Oct 26, 2012

Summary of "Socialism", Keynesian Economics & "Road to Serfdom" (by F.A.Hayek)

"Although history never quite repeats itself, and just because no development is inevitable, we can in a measure learn from the past to avoid a repetition of the same process. One need not be a prophet to be aware of impending dangers. An accidental combination of experience and interest will often reveal events to one man under aspects which few yet see." Road To Serfdom - Page 1 (All quotes of F.A. Hayek are from his book "The Road To Serfdom" published in Routledge Classics 2001 by Routledge)

The following is a quick summary using a few images from Readers Digest's condensed version of "The Road To Serfdom" 

1 - War forces "national planning": To permit total mobilization of your country's economy, you gladly surrender many freedoms. You know regimentation was forced by your country's enemies.

"Modern" Parallels: 

Enemies of The Constitution?

Patriot Act SIGNED INTO LAW by Bush. 

NDAA: The Biggest Election Issue No One's Talking About

On December 31, 2011, President Obama signed the National Defense Authorization Act (NDAA), codifying indefinite military detention without charge or trial into law for the first time in American history. The NDAA’s dangerous detention provisions would authorize the president — and all future presidents — to order the military to pick up and indefinitely imprison people captured anywhere in the world, far from any battlefield.    

That means that the age of benovalent VS vicious tyrants/despots has begun (explained in greater detail here). Just like what has happened to all civilizations before ours (Arnold Toynbee) OR what happened to the Roman Civilization (Ron Paul). [Note: Last I heard the NDAA had been shot down by a judge and the Obama Administration was protesting. We still have the ability to protest. While under Bush we didn't (see Cheney's secret assassination squad thing below).]

Related Quote from Road Tro Serfdom: Chapter Two - Hayek

"There can be no question that adequate security against severe privation will have to be one of our main goals of policy. But nothing is more fatal than the present fashion of intellectual leaders of extolling security at the expense of freedom. It is essential that we should relearn frankly to face the fact that freedom can be had only at a price and that as individuals we must be prepared to make severe material sacrifices to preserve it.

We must regain the conviction on which liberty in the Anglo-Saxon countries has been based and which Benjamin Franklin expressed in a phrase applicable to us as individuals no less than as nations: "Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety."

Toward a Better World

TO BUILD a better world, we must have the courage to make a new start. We must clear away the obstacles with which human folly has recently encumbered our path and release the creative energy of individuals; We must create conditions favorable to progress rather than "planning progress. " It is not those who cry for more "planning" who show the necessary courage, nor those who preach a "New Order," which is no more than a continuation of the tendencies of the past 40 years; and who can think of nothing better than to imitate Hitler. It is, indeed, those who cry loudest for a planned economy who are most completely under the sway of the ideas which have created this war and most of the evils from which we suffer. The guiding principle in any attempt to create a world of free men must be this: A policy of freedom for the individual is the only truly progressive policy."

2 - Many want "planning" to stay: Arguments for a "peace production board" are heard before the war ends. Wartime "planners" who want to stay in power, encourage the idea.

This is what Fox News and the GOP wanted in 2008/9. Kinda. They wanted downward adjustments in everything but war spending... AND STILL DO! (i.e. part of what Ron Paul calls 'militarism').

In the above video you can clearly see that every "independent" spokesperson - from the GOP-Republicans - had the SAME solution for US ECONOMIC problem (i.e. financial crisis created by the Bush wars). War. i.e. more war.


BTW, the way Fox News reacted reminds me of this: "When the course of civilisation takes an unexpected turn, when instead of the continuous progress which we have come to expect, we find ourselves threatened by evils associated by us with past ages of barbarism, we blame naturally anything but ourselves." The Road To Serfdom - Page 10

Which in turn reminds me of the quote by C.S.Lewis that not only do people lack patience, this lack of patience and understanding can be used by evil people to do evil things, i.e.

“Whatever he says, let his inner resolution be not to bear whatever comes to him, but to bear it 'for a reasonable period'--and let the reasonable period be shorter than the trial is likely to last. It need not be much shorter; in attacks on patience, chastity, and fortitude, the fun is to make the man yield just when (had he but known it) relief was almost in sight.”― C.S. Lewis, The Screwtape Letters

Related F.A.Hayek Quote:

"But while the progress towards what is commonly called "positive" action was necessarily slow, and while for the immediate improvement liberalism had to rely largely on the gradual increase of wealth which freedom brought about, it had constantly to fight proposals which threatened this progress. It came to be regarded as a "negative" creed because it could offer to particular individuals little more than a share in the common progress-a progress which came to be taken more and more for granted and was no longer recognised as the result of the policy of freedom. It might even be said that the very success of liberalism became the cause of its decline. Because of the success already achieved man became increasingly unwilling to tolerate the evils still with him which now appeared both unbearable and unnecessary." The Road To Serfdom - Page 19

Strangely enough the current GOP-Republican facism originates not just from communist Russia (as with the Koch Brothers)... but from Nazi Germany of WW2 itself! Talk about strange.,.

Rise Of The GOP Neo-Nazi's & The Cult Of Romney

Does the year 1945 marks the end of science?

Related F.A Hayek quote:

"Although most of the new ideas, and particularly socialism, did not originate in Germany, it was in Germany that they were perfected and during the last quarter of the nineteenth and the first quarter of the twentieth century they reached their fullest development. It is now often forgotten how very considerable was the lead which Germany had during this period in the development of the theory and practice of socialism, that a generation before socialism became a serious issue in this country, Germany had a large socialist party in her parliament, and that till not very long ago the doctrinal development of socialism was almost entirely carried on in Germany and Austria, so that even to-day Russian discussion largely carries on where the Germans left off; most English socialists are still unaware that the majority of the problems they begin to discover were thoroughly discussed by German socialists long ago.

The intellectual influence which German thinkers were able to exercise during this period on the whole world was supported not merely by the great material progress of Germany but even more by the extraordinary reputation which German thinkers and scientists had earned during the preceding hundred years when Germany had once more become an integral and even leading member of the common European civilisation. But it soon served to assist the spreading from Germany of ideas directed against the foundations of that civilisation."  The Road To Serfdom - Page 22

5 - And citizens can't agree either: When the "planners" finally patch up a temporary plan months later, citizens in turn disagree. What the farmer like, the factory worker doesn't like.

featured lens

Bill Moyers Is Back! (Part 1 - On Politics)

Bill Moyers is Back! ( Part 2: On Banks and Wall Street )

8 - The gullible do find agreement: Meanwhile, growing national confusion leads to protest meetings. The least educated - thrilled and convinced by fiery oratory - forma party.

The Case for Indicting the Murdochs for Treason (*as per The US Constitution)

Fox News Caught Lying ( lol! Fox News is always getting caught in lies!)

The housing bubble was created by the FED and Bush, which led to the largest job loss in history UNDER GEORGE BUSH'S WATCH... Obama has almost got us back to where we were before Bush and his Wrecking Crew, i.e. ...


As for why jobs haven't come back in full from the largest job loss in history under Bush's watch... can be explained by JUST one Federal Policy which was SPED UP under Bush's Watch (i.re. off-shoring/outsourcing)...

EXCLUSIVE: Romney Invested Millions in Chinese Firm That Profited on US Outsourcing

[Obama's Speech] Have A Cold? Take Two Taxcuts, Roll Back Some Regulations...

"It cannot be denied that there is yet little recognition of the positive ideals for which we are fighting. We know that we are fighting for freedom to shape our life according to our own ideas. That is a great deal, but not enough. It is not enough to give us the firm beliefs which we need to resist an enemy who uses propaganda as one of his main weapons not only in the most blatant but also in the most subtle forms." The Road To Serfdom - Page 5

"The attitude of the liberal towards society is like that of the gardener who tends a plant and in order to create the conditions most favourable to its growth must know as much as possible about its structure and the way it functions." The Road To Serfdom - Page 18

To take action without research makes you dumb... NOT patriots.

12 - A negative aim welds party unity: Early step of all dictators is to inflame the majority in common cause against some scapegoat minority. In Germany, the negative aim was Anti-Semitism.

"When the course of civilisation takes an unexpected turn, when instead of the continuous progress which we have come to expect, we find ourselves threatened by evils associated by us with past ages of barbarism, we blame naturally anything but ourselves." The Road To Serfdom - Page 10

How Fox News Lies To You; Frank Luntz Explains...

Has Fox News Become A Cult Of UN-Constitutional Capitalists? (The answer is YES.)

[Bot Bites] The Hypocrisy of the Anti-Muslim Propaganda from Fox News and the GOP

Christian Fundamentalism/Terrorism ( "You kill a group of people, your insane. You kill hundreds of thousands of people and you're a conquerer. Blame others for your sins and kill them... you're a patriot!)

Election strategy of the last four years (and now suddenly Romney is trying to play nice! but the beliefs of the masses have been set)...

“Whenever all men are...hastening to be slaves or tyrants we make Liberalism the prime bogey.” ― C.S. Lewis

Above: Fox News gets upset because a democrat used their own 'Nazi' tactic on them.

Destabilizing society to make it easier for war? Or just to be mean?...

Quick Proof: An increase in income inequality was a factor in the UK riots (This is true historically as well, ex. French Revolution occurred during bad economic times) - "The majority of areas where suspect live are deprived - and 66% of them got poorer between 2007 and 2010, when the last survey was published • 41% of suspects live in the 10% most deprived places in England"

When society breaks down OR starts to break down, certain types of behaviors become more and more common. People imitate each other. It's how a kid learns i.e. it's basic to human psychology. People killing others OR engaging in more and more violent crimes such as child abuse will become more and more common as more and more people engage in such behavior. Here are the sort's of behaviors influence by rumor and paranoia...

