Letters
to the editor from this week's Chronicle:
Dear Editor
The Feds have been allowing California to set their own auto emission
standards. They are whining now because President Trump is insisting they
accept the Federal standards.While I agree that states should set their
own rules, my point here is this: Why has California been allowed to set
their own standards while less populous states like Idaho are not allowed
to set their own rules on air, water, timber harvests, etc? States rights
should apply to all.
Lucky Brandt
Kooskia
Redneck Review!
No. 230 - 9/23/2019
So what questions might be asked, in view of the look taken by our
last three reviews of the evolution of money, both historically and
most recently in the United States? It happened repeatedly in history,
and again can be clearly seen happening in our own country today!
Essentially, that evolution has historically ended with
FIAT MONEY! The kind of "money" which can be best described as PAPER.
PAPER in the real sense that it has no value except for the agreed recognition
that it can be used to purchase goods and services. It is based on
FAITH in the country that issues it, and so long as that faith holds, it
serves the purpose of a "medium of exchange." a critical characteristic
of anything used as money.
But what has been the end result of countries that have resorted to
paper or FIAT money? A most predictable result is INFLATION, a time of
gradually or even quickly rising prices which is nothing more than a gradual,
or rapid sometimes, loss of value of the currency. As has been claimed
in part RNR's, common sense tells is what is necessarily going to happen!
And research tells us today's dollar will buy no more than yesterday's
dime!
Consider for example a small town like Cottonwood, Idaho, where these
articles are written. Imagine someday just out of the blue a large airplane
would fly over the community, and start dropping $100 bills. Thousands
of dollars in real paper $100 bills would come drifting down like a winter
snow storm, free for the taking by anyone fortunate enough to be in the
area under this money downpour! A literal flood of recognized and
legal money! Can you guess what will happen? Obvious!
Two high school boys who have been drooling over a red sports car sitting
on Gortsema's car lot in Grangeville, priced at $45,000, now seems cheap
as the boys have gathered from the money story nearly 1000 each of those
$100 bills! Wow! $100,000 has fallen into their possession!
The first boy to Grangeville will pay cash for the car, and soon dealers
around the area will realize that money is everywhere, and, you guessed
it, prices will begin to go up! Not only for the cars that have been
envied in their car lots, but in grocery stores and, face it, every where
else. That $20 steak dinner you used to drool over, but could not
afford, is now easily ordered by the lucky souls who reaped in the thousands
from that money storm! And of course! If you were not there
at the money drop, you are in TROUBLE!
Far fetched? NO! That is exactly what has been happening
in our country and the world also the past few decades! Central banks like
our FED have used quantitative easing (QE) and "Zero or near zero
interest rate policies" (ZIRP) to expand our money supply much like the
plane that dropped bills over Cottonwood. Consequently, the stock
market has gone up and up with only a rare downward correction fueled by
cheap interest, and big government deficits have ballooned our national
debt to over $22.5 trillion! Consequently, not only has our national
government accumulated this monstrous debt, but research tells us that
debt is at an all time highs for citizens and even college students!
Sobering to recall that it was similar low interest that fueled the "Roaring
'20's" that ended in a depression of length ten years in the '30's!
So need we be concerned? Does the recent 1/4 % interest reduction
by our FED, during we are told, a robust economy, with all time lows in
unemployment, and slowly rising wage rates for workers, plus increased
minimum wage laws at several state levels, and a call for a $15 minimum
at the federal level, make any economic sense? Does the Right Side News
quote last week that paper currency countries last only around 50 years
have any meaning for us? Or could Prof Tyler's claim that Democracies
last only roughly 250 years be a warning to us? Can the free medical
care and college educations promised by liberal candidates be possible?
Jake Wren |
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