Wednesday, October 15, 2008

Keynes Would have seen it Coming....Really??

Letter to the Editor of the Washington Post in response to an Op Ed by Robert Skidelsky on Oct. 14, 2008

To the Editor:

With market capitalism on its heels, Keynesian economics is being saluted by the likes of Robert Skidelsky and Nouriel Roubini with their concomittant load of FDR style "investment" suggestions. Excellent ideas all and even better timing. We have a cash debt of $10T and unfunded liabilities of $50T plus brought on primarily by FDR programs like Social Security, LBJ's add-on Medicare and in the spirit of bi-partisanship Geoge Bush's Prescription Drug Benefit guerdon for the elderly and more importantly, 70 million soon-to-be elderly voting baby-boomers.

The pendulum is swinging far to the left and Mr. Obama hasn't even won the election yet. He will of course, by a landslide.

All the work being done to save the world's financial system in response to the government induced, greed enhanced, mortgage meltdown will go for naught due to an inability to see the real root of the problem; a fiduciary monetary system that can, ultimately, never be controlled by man. A monetary system can only be controlled by decentralized and competing sound monetary systems.

I would like to say this is going to be fun to watch, but it won't. It will be painful.

5 comments:

Ed said...

If we are far to the left, we with capital punishment, unregulated corps, no nationalized health insurance, and no secondary education policy... what is Europe end every other western country?

I propose we are not to the left, we are towards oligarchy. The powerful help themselves, and throw the lesser to the curb.

We need more selflessness. And that leans left, for whatever reason.

Ed said...

Hey.. I thought my comment on this subject last week was good.. no approval?? (did it get lost in your flood of mail? :) )

Cajun Libertarian said...

All those European countries are left. And I don't want to go there. It will be the end of what American was and should be. I understand your thinking this is oligarchy and in some respects it is, but that's no reason to go with socialism. Rather we should go back to a more Jeffersonian outlook which decentralizes and thereby creates more freedom. Actually more selflessness VOLUNTARILY given is ok. FORCED selflessness is counter productive as it promotes less personal responsibility which is detrimental to the collective polity.

Ed said...

To put it simply.. if the people in power dont volunteer their selflessness... it we the people will force it.

Either way, its gonna happen. I would rather it was voluntary!

But the selfish greed of the last 25 years (or more) is not a good sign that the powerful are pulling their weight.

I'll be happy to force them.

And we will ALL be lesser for it.

the powerful have the reigns in this decision. What will they choose to do?

Ed said...

Time to post a post election post!
Ed