‎1. Too much of a spread in income inequality - (that is why the really rich with foresight/understanding have bunkers) .

Riot girls 'brag' about violence: The BBC has spoken to two girls that took part in Monday nights riots in Croydon, who boasted that they were showing police and "the rich" that "we can do what we want".

‎2. Entertainment - "He says looting makes "powerless people suddenly feel powerful" and that is "very intoxicating".

What turns people into looters?: Many in the UK are reeling after days of images of brazen thefts and wanton damage during the riots, but just where is the tipping point when people think they can start looting?

3. Breakdown of economy through inappropriate economic strategy because of a new fundamentalist right wing movement

[that is cover for unconstitutional capitalism Has Fox News Become A Cult Of UN-Constitutional Capitalists? or more accurately the robber baron days of fuedalism that the US Constitution was trying to solve ] - no jobs or 'stake' in social order - bad people taking advantage of a bad situation - people with nothing else to do (but are not hurting others) and are there for fun etc. (general composition of riots). [Views from around the world on BBC]

 4. Simple opportunity for lawlessness caused by the breakdown of infrastructure

[The last blackout (which I was in the city for in NY) managed to avoid rioting by calling out all the cops... Wisconsin model... which is the same as the GOP's model is to cut cops, firemen and other civil services. If thier is a riot many people will die unnecessarily].

5. Normal behavior motivated by greed or heartlessness or simply living by the law of the streets - an example of a complete breakdown of law  [an example of what happens when people in suits are in a lawless environments can be seen by our ongoing financial and economic crises]

Injured boy mugged during riots: A group of youths help an injured boy to his feet and then steal the contents of his bag during disturbances in Hackney on Monday.

 6. Underlying tensions (social reasons)

Some general trends you can expect as the US social order continues it's collapse...

The many perspectives on the Britain riots 

The LA riots were much more violent (there is literally no comparison) 

The anger at the violent reaction created its own mass movement

The problem of the rumor mill that leads to mass hysteria (at local, national or global levels) and is something that the US media does on a regular basis with its fear marketing (though that may have gone down?), Fox news has taken this fear mongering to criminal levels(IMO)...

Once a society is sufficiently broken down, then all you need is a trigger, i.e. a match to start the fire...

This is a video that describes the vivid imagery that sparked the riots (shot in the face)

1. The west Indian writer above was referring to the 1981 Brixton riots  ; This may show that this breakdown in society has grown overtime (a few more data points needed)

2. Another look at the Brixton riots through the specific trigger for the riots - "So tensions were running high – but like the riots that began in Tottenham last Saturday, the Brixton riots were sparked by a specific incident.

“A guy got stabbed and the police officers turned up,” Thomas said. “They were more concerned with finding out who stabbed him then actually reacting to the fact that he had been stabbed, critically. And he needed to go to the hospital.”

3. "There were plenty of ingredients before the weekend to fuel a genuine challenge to the police and a justified demand for answers. Mark Duggan is the latest in a very long line of deaths in police custody or police supervision. Recently, the reggae artist, Smiley Culture, was alleged to have taken his life with a kitchen knife in his own home while under police arrest."

More Details Of How The GOP-Republicans Have Been Breaking-Down/De- US Society...

The Koch Brothers ARE Waging War On Obama & US Citizens!

Roots Of Genocidal Tendencies In The United States

"Poverty is the parent of revolution & crime" Aristotle (click this link to learn EXACTLY how the GOP's divisive tactics works)

More Info: Rush Limbaugh  GOP's strategy is to take baseless, unresearched rumor as fact

Note: The GOP-Republicans are also playing a reverse strategy - (excess freedom/liberty), i.e. by making crazy gun laws and messing up the educational system (I can trace bad textbooks to Texas, GOP territory)... the GOP is not only putting citizens lives in danger from crazy gunmen but also creating opposition towards the second amendment so they can demonize the left some more! (not to mention extra societal cahose makes it easier to pass laws in the heat of the moment that are not in societies long-term interests  As the decisions above make apparent?

About Guns And Gun Laws In The US

Guns, Gun Laws & Getting Illegal Guns OFF The Street!

13 - No one opposes the leaders plan: It would be suicide; new secret police are ruthless. Ability to force obedience always becomes the No. 1 virtue in the "planned state". Now ALL freedom is gone.

Big Oil  the Federal Government

What's Up With The Banking Scandals & Criminal Subterfuge?

Rise Of The GOP Neo-Nazi's & The Cult Of Romney

Is Mitt Romney Connected To Leaders (past & present) Of Death Squads?

From 'The Colbert Report': Cheney's Secret Assassination Squad
It's hard to believe Dick Cheney had the time to command a secret lawless assassination squad with all the secret lawless torture. (02:10)

16 - Your thinking is "planned": In the dictatorship, unintentionally created by the planners, there is no room for difference of opinion. Posters, radio, press - ALL TELL YOU THE SAME LIES!


To say that nobody knew that Iraq could last a long time is inaccurate. In 1994 Dick Cheney said that 'if we removed Saddam, what would we put in it's place?', even went so far as calling it a quagmire...

BUSH ADMINISTRATION'S AFTER:  Even worse, an investigation shows that the evidence suggests that the Bush Administration 'exaggerated and misrepresented' the case for war against Iraq...

The result of 8 years of GOP-Republican rule is that thier neocon "allies" now infiltrate all aspects of public life.

Fox News IS A Part Of The Federal Government! (AND They Are Making Up Polls & News!)

'GOP-Republicans control 90% of news media and thier revenue sources'. Senator Bernie Sanders http://www.thedailyshow.com/watch/wed-april-27-2011/exclusive---bernie-sanders-extended-interview-pt--1 

18 - Your discipling is "planned": If you're fired from your job, it's apt to be by a firing squad. What used to be an error has now become a crime against the state. Thus ends the road to serfdom!

[Case Study] Hypocrisy Concerning "Occupy Wall Street" By The GOP and Fox News (reprint-compilation)

"God's Christian Warriors" & The Beginning Of The End For Christianity?

Rick Santorum, Paul Ryan, Todd Atkin Of "The Party Of Rape & War"

Thus begins the road to servitude to masters you're (USA) too scared of to speak against.

In Depth...

Keynesian Economics - Old School Theory (From The Concise Encyclopedia Of Economics):

Keynesian economics is a theory of total spending in the economy (called aggregate demand) and its effects on output and inflation. Although the term has been used (and abused) to describe many things over the years, six principal tenets seem central to Keynesianism. The first three describe how the economy works.

1. A Keynesian believes that aggregate demand is influenced by a host of economic decisions—both public and private—and sometimes behaves erratically. The public decisions include, most prominently, those on monetary and fiscal (i.e., spending and tax) policies. Some decades ago, economists heatedly debated the relative strengths of monetary and fiscal policies, with some Keynesians arguing that monetary policy is powerless, and some monetarists arguing that fiscal policy is powerless. Both of these are essentially dead issues today. [i.e. studies have shown that these policies can have an effect, both positive and negative, depending on circumstances. A lower interest rate for an emergency in the short run makes sense. As a consistent policy, it doesn't]

Nearly all Keynesians and monetarists now believe that both fiscal and monetary policies affect aggregate demand.

Aggregate demand IS based on ALL the choices that individuals and businesses and government contractors  (contractors is how Governments create jobs Romney) etc. make. That means all the choices of buying made in a country's economy all added up together equals 'aggregate demand'.

4. Keynesians do not think that the typical level of unemployment is ideal—partly because unemployment is subject to the caprice of aggregate demand, and partly because they believe that prices adjust only gradually. In fact, Keynesians typically see unemployment as both too high on average and too variable, although they know that rigorous theoretical justification for these positions is hard to come by. Keynesians also feel certain that periods of recession or depression are economic maladies, not, as in real business cycle theory, efficient market responses to unattractive opportunities.

Interesting enough, based on this, Hayek and Ron Paul are both Keynesians! lol!

Keynesian Economics - Old School Theory (From The Concise Encyclopedia Of Economics): 5. Many, but not all, Keynesians advocate activist stabilization policy to reduce the amplitude of the business cycle, which they rank among the most important of all economic problems. Here, however, even some conservative Keynesians part company by doubting either the efficacy of stabilization policy or the wisdom of attempting it.

Switching from fiat currency to a precious metals based currency such as Gold, Silver, Titanium(?), Platinum etc. is a form of stabilization i.e. it would help moderate inflation. It has become a fad in political circles to assume that inflation would cease to exist if we switched back to a gold standard. This is outdated by about 50 years. Nowadays the exchange is free floating. This means that even Gold has 'boom - bust' cycles  i.e. depending on other factors the price of gold goes up and down and can even end up in a bubble. To minimize gold bubble problems if it is put into a currency we have to 1. Use as many metals as possible so the concentration of gold or silver or any one metal in the hands of a few people or in a few countries doesn't cause it's own long term socialist/fascist/corporatism problems. - 2. Have a very slow infusion period in the style of the old style gold promissory notes that the ancient jewellers use to issue. i.e. For every dollar of currency out in circulation there should not only be an equal amount of gold/silver but also more (like how a 'reserve' functions in a bank) to cover the bubble problem (which is bound to happen in a free floating exchange rate... this is something that old people can't visualize properly because it was one of the results of freeing up the markets. To old people who are familiar with these ideas, as soon as a market becomes freerer it's also supposed to make people better off. That's dumb.) - 3. Allow small communities like States or cities to start. - 4. There is no rush because the worlds economy has been off precious metals for a while and moving metals to the economic position of a currency needs to be done slowly so there are no problems (like pursuing a war for gold... we just got done with a war for oil, lets not start a new mineral genocidal adventure?).

