Korean Job Discussion Forums

[mises]

Medicare and midicade can be brought under a single payer system similar to France.

Social security needs serioius structural adjustments and they have to stop borrowing from the 'trust fund'.

Generally, just grow the economy.

Hyperinflation would destroy the American economy and society Joo. Look at Latin America (specifically Brazil). Inflation is the major cause of political instability and inequality.

http://www.marginalrevolution.com/marginalrevolution/2006/12/brazil_fact_of_.html

[Joo Rip Gwa Rhhee]

[mises]

Joo, hyperinflation would unleash social disorder on a scale we can't fathom. All long term investments are off. All savings are worthless (those people will need government handouts to survive, as their jobs are now gone).

Really. I'm not going to address this idea. We'll have to agree to disagree.

[Joo Rip Gwa Rhhee]

[Ya-ta Boy]

Hyperinflation is not an answer to anything. Ever.

[Joo Rip Gwa Rhhee]

[Ya-ta Boy]

I've never been against reform as long as it's progressive reform. I've opposed reform when it's just double-speak for Let's-drive-a-stake-into-the-heart-of-a-program-we-hated-from-the-first.

The most serious danger in this current economic situation is that Obama will fail. Why is that the most serious? Because the Republican (conservative) ideas have already been rejected. If Obama's attempts fail, it doesn't leave the electorate with anything but truly radical solutions. Hyperinflation will only intensify that danger.

[Joo Rip Gwa Rhhee]

[ontheway]

The "Obama Plan" that is working its way through Congress is likely to grant Joo his wish for hyperinflation. It is also full of protectionist measures, which means that we're due for another large stock market tumble in the next few weeks or months. Events are still unfolding in a manner quite similar to the onset of the Great Depression. Bush, and now Obama are following the Hoover/FDR keynesian/socialist program. It failed before and it will be worse this time.

Differences:

1) Many people know this one is coming.

2) This one was already slated to be much worse, due to the greater amount of unbacked inflated money already issued by the Federal Reserve and the massive government spending program that will increase the problem.

3) Now that Congress is adding a lot of protectionism to the Obama Plan, and many countries are threatening to retaliate, the only ameliorating factor - the lack of a Smoot-Hawley style tariff law - has now vanished. This means it will be even worse than we thought.


Amazingly, some people still don't know (or refuse to see) just how bad things are going to be.

Some people will just try to ride this out, miserably.

Some people will try to plan ahead, buying land, food, guns and gold.

Some people will try to look for opportunities to profit as the world economy crashes.


The Obama Plan is doomed to fail.


What will YOU do?

[Joo Rip Gwa Rhhee]

I don't want hyperinflation. I just think the US is starting to run out of options.

[ontheway]

Since, the Obama Plan is doomed to fail ...

What the government SHOULD do:

1) Go back on a 100% gold standard, immediately.
2) Abolish all taxes on income and property at all levels of government.
3) Institute a 10% national sales tax to be shared by all levels of government: Federal, State and Local. Make 10% the maximum allowed under the constitution.
4) Prohibit deficit spending and prohibit all borrowing by government at all levels: Federal, State and Local.
5) Bring US troops home from around the world and shrink the military.
6) End all subsidies for business.
7) End all subsidies for transportation and energy use.
8.) Abolish social security, with apologies, for everyone under age 55.
9) Raise the retirement age to 72 for those between 55 and 64.
10) Use government assets to fund S.S. payments to those who are currently collecting. Privatize the fund. Then end Government payments into the fund.
11) Set a pay cap for government employees at the median level for full time workers in the US.
12) Set the same cap for members of Congress and the President and all their staff members.
13) Slash retirement benefits for Congress and former Presidents and other public officials.
14) Abolish all victimless crime laws and pardon those convicted.
15) Require that all spending and tax legislation get a 2/3 majority to pass Congress.


This is a short list of a few steps we need to take immediately if we really want to save the US economy and turn things around. This would be reasonable for Obama's first 100 days if he really wants to change and fix things. More radical steps could then be implemented throughout his 4 years.

[ontheway]

Apparently, the documented historical record that stimilus programs such as Obama's are doomed to fail has been researched by one of his own advisors. Obama economic advisor Christina Romer and her husband, David Romer published just such a study that demonstrated that fiscal stimuli do not induce economic recovery.


So, unlike Obama's claims that everyone knows we need a government boost to help the economy, the question is:

Why is it that, when nearly everone who is conversant in economics knows the program is doomed to fail, the Obama plan is still going forward?

We already know that keynsian socialism, like all forms of socialism, is doomed to fail. We already know that FDR made the Great Depression seven years longer with his programs. We know that the Smoot-Hawley tariff law caused the market crash and that the Federal Reserve caused the bubble that started it all, and all the recessions since, including this one.

So, why in hell do we need one more massive failure to prove once again what we already know?

[mises]

[bucheon bum]

[mises]