Here are the top 10 reasons for the United States government to print more money, pay off the national debt and let inflation take its course. Number:
10. It would solve the illegal immigration problem. Illegal and guest workers alike would race out of the country and head for countries where the money is worth something like Mexican Pesos or Indian Rupees.
9. Counterfeiters would quit making American money because inflation would always make the cost of the ink and paper they just used worth more than the money they just printed. The government doesn’t have to deal with that same problem because they can print the money magically just by typing numbers in on a computer.
8. Home values would go through the roof, no more negative equity, no more banking crisis.
7. Everyone could pay off their debts because we’d all be millionaires. Wages have got to keep up with inflation, and people on entitlements get cost of living increases by law, right? It’s not like the government would freeze COLAS for retirees or employees when everything is increasing.
6. This one makes the Tea Party people, the Democrats and the Republicans happy. No more deficit spending, the government will always maintain a balanced budget. It will electronically print the shortfall. We don’t need to cut back on any budget items, double the pentagon’s budget, triple entitlement benefits, and give everyone universal healthcare, dental and optical, cut everyone’s taxes in half. Don’t worry we’ll be able to afford the low taxes because we’ll make up for it up in volume.
5. Our trade deficit will disappear overnight because no country will sell us their goods for worthless money, but our exports will go through the roof because our stuff will be cheap in comparison to Mexico, India or China. Added bonus, we will lose our dependency on foreign oil because they will no longer sell it to us. Although at this point, I’m not so sure we wouldn’t just take it from them anyway. It’s not like it is really their oil. They just happen to be living over top of it, right?
4. The rest of the world will hear a giant sucking sound from jobs leaving. Only this time the sound will be those jobs rushing back to the cheap labor of the United States of America because we all know industry flocks to the cheapest labor. They can pay us millions and still make plenty of Pesos or Rupees in profit.
3. The super-rich 1% would have to invest their money quickly creating jobs or actually get jobs themselves because the money their families have lived on for generations will become worthless. Actual labor would become the most valuable commodity. Slogans like “Look for the Union Label” would mean something again, higher wages.
2. Our politicians would no longer be for sale to lobbyists foreign or domestic. Basically, it isn’t that they still wouldn’t want bribes, I mean contributions, but none of the politicians can count that high.
1. And the number one reason for the United States Government to print more money, pay off the national debt and let inflation take its course. To get rid of the $14,250,000,000,000.00 and rising in debt mostly owed to communist China. It will piss the Chinese off, and they’ll never lend us another dime.
In seriousness, our country has been artificially holding down inflation by adding to the national debt since the 80s. The only people this seems to benefit are the super-rich 1% living off their wealth not their own labors, and the rest of us are asked to bite the bullet. Print the money electronically, and pay off the debt. Increase pensions and entitlements with real COLAs, and let inflation take its course. Our trade deficit would become a surplus, and you'd hear a giant sucking sound from companies rushing back to the USA because of the cheap labor. Illegal aliens would race to go work in other countries, maybe their own. People will pay off their debts and have new manufacturing jobs. Property values would increase for real, along with wages. The wealthy would have to invest their money quickly to create jobs or get jobs themselves. One thing is for sure, the people who do the actual work in this country would benefit.
My grandfather told me back in the late 70s that inflation was his best friend. He explained that his private retirement was worthless, some $60.00 a month, but his social security was $700.00 a month because of the COLAs mandated by law to increase his social security to keep up with inflation. I didn’t understand as intelligent and wise as I knew my grandfather to be how the WWII vet could say something so crazy, but he elaborated by saying he was debt free because of inflation. His 30 year fixed mortgage with a payment of $30.00 a month, half his monthly retirement, was paid off almost 20 years ahead of schedule. I could see his point, and I always made sure I got a fixed rate because he convinced me inflation would strike again someday. He, also, bought gold and silver. The one time I listened to a banker to get a fluctuating rate because it would save me so much money, I saw my payment skyrocket the very next year. I immediately paid points and bought down my interest rate while switching to a fixed rate mortgage, listened learned. I still think that WWII generation knew quite a lot.
To see the actual running national debts go to http://www.usdebtclock.org/ . You can see several eye opening details including the yearly budget deficit.
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