ARE ECONOMISTS TERRORISTS?
Something strange happened to Economics....
Somehow it came into mainstream thinking that Americans could continue to consume massively even though they didn't produce very much......
We could borrow, cheat and steal.....it didn't matter.....as long as we consumed, Economists believed everything would be OK with little regard to production.
Now, as a nation, we are consuming massively with relatively little production. The bankers assured us of this by cutting off credit to an economy that they made credit dependent.
Our government and the tens of millions of employees are consuming much more than they are producing. Our Welfare, Retired, and Unemployed are consuming much more than they are producing. Our select few bankers are consuming much more than they are producing.
Simply the above constitutes a massive amount of production backed by relatively little production.
How are we consuming?...by handing others currency and taking production in return. HOWEVER, currency only has value if it is backed by production/assets. And as we keep printing more currency backed by less and less production....soon our currency will have little value and fewer and fewer will accept it for their production.
When our money is worthless, or near worthless.....you will know what it is like to take your "FREEDOM" away. Just ask the poor in Africa, India, or much of the rest of the world. The German's after World War 1 have a profound understanding of this concept.
This is the path we are heading down....and when few will accept our currency for their production....we will be left with two choices.....STOP CONSUMING OR FORCE/FIGHT OTHERS TO ACCEPT OUR CURRENCY.
It will be interesting to see which choice we select.