Economic Joints.

Gang,

I would like to present some interesting items for your consideration.

First up... Dr. Edwin Vieira Jr asks, What is a Dollar?

Click on the link and find out!





(Hamilton)



My personal favorite passage from the good doctor's essay, in the words of Alexander Hamilton:

... [R]aising the denomination of the coin [is] a measure
which has been disapproved by the wisest men in the
nations in which it has been practiced, and condemned
by the rest of the world. To declare that a less weight of
gold or silver shall pass for the same sum, which before
represented a greater weight, or to ordain that the
same weight shall pass for a greater sum, are things
substantially of one nature. The consequence of either
of them is to degrade the money unit; obliging creditors
to receive less than their just dues, and depreciating
property of every kind.

* * * * *

The quantity of gold and silver in the national coins, corresponding with a given sum, cannot be made less than heretofore without disturbing the balance of intrinsic value, and making every acre of land, as well as every bushel of wheat, of less actual worth than in time past.

* * *

[A debasement would cause] a rise of prices proportioned to the diminution of the intrinsic value of the coins.

This might be looked for in every enlightened commercial country; but, perhaps, in none with greater certainty than in this; because in none are men less liable to be the dupes of sounds; in none has authority so little resource for substituting names for things.

A general revolution in prices * * * could not fail to distract the ideas of the community, and would be apt to breed discontents as well among those who live on the income of their money as among the poorer classes of the people, to whom the necessaries of life would *** become dearer...

Imagine that... a politician who understood the harm of currency debasement!

Unfortunately for us, we have Secretaries of the Treasury who are more than willing to debase our beloved Federal Reserve Notes with orgasmic abandon.

Now that's progress!!


Anyhoo... be sure to read up.


Next up: a utterly terrifying report from the good folks at Zerohedge.com entitled,

The End of the End of the Recession?

Seventy two punishing pages of why things ain't "All Good in tha Hood". Those who think that things are going to get better in a hurry... need to think again.

And... just in case these two pieces of Literature aren't enough for you, check out what's going on in Detroit:

Detroit is in danger of running out of cash if the city doesn’t take steps to eliminate a $20-million to $25-million budget shortfall before Oct. 1, Mayor Dave Bing told the Free Press on Thursday.
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After spending most of his first two months in office poring over Detroit’s financial books and organizational structure, Bing said the city is so deeply in the red that the following measures must be taken to avoid bankruptcy:

• The consolidation and elimination of some city departments.

• A reduction in nonessential city services.

• Concessions by city employees, including job losses in some cases.

• The hiring of an outside emergency collection agency to help recoup some of the debt owed to the city.

“We’ve got a cash-flow problem in the second quarter,” Bing said, referring to the autumn period of the city’s budget cycle. He told Free Press editors and reporters in an exclusive interview: “The city could actually run out of cash if we do nothing, and I’m not going to sit back and do nothing.”

Bing said the city cannot afford to continue operating the way it has for generations, nor can it afford to keep all of its 13,000 employees...

Just like in the Golden State, Leftist Femi-Socialist ideology has been running wild in the Motor City (and the rest of America) for decades. And, just like Killer Kali:

More Cuts for California Budget

LOS ANGELES — With the help of a blue pencil — with which he made a slew of line-item vetoes — and a ballpoint pen, Gov. Arnold Schwarzenegger signed California’s budget into law Tuesday morning, ending the painful and protracted wrangling over how to close a roughly $24 billion two-year gap.

Legislators finalized the document last week after a series of overnight sessions, cutting billions from social service programs. But the State Assembly rejected two revenue-producing measures that left the state $656 million short and without the cash reserve needed to cushion California through rough fiscal waters. To make up the money, the governor made the line-item cuts, in which he took more from services like health insurance for poor children, AIDS programs and the state’s parks system.

For instance, the governor reduced the State Department of Aging’s financing by about $100,000, to $4,121,000. He cut the Department of Public Health’s money by about $7 million, to $47,354,000. He cut millions from domestic violence, AIDS and infant health programs...

Detroit, as well as the United States as a whole, is going to be forced to cut feminist pork projects. They don't WANNA cut the Femi-fat, but they simply won't have a choice.

The seemingly unending flow of fiat dollars might continue a while longer on the Federal level, but this source of income shall too be cut once America can no longer borrow obscene amounts of cheap money from foreign creditors.

The direct and indirect costs of the divorce, the child support, and the family destruction regimes, once ignored and swept under the rug, will become too expensive and too freakin' painful to ignore.

The reality is simple. There can be no wealth creation, or societal advancement without a stable family structure. The traditional family unit brings important economic benefits to the table such as the division of labor and specialization. A family unit also generates superior levels of human and other forms of capital.

Prosperity cannot be found in printing little green pieces of paper. Nor will any happiness or wealth be sustained in a nation where men and women are constantly at war with each other.

The sooner the country realizes this, the better. If resistant elements of the populace cling to their feminist wet dreams, then they will learn the folly of their ways the hard way, as they are reduced to destitution.

(C'mon... did you really think there would be enough social security funds left to take care of the vast hordes of single, cat-owning, Medusa looking, geriatric feminist revolutionaries? I wouldn't be sure sure if I were you!)

So much the better. May the bankrupting of Political Feminism be so utterly complete and thorough that its failure echos for all eternity.

So let it be.

Gyokko.