Below is a great story about how some charitable people in Texas stepped in to help a worker who had to walk three miles to work and back each day. This also reminds us of what it was like when people took care of people.
I wrote this 6 years ago for The Liberty and Economics Review. My first website of any consequence. I thought our readers might enjoy reading it.
At the time we were just barely considering climbing out of the depths of the Great Recession and we were seeing a solid (though brief) bit of price inflation. This price inflation was hammered later however by the massive move down in oil prices as OPEC and the US frackers went toe to toe and drove the price of fuel down.
Some people just can’t see that earthquakes, hurricanes, and (I’m not joking) alien invasions (“broken windows”) just aren’t good for the economy. This is true even if people are paid to rebuild cities or paid to wage anti-Martian warfare. It’s not complicated. But some very intelligent people can not grasp this basic concept. Some still embrace the thoroughly debunked concept of the “multiplier effect” in the economy. There is no multiplier. There is redistribution. Wealth comes from innovation and ingenuity and creation and risk taking.
When life gets expensive people stop going to Outback. I think Confucius said that.
Add the political pressure to raise minimum wages and things don’t look so good for restaurants right now.
Again I hate the word “elites,” but for your review.
So, default, growth, or inflation. How’s this going to be resolved?
Inflation is a stealth tax.
An excellent report.
Loaded up and on the way.
“Dolla dolla bill ya’ll…”
Or is it yen yen ya’ll?
No matter, the helicopters are in the air over Tokyo and currency is about to fall from the sky.
Watch military spending in Japan ramp up. This ought to work. We promise. This time. It’s gonna happen.
“I love the smell of inflation in the morning!”
Get ready folks, money from the sky is coming. Janet Yellen is warming up the chopper engines.
(From The Washington Free Beacon)
Yellen said that fiscal policy could be a very important tool in addressing weak growth or deflation.
“It’s natural that if it can be employed, that just as monetary policy is doing a lot to try to stimulate growth, that fiscal policy should play a role,” she said.
The French Revolution (and others) was tied to hyperinflation and a shortage of wheat. When people are hungry they get desperate. There is no reason why anyone should be hungry in Venezuela. It’s a verdant country. Yet the socialists have so mismanaged the economy that even here, in a veritable Garden of Eden, people are hungry. Even here, a country which sits on massive oil reserves nearly unrivaled in the world there is not enough energy to keep the lights on.