Saving and creating jobs, needs to be Job #1.
Americans are willing to tighten their belts, and take their medicine. But, what they’re not willing to do, is do it alone. So far, we’ve had our priorities backwards.
The mantra needs to be…
“What’s good for Main Street, is good for Wall Street.”
…not vice versa.
State and local governments spend money better than the Federal government. While more government spending is needed, bigger government is not.
Unemployment benefits need to be extended. Emergency health care provisions with credits toward COBRA payments, or catastrophic care are good. But, creating a new health care welfare system that subsidizes emergency room visits for runny noses, or pays for viagra - is not.
The only cure for the “Housing Bubble” is time.
Prices must be allowed to fall in a free market to levels where supply and demand are naturally rebalanced by buyers and sellers - not by government, at taxpayer expense.
Tax credits for new home purchases are good, but bailing out bad banks, or bad actors, at taxpayer expense - is not.
The top tier of the US Banking system is bankrupt, and beyond bailout, or repair.
Wall Street knows it. Main Street knows it. And the entire world now knows it. Bad banks must be closed, and toxic assets must be sold at market prices - not subsidized by taxpayers.
Those responsible must be disgourged of their ill-gotten gains, and where applicable, sent to jail.
America’s banking and financial system needs common sense reform and regulation. Never again can hubris, greed, or uber-leveraged derivative instruments that no one understands, be allowed to collapse our economy, or the financial system.
And above all, America needs to return to sound money.
Re-open the gold window that Richard Nixon closed in 1971. Lead the world in the return to sound money - not in the race to debase it. Return the U.S. Dollar to a gold standard.
Get government out of the way, and let sound money, free markets, and capitalism work.
Do that, and not only will America return to work, it will lead the world to new levels of freedom and prosperity.
SliderOnTheBlack
4 responses so far ↓
1 Tom // Feb 10, 2009 at 6:30 pm
“Get government out of the way, and let sound money, free markets, and capitalism work.”
totally agree.. however, how the above statement square with some other things you say such as..
“Tax credits for new home purchases are good”.. what does this have to do with a free market? isn’t this just another market distortion at the expense of those who aren’t buying a home for whatever reason?
and..
“While more government spending is needed, bigger government is not.” doesn’t the money that government spends have to taken from someone else or borrowed? how can government spending be ‘good’ in and of itself?
2 Mark Herpel // Feb 10, 2009 at 9:17 pm
Honest Money is on the way back in Indiana and the bill is also proposed in Colorado. 2 States, more to come. Paper is poverty.
http://indianahonestmoney.com/
The absence of gold and silver coin as media of exchange between the State of Indiana and her citizens, in the exercise of the State’s essential sovereign prerogatives, functions, rights, powers, privileges, and duties:
Abridges, infringes on, and interferes with the sovereignty and independence of this State and her citizens as guaranteed to them by the Constitution of the State of Indiana.
Exposes this State and her citizens to chronic problems and crises due to the economic and political instability of the present domestic money in which gold and silver have no effective role.
Exposes this State and her citizens to the chronic depreciation of media of exchange other than gold and silver, which losses in purchasing power amount to the incremental confiscation of their property without just compensation, in violation of Article I, Section 10, Clause 1 of the Constitution of the United States, and the Due Process Clause of the Fifth Amendment thereto; and
Restricts the ability of this State and her citizens, inhabitants, and businesses to fulfill and enjoy the mandates and guarantees of Article 1, Sections 1, 23, 25; and Article 11, Sections 3 and 7.of the Constitution of the State of Indiana.
In order to preserve the sovereignty and independence of this State and her citizens it is imperatively necessary and proper for the General Assembly to guarantee to and provide for this State constitutional and economically sound media of exchange by exercising:
(a) This State’s power, privilege, and duty to “make * * * gold and silver Coin a Tender in Payment of Debts”, as reserved to and required of each State under Article I, Section 10, Clause 1 of the Constitution of the United States, and confirmed by the Tenth Amendment thereto and by Article 11, of the Constitution of the State of Indiana; and
(b) Other powers, reserved to this and every State by the Tenth Amendment, and to this State by Article 11, of the Constitution of the State of Indiana, which relate to this State’s choice of media of exchange for the fulfillment of her essential sovereign functions.
(c) To correct errors and conform with Article 1, Section 25 of the Constitution of the State of Indiana, “No law shall be passed, the taking effect of which shall be made to depend upon any authority, except as provided in this Constitution.”
Mark Herpel
Editor Digital Gold Currency Magazine
3 IAC // Feb 11, 2009 at 12:35 am
Agree mostly except on the first pt. How can jobs be saved. Specifics. It’s been tried. Doesn’t work. Gov. needs to focus on value of the Dollar and keeping the financial system intact. Jobs, stock market, housing will have to find natural equilibriums.
4 lahru // Feb 15, 2009 at 3:31 pm
The IMF is now involved because the world’s largest economy has been been manged by people who have no regard for the economic health of the rest of the world. I’m not sure what price the American public will pay but I am sure that many of the banks that have the ability to effect worldwide monetary performance will pay a very distinct price. There no doubt are going to be changes but the IMF knows better than to do anything spectacular now.The big changes will occur over time so as not to disrupt a mild economic recovery to keep the populace from becoming antagonized by economic armageddon. And I believe that many in the worldwide economic community understand that hitching their wagons to our prosperity is good for them also.
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