Note: Personally I don't care about returning to precious metals. Going back to precious metals as currency is mostly an old person thing. i.e. right-wing/libertarian economists from the 1970's (before all the privatizations carried out under F.A.Hayek's influence happened, which haven't been taken account into thier theoretical models because thier ability to adjust to the changing global economy ended in the 1970's. Why? I think people such as Ron Paul put together a plan and then became obsessed with the plan. Half of this plan has already been hijacked so pursuing this plan, politically, could be disastrous for the US & global economy unless some proper economists are involved in straightening this mess out - Paul Krugman isn't one of them). Old people are always complaining about how much more things cost. How burgers used to be 10 cents. Only difference is Ron Paul is doing something about it.... i.e. returning to the currency system of his childhood. Returning to some lost golden age is always what happens to a dissatisfied minority who, through constant shouting, often get everyone believing that the previous age really was better. In most cases, there was simply too little information available to the people concerned of that time. For example; based on GOP policies, we know now that incest and rape is not only common in the South it has actually increased under the new Texan Governor Rick Perry i.e. there is a decrease in women's rights & increase in child abuse (and he's not in prison i.e. this is normal for Southerners!). 50 years ago this information would not be available to people (back when this problem was probably greater). So people living in a dream world will often think thier idealized version of the past really existed when it didn't. This problem is covered by Eric Hoffer in his books "True Believer"  and "The Passionate State of Mind". Moving on.

Inflation can be controlled in many ways. However, there is a problem of leaving too much up to a small group of people in any form of government as it inevitably leads to corruption as 'a little power corrupts' just as effectively as 'absolute power corrupts completely' (that's why State Governments are separate from Federal Governments in the US Constitution). The best solution is to find a way to stabilize the environment/country/economy for individuals to begin to prosper and let them take over the direction of where society will go in it's innovation and education.

Currently the system constrains that, especially the educational system in the US and Texas... in fact, I personally support isolating Texas from being involved in just about anything as that's the Nazi Homeland since World War 2 (probably because of the transfer of scientists as war booty after killing Hitler... but these scientists were allowed free reign and now thier "Neo" Nazi groups are all over the South!). Texas is also the source of most, if not all, of the US & global economic and social problems. The new Nazi terrorists in Europe (such as Andre and others that got caught before going on a killing spree) seem to have thier philosophical origins in the USA. ALSO, we have some very big problems we have to deal with or humanity's future is very bleak (such as this, this and this). Going nuts over returning to a money system that old people who have read maybe one of two books in thier lives (besides a bunch of approved textbooks) have become obsessed with, is risky and dangerous.

The problem is that when things are going badly people begin to think that returning to some past 'golden age' is the way to salvation. This desire to return to the past is common but illusory. Ron Paul wants to go back to the Gold Standard (it's impossible to go back to just one precious metal as 'currency' anyways - given supply so I'm glad he included Silver in his plan. But just two metals isn't enough). The lost Christians want to return to the Garden of Eden and thier preachers have driven them to madness. The GOP leaders want to bring the Old Testament and it's Patriarchal form of woman control and marriage back to the present. The Muslims are lost and angry. The Libertarians are being manipulated by the Koch brothers and are extremely confused. So if allowing precious metal based currencies will make some depressed people happy, then my position is to give it to them. Just allow it to enter SLOWLY so the structural adjustments can take place over the next couple of decades or so to make the transition smooth. As each currency grows it will find it's place in the market till you have a set of currencies on a free floating exchange each with it's own value and position of the market (i.e. with a very slow implementation there is no reason to withdraw ANY of the fiat currencies. The junk bond status for fiat currencies will take 25-30 years. If ever. i.e. with stable & transparent economies - even in banking ex. LIBOR scandal - even fiat currency will work. Without it... hyperinflation is a very real long-term possibility.)

In other words, precious metal currencies do no harm and could even help, so why not?

Keynesian Economics - Old School Theory (From The Concise Encyclopedia Of Economics): This does not mean that Keynesians advocate what used to be called fine-tuning—adjusting government spending, taxes, and the money supply every few months to keep the economy at full employment. Almost all economists, including most Keynesians, now believe that the government simply cannot know enough soon enough to fine-tune successfully. Three lags make it unlikely that fine-tuning will work. First, there is a lag between the time that a change in policy is required and the time that the government recognizes this. Second, there is a lag between when the government recognizes that a change in policy is required and when it takes action. In the United States, this lag can be very long for fiscal policy because Congress and the administration must first agree on most changes in spending and taxes. The third lag comes between the time that policy is changed and when the changes affect the economy. This, too, can be many months. Yet many Keynesians still believe that more modest goals for stabilization policy—coarse-tuning, if you will—are not only defensible but sensible. For example, an economist need not have detailed quantitative knowledge of lags to prescribe a dose of expansionary monetary policy when the unemployment rate is very high.

6. Finally, and even less unanimously, some Keynesians are more concerned about combating unemployment than about conquering inflation. They have concluded from the evidence that the costs of low inflation are small. However, there are plenty of anti-inflation Keynesians. Most of the world’s current and past central bankers, for example, merit this title whether they like it or not. Needless to say, views on the relative importance of unemployment and inflation heavily influence the policy advice that economists give and that policymakers accept. Keynesians typically advocate more aggressively expansionist policies than non-Keynesians.

Keynesiams exists as both anti-inflation or anti-unemployment. Just another proof that this isn't the 1930's anymore. So will the politicians in the US PLEASE PLEASE PLEASE stop arguing like elementary kids who have never been to elementary school and just been bullied all thier lives and so now must bully others... over the first theoretical paper in a baby science from 80 years ago. For gods sake! (i.e. Keynes theory)

"The successful politician owes his power to the fact that he moves within the accepted framework of thought, that he thinks and talks conventionally. It would be almost a contradiction in terms for a politician to be a leader in the field of ideas. His task in a democracy is to find out what the opinions held by the largest number are, not to give currency to new opinions which may become the majority view in some distant future." F. A Hayek

Keynesian Economics - Old School Theory (From The Concise Encyclopedia Of Economics): ’ belief in aggressive government action to stabilize the economy is based on value judgments and on the beliefs that (a) macroeconomic fluctuations significantly reduce economic well-being and (b) the government is knowledgeable and capable enough to improve on the free market.

This is the problem with too much meddling (or "fine-tuning). If you are constantly fine tuning monetary or fiscal policy you are going to mess up. it's inevitable as the laws of probability dictate. If fiat currency makes us constantly have to do fine tuning while a precious metals currencies will help stabilize economies and reduce the need for fine tuning then it makes long-term economic sense that that's what we should do.

Keynesian Economics - Old School Theory (From The Concise Encyclopedia Of Economics): The brief debate between Keynesians and new classical economists in the 1980s was fought primarily over (a) and over the first three tenets of Keynesianism—tenets the monetarists had accepted. New classicals believed that anticipated changes in the money supply do not affect real output; that markets, even the labor market, adjust quickly to eliminate shortages and surpluses; and that business cycles may be efficient. For reasons that will be made clear below, I believe that the “objective” scientific evidence on these matters points strongly in the Keynesian direction. In the 1990s, the new classical schools also came to accept the view that prices are sticky and that, therefore, the labor market does not adjust as quickly as they previously thought (see new classical macroeconomics).

The idea of sticky wages because of minimum wage requirements is being fought by the GOP (Fully Explained here = Paul Ryan's Plan Is EXTREMELY Bad For Seniors i.e. this is the same economic "balanced budget" plan the GOP-Republicans have been marketing for the last 4 years!). This is a bad idea as the US can't really return to an agricultural based economy (where kids work with thier families in the fields and paying a dollar for help in loading the truck/cart is sustainable living). Even with food towers making local food production independent and self-sustaining in times of famine and drought ... in the long run all agricultural work will be done with heavy machinery around the world and eventually robots in the first world countries. So the future of jobs in the US lies in the manufacturing sector for the US. If the US federal government wasn't supporting an off shoring outsourcing policy (since LONG before Obama - you guys do know that laws can't be removed all willy-nilly by the President don't yall? Unless you want a Despotism and NOT a Democracy/Republic - ... which, BTW,  Mitt Romney is involved in as well because it's a GOP-Republican thing. Then the US economy would be at 'full employment' right now (about 4-5% unemployment).

This brings me to the Federal Reserve whose leader Alan Greenspan controlled much of government policy on banking and financial money making for the last two decades. Given the kind of arguments they have used  and the recently exposed LIBOR scandal any possible objection to a private company controlling public interests must be gone by now (if there is still objection there names needs to be written down for an investigation). If the LIBOR scandal isn't enough for a full scale inquiry into the Federal Reserve and a restructuring of it's position in our economy then the fact that they have been printing money to giving it away to thier friends in the trillions should be more than enough. Unfortunately the people receiving bailouts from places like the Federal reserve (such as Mitt Romney ... and Alan Greenspan?) are too powerful in the government for any change to take place. Of course, the fact that no change is taking place is more reason for an investigation but let's not go there.

