The Leadership of Money

My parents (Happy Birthday Mom!) used to always say it, “Money doesn’t solve anything”. But it never hit home more than this past week when our leaders proposed a strategy to solve this “Economic Crisis” with more borrowed money? As if borrowing $700B is the answer to all our economic problems. Print another…

Oh yes, and our leaders say it must be “invested” in reinvigorating the establishment of credit. The government itself to go on credit in order to provide the credit, so that it will eventually trickle (yes, trickle) down to provide credit for the “average” American to eat as well. What a lifestyle, with a time gun to our head saying “pay me or else” all the way through! I can’t wait to get that credit flowing again.

Benjamin Franklin once famously remarked on the subject matter “Rather go to bed with out dinner, than to rise in debt”. But no, our leaders say this kind of debt is totally different. You see, this debt is “good” debt. For credit is ok if you are the U.S. Government or Lehman Brothers or Fannie Mae or AIG or Goldman Sachs or GE or the American homeowner. Its called “The Greater Fool Theory”. The theory assumes that there will always be a “Greater Fool” to bail you out. Have we not learned anything?

Economics is about food and energy, yet our leaders keep such survival costs out of their main computation for inflation. So as essential living costs for food and energy go up, they are “statistically” ignored by our economic leaders. If, as they say, “the economic damage will be painful and lasting”, why are we not using the $700B to invest in such economic essentials while we still have the opportunity.

Do our leaders even have an economic strategy or is it purely a financial one? If so, please assure me they plan to strategically diversify or hedge their $700B bet; for investing exclusively in only one asset class such as Finance is destined to become good money after bad. 

Freedom is about choice, yet our leaders instill fear in us by saying that we have no choice. There certainly must be choices in the world of economics. Is choice not the backbone of any free economy?

And our leaders are so certain that this is an Economic “Crisis” and not an Economic Opportunity? Is such fear not how all opportunities present themselves. You know, you have a miserable break up with your ex-girl or boyfriend only to meet your soulmate for life.

Yes, a much cooler soulmate economy is in our future, but when we will find it, I fearingly do not know. But I do know that following “The Leadership of Money” will only create more paper and less trees.  

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