the US or anyplace else for that matter.

    The root word of Libertarian is Liberty. The word is often used but it’s true meaning is not understood by the far right and the far left. Both of them are authoritian and have more in common with themselves then they realize. Both like control as long as it’s being controled their way.

  • mondobeyondo

    @ Sick of Idiots

    “Ok so El pollo loco is worried about peple who dismember babies and promote pornography…..thats why this country is so screwed!”

    You fail to realize that the reason we’re up shoot creek without a poodle, is BECAUSE we dismember babies and promote pornography!!

    *giggle*

  • mondobeyondo

    Ah yes, the almighty dollar.

    The World’s Reserve Currency, at least for now. (Repeat at least 3x)

    What happens when the dollar ceases to be the world’s reserve currency? Our “ticket to ride” comes down to a crashing end.

    Our overseas lenders are already discussing a new global reserve currency. If another currency is deemed to become the “reserve currency”, the Fed will not be able to print and print ad infinitum. Why? Because the dollar wouldn’t be the world’s reserve currency anymore. One of the privileges of being a reserve currency, is to run those printing presses non-stop to your heart’s content. (That is how we’ve been able to get away with a $14 trillion debt for so long.) European nations can’t do that..YET. We’d be at the mercy of a new currency, possibly the euro. Oh, darn!!

    We wouldn’t be the king greenback anymore. Oil and other commodities would be traded in the new currency. (Up go your food and gas prices.) Benny and the Jets (that’s Elton John, if you’re wondering) won’t be able to add any more QE’s to the national economy, because the dollar won’t be the reserve currency anymore.

    Down goes our standard of living…and that would be the good part.

    Don’t mistake me for a modern day Jeremiah, but I don’t like what I’m seeing.

  • loneranger

    The money doesn’t trickle down because its invested some place else.The Chinese hedge any dollar bonds they buy as soon as they get them.Remember the dollar is the world reserve currency.The cash for clunkers is a a good example.The USA basicly subsidized the Chinese steel industry.Scrap steel prices go down and China steel exports go up.They also use dollars for infrastructure to build up in places like say Africa.Any commodity can be manipulated,gold,silver,grain,oil.As far as grain goes most farmer have a large part of their grain sold before its even planted.They can see their costs and try to get a contract thats going to pay them a good profit.

    On a side note when enron was going belly up I payed careful attention to a low risk mutual fund that invested in utilities and was surprise to see them buying enron stock when it was almost certain it was going BK.When the stock had going down to about .10 a share I called and asked if they were invested in enron,the person checked and said es but it represented like .6% of the of the shares value and represented little risk and you can guess the rest the share price had tanked.So watch any mutual funds they can be dumping grounds for toxic investments.

  • impeachRonPaul

    Libertarians are owned by the religous right. The platform is more open minded but the party has been over run by religous whites wanted to force their views on us. They hate the goverment because they will not enforce their social agenda on everyone. Vote for freedom vote against libertarians!

  • Kevin

    I’m an agnostic at best and will take my chances on the individual that supports the greatest amount of the Bill of Rights and is against “free trade” with slave labor nations.

    Should I vote for the Democrats that “cherry pick” through the Bill of Rights and have a majority in their party that support and voted for both NAFTA and China Free Trade or the Republicans that have done the same? The only difference between these two that are both owned by Wall Street is what part of the Bill of Rights they accept and which they attack.

  • loneranger

    I have a 13 month old niece that can only say “NO” right now.She she could do 100x better than what we have now.The age limit thing would be the only draw back maybe if we could get the age limit dropped to 12 months we could get the goverment back on track.Just don’t call it a job and pay in freezey pops they love them.

  • http://www.my-austin-bankruptcy-attorney.com/ Austin Bankruptcy Attorney

    Does anyone else feel like the media is trying to show a recovery down our throats. Until unemployment turns around, all the consumer confidence in the world isn’t going to do us any good. I’m on the ground floor seeing people still struggling every day. Time for some real change.

  • Davidm

    Austin Bankruptcy attorney in Memphis here. This economic recovery is just breath taking. It will continue to be great until we fall into riots and chaos because no one can afford to eat.

  • Davidm

    Keep an eye on Egypt. That is the finished result of this recovery. Egyptians are having a hell of a party as their world crumbles. Basic services and basic provisions of human necessities are collapsing. That is the recovery we can look forward to.

  • http://www.HowMuchEnergy.com How Much Energy

    lmao you are so very wrong

  • Bruce Dorsey

    I believe everything the government is doing is planned no matter how ridiculous it appears to us!

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