To have this private corporation also overlooking banks (does anyone remember the financial collapse of 2008 with the no questions asked TARP by Bush with huge bonuses paid out after?)... is madness. THE federal reserve proves this everyday by hiding it's analysis and decision making. Since all US banks have been proven to be involved in artificially setting rates (LIBOR) the idea that banks should be allowed to be private AND control the economy and regular taxpayer/citizen interests is obsolete (if it ever was valid!).

It's why what Andrew Jackson said is true now, more than ever!

Concerning his expansion of presidential powers:

"Taking up his presidential duties, Jackson thought the country was suffering from a crises of corruption. If virtue was central to the well being of the nation, then corruption and selfishness were corrosive, and could be fatal. By corruption, Jackson did not mean only scandal and mismanagement. He meant it in a broader sense; in the marshalling of power and influence by a few institutions and interests that sought to profit at the expense of the hole. He was not against competition in the marketplace of goods and ideas. Like the Founders, he believed in vigorous debate, and like Adam Smith, he put his faith in the capacity of free individuals to work out their destinies. But he was very much against the special deal or the selfish purpose, and he was very much in favor of his own role as defender of the many and protector of the nation. In Washington, he was intent on dismantling the kind of permanent federal establishment that created a climate in which, in his view, insiders such as John Quincy Adams and Henry Clay could thrive no matter what the people beyond Washington wanted.

Jackson worried about the power of the Second Bank of the United States, an institution that held the public’s money but was not subject to the public’s control, or to the presidents. Presided over by Nicholas Biddle – brilliant, arrogant, and as willfull in his way as Andrew Jackson was in his – the Bank, headquartered in a Greek Revival building on Chestnut Street in Philadelphia, was a rival interest that, Jackson believed, made loans to influence elections, paid retainers to pro-Bank law makers, and could control much of the nations economy on a whim."

Pay attention here: The problem was private ownership of public wealth – people with no one above them, privately owned large national resources. This is a disaster waiting to happen in any type of economy as an individual can manipulate the nation's economy at a whim.

Page 210: It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government. Equality of talents, of education, or of wealth cannot be produced by human institutions. In the full enjoyment of the gifts of Heaven and the fruits of superior industry, economy of the gifts and virtue every man is equally entitled to protection by law; but when the laws undertake to ad to these natural and just advantages artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful, the humble members of society – the farmers, mechanics, and laborers – who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their Government. There are no necessary evils in the government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing.

Bill Moyers & Senator Bernie Sanders On Corporate Money In Politics

Page 273: “On Friday, December 3, 1833, Andrew Donelson took Jackson’s annual message to the Congress. The deposits had been removed, Jackson said, because of “the unquestionable proof that the Bank of the United States was converted into a permanent electioneering engine.” The issue was, “whether the people of the United States are to govern through representation chosen by their unbiased suffrages of whether the money and power of a great corporation are to be secretly exerted to influence their judgement and control their decisions.”

The problem here is powerful, privately owned enterprises, who influence the nations wealth i.e. Crony Capitalism – [Visualized]  

There is only one solution. An audit of the Fed followed by prosecutions of criminal behaviour  such as the insider trading Paul Ryan was involved in... and probably Mitt Romney as he bragged about connections to Washington in 2002 AND keeps saying all the money he made was done legally... so did Paul Ryan! Congress has set up thier own corporation to do insider trading through Delawar! (probably others as well) So technically, all the money Mitt Romney made IS legal, just not moral. Proof? If what's in this paragraph isn't enough then read this and this.

Taking the money that was stolen during the Bush years and putting it back into the economy... you could probably buy everyone in the US a house or jump-start the global economy with 21st century technology rather than the 19th century oil based economy we have now... we should have a corresponding boom equivalent to the one during the Industrial age... providing our huge global corruption problem is taken care of, then it will move slowly or even backfire as traitors get thier time to make plans and take actions).

The FED - HAS - to exist as a central bank for the State as ALL countries on this planet have a financial structure that is set and stepping out of that system would be bad for the US (economically and for stability). Though all countries don't have private untransparent banks taking care of public matters. That's just crazy and something you'll only find in America!SO the FED has to be nationalized, made transparent and anyone not involved in criminal behaviour should be payed a fair share price for thier holdings in the previously private corporation (the FED) which was controlling public interests.

Keynesian Economics - Old School Theory (From The Concise Encyclopedia Of Economics): Before leaving the realm of definition, I must underscore several glaring and intentional omissions.

First, I have said nothing about the rational expectations school of thought. Like Keynes himself, many Keynesians doubt that school’s view that people use all available information to form their expectations about economic policy.

This is true as people make decisions emotionally unless they learn how to develop clarity, learn how to research and think critically. For some in the US... If they like the candidates clothes on the day they have to decide who to vote for then whether the colour of thier cloths pleases them or not WILL have an effect on thier decision for who to vote for. In addition to this most information is kept from the public under the guise of being 'polite' or 'journalistic integrity' to avoiding mudslinging . Telling the truth isn't mudslinging.

Keynesian Economics - Old School Theory (From The Concise Encyclopedia Of Economics): Third, I have ignored the choice between monetary and fiscal policy as the preferred instrument of stabilization policy. Economists differ about this and occasionally change sides. By my definition, however, it is perfectly possible to be a Keynesian and still believe either that responsibility for stabilization policy should, in principle, be ceded to the monetary authority or that it is, in practice, so ceded. In fact, most Keynesians today share one or both of those beliefs.

Keynesian theory was much denigrated in academic circles from the mid-1970s until the mid-1980s. It has staged a strong comeback since then, however. The main reason appears to be that Keynesian economics was better able to explain the economic events of the 1970s and 1980s than its principal intellectual competitor, new classical economics.

The reason Keynesian concepts such as the multiplier effect work is because they are time-tested. (which Keynes had nothing to do with as he died a long time before the math of the multiplier effect was done... and a long time before his explanation of digging ditches for the sake of digging ditches was thrown out. When investing nowadays (i.e. spending on equipment/rent/infrastructure) you have to spend money as no one likes to give up stuff for free OR by barter. Only bought economists could possibly use such an outdated theory - literally the first paper on this subject was in the 1930's. ONE paper. THE VERY FIRST ONE!)

New Keynesian Economics: From The Concise Encyclopedia Of Economics: New Keynesian economics is the school of thought in modern macroeconomics that evolved from the ideas of John Maynard Keynes. Keynes wrote The General Theory of Employment, Interest, and Money in the 1930s, and his influence among academics and policymakers increased through the 1960s. In the 1970s, however, new classical economists such as Robert Lucas, Thomas J. Sargent, and Robert Barro called into question many of the precepts of the Keynesian revolution. The label “new Keynesian” describes those economists who, in the 1980s, responded to this new classical critique with adjustments to the original Keynesian tenets.

Another example of the continuous research being done in economics as it's an empirical science NOT a political philosophy. Of course, economics takes years to study and test theories because that's the nature of an economy and science itself.

New Keynesian Economics: From The Concise Encyclopedia Of Economics: The primary disagreement between new classical and new Keynesian economists is over how quickly wages and prices adjust. New classical economists build their macroeconomic theories on the assumption that wages and prices are flexible. They believe that prices “clear” markets—balance supply and demand—by adjusting quickly. New Keynesian economists, however, believe that market-clearing models cannot explain short-run economic fluctuations, and so they advocate models with “sticky” wages and prices. New Keynesian theories rely on this stickiness of wages and prices to explain why involuntary unemployment exists and why monetary policy has such a strong influence on economic activity.

GOP is using New Keynesian theory of sticky wages and prices for it's plan of lowering minimum wage! i.e.

New Keynesian Economics: From The Concise Encyclopedia Of Economics: Menu Costs and Aggregate-Demand Externalities

One reason prices do not adjust immediately to clear markets is that adjusting prices is costly. To change its prices, a firm may need to send out a new catalog to customers, distribute new price lists to its sales staff, or, in the case of a restaurant, print new menus. These costs of price adjustment, called “menu costs,” cause firms to adjust prices intermittently rather than continuously.

Economists disagree about whether menu costs can help explain short-run economic fluctuations. Skeptics point out that menu costs usually are very small. They argue that these small costs are unlikely to help explain recessions, which are very costly for society. Proponents reply that “small” does not mean “inconsequential.” Even though menu costs are small for the individual firm, they could have large effects on the economy as a whole.

There is also the profit margin to consider. Generally the profit margin is so high that a few percent rise in costs just means lower profits - if sales are consistent - so a cost-push inflation on prices is not enough, in the short run, to cause a change in prices especially when adding to this the fact that people don't like change very much and more businesses are private and thus have to compete for customers.

"Modern" Use Of Socialism Explained:

"Have not the parties of the Left as well as those of the Right been deceived by believing that the National Socialist Party was in the service of the capitalists and opposed to all forms of socialism?" The Road To Serfdom  by F. A. Hayek (Page 6)

New Keynesian Economics: From The Concise Encyclopedia Of Economics:True to its classical roots, new classical theory emphasizes the ability of a market economy to cure recessions by downward adjustments in wages and prices.

This is what Fox News and the GOP wanted in 2008/9. Kinda. They wanted downward adjustments in everything but war spending... AND STILL DO! (i.e. part of what Ron Paul calls 'militarism').

