30 Trillion for Quantitative Easing (QE) 2? It’s Time to Get Radical!

Thursday, September 23, 2010
By Paul Martin

By: Chris Kitze
Market Oracle
Sep 23, 2010

Yes, it’s time to get radical on the economy and no, I’m not talking about going full Karl Marx — the politicians in Washington appear well down THAT road.. The next set of bailouts could run $30 trillion (as I’ll explain in a bit) and that’s probably not the end of it because all the future government entitlements are well over $100 trillion. This is not only unaffordable, any attempt to make good on even a small portion of this is a fool’s errand. In addition to attempting an impossible task that is doomed to fail, we’re bailing out the wrong people! Hopefully, this article will get you thinking — feel free to leave a comment and help our discussion.

I’m talking about taking a serious detour from the way things have been done and proposing a radical restructuring of the way government and money work, as well as, a massive clean up of the mess we’ve gotten into. What I am proposing will completely eliminate the Federal debt, change the way government does business and end the banking cartel that destroys countries, finances war and and causes excessive consumer spending. It will completely change the role of the Federal government and restore liberty. It could be replicated wherever fiat money systems are in force in almost any country.

The problem is one of debt and who gets debt relief. Today, the U.S. government now has a debt of $14 trillion and is adding another $2 trillion per year – states and consumers have a mountain of debt, as well. It has now reached the point where this debt can never be repaid, at least in anything resembling today’s money or at any kind of real interest rate. Judgement Day is coming for the U.S. dollar. There will be a debt default, the only question is who will pay and what and how they will pay. This kind of thing never ends well for individuals or society. The problem is we’ve spent trillions of dollars to “fix” the problem in the past couple of years, but we’ve given the money to the people who created the problem in the first place and yet we still have even more debt now than we started with!

It’s not very complicated, we just need to stop spending money we don’t have, eliminate the debts, maintain sound and honest money and a have a rational government that doesn’t take a big chunk of the economy or make major changes every time there is an election. This much smaller government will allow individuals and businesses to make investments, put people to work and plan ahead.

Because these most basic principles are being violated on a daily basis, there is no way the economy will get back on track until they are remedied. If they are not remedied and things continue down the present path, we could see a modern currency collapse similar to Germany in the 1920’s (the Weimar), where money became worthless and the entire economy collapsed. This led to economic misery for millions and eventually WWII.

The Rest…HERE

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