Now, let’s talk about how the Fed is stealing from the poor. The silver dollar they gave the poor in welfare or unemployment in 1960 is now worth about 4 cents. The loaf of bread that cost 10 cents in 1960 now costs $2.50. Wages and welfare have not gone up as fast as inflation, so the poor have less as well.
All of this comes from a government that plays games with the economy. Once they started playing games there was no place to quit. Bad decisions followed bad decisions. Each administration played their games and in the worst of times they were complicit. The Democrats wanted everyone to have a house irrespective of whether they could afford it. The Republicans were willing to let the banks loan money to people who could ill afford the house, if the government would stand behind the bad loans. Therefore, the banks lost nothing, the poor got houses and the taxpayer got the bill. Everyone got what they wanted except the taxpayer. The taxpayer bailed out the bank and those that could not afford the house now have lost it.
I’m not certain what the solution is. I suspect that term limits will help keep anyone from becoming so powerful they can easily conspire with others at the taxpayer’s expense. Having all laws apply to Congress just like they do to the public will help the powerful lawmakers understand and appreciate the impact of their laws. Prison terms with certain jail time for those lawmakers and government employees that are self serving should help eliminate greed and malfeasance. An informed electorate can help keep government officials in tow. A news media that is probative rather than political must provide factual unfettered information to the public. A Congress that is made up of statesmen and stateswomen rather than political types would go a long way toward some of these goals. And, as I’ve mentioned in previous writings: LEADERSHIP!
Maybe this is just asking too much? I just want a government worth what it was in 1960 (not meant to insult any Ph.D.s). This is the ultimate in redistribution of wealth.