When trying to convince people not to do a Stimulus... this was the argument put forward by the Republican National Committee and Fox News i.e. spending leads to a depression... but that's not the best part, the best part is that they were arguing that SPENDING ON WAR (NOT ON PEACEFUL ACTIVITIES) leads to recovery (people seem to have forgotten about that crazy "debate"!)

Explanation: That spending is good for an economy shouldn't be debatable. If you have a business and nobody buys your stuff (i.e. if no spending occurs) you will make no money. This is basic economics, even George Bush wanted people to spend to boost the economy, he just wanted it to be ALL on consumer spending while the Government focuses it's spending on war in Afghanistan and Iraq. The debate should be instead on WHAT FORM OF SPENDING SHOULD BE CARRIED OUT. I support peaceful spending activities (done properly, transparently and efficiently), while the GOP and the Paul Ryan Plan goes the other way.

The simple reality is that the banks are too big to fail in that they are central to the global financial structure and there are only 4 or 5 controlling most of the business, i.e. we need a financial system. The solution was to fix this problem which US Secretary from Goldman Sacks said he would. He hasn't done it. If that's the GOP's fault for blocking it like they are doing with everything that helps the economy, then they must be investigated. Strange that the foremost "democracy" in the world seems to have more corruption that China or Pakistan.

Is there ANY form of "Socialism" in the United States? 

Based on a reading of F.A.Hayek's "Road to Serfdom"... the Answer is Yes. BUT it's not what that crazy man, Glenn Beck, has convinced the entire tea party and apparently the entire right of! i.e. Obama! (BTW, the tea party was started by Ron Paul BUT stolen by the Koch Brothers. They seem to be using it as a weapon to destroy the US & Global economy, or take it over. Which will essentially amount to the same thing.)

The ESSENTIAL difference is that what Hayek was talking about was NOT businesses that are too big to fail. He was talking about the business structure of his time (till he stopped thinking as most old people seem to do. Something to do with idea/belief rigidity). Corporations of the size that exist now have never existed in recorded history(unless you are willing to call the robber barons of the feudal system "capitalists" which is what the GOP-Republican seem to be doing! Since F.A. Hayek has been telling people not to move toward socialism a ton of privatizations have taken place. I remember cause I studied them in college. Old people don't remember them because they can't remember everything and they are still traumatized, to some extent, by the Great Depression and World War 2. It's true, a trauma suffered by one generation can be passed down through the ages.

Today's governmental structure consists of MANY corporations who are often at odds with each other. They are like robber barons of the fuedal ages who were all rich and stole from the common man in some way BUT were not all chummy around each other. In other words, we have an Oligarchal Crony Capitalist system in the USA (that qualifies as unconstitutional capitalism). You can also call it a Plutarchy (or rule by the rich... the .00001%). The socialist structure that traumatized Ayn Rand and made her write fiction books, made F.A. Hayek write a book on Socio-Economics (Road To Serfdom) and made Carl Jung delve into the farthest reaches of the human psyche ... ALL had the same roots, i.e. a reaction to world war 1 and 2. They did a very good job of it too. Now the same enemy has reared it's head in a new form and the first to fall is the United States of America.

The problem here is powerful, privately owned enterprises, who influence the nations wealth i.e. Crony Capitalism – [Visualized]  

The whole US exists in a form of "socialism" called "crony capitalism".

So what was socialism in the 1940's, when F.A. Hayek reach his intellectual maturity is in our time is 'Corportism'. Same disease in a new form. 

The structure of the US Government AND the NEW SOCIALISM are both CRONY CAPITALIST. There is no other correct way to describe it.

"It is necessary now to state the unpalatable truth that it is Germany whose fate we are in some danger of repeating. The danger is not immediate, it is true, and conditions in this country are still so remote from those  witnessed in recent years in Germany as to make it difficult to believe that we are moving in the same direction. Yet, though the road be long, it is one on which it becomes more difficult to turn back as one advances. If in the long run we are the makers of our own fate, in the short run we are the captives of the ideas we have created. Only if we recognise the danger in time can we hope to avert it.

It is not to the Germany of Hitler, the Germany of the present war, that this country bears yet any resemblance. But students of the currents of ideas can hardly fail to see that there is more than a superficial similarity between the trend of thought in Germany during and after the last war and the present current of ideas in this country. There exists now in this country certainly the same determination that the organisation of the nation we have achieved for purposes of defence shall be retained for the purposes of creation." The Road To Serfdom - Page 2

Bill Moyers, an esteemed journalist, returned from retirement recently and did some interviews which help clarify today's political situation...

Now a businessman who says he was "taken to the woodshed" for telling the truth about the administration's tax policies, Stockman speaks candidly with Bill Moyers about how money dominates politics, distorting free markets and endangering democracy. "As a result," Stockman says, "we have neither capitalism nor democracy. We have crony capitalism."

Stockman shares details on how the courtship of politics and high finance have turned our economy into a private club that rewards the super-rich and corporations, leaving average Americans wondering how it could happen and who's really in charge.

"We now have an entitled class of Wall Street financiers and of corporate CEOs who believe the government is there to do%u2026 whatever it takes in order to keep the game going and their stock price moving upward," Stockman tells Moyers. 

Gretchen Morgenson on Corporate Clout in Washington

Moyers talks with Pulitzer Prize-winning New York Times reporter and columnist Gretchen Morgenson on how money and political clout enable industries to escape regulation and enrich executives at the top.

In an image, this is what is going on...

What Occupy Wall Street and The Tea Party Have In Common

Let me be clear by saying this again and in large font: The US Government ALREADY has the form of "socialism" as described by F.A.Hayek. But it's CORPORATIONS that are the new communists NOT the liberals! (see images, read words and watch vids above for proof)

"There is nothing in the basic principles of liberalism to make it a stationary creed, there are no hard-and-fast rules fixed once and for all. The fundamental principle that in the ordering of our affairs we should make as much use as possible of the spontaneous forces of society, and resort as little as possible to coercion, is capable of an infinite variety of applications. There is, in particular, all the difference between deliberately creating a system within which competition will work as beneficially as possible, and passively accepting institutions as they are. Probably nothing has done so much harm to the liberal cause as the wooden insistence of some liberals on certain rough rules of thumb, above all the principle of laissez-faire. Yet in a sense this was necessary and unavoidable. Against the innumerable interests who could show that particular measures would confer immediate and obvious benefits on some, while the harm they caused was much more indirect and difficult to see, nothing short of some hard-and-fast rule would have been effective. And since a strong presumption in favour of industrial liberty had undoubtedly been established, the temptation to present it as a rule which knew no exceptions was too strong always to be resisted." The Road To Serfdom - Page 17

A summary of perspectives on "Socialism" in the GOP/Fox-News-Network...

"Have not the parties of the Left as well as those of the Right been deceived by believing that the National Socialist Party was in the service of the capitalists and opposed to all forms of socialism?" The Road To Serfdom - Page 6

Who is Ayn Rand? (and why taking her ideas as a system of government, by the 'Republicans' is bad)

Overview of "Socialism" by The Colbert Report (backed by news sources)

The average GOP Republican has the intelligence of the dufflepuds in Chronicles of Narnia part 3... except they use the word "oppressor" not "socialist".

Dufflepuds = http://youtu.be/LqlUQnsZ4L0 ("The Oppressor" part I refer to above is after this, in the movie, can't find a direct clip)

"It cannot be denied that there is yet little recognition of the positive ideals for which we are fighting. We know that we are fighting for freedom to shape our life according to our own ideas. That is a great deal, but not enough. It is not enough to give us the firm beliefs which we need to resist an enemy who uses propaganda as one of his main weapons not only in the most blatant but also in the most subtle forms." The Road To Serfdom - Page 5

One: On Socialism

1. Socialism by Robert Heilbroner (Article From Library of Economics): "Socialism—defined as a centrally planned economy in which the government controls all means of production" http://www.culturesocietyblog.com/2009/05/socialism-by-robert-heilbroner.html

2. What Is Capitalism? http://www.culturesocietyblog.com/2009/04/what-is-capitalism.html

3. Perspectives of the absurdity of the GOP's creation of Socialism from The Daily Show...

Socialism 1: http://www.thedailyshow.com/watch/tue-may-29-2012/communist-central
Socialism 2 (Mitt Romney's IN YOUR FACE hypocrisy!) http://www.thedailyshow.com/watch/tue-may-29-2012/communist-central---obama-s-socialist-scheme

"This is a truth which most people were unwilling to see even when the similarities of many of the repellent features of the internal regimes in communist Russia and national-socialist Germany were widely recognised. As a result, many who think themselves infinitely superior to the aberrations of Nazism and sincerely hate all its manifestations, work at the same time for ideals whose realisation would lead straight to the abhorred tyranny." The Road To Serfdom - Page 4

Two: On Ronald Reagan

1. Introductory Video 1 - Moment of Zen - Ronald Reagan supports unions and collective bargaining in a speech from the 80s. (00:09) = http://www.thedailyshow.com/watch/thu-march-10-2011/moment-of-zen---ronald-reagan-supports-unions

2. Introductory Video 2 - Moment of Zen - Public Employee Union vs. Wall Street Bonus Contracts: http://www.thedailyshow.com/watch/thu-march-3-2011/moment-of-zen---public-employee-union-vs--wall-street-bonus-contracts

3. The relationship between Republican governors and their states goes from cool new boyfriend to psychotic stepdad. http://www.thedailyshow.com/watch/thu-march-24-2011/gov-hurts

(Notice the elimination of social structure and jobs; By decreasing the social services available to lower incomes you have a break down of society at the social level of the lower to middle income class. This causes a great deal of stress on the economy and family structure of a country.)

