The US economy is in shambles. The numbers are managed into lies. The soup lines are hidden in the electronic dole. And there is no quick fix to this mess. It is not just the US.

In China empty cities have been built and more are being built. It is all great for their GDP. But bad for their citizenry’s reality. They are empty.

The Central Control model is also failing in the Eurozone where one after another economies shattered because of excessive debt: (Iceland*), Ireland, Greece, Malta, Spain, Italy, Portugal, etc.

What these failed states, the US included, have in common is massive debt from the individual level to the Federal level. Given this unfortunate reality, what do we do? Well, what we did was bail-out the corporations. Printed money. Created more debt. Engaged in stimulus. Engaged in incentives. Abrogated property rights. Indulged in Bastiat’s Broken Window Paradox with Wars On Everything and Real Wars on Real People.

Iceland offers a hint at the correct response to overwhelming debt: Default, not bail-out.

None of the “Two Big to Fail” corporations were allowed to fail. Instead they were bailed-out on the backs of taxpayers and future generations of taxpayers.

We get debt and Corporate executives get bonuses.

7 thoughts on “Economy

    1. Mike Montchalin Post author

      Thanks Luke, for bringing me back.
      The problems are huge, bigger than me, bigger than any senator. But,
      No more bail-outs, possibly claw-backs
      Traditional American Institution of Bankruptcy must be restored to students
      Private property rights must be respected
      Liability must be meted out in court and not through regulation or legislation
      Free-Markets must be respected.

    1. Mike Montchalin Post author

      Criss, Thanks for asking. I do not use marijuana, myself. I have no fear of it. I favor full legalization. People who like marijuana are already smoking, growing, distributing, etc. Legalization will have little affect on society. People in prison for marijuana should be set free.

      Regarding the measure that will be on the ballot about legalizing marijuana. I will be voting to legalize it even though I do not like the idea of the government regulating and taxing it. I also do not like the idea of the State Government adding to its bureaucracy over a plant that has done just fine without the States Regulation.

      One more thing, Isidewith dot com is computer generated and makes about as much sense as anything computers generate. When in doubt, ask here. And if you don’t like what I say, come back and get the last word in.

  1. Mark Meyers

    How about assisting out economy by forcing the USA to transition to Metric system?
    Only three countries do not us Metric system: Liberia, Myanmar and of course, the United States of America. Why continue to allow our country to have a trade disadvantage against the rest of the world?

    What thoughts do you have on how to eliminate patent trolls?
    Patent trolls are people or corporations that sue for patents, and that is the ONLY thing they do is sue, no other products or services. Often times it is a legal extortion scheme to get an out of court payoff, because fighting the suit is more expensive then paying them off. This kills legitimate for profit creativity.

    1. Mike Montchalin Post author

      A measuring system should be a convention that emerges because of the benefits of conforming with everyone else. Our government’s institutions inhibits this with specs in the English system of measures.

      Murray Rothbard was an important American economist in the Free-Market tradition who argued, “Copyrights good. Patents bad,” that copyrights are derived from an individual’s first claim to the fruits of his intellect and that claim is independent of the state, while patents are monopoly product granted by the state.

      Stephan Kinsella is a more recent Free-Market thinker who looks at IP from the point of view that only rivalrous items can be claimed as property. And so he denies that property rights extend to the intellectual realm.

      I would like to see more discussion and argument on this subject. I also believe the concept of Jury Nullification is especially appropriate here. Jurors should not blindly accept jury instructions, ever. When we serve as jurors we should permit our own judgment in the particular case supersede jury instructions. That might be the proper place to consider patent trolling.

Please let me know what you think.

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