Ben Sargent, the retired genius cartoonist for the Austin American-Statesman got it just about right, I figure:
Ben Sargent, the retired genius cartoonist for the Austin American-Statesman got it just about right, I figure:
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(The Life of Reason, vol. 1: Reason in Common Sense)
Or, until that account is unsuspended by the forces supporting Donald Trump:
Follow @FillmoreWhite, the account of the Millard Fillmore White House Library
Retired teacher of law, economics, history, AP government, psychology and science. Former speechwriter, press guy and legislative aide in U.S. Senate. Former Department of Education. Former airline real estate, telecom towers, Big 6 (that old!) consultant. Lab and field research in air pollution control. My blog, Millard Fillmore's Bathtub, is a continuing experiment to test how to use blogs to improve and speed up learning processes for students, perhaps by making some of the courses actually interesting. It is a blog for teachers, to see if we can use blogs. It is for people interested in social studies and social studies education, to see if we can learn to get it right. It's a blog for science fans, to promote good science and good science policy. It's a blog for people interested in good government and how to achieve it. BS in Mass Communication, University of Utah Graduate study in Rhetoric and Speech Communication, University of Arizona JD from the National Law Center, George Washington University
Morgan writes:
Morgan_ What is the backing of a Federal Reserve Note? Faith.
What? You’d have us go back on the gold standard? Are you seriously that out of your mind crazy? Seriously, Morgan, if you think we should go back on the gold standard you are a lunatic worthy of being locked up in an insane asylum. Here I’ll give you an example of what going back on the gold standard would mean for you personally. Take all the money from your wallet and burn/shred all but a dollar of it.
Why? Because there isn’t enough gold on the planet to cover the amount of US Currency in circulation worldwide.
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Morgan writes:
Progs don’t seem to have fully thought out where money comes from because they obsess to the point of lunacy about where it goes.
Well Cons delusionally think that if you give all the money to the richest 10% of the population that the rest of the 90% will somehow magically have sufficient money to live on. Then there is the delusion that if you give more money in the form of tax cuts to the richest 10% they will create jobs and economic prosperity for everyone despite the fact that has never worked yet and never will work.
Then there is the Cons obsession to the point of lunacy that you can cut taxes to nothing and still have a functioning country of over 300 million people.
Not once in 40 years, Morgan, has the right wings economic theories ever worked. Not once. What has to happen for you and Lower and the rest of your fellow delusional right to realize that?
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Money comes from labor applied to resources. Haven’t you read even one of the classic conservative economists?
Klavan’s piece is so . . . so far out, it isn’t even wrong.
My fear is that conservatives actually fail to understand how value is created, and think that money grows when it is transferred around in large chunks. No one seriously believes money comes from desire. Unless, of course, they’ve been struck by a streetcar named “Desire,” and it scrambled their brains.
Did you intend that for comic relief, Morgan? Surely you don’t give credence to anything Klavan said. Do you?
Here, read some Adam Smith, and quit letting your virtual tongue wobble around in your virtual head without purpose like that:
Liberals agree with the economists that money comes from labor working on resources, often magnified with an infusion of capital.
You seem to think money comes from a magical incantation of “No taxes” and “screw the workers.” Not so, nor would any economist agree.
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So what’s that tax rate?
Anyway, I didn’t say I could prove you wrong about “printing” money…just as you can’t prove me wrong when I say there are people out there producing real goods and services, which are valuable, and some of the dollars we exchange represent this value.
But your opinion, as you’ve represented here, fully justifies the generalization made by Andrew Klavan: Progs don’t seem to have fully thought out where money comes from because they obsess to the point of lunacy about where it goes. Funny thing is, the real problem you’ve identified — money representing nothing, intermingling with the rest of the money and causing nightmarish inflation — is exacerbated by the lefty vision in which all an increasing share of the transactions, ultimately all of them are conducted according to government fiat, and a diminishing share of the transactions, ultimately none of them, are conducted freely by the parties taking part in them. So even when libs correctly identify the problem (caused by them) their proposed solution is the polar opposite of what would be needed to constructively address it.
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Morgan_ What is the backing of a Federal Reserve Note? Faith.
The chairman of the Federal Reserve has to produce no goods, control no extra assets or secure no indentures of labor in order to increase the monetary supply.
They don’t even PRINT the money anymore.
They have a number generator that creates unique numbers for each denominated debt on a computer. Not even thin air. Electron bubbles on a hard drive
Prove me wrong. You can’t.
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Off topic comment Morgan but the facts are…
++snort++
When liberals say “the facts are” what they mean is “my simmering resentments which I pretty much pulled out of my ass, are…”
Hey, what’s the highest marginal tax rate upon these poor debt slaves? On average?
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The problem, Mr. lowerleavell, is that the price that the GOP is lowering is the price of YOUR labor. It’s called a “race-to-the-bottom” and is a race that no country has ever won.
Off topic comment Morgan but the facts are that Federal Reserve Notes are created out of thin air and lent preferentially to very wealthy people. People who actually make goods and services are forever in debt slavery because more money is demanded from them than was originally borrowed from the wealthy.
It’s a system that’s bound to crash since you cannot repay exponentially growing world debt on a finite planet.
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Where do liberals think money comes from?
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Two opposing ways to drum up sales – drive prices sky high so anyone who shops there will pay a fortune for the privilege…though you drive away a ton of business to your competitors in the process, or two, keep prices as low as possible so that the consumer will be confident that they are getting the best bang for their buck?
I like that latter better. Apparently liberals disagree.
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So two weeks ago it was “We know what Reagan would say” and this week it’s run government like a business. Heheh. I don’t know if this running political campaigns around Twitter is going to work out for you. But it’s hard not to look at a wreck, so I’ll keep watching.
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Oh you forgot “fire workers and ship their jobs overseas while paying themselves ever larger salaries and bonuses.” while the Republicans protect the tax breaks you get for shipping jobs overseas.
Or “Fire employees because of supposed strained finances while paying yourselves ever larger salaries and bonsues.”
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That cartoon is so spot on. Thanks for sharing that, Ed.
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You should write for Harry Reid.
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They ARE running government like a business.
That business is ENRON.
Loot the till, loot the employees pension funds, loot your customers and don’t provide any services.
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