New Age Crap

All Authors tend to be correct in this one, including the illusion to creation of moral hazard. What the Austrians had always lacked was a reference to Political Science, another of those not quite rocket science endeavors. Those Guys would have come up with a Concept of patronage fields, and the degree of resistence held by politicians and lobbyists to elimination of developed fields. The fact of the matter states that everyone likes to spend money, and even more, dislikes the discontinuance of that expenditure if it can be maintained. Removal of restrictions upon debt acquisition has always been the Crime, and it cannot be expected that politicians will ever control themselves. We need to introduce some outside controls, which the politicians cannot violate; and currently, We must force them to introduce such controls themselves.

Here is a man who will not see the black hole, even as he is sucked in. There are only two potential economic black holes in economics–Debt Aggregation and Over-Capitalization. Both concern the pressure of Interest destroying the Profits-making potential of enterprise. The real danger is that the two forces can mask each other until it is too late. It is so bad that there are economists who would acclaim that neither trend can be effected. No one ever thought that a small nation could terrify the entire civilized world; by the way, this was accomplished by an adverse over-capitalization of education by the civilized world. It is also sad commentary that the capitalization of weaponry has raced ahead of preventive measures–through the easier locus served; never doubt that the techniques of mass murder will never be used.

I will finish this Post with this Piece from Marcus, even though it is too wonkish for it’s own good. His entire point is that We are trying to increase aggregate demand, not Inflation. The exponents for allowing Inflation to afflict Us to greater degree are wrong, but so is pressure for aggregate demand, if any could be found. We have long claimed that Americans must learn to consume less, and that the rest of the World will approach American consumption rates. We are now in such circumstance, and everyone is screaming because of the loss of Employment and Profits. Sale of Product to established economies is always more profitable than to undeveloped nations, as the Producer have to deal with the lack of infrastructure and legal safety issues. No one is ever going to find Solutions to this set of problems, and Employment will continue to suffer from the degradation of Profits. We need to switch to an economy which values Employment over Profits, where full employment consists of actually less Work hours, more Employees, and development of cheap Entertainment venues to accommodate the greater leisure. The Reader should understand there will be Change, and it would be better if it were planned; than if devotion continues to be laid with old economic values. lgl