[Originally published here = http://glennbeckanalysis.blogspot.com/p/page-1.html]

The subtle change in meaning to which the word freedom was subjected in order that this argument should sound plausible is important. To the great apostles of political freedom the word had meant freedom from coercion, freedom from the arbitrary power of other men, release from the ties which left the individual no choice but obedience to the orders of a superior to whom he was attached. The new freedom promised, however, was to be freedom from necessity, release from the compulsion of the circumstances which inevitably limit the range of choice of all of us, although for some very much more than for others. Before man could be truly free, the "despotism of physical want" had to be broken, the "restraints of the economic system" relaxed.

Freedom in this sense is, of course, merely another name for power or wealth." The Road To Serfdom - Page 25-26

Three: On Fox News

1. Bill O'Reilly Defends His Nazi Analogies... http://www.thedailyshow.com/watch/thu-january-27-2011/bill-o-reilly-defends-his-nazi-analogies

2. 24 Hour Nazi Party People... http://www.thedailyshow.com/watch/mon-january-24-2011/24-hour-nazi-party-people

3. Glen Beck's Nazi Tourette's Syndrome...

4. Glenn Beck agrees with the CIA... that Osama should attack America!!!! = http://www.thedailyshow.com/watch/wed-july-1-2009/osama-bin-laden-needs-to-attack-america

I would like to make it clear that Socialism is when ALL PRODUCTION IS HANDLED BY THE GOVERNMENT. Saving one industry because a bankruptcy with no private funding available would have destroyed the US auto-industry is admirable NOT "Socialism". This is just one more example of how the GOP and Fox News ARE waging a class warfare AND are LIKE a CULT of UNConstitutional Capitalists!

In other words, the new "conservatives" are actually Nazi type socialists using a propaganda network, very much like the Nazis, through corporations embedded in the Federal government to do basically what the Nazi's did. I know, History repeats itself. But this is crazy.

Related F.A.Hayek Quote:

"Because of the growing impatience with the slow advance of liberal policy, the just irritation with those who used liberal phraseology in defence of anti-social privileges, and the boundless ambition seemingly justified by the material improvements already achieved, it came to pass that toward the turn of the century the belief in the basic tenets of liberalism was more and more relinquished.

What had been achieved came to be regarded as a secure and imperishable possession, acquired once and for all. The eyes of the people became fixed on the new demands, the rapid satisfaction of which seemed to be barred by the adherence to the old principles. It became more and more widely accepted that further advance could not be expected along the old lines within the general framework which had made past progress possible, but only by a complete remodelling of society. It was no longer a question of adding to or improving the existing machinery, but of completely scrapping and replacing it." The Road To Serfdom - Page 19

Quick Summary:

New Keynesian Economics: From The Concise Encyclopedia Of Economics: A long tradition in macroeconomics (including both Keynesian and monetarist perspectives) emphasizes that monetary policy affects employment and production in the short run because prices respond sluggishly to changes in the money supply. According to this view, if the money supply falls, people spend less money and the demand for goods falls. Because prices and wages are inflexible and do not fall immediately, the decreased spending causes a drop in production and layoffs of workers. New classical economists criticized this tradition because it lacks a coherent theoretical explanation for the sluggish behavior of prices. Much new Keynesian research attempts to remedy this omission.

The above is a general argument. I explain in detail, above this- WITH LINKS - how corrupt the USA has become. This is a quick summary:

In today's economy (and the roots of the new emerging financial crisis)... many people knew what was happening and, in the US at least Congress set up a corporation through Delaware etc. for insider trading. The guy running for Vice President on the Republican ticket LITERALLY went out and bought Goldman Sachs stock after attending a private meeting telling him what was about to happen (Goldman Sachs was also behind the credit default swap that hid the Greek financial problem for over a year... plus they have been shown they take better care of thier richer clients... and they are in the Federal government as well! They even managed to use thier considerable Government influence to get "Obama" to let them off the hook for the LIBOR investigation. Right. A law professor doesn't know economics but Timothy Geithner, the guy who promised to fix the too big to fail problem, "knows economics AND is from Goldman Sachs in the Federal Government to "help" the economy. Yes. I can see from the trillions of dollars the FED is giving out that that must be the case. The new Socialism IS Crony Capitalism. Of the crony capitalists there are many sorts. War corporations are not in bed with the pharmaceutical companies as there is no money selling drugs to dead people. So the choice, even in a completely corrupt political system, should be simple. Choose the lesser evil i.e. choose crony capitalism OVER militarism. At least under the crony capitalism of ObamaCare (4 Ron Paulians i.e. "Welfare State") we live to fight another day.

Important information on the Individual Mandate for Veterans and anyone else whom "ObamaCare" has helped:

1. How ObamaCare helps Veterans adn Important Information on the Individual Mandate for Ron Paulians =http://explorer9360.xanga.com/767730770/veterans--us-citizens-are-getting-healthcare--proofs-of-the-gops-anti-veteran-policies/

2. The "budget plan" that the GOP-Republicans have been promoting for the last year leads to more war on a larger scale = http://explorer9360.xanga.com/767251257/the-paul-ryan-plan-leads-to-war/

3. More information on how removing the 30 year old "individual mandate" would be bad for society in the USA =  http://explorer9360.xanga.com/764742433/health-care-individual-mandate--the-war-party/

The new form of communist/fascist/socialist government is actually crony capitalism and it looks like this... 

The problem here is powerful, privately owned enterprises, who influence the nations wealth by having connections into the Government i.e. Crony Capitalism – [Visualized]  

"But the new name gave the socialists another word in common with the liberals and they exploited it to the full. And although the word was used in a different sense by the two groups, few people noticed this and still fewer asked themselves whether the two kinds of freedom promised really could be combined." The Road To Serfdom by F.A.Hayek - Page 27


A simple deficit reduction solution (alternative to Paul Ryan's Medicare and Welfare gutting plan with theft from Social Security!) for the USA...


There are two quick and easy solutions for deficit spending that Barack Obama CAN implement...
(Don't be silly. Nobody needs 900 military bases if they aren't already at war. This is just nuts ESPECIALLY WHEN WE HAVE REAL PROBLEMS )

Hayek VS Keynes Part 2...

There are many of F.A. Hayeks ideas and writings taken out of context (makes sense when the one who popularized his book The Road to Serfdom is that crazy man, Glenn Beck!). But one thing the modern "economists" have gotten right that we face a basic choice. As the economists put it (in every Econ 101 textbook, which is probably why the "modern" economists got this one right) "opportunity cost" or choosing "guns OR butter" i.e. Militarism VS helping the people. The US, particularly the GOP-Republicans,  are moving towards complete militarism.

PROVEN = George Carlin Was Right About The GOP On Abortions & War! 

PROVEN: The GOP's Party Platform Supports A Rapists Baby EVEN BEFORE Conception/Pregnancy! http://explorer9360.xanga.com/767503375/the-gops-party-platform-supports-a-rapists-baby-even-before-conceptionpregnancy/

PROVEN: Mitt may have been pro-life and pro-helping rape victims BEFORE an election http://explorer9360.xanga.com/767618602/mitt-romney-took-bailouts--made-money-from-abortions/ ... BUT h

e is NEVER Pro-helping rape victims AFTER an election. - PROOF from The Huffington Post = "Mitt Romney vetoed a bill to help rape victims get abortions!" http://www.huffingtonpost.com/2012/01/09/mitt-romney-contraception-veto-morning-after-pill_n_1194422.html

PROVEN: ONE Crazy Doctor Is At The Root Of Mitt Romney's Party Platform On Rape! http://explorer9360.xanga.com/767499671/one-crazy-doctor-is-at-the-root-of-mitt-romneys-party-platform-on-rape/ … via Anderson Cooper 360

Todd Akin Represents CONSISTENT GOP-Republican Policy... http://explorer9360.xanga.com/767505182/todd-akin-represents-consistent-gop-republican-policy/

Eight staggering GOP comments on rape and women http://www.salon.com/2012/08/22/eight_staggering_gop_comments_on_rape_and_women/

The House GOP's Plan to Redefine Rape http://www.motherjones.com/politics/2011/01/republican-plan-redefine-rape-abortion

A WOMAN On GOP/FoxNews Payroll Caught Lying During The Debate On Thier Rape Policies! http://explorer9360.xanga.com/767499239/a-woman-on-gopfoxnews-payroll-caught-lying-during-the-debate-on-thier-rape-policies/


"Richard Mourdock's rape remark upsets voters and possibly God, so Stephen enlightens his fellow conservatives on rape's approval rating." http://www.colbertnation.com/the-colbert-report-videos/420541/october-24-2012/richard-mourdock-s-rape-comment

