MAY 12, 2008


"I am for a government rigorously frugal & simple, applying all the possible savings of the public revenue to the discharge of the national debt; and not for a multiplication of officers & salaries merely to make partisans, & for increasing, by every device, the public debt, on the principle of it's being a public blessing." -- Thomas Jefferson, Letter to Elbridge Gerry, January 26, 1799

COMMENT: Have you noticed that the proponents are no longer calling it "global warming?"  Now they are calling it "climate change."  That means they will still be able to support their cause even if temperature and CO2 emmissions go up or down, because the climate is always changing.  Perhaps we should be more worried if the climate DOESN'T change.

COMMENTARY:  What is inflation and is it a problem?  Well, first you need to know the definition of what inflation is in an economic sense.  Please see:  http://www.americanissuesforum.com/whatisinflation.html

What if inflation is not brought under control and the politicians continue to enact ever more government programs creating an ever widening gap between what the government receives in revenues and what it spends.  Sounds familiar doesn't it.

As it happens we do have a real world example of how bad it can get if inflation is allowed to grow, and grow, and grow.

Here are some links to articles on what happened and how it happened.  It is well worth your time to read them so you will understand how insidious inflation can be.

http://ingrimayne.com/econ/EconomicCatastrophe/HyperInflation.html
http://www.economist.com/diversions/millennium/displayStory.cfm?story_id=347363
http://www.missouriwestern.edu/orgs/germanclub/inflation.html
http://www.usagold.com/germannightmare.html
http://www.econlib.org/library/Enc/Hyperinflation.html
http://www.pbs.org/wgbh/commandingheights/shared/minitext/ess_germanhyperinflation.html
http://www.joelscoins.com/exhibger2.htm

Want some visual examples? 

Here is a picture of a Bavarian bank note from that era.  The face value is 500,000,000,000 marks:  http://www.americanissuesforum.com/bavaria500billionmarks.jpg

Want another example?  Here is a photo of a postage stamp from Germany in that period.  Its face value is 5,000,000,000 marks:  http://www.americanissuesforum.com/5billionmarkspostage.jpg

Well, class, I hope that if you didn't already understand the problems created when governments spend more that they collect in revenue I hope you do now.  It isn't government spending that is a problem, it is spending in excess of revenues.  Keep this lesson in mind the next time you step into the voting booth.  You do vote don't you?

LINKS:

A lesson from New Zealand on government vs private business (this is a repeat, but there are a lot of new recipients of this missive):  http://www.hillsdale.edu/news/imprimis/archive/issue.asp?year=2004&month=04

Obama speaks with forked tongue
http://littlegreenfootballs.com/article/29896_Obama_Changes_His_Unconditional_Position_-_Update-_Video_Added#rss

New York lawyers request ban on any mention of the provisions of the US Constitution:  http://nysun.com/news/new-york/gag-2nd-amendment-city-s-aim-guns-suit

Taxing cow farts.  No kidding!  It's just an extension of the global warming farce:  http://en.rian.ru/world/20080508/106906451.html?haha

You mean you don't know???:  http://boortz.com/images/funny/whos_your_daddy.jpg

Obama ignoring the constitution:  http://www.newsweek.com/id/134316/page/1

First Carter, now an Obama advisor, BUT, Obama can't stand the exposure:  http://www.timesonline.co.uk/tol/news/world/us_and_americas/us_elections/article3897414.ece#cid=OTC-RSS&attr=2015164

Ag Secy say ethanol not causing higher food prices.  Hmmm!:  http://washingtontimes.com/article/20080510/NATION/287642439

The list of who donates to the UN World Food Program (the highest OPEC nation is #27 on the list):  http://www.foxnews.com/projects/pdf/donorsprevious.pdf

Sharpton owes $1.5 million in back taxes:  http://www.msnbc.msn.com/id/24545747/

Be suspicious of any article that uses phrases as "fair share," and "percentage of taxes paid:"  http://www.charlotte.com/409/story/616499.html

Reaping the whirlwind created by decades of liberal controlled education:  http://www.wfaa.com/sharedcontent/dws/wfaa/latestnews/stories/wfaa080509_jh_disdcollege.e5ca60c9.html

18-year old fails to get GED.  Father jailed:  http://www.wcpo.com/news/local/story.aspx?content_id=28d2acca-9947-44cc-8831-9859f1f6137e

In Tennessee some state employees fired because they were home schooled:  http://www.knoxnews.com/news/2008/may/07/diploma-measure-still-faces-hurdles/

Liberal government in action:  http://www.local10.com/news/16210168/detail.html

Restaurant patrons favor "gun carry laws."  True?  False?:  http://www.local10.com/news/16210168/detail.html

At a Walgreens an RN saves woman in diabetic coma by using items off the shelf in the store.  Walgreens bills nurse for items used:  http://consumerist.com/5008291/walgreens-thanks-nurse-for-rescuing-comatose-diabetic-by-sending-her-glucometer-bill

TOONS
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