As Silly as John Law
- Increasing money and credit by the Fed is not the same as increasing wealth. It in fact does the opposite.
- More government spending is not equivalent to increasing wealth.
- Liquidation of debt and correction in wages, salaries, and consumer prices is not the monster that many fear.
- Corrections, allowed to run their course, are beneficial and should not be prolonged by bailouts with massive monetary inflation.
- The people spending their own money is far superior to the government spending it for them.
- Propping up stock and bond prices, the current Fed goal, is not a road to economic recovery.
- Though bailouts help the insiders and the elite 1%, they hinder the economic recovery.
- Production and savings should be the source of capital needed for economic growth.
- Monetary expansion can never substitute for savings but guarantees mal-investment.
- Market rates of interest are required to provide for the economic calculation necessary for growth and reversing an economic downturn.
- Wars provide no solution to a recession/depression. Wars only make a country poorer while war profiteers benefit.
- Bits of paper with ink on them or computer entries are not money – gold is.
- Higher consumer prices per se have nothing to do with a healthy economy.
- Lower consumer prices should be expected in a healthy economy as we experienced with computers, TVs, and cell phones.