Click here to get LIBERTARIAN NATION and
A few weeks ago, Federal Reserve Bank of New York President William Dudley said that the outlook for
We have tools that can provide additional stimulus at costs that do not appear to be prohibitive. Further action is likely to be warranted unless the economic outlook evolves in a way that makes me more confident that we will see better outcomes for both employment and inflation before too long.
By "tools" he means the ability to print more paper money. And, by "better outcomes," he means higher inflation. This is madness. And it will cause long-lasting economic hardship for the
...But the statists are never as smart as they think; and their supposedly brilliant economic strategies usually boil down to a single tactic: debasement. Running down their currency to create inflation that makes their debts relatively cheap.
...Debasement is a debtor's game. It seems easier than actually saving and repaying debts. But it undermines the foundations of a nation's economy. And even its culture.
Defying logic, people like Dudley (and other Fed staffers) insist that their tactics will help "working families." This is, again, stale rhetoric. As LIBERTARIAN NATION points out:
The people who are hurt worst in the recessions or depressions that result from debasement are those who have the least to start with. So, statist politicians who claim that their tricky financial games are designed to help out the poorest citizens aren't telling the truth.
Why do governments so often grow beyond the resources of their citizens
and the limits of individual liberty? Because they're legal fictions designed to stand in place of individuals. An actual person who acted like a government would be a considered psychopath.
States and corporations are both legal fictions that operate as artificial "people" for the sake of business and contracts. They're designed to transfer power and liabilities away from individuals. ...Legal fictions lack the natural restraint, the courtesy and the social graces that define real people. States and corporations act more selfishly and expand more aggressively than a well-adjusted real person would; their ruthlessness and self-interest would be pathologies in a real person.
LIBERTARIAN NATION has been reviewed and excerpted in various media outlets during its first weeks of publication. It's a category bestseller on amazon.com's Kindle ebook platform and at Borders.com. You can read more excerpts at GoogleBooks.
Originally published in 2004,
Author James Walsh has appeared in documentaries about Big Government and white-collar crime on The History Channel and the BBC; he has been interviewed by The New York Times, Bloomberg News and CNN.
Click here to get LIBERTARIAN NATION and
Libertarian Nation
The Call for a New Agenda
ISBN: 978-1-56343-886-8
Hard Back (6" x 9")
288 pages
$19.95 retail
A Guide to Laws, Society, Freedom and Rights in a Terrorized World
ISBN: 1-56343-778-3
Trade Paperback (6"x9")
$17.95 retail
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