[Rant] I think the GOP likes to intentionally go out and incite people (i.e. http://www.thedailyshow.com/watch/mon-january-24-2011/24-hour-nazi-party-people ) to cover up crazy stuff like thier party platform on rape which is based on the studies of ONE crazy doctor (i.e. http://explorer9360.xanga.com/767499671/one-crazy-doctor-is-at-the-root-of-mitt-romneys-party-platform-on-rape/ ) I think that the GOP is taking the Old Testament way too seriously “If a man happens to meet a virgin who is not pledged to be married and rapes her and they are discovered, he shall pay the girl’s father fifty shekels of silver. He must marry the girl, for he has violated her. He can never divorce her as long as he lives” (Deuteronomy 22:28–29 i.e. http://www.colbertnation.com/the-colbert-report-videos/413072/april-23-2012/tip-wag--pheromone-parties----pre-life--laws ) COMPARED to what Jesus taught in the New Testament. i.e. Matthew 22:36-40 “Teacher, which is the greatest commandment in the Law?” Jesus replied: “‘Love the Lord your God with all your heart and with all your soul and with all your mind.’ This is the first and greatest commandment. And the second is like it: ‘Love your neighbor as yourself.’ All the Law and the Prophets hang on these two commandments."(Explained by white Christian = http://explorer9360.xanga.com/767600771/paul-ryan-is-a-fake-christian-proof-that-paul-ryan-is-a-warmongering-athiest/ ) IN OTHER WORDS, You can't be an old testament desert patriarch no matter how much that lifestyle might appeal to some in the GOP (or Mormons, but I can't say anything to Mormons because acting like Patriarchs and Apostles http://www.bbc.co.uk/religion/religions/mormon/organisation/priesthood.shtml IS part of thier Church and probably thier book. My Major in religion is only of the real ones). Not JUST because it's wrong... but because times have changed and since the 1920's women's rights have been increasing. What you need to do is start an information outlet and convince everyone watching that outlet not to watch OR believe anyone else. Then maybe you can get some hot but dumb women to help you promote your message. Cause when most men see a hot woman, thier ability to think goes right out the widow, having such women promote your cause is great marketing/hypnosis. O! Done. Good Job. Moving on.

Note: The above doesn't apply to Ron Paul as he's against war [ he's also OK with the pill and helping victims of rape - Rick Santorum's position is not the same and Mitt Romney's position was the same as Santorum during the primaries. (Mitt wouldn't say a child born through rape is 'a gift from God' but he does ACT like he believes that http://www.huffingtonpost.com/2012/01/09/mitt-romney-contraception-veto-morning-after-pill_n_1194422.html i.e. ACTIONS SPEAK LOUDER THAN WORDS)]

Search result for related video = http://edition.cnn.com/video/#/video/bestoftv/2012/02/04/piers-morgan-ron-paul-views-on-abortion.cnn?iref=videosearch (Also, it's a philosophical position.)

He has also said (in a more recent piers morgan interview) that Bush supported an individual mandate prescription plan so the GOP is just being hypocritical attacking Obama on healthcare i.e. the video of Ron Paul here = http://explorer9360.xanga.com/767730770/veterans--us-citizens-are-getting-healthcare--proofs-of-the-gops-anti-veteran-policies/

Related Explanations:

1. Rick Santorum, Paul Ryan VP, Todd Akin Of "The Party Of Rape & War" http://explorer9360.xanga.com/767474886/rick-santorum-paul-ryan-todd-atkin-of-the-party-of-rape--war/

2. Paul Ryan says 'The President sets policy and HE wants to support abortions for victims of rape and incest' (making it clear to the crazy base THAT THEY HAVE CREATED THROUGH Fox News AND FAKE BOUGHT PREACHERS, that he still supports rape and incest!)... http://explorer9360.xanga.com/767506367/the-gop-wants-todd-akin-to-leave-so-people-wont-notice-he--paul-ryan-are-like-two-peas-in-a-pod/

3. Learn from a Christian Preacher about the teachings of Jesus and what he discovered is being done to the teachings of Jesus http://explorer9360.xanga.com/767600771/paul-ryan-is-a-fake-christian-proof-that-paul-ryan-is-a-warmongering-athiest/

4. Don't believe lies about Barack Obama TILL you read up on the history of the last 4 years. Media and US has a VERY short memory = [UPDATED] Barack Obama VS Mitt Romney, Bush, Cheney & Other Such Corporations/People... http://explorer9360.xanga.com/761465381/updated-barack-obama-vs-mitt-romney-bush-cheney--other-such-corporationspeople/

5. An news article explains what happened with Guantanamo...

"The responsibility lies not so much with the White House but with Congress, which has thwarted President Barack Obama's plans to close the detention center, which the Bush administration opened on January 11, 2002 with 20 captives. Congress has used its spending oversight authority both to forbid the White House from financing trials of Guantánamo captives on U.S. soil and to block the acquisition of a state prison in Illinois to hold captives currently held in Cuba who would not be put on trial - a sort of Guantánamo North. The current defense bill now before Congress not only reinforces these restrictions but moves to mandate military detention for most future al Qaeda cases unless the president signs a waiver. The White House withdrew a veto threat on the eve of likely passage Wednesday, saying the latest language gives the executive enough wiggle room to avoid military custody. " http://globalpublicsquare.blogs.cnn.com/2011/12/15/why-obama-cant-close-guantanamo/

"The successful politician owes his power to the fact that he moves within the accepted framework of thought, that he thinks and talks conventionally. It would be almost a contradiction in terms for a politician to be a leader in the field of ideas. His task in a democracy is to find out what the opinions held by the largest number are, not to give currency to new opinions which may become the majority view in some distant future." F.A.Hayek

Given the actions of the GOP-Republicans over the last 2 years, there is now a case for war on US Citizens through economic war...

Proofs of Treason by the GOP, i.e. economic war. By decreasing resources for Citizens and instead diverting them for war (& possibly a draft), the GOP is committing treason on at least 2 counts. 1. By making life harder for Citizens which will inevitably lead to the deaths of some Citizens. & 2. Channeling resources of US Citizens for war i.e. The plan the GOP has been promoting for
the last 4 years http://explorer9360.xanga.com/767251257/the-paul-ryan-plan-leads-to-war/ (Note: By threatening China & Russia Mitt is also putting USA's National Security at risk in a whole new way! I could make a list!)

Article 3 Section 3 ( http://politicsintro.blogspot.com/2011/06/constitution-of-united-states-of.html ):

Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort. No Person shall be convicted of Treason unless on the Testimony of two Witnesses to the same overt Act, or on Confession in open Court.

The Congress shall have power to declare the Punishment of Treason, but no Attainder of Treason shall work Corruption of Blood, or Forfeiture except during the Life of the Person attained.

More On US Constitution: https://www.facebook.com/photo.php?fbid=3705329224432&set=a.3052218097062.2130261.1011553247&type=3&theater


The Koch Brothers ARE Waging War On Obama & US Citizens! http://www.culturesocietyblog.com/2012/10/the-koch-brothers-are-waging-war-on.html

Mitt Romney Should Be Disqualified From Running For The Presidency http://explorer9360.xanga.com/765867248/mitt-romney-should-be-disqualified-from-running-for-the-presidency/

More Evidence That Disqualifies Mitt Romney From Running For The Presidency. http://explorer9360.xanga.com/765915701/more-evidence-that-disqualifies-mitt-romney-from-running-for-the-presidency/

PROVEN: Mitt may have been pro-life and pro-helping rape victims BEFORE an election http://explorer9360.xanga.com/767618602/mitt-romney-took-bailouts--made-money-from-abortions/ ... BUT he is NEVER Pro-helping rape victims AFTER an election. - PROOF from The Huffington Post = "Mitt Romney vetoed a bill to help rape victims get abortions!" http://www.huffingtonpost.com/2012/01/09/mitt-romney-contraception-veto-morning-after-pill_n_1194422.html

Mitt may have been pro-life and pro-helping rape victims BEFORE and election BUT he is NEVER Pro-helping rape victims AFTER an election. Proven: "Mitt Romney vetoed a bill to help rape victims get abortions!" http://www.huffingtonpost.com/2012/01/09/mitt-romney-contraception-veto-morning-after-pill_n_1194422.html

Rick Santorum, Paul Ryan, Todd Akin Of "The Party Of Rape & War" http://explorer9360.xanga.com/767474886/rick-santorum-paul-ryan-todd-atkin-of-the-party-of-rape--war/

Fox News Lies = http://www.thedailyshow.com/watch/tue-june-21-2011/fox-news-false-statements

If it wasn't for yall controlling 90% of media http://www.thedailyshow.com/watch/wed-april-27-2011/exclusive---bernie-sanders-extended-interview-pt--1 yall could never have gotten this far with Mitt The Liar.

Fox News IS A Part Of The Federal Government! (AND They Are Making Up Polls & News!) http://explorer9360.xanga.com/767600238/fox-news-is-a-part-of-the-federal-government-and-they-are-making-up-polls--news/

Proof of Paul Ryan's Corruption And Thus The Reason For His Lies... http://explorer9360.xanga.com/767340020/proof-of-paul-ryans-corruption-and-thus-the-reason-for-his-lies/

Economic War Proofs (so far): 1. http://explorer9360.xanga.com/759642881/bot-bites-the-gop-are-messing-with-the-economy-just-to-get-obama/ & 2. http://explorer9360.xanga.com/758931792/case-study-political-nonsense-of-the-debt-ceiling-debate/

Note: The GOP functions as a separate party and as enemies as ALL who disagree with them. http://www.thedailyshow.com/watch/mon-january-24-2011/24-hour-nazi-party-people

The Last 4 Financial Institutions {Work In Progress}

1. Having a business monitor it's own dealings is like having a feudal lord monitoring his own peasant farmers. Or as Senator Bernie Sanders calls it, "The Fox Guarding The Henhouse" - which, BTW, is exactly what #Congress supports! http://edition.cnn.com/video/#/video/business/2012/06/12/kosik-dimon-congress-preview.cnn?iref=allsearch #Recall


Context: America's Next TARP Model

A Bloomberg report reveals that the U.S. government loaned banks $7.7 trillion in secret bailout funds at no interest and then borrowed the money back at interest.

