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16 Dec 2012 - 14 Aug 2013
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12/11/12 Charles Goyette
Charles Goyette, author of The Dollar Meltdown and Red and Blue and Broke All Over, discusses the government’s fiscal cliff; why the proposed “austerity” budget cuts are ludicrously small; how Republicans conveniently forget their own history of profligate spending; the Freedom & Prosperity newsletter; the synchronous decline of all the world’s fiat currencies; why a US economic recovery (if it ever happens) will be accompanied by serious price inflation; and the remarkable resilience of free markets in the absence of government meddling.
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1 Comment
Luther Blee
December 12, 2012 at 12:00 pm
I largely agree with the analysis (and the DixieCrat/Southern Strategy remarks had me laughing!) – but when Goyette ends with a re-affirmation of the ‘moral sanctity of debt’ (“the debts are real and must be paid”) and then talks about removing the ‘state from the stage’ to allow some sort of apocalyptic ‘financial reckoning’ that sounds like a euphemism for some sort of mass die-off or ‘mad max/running man/hunger games’ scenario and I get nervous.
I’m frugal by nature so I don’t have any monetary debts – but I still don’t beleive that every debt (much the fraudulent ones ‘owned’ to predatory banksters & courts) must be paid no matter what the human cost. Debt is like the legal system – it cloaks itself in fine moral garments but it is only applied to the poor. Rich people slough off debt like nothing (too big to fail); loan sharks wag their finger as they break your knee-caps.
I agree with a mass ‘die-off’ of the finance capital parasite class and a liquidation of the imperial police state rather then use state bail-outs & hand-outs to prop them up – but there wasn’t enough discussion to discern if this was the ‘re-adjustment’ that Goyette meant or if the “busy hands” he invoked involved more sawed-off shotguns and elderly people fighting over garbage can scarps.
I also agree with the dislike of the rampant ‘fictionalization’ of money (or whatever the term is). When I started getting paid at my current job I asked to be paid in cash and they looked at me like I was a kook: “Direct Deposit only.” No bank account, no payment. (And if just try to just take all that money out of that f’ing account, the f’ing bank charges me money for having an ‘empty’ account!)
I’d like to escape fiat currency but buying gold & silver seems just as ridiculous. It’s not like you can eat it and their value seems more to do with ancient mythology than practical value. Maybe it’s because I live in a Northern mining town and come from a family of miners but I’m pretty cynical toward the ‘gold-bug’ movement. Precious metal are what American Bonesmen & English Masons (literally – I’m not being conspiratorial) pay you minimum wage to dig out of the ground at the real risk of your life & limbs & lungs. Gold might not be printable but considering the bastards who hoard it it’s not a currency I want to adopt.
I don’t have an economics background but these are my gut-level responses.
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