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Abraham Lincoln Quote

I am a firm believer in the people. If given the truth, they can be depended upon to meet any national crisis. The great point is to bring them the real facts.

ideas > Rescuing the economy

Rescuing the economy
I hear so much about the federal government needing to rescue the economy. The truth is that the federal government needs to rescue people that got in too much debt or made too many gambles by lending to people that couldn't pay back. That being said, is it really a good idea to rescue these people, these banks, or these businesses. If you can't pay your bills, why would I want to bail you out? What about all those businesses, people, or banks that didn't make these gambles. Why are they expected to bail out others? The government is the primary beneficiary of an economy based on debt. Who borries hundreds of billions a year to be able to do whatever they want? The federal government. So they want and need an economy based on lending and debt. Think about this as well. What work do banks exactly do? They do nothing, except lend dollars, which are controlled by the Federal Reserve. In other words, they are really an extension of the federal government and primarily do the will of the federal government. The government uses the banks to influence the economy in the way they want it influenced. In other words, the federal government has been centrally planning the economy for almost a hundred years now, since the inception of the Federal Reserve in 1913. No wonder the economy is so messed up. The government has been encouraging economic developments or spending in areas that made no sense for too long of a period of time. There are other options to economies built on debt, but the government has done a great job so far convincing people that debt is a necessary thing for an economy to work. But what is debt but nothing more than gambling or a bet that something you are doing now will pay off in the future. Most of the time it doesn't. The truth is that we can't afford to trust the federal government with managing the economy. The proof is in the pudding. Trillion dollar deficits, depressions and recessions that were never seen until the inception of the Federal Reserve. When people start realizing this is beyond me, but hopefully soon, because the ones who broke it certainly won't be able to fix it.
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