'Basically the banks were being lent money at no interest (by the government) and then the government was borrowing it back and giving interest!' What a sweet deal!... Why is the US so low on the corruption charts? Who makes these charts? [A Bloomberg report [ http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html]reveals that the U.S. government loaned banks $7.7 trillion in secret bailout funds at no interest and then borrowed the money back at interest!!!!


1. *Spain Bailout Made Crisis Worse, JPMorgan's Morris Says: Europe’s decision to provide Spain with as much as 100 billion euros ($125 billion) to rescue its banks has deepened the currency bloc’s crisis as it undermines confidence in the government’s ability to finance itself, JPMorgan Chase & Co. StrategistDaniel Morris said. “When they went for the bailout, in some way you made it worse,” Morris said in an interview in Stockholm today. “Because if they couldn’t come up with the 100 billion euros for the banks, where are they going to come up with the 300 billion euros that they need over the next few years for their own funding?”* http://www.businessweek.com/news/2012-06-13/spain-bailout-made-crisis-worse-jpmorgans-morris-says

[Note: Alternative was a bank run. By saying that helping the banks make it worse is imaginary logic - for example: http://www.thedailyshow.com/watch/tue-june-12-2012/purge-overkill---john-oliver---florida-s-voter-registration-law - This could be advice from an analyst. ]

2. *JPMorgan sends false signals to wider debt market: JPMorgan Chase & Co's disastrous bets on corporate debt may have caused unexpected collateral damage: erratic behavior in a barometer that measures the financial health of blue-chip U.S. companies. Those bets used Wall Street derivatives called credit default swaps. They are supposed to act like homeowners insurance, allowing bondholders, banks and hedge funds to buy protection against declines in the value of corporate debt, and ultimately protection against a default. In this case, though, they became more like the pawns in a battle between JPMorgan and hedge funds on the other side of its bet. This struggle so dominated a corner of the market that it sent false negative signals about the credit quality of some major companies whose underlying finances were largely unchanged, market experts said.*
Read more: http://www.smh.com.au/business/world-business/jpmorgan-sends-false-signals-to-wider-debt-market-20120614-20cbm.html#ixzz1xkrJO1Li

3. "Because of our inability to regulate financial markets, we have no idea who has the credit default swaps"... http://www.thedailyshow.com/watch/wed-june-22-2011/grecian-burn---credit-default-swaps

Approx 1 minute into daily show video above - Goldman Sacks uses a monetary device called a 'currency swap' and another 'credit default swaps'. A financial mess created by elite business men in the United States which is not regulated and therefore there is no transparency or accountability.[Dealing with this problem earlier would not have created the need for radical solutions in such a short period of time, such as raising the retirement age etc.]

Summary of the Housing Bubble...

A. A Commision - Daily Show: http://www.thedailyshow.com/watch/tue-january-19-2010/the-financial-crisis-inquiry-commission-team

Note: At 3 mins and 30 secs - Says 'we didn't realize housing doesn't go up forever' yet the excuse for the derivatives housing nonsense (triple AAA rated toxic assets) is 'this is the normal financial crises that occurs every 5-7 years'.

B. 2001-2006 Housing Prices Can Only Go Up! After the Internet bust, and then 9/11, Alan Greenspan lowers interest rates. It fuels a massive housing boom. But by 2007, the party's over. Read morehttp://www.pbs.org/wgbh/pages/frontline/warning/cron/#ixzz1WxyGs3Fn

[The lower interest rates, over long periods of time, combined with the following policy http://youtu.be/kNqQx7sjoS8 , hit the housing market together.]

C. Interview on the Daily Show = http://www.thedailyshow.com/watch/wed-july-13-2011/matthew-richardson

Notes to above video...

1. 2 institutions owned 50% of the mortgage market.

2. Not backed by capital

3. Double dealing with wall street and congress - Mentality: Boom and Bust - Trying to score big off a gamble, very casino movie kinda game play.

4. "Profits get privatized and losses get socialized"

5. Over-subsidy on housing also presented people to own half an 'American Dream' (the other half being hard work to deserve what you get) - Combined with a shrinking public sector job market and consolidation of private firms into conglomerates (reducing private sector job market)- squeezed the job market on two sides.

6. Useful to prevent companies from becoming 'too big to fail' in the first place.

Note 1: In other words, a recession had begun and was being propped up by over leveraging assets/derivatives (selling one house to 15 people, in full) - followed by a TARP bailout with huge bonuses... wow! More about how the Bail out money was used: The big banks make money by taking the bailout money we gave them and lending it back to the government with interest.
Notw 2: *When this financial crisis began nearly four years ago the story seemed simple. The banks were broke and they told our leaders that unless the taxpayers bailed them out and took their private debts on to the public account, then the world would end. Our politicians believed them. We took on huge debts and bailed out the banks. Right or wrong, at least the story seemed straightforward: they owed us huge sums of money. Then as the crisis continued, a new group most of us had never heard of appeared – the bond holders. It turned out the banks owed huge sums to the bond holders too, and so did we. The story of who owed whom began to change.

Gradually the story became less about the banks owing us money and more about owing the bond holders.

It seems to me that our governments and their financial advisers from the banks have a double standard when it comes to debt and its repayment; one which greatly benefits the financial world and punishes the taxpayer.

On the one hand, the debts of private banks and those who own that debt, the bond holders, are being protected from any losses by the publicly funded bailouts. Public debt, on the other hand, at the insistence of the same banks and bond holders we have bailed out, is being paid down at breakneck speed, no matter what the cost in unemployment and the destruction of social services.*
Note 3: "We never really emerged from the recession of 200-01";True. By rating AAA ratings (through private company payments to these agencies - see below) the country's balance sheets were inflated, delaying a response to the crisis and resulting in the financial crisis of 2008. http://www.thedailyshow.com/watch/thu-september-22-2011/exclusive---jennifer-granholm-extended-interview-pt--1

A. FRONTLINE The Warning
Long before the meltdown, one woman tried to warn about a threat to the financial system.

B. The Art of Destorying A Company for Profit

C. How The Fed and Top Government Officials Destroyed the US Economy

Key Information Left Out Of News Media/Analysis (probably due to the echo chamber effect) 

1. On using Quantitative Easing as a long-term solution (i.e. it's good for the rich bad for the middle class adn poor): * "Real wages and salaries have fallen by £4bn. Profits are up by £11bn. The spoils of the recovery have been shared in the most unequal of ways."

Joshi adds that this also helps to explain why sales of high-end luxury goods have continued to soar, while many consumers have been forced to tighten their belts.

"High-income earners are more exposed to profits as owners of businesses or shareholders. Low-income earners are dependent on wages," he says."*
- http://www.guardian.co.uk/business/2011/aug/14/quantitative-easing-riots .

2. "Certainly some people get angry at economists who seem to support one side or another, but usually the economist is approaching it as a scientist and they're just trying to understand the whole thing," cartoonist Grady Klein added. "This book is a chance for humor in the face of all that." [Note: Economics is divided into two large categories called "Micro-Economics" and "Macro-Economics"]

3A. "We never really emerged from the recession of 200-01";True. By rating AAA ratings (through private company payments to these agencies - see below) the country's balance sheets were inflated, delaying a response to the crisis and resulting in the financial crisis of 2008. http://www.thedailyshow.com/watch/thu-september-22-2011/exclusive---jennifer-granholm-extended-interview-pt--1

3B. Singapore has an economic strategy that helps create the infrastructure necessary for business development and economic growth - http://www.thedailyshow.com/watch/thu-september-22-2011/exclusive---jennifer-granholm-extended-interview-pt--2?xrs=share_copy . [ Note: (a dictator led country using mixed economy principles - not Laissez Faire Capitalism - http://economics-proofs.blogspot.com/2011/09/laissez-faire-capitalism-robber-barons.html ) ]

4. 3 branches of government (the word 'regulation' means 'contract laws' and 'property rights' in Ron Paul's language and political application) = http://explorer9360.xanga.com/759455484/the-us-is-a-mixed-economy-because-it-has-3-branches-of-government/

5. The descent into madness: Why are we suddenly punishing the common man for a financial crisis FULL of curruption while the money stolen continues to make interts for the same people who started this whole mess? *When this financial crisis began nearly four years ago the story seemed simple. The banks were broke and they told our leaders that unless the taxpayers bailed them out and took their private debts on to the public account, then the world would end. Our politicians believed them. We took on huge debts and bailed out the banks. Right or wrong, at least the story seemed straightforward: they owed us huge sums of money. Then as the crisis continued, a new group most of us had never heard of appeared – the bond holders. It turned out the banks owed huge sums to the bond holders too, and so did we. The story of who owed whom began to change.

Gradually the story became less about the banks owing us money and more about owing the bond holders.

It seems to me that our governments and their financial advisers from the banks have a double standard when it comes to debt and its repayment; one which greatly benefits the financial world and punishes the taxpayer.

On the one hand, the debts of private banks and those who own that debt, the bond holders, are being protected from any losses by the publicly funded bailouts. Public debt, on the other hand, at the insistence of the same banks and bond holders we have bailed out, is being paid down at breakneck speed, no matter what the cost in unemployment and the destruction of social services.*


"Those who are willing to surrender their freedom for security have always demanded that if they give up their full freedom it should also be taken from those not prepared to do so." --economist Friedrich August von Hayek (1899-1992)

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