Economy & Politics


  • Economy & Politics
  • Investing
  • Personal Finance
  • Related Posts

    ‘Shocking’ Rise In Use Of Food Banks
    Republicans Prepare For Primary Fight In Wisconsin House Race
    Republican Super PAC Ad Attacks Club For Growth
    House Republicans Promote Seven Candidates
    Most GOP Presidential Hopefuls Steer Clear Of Bundy Ranch Discussion
    Liberty And Justice For All
    What Is Senator Harry Reid’s Involvement In Government Assault On Nevada Ranch?
    Ukraine “De-escalation” Voided As Pro-Russia Militia Refuse To Vacate Occupied Buildings
    ‘Hillary For President’ Fundraiser Busted For Illegal Campaign Contributions
    Putin’s Top 10 Q&A Quotes
    What Oil War Premium?
    Princeton Study Confirms ‘U.S. Is An Oligarchy’
    A Blueprint For Investing In Frontier Markets
    Guest Post: Liberty Movement Rising
    It’s Time To Ditch The Consumer Price Index (CPI)

    Economic Ridiculousness

    Some people might say the problem with America’s economic condition is self-evident in the sideshow that has come to represent the economic policy discussion in the Nation.

    As politicians and policymakers continue to attempt to work the American public into frenzy over the seriousness of the economic situation throughout the country, they continue to offer solutions that have little practical value to a Nation more than $16 trillion in debt.

    Federal Reserve Chairman Ben Bernanke suggested this week that the United States should eliminate the debt ceiling to allow government to spend at will. Bernanke’s reasoning is that the United States’ not raising the debt ceiling so that it can meet its financial obligations is like a family of debtors refusing to pay its bills.

    "This is sort of a family saying, ‘we’re spending too much, let’s stop paying our credit card bill.’ That’s not the way to get yourself in good financial condition," he said.

    Except a family of debtors doesn’t have the same ability to print money at will that the U.S. government has. That would mean, by Bernanke’s logic, a family of debtors unable to pay their bills should do what the Federal government already essentially does: borrow money it can’t afford to pay for the money it can’t afford to pay back.

    Meanwhile, such notable economists as The New York Times’ Paul Krugman are suggesting that the Nation could ease its economic problems by minting a trillion-dollar coin to pay down America’s debt. That’s such a comical suggestion that comedian and host of “The Daily Show” Jon Stewart probably has had the best explanation of anyone as to why it’s a bad idea.

    Stewart said in a recent taping of his show:

    I’m not an economist. But if we’re just going to make sh*t up, I say go big or go home. How about a 20 trillion dollar coin? Or maybe, just forget about it and do one of these, “Oh, I was digging through the White House couch cushions and Eisenhower must’ve left this one hundred quillion dollar bill laying around.

    When Krugman later suggested that Stewart was “ruining his own brand” by making fun of the trillion-dollar coin idea, Stewart responded, “If somebody is ruining their brand with a trillion-dollar coin idea, I don’t think it’s the non-economist.”

    Discuss this Story:

    Comment Policy: We encourage open discussion. Comments including racist statements, profanity, name calling or spam will be removed at our discretion. We use filters for spam protection. If your comment does not appear it is likely because it violates the policy.

    How Presidential Nominees Are Really Picked
    Vlad The Prevaricator
    Winnowing The Republican Presidential Field
    Obama Will Probably Still Fail His Midterms
    Jews In Eastern Ukraine Told To Register With Pro-Russian Forces, Or Else
    Only 8% of Republicans Say Contraceptive Use Is “Morally Unacceptable”
    Compensation Battle Rages Four Years After BP’s U.S. Oil Spill
    Japan Investment In Southeast Asia Surges Amid China Slump
    Apache CEO, Vermont Activist Build Alliance On Climate Issues
    Did Putin Just Announce That He Is Annexing Eastern Ukraine?
    IRS Stalks Taxpayers On Social Media To Determine Whom To Audit
    Obama Budget Plan Would Boost Tax Revenues, Cut Deficits: CBO
    The Real Economy Is Now Doing Better Than The Money Economy
    The Fed’s Puzzling Uncertainties
    The Rich Man And Lazarus’s Big Gulp
    The U.S. Government: Paying To Undermine Internet Security, Not To Fix It
    Obamacare Data Manipulated By White House-Directed Change In Census Survey
    Parsing The Obamacare Debate
    Why Is Public Television Against Public Schools?
    ‘Kissing Congressman’ McAllister Ducks Tea Party Rally For Counseling
    The Common Core Problem
    The Next US Sanctions May Target Russia’s Own Darth Vader
    Californians Realize They Pay The Government Too Much In Taxes
    Millennials Are Growing Up (Sniff)
    Nudging Taxpayers To Do The Right Thing
    Ukraine Crisis Could Hit Russian GDP
    Rural Population Continues To Decline In The U.S.
    3 Dead After Shootings At Jewish Centers In Kansas
    It Is Precious To Them
    Ranchers Claim Victory As Bureau Of Land Management Pulls Out Of Bundy Operation
    Read more from Economy & Politics...

    Liberty Investor Digest

    Get today's most important
    financial headlines all in
    one place by email!



    Sign Up For Liberty Investor Digest™!

    Get Liberty Investor Digest FREE By Email!

    Input your name and email address in the fields below and get today's most important financial headlines sent straight to you inbox!

    Privacy PolicyYou can opt-out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.