Wednesday, March 23, 2011

PAUL PRENTICE on Japan, Keynes, the Fed

Below is a short article from my friend and colleague Paul Prentice about the Japan crisis, Keynesianism and the Fed.

Date: Tue, 22 Mar 2011 21:07:35 -0600
Subject: [PPEC Austrian] News

Comments by Craig:

No government program, agency, transfer of wealth or subsidy of which I am aware ever improved an economy. All, however, greatly benefit some at the expense of others, in exactly the same way as the Mafia.

If the Fed improved the economy, we should all have money printing equipment in our basements.

If legal theft (taxation) were good for the economy, then common thieves should get medals and victims of robbery should serve milk and cookies to their benefactors.

If the wars on some drugs, some poverty and some terrorists worked, they would be over by now.

If "public service" were a noble profession, politicians and  bureaucrats would be the most highly trusted members of society and government would offer a moneyback guarantee.

If mass hysteria were an appropriate response to disasters, Hollywood would be the capitol of the world.

Although, maybe it already is.

Come to think of it, the primary purpose of every government on Earth is to legalize fraud, theft, extortion and murder - as long as it is committed in the PUBLIC INTEREST with the illusion of being unselfish (which it never is).

James Craig Green

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