05-21-2020, 01:23 AM
(04-28-2020, 12:40 PM)David Horn Wrote:(04-28-2020, 12:24 PM)Isoko Wrote: David,
Once again, how can you pay for all this? The problem with the U.S is that she is in 1980s Soviet waters. There was no way or will to radically turn that system around. When you are in that stage, the system fails and has to be rebuilt from the ground up, not the ground down.
We're already entering a deflationary period, which is the worst form of economic crisis. Printing and spending money is the easiest way out. Since much is needed, much money should be printed. I only hope it's used wisely.
In the aftermath of WW-II, the US debt was 128% of GNP. By 1962, it was 32%, and not one cent of the debt was retired. The difference: growth and inflation made the debt seem small in a then highly robust economy. There's no reason not to do that again.
Strictly speaking, an economy is at its strongest when people are on the reckless side when spending money. I need to replace a muffler on my car, and I need (for my mental health) to rescue a dog. Maybe I might buy a complete set of Haydn string quartets on the side, although dogs generally dislike music on stringed instruments. That almost makes me a 'cat person', except that travel with a cat isn't easy.
In any event
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.