Linux photography software
Michael Hipp
Michael at hipp.com
Fri Nov 28 12:36:43 PST 2008
Bill Campbell wrote:
> I trust all political parties. I trust them to lie, steal, and
> murder if necessary to promote their own power.
>
> Government has only three ways to get revenue, taxation, inflation,
> and borrowing. Inflation (printing fiat currency) is far the
> easiest as most people don't realize that it's a hidden tax.
>
> The current economic crises in the U.S. and the rest of the world
> are not surprising to economists of the Austrian school, and are
> the inevitable result of government attempts to control the
> economy through Central banks (the Federal Reserve in the U.S.)
> and fiat money. Reading books like Murray N. Rothbard's
> ``America's Great Depression'', ``Panic of 1819'', and ``A
> History of Money and Banking in the United States'' one will see
> that it was government intervention that prolonged an 18-24 month
> recession into over a decade of depression.
>
> People who say that it's a failure of the free market that caused
> the current problems should ask themselves when we last had a
> free market. In a free market, who would willingly lend money to
> anybody that did not have the ability to repay the loan?
Well said, Bill.
Michael
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