Read of the day

http://spectator.org/articles/59563/foul-tornado/

Thanks for a well written article.  The author takes a very close look at much of what happened during the '14 era but really doesn't express what led up to it.  Maybe the assumption is readers of the article would already know what transpired politically during the late 1800s, maybe not. I was hoping to read at least some opinion on the European experiments with centralized banking.  I think these facts are most important in discovery leading up to the revolutions across the continent.

No discussion about Kaiser Wilhelm's money printing.  Nothing about France and what led to her own revolution. ( I could touch on Austria but binging Austrian Economics ought to a refreshing excersize for any kind of capitalist)

Naïve and arrogant leaders begin using the powers their people only granted them to fix problems which were never theirs to deal with in the first place.  It becomes graft.  To tax yet again to fix the problems that over taxation created in the first place.   When the limit of value is reached, begin printing currency.  They all know where this is headed, though none of them want to be held responsible for shutting off the assistance and eventual total sustenance to the growing bloc of poor they depend upon to vote them into office and whose only requirement is to keep the "free stuff" flowing.

Want the truth?  There was a hope that "nation building" in the middle east would have created a new source of immigration and possibly a peoples supportive of the republican party.  Like we were their liberators or something.  And they were supposed to be grateful to us for what we did there.  How completely arrogant and naïve.  Each individual sect hoped for our aid to their side so they could win over the others in their region.    By proxy our power would become their power.    But that's beside the point.



When you overtax you take away the ability to save.  It isn't that you make it harder, you take it away.  The rich look for tax shelters.  They begin to pay their employees progressively less.  Employees, making up the vast engine of a nation's economy, grumble and look for cheaper goods because they know savings get taxed through banking and lending institution fees.  Interest rates are manipulated to encourage the middle class to trade up to more expensive houses (and lifelong interest payments).  Nobody uses the term "house poor" anymore.  

It's more complicated but you can start by saying that our own choosing to remain in debt pretty much got us where we are.


Harv