Selected perspectives on world affairs, politics and society.
Who is Making Billions from the Iran War?
Endless war produces more corporatism, where the private sector does not exist to provide goods to compete in the free market, but to serve political power and strengthen governmental control over the population. Think of it as welfare for the rich at the expense of the poor. The result is tyranny.
And if you don’t support the wars? You get the Thomas Massie treatment.
The US Government’s Really Big Debt Problem
The main reason why increasing revenue does not reduce government debt is because Congress will inevitably spend the new revenue rather than use it to reduce the debt. This is because the interests benefiting from increased warfare and welfare spending are numerous and influential while the supporters of limited, constitutional, and fiscally responsible government are comparatively few and noninfluential.
One of the problems with this theory is deficit spending itself inhibits economic growth by causing the Federal Reserve to monetize the federal debt. The Fed lowering interest rates and increasing the money supply distorts the signal interest rates send to market actors. This distortion causes the boom-bust cycle that plagues the American economy.
The archive preserves what people said at the time. Older views and forecasts are not presented as current statements. Context provides supporting details; Read opens the source.