Black Friday poll: How will you spend it?

According to George Will’s Scroogenomics we are just wasting our money!
http://www.realclearpolitics.com/articles/2009/11/26/scroogenomics_99316.html

Speaking of value for our money how about:

1) 2.7 Trillion in Tax Dollars for Federal Bureaucracy in 2009, including 612 Billion for Social Insecurity, 682 Billion for Medicare & Medicaid, the healthcare destroyers and 249 Billion of interest on the National Debt. 1.543 Trillion down the toilet. Rather than handing Seniors a government check wouldn’t it be swell if the dollars they saved for retirement were worth, oh let’s see…..a dollar, rather than the debased 1.5 cents they have become since 1913?

2) And speaking of paying interest on the National Debt, How about our “Monetized Debt” based monetary system? How’s that Monetized-Debt working out for you Americans anyway? It’s been a grand system for our pals over in Great Britain hasn’t it. Yep, destruction of civil society in one of the greatest civilizations on the planet is just about complete and it’s only taken 300 some odd years. America is heading down the same path just a few 100 years behind, but seem to be plummeting into the abyss of debt at an even more alarming rate.

3) And what do we get for, oh let’s see, for arguemt’s sake 6.5% interest on our entire money supply of say 14 Trillion dollars?
A) A money supply to facilitate transactions in our economy.
B) Bookeeping services, telling us who has produced and who has consumed.
And, to think all that only cost us 910 Billion dollars. Why we should fall on the ground and kiss the lenders feet!

4) Of course we could go the route of Abraham Lincoln and issue an entirely different type of money. Money issued without debt. Value based money. Greenbacks. Pieces of paper or electronic entries as symbols of real value i.e., Goods and Services. What a novel concept. Indestructible money that circulates in support of our economy performing functions A & B for FREE! Well, without debt. That means without 910 Billion in interest payments……per year. Driving inflation. Devaluing our dollar. Or we can just stick with the fragile Debt-based-money we use now. Constantly being extinguished as loans are re-payed and then recreated to maintain a circulating medium. Of course that’s if the lenders feel up to it today. Funny thing, lately they just don’t seem to be up to the task. Wilding an entire nation’s economy, is arduous work. Definitely not for the feint of heart. I guess they are weary from their labors.

5) At least lenders have recently managed to sock away 1.2 Trillion of M0 money or monetary base/reserves. Remember the Bail-Outs? I guess that would come in handy if there were to be a fire sale? If the economy were to really crash and burn. And the price of assets were slashed to 50% or 10% of their current value. I mean why leverage those reserves now, when they will be just the thing to have on hand when the big one hit’s. Think of all those deals to be had. Wouldn’t want that pesky working middle class to hold on to those assets. No, those guys are sure to waste those assets on such frivolities as their families, retirement, and healthcare. So what if they are the ones that created the assets in the first place. Bunch of plebes.

Nope, you are right George, great topic to write about. That 12 billion we’re wasting with our family and friends at Christmas is a huge sum. A real tragedy. The 1500 Billion wasted by our government on social programs that have not and will not ever work and the 900 Billion gobbled up by the predatory lenders, (is there any other kind?), just in order to have the prerequisite of a modern economy, ie a circulating money supply is no story at all. That the two, (Government and Lenders), have worked hand in hand to destroy the one shining beacon of the world, America, is nothing to write about. The 100 year rape and pillage of an entire Nation’s economy, no news at all. No, nothing to see here folks, move along, move along…….

speed on November 27, 2009 at 9:36 AM