Restoring our Economy

If it weren’t for the pending multiple debt bubble crisis, all it would take to increase our economic activity would be to stop bringing in an extra 1 million immigrants every year, remove all obstructions to extracting our natural resources (think EPA, Interior, etc.) and cut federal spending 1 trillion dollars a year by sending unconstitutional functions to the states. Next we should lower our corporate tax rate for manufacturing operations from 35% to 5% and raise our import tariff from 1.6% to 6%. That would make it possible to bring manufacturing back to the U.S. If we did that, the Fed could start pulling its funny money back from the banks to attempt to make the inflation it already created not be so devastating.

The pending debt bubbles are another problem. The Federal Reserve, Central European Bank and other international banks have printed enough extra money to keep inflation moving up at 4% a year for the next 40 years. That means today’s prices will be 10 times higher in 40 years. If your household income is currently $100,000 a year right now, to maintain the same standard of living, your household income would need to be $1 million per year in 40 years. Are we having fun yet ?

It doesn’t have to be that way. We need to force federal spending to be lower than revenue and close down the Federal Reserve’s printing press. Then we should tie the U.S. dollar to gold to ensure sound money and avoid future inflation through money printing. Ron Paul is the only Presidential candidates ready to take that kind of action now. All the rest would just keep the Fed money printing scam going. Stopping the printing press will just halt inflation going forward. All that un-payable debt needs to be repaid.

The debt bubbles include all government sovereign debt, corporate debt and personal debt. We know how that works. The borrower doesn’t have enough money to make debt payments and the debt goes into default. National governments normally monetize the debt by printing more money. That makes inflation and prices go up, but if they didn’t have a Fed or Central bank to print their money, they couldn’t create inflation for you and me. Does that sound like a Plan ?

It would seem reasonable for governments to stop spending more than they take in revenue at some point. Are we at that point ? If they would do that, the Fed and other Central Banks could stop printing the extra money that turns into inflation. Is that reasonable ?

Norb Leahy, Dunwoody GA Tea Party Leader 312