OPINION:
Today we find our country in the grips of an economic downturn greater than any seen in decades. For many in the mainstream Keynesian economic tradition, the only economic fixes are to spend more, devalue the currency, defraud our investors and pay the debt with less valuable money.
This creates inflation, not to mention resentment from our creditors. This high rate of inflation represents a very costly tax on the middle and lower class. The standard of living for millions of people around the world will decline as a logical result of higher inflation. Governments inevitably will be forced to adopt austerity measures because of the very bankers who created the collapse.
Government welfare programs such as food stamps, Social Security and Medicaid will be cut because they are unaffordable. High taxes will be implemented to repay our debts. This same scenario is unfolding all around the world as governments deep in debt fall like dominoes.
We are witnessing the complete and absolute evidence that Keynesian economics is an abject failure. Americans have been led astray by 100 years of progressive propaganda telling them the government could be trusted with their money. That was never the case. The government has spent every dime and trillions more. As for the debt-ceiling debacle, we have seen no less than two government defaults in the past 100 years. In 1971, Richard Nixon declared, “We are all Keynesians now.” A more appropriate declaration would have been that the federal government was bankrupt.
America has been conquered by bankers, and the sooner we prepare for that reality, the better off we will be.
J.D. WILLINGHAM
Tuscumbia, Ala.
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