But we are just too stupid and ignorant to understand, we have these foolish little notions that you shouldn’t just print money at will and ought to live at least somewhat within our means instead of selfishly deferring the debt payments to our children and grandchildren. Let us all defer to the greater wisdom of Sam Random. He will run the Fed and the Tresury and tell us all how things really are.

I like thinking in terms of fiat money: it makes things simpler. Why is money? Because Federal Reserve. And that’s all there is to it. You can make a career out of explaining what’s wrong with that, and some people do, but it really is much easier to accept it and get on with it.

I have in the past, in other places, attempted to explain how all that works, how the US Debt is a really important asset for banks, how transfer payments are a part of the mechanism that keeps the dollar circulating, etc. It seems unnecessary to explain too much here. The point is reflected in the performance of Speaker Boehner, which was, from the outset of his tenure, heavily constricted by the unruly caucus of tea party conservatives. The House Republicans seem unable to fully articulate their vision, past the insistence on spending cuts. I claim, this is because they do not really know what they want. Or more precisely, they know what they want, they are merely ashamed to admit it.

And that’s part of inequality. Many Americans fear the future, fear the government, and fear money. So we go in search of an order that is defined by something else- and this is folly. Right now, the economy is built to circulate money through growth. If the money stops circulating, the whole system falls apart. And that means, if we go into recession, we are wasting resources- the long term unemployed become the permanent unemployed, but what are we supposed to do with someone who cannot support themselves? Kick them out to the curb? The longer the economy stays depressed, the more we constrain the future. And for what? Because we are afraid to live in a world that isn’t just like the one we grew up in?

“A diamond mine is worthless if you need food and can’t, for whatever reason, make an exchange.”

Anything is worthless, if you are starving and cannot make exchange. Other than a brief period, immediately after a civilizational collapse, diamonds will always rate quite high as a store of value and universally accepted as a medium of exchange.

“Diamond is just another form of carbon, after all.” True and if that was relevant to the heart of the issue, you would have a point.

“They would rather the poor be poorer, as long as the rich aren’t richer”

Clip – with Maggie supplying visual aids:

http://www.youtube.com/watch?v=okHGCz6xxiw

Big Hint: the Left only start mewling about the “gap in income” when capitalism has made even the poor comfortable…. need to cast about for any thin claim to keep the embers of class warfare smoldering, and fan it into envy and animus.

Betcha they’re all still loyal Democrats.

Fair enough, but I think we should note the widespread panic in NJ & NY post Sandy as democrat inclined voters waited impatiently for a few gallons of gasoline: http://tinyurl.com/d6y7u73

And for your enjoyment, great cover of a Leonard Cohen song by Jann Arden that (IMO) transcends the master: http://tinyurl.com/85fzce4

But everyone’s mileage may differ.

You seriously underestimate Democrats’ determination to elevate ideology(ies) over common sense and even the common good.

No sweat, brother parker; I often do it as well.

“Regarding inequality….it’s a bit odd that in one sphere of our society”

Its not just one. Leftists do best with wide class divisions and their policies never resolve that situation.

“The demise of the dominance of the USD approaches. China, Russia, India, Brazil, Iran, South Africa, and others are quickly forming alliances to conducted trade in their own currencies.”

Yes; and their use of dollars was a boost to our economy. Which in turn helped create a brain drain in our favor… its all reversing… while progs shout forward…