Its been 15 years since we were in recession and so some of the kids are taking monetary screw-ups for granted.

They are flipping houses. They don’t really have to pay back most of the money they’ve borrowed and they can rely on the asset price inflation.

If you are on that gravy-train it must be pretty nice one supposes.

But that can’t last forever and one has to decide whether one is a REAL libertarian or a royal libertarian.

Its only in a society where money growth is reliably low and stable that social justice exists.

Money is the ultimate trans-spacial good. Or infrastructural good. If its not functioning well then none of the theorising by pro-free-enterprise philosophers pans out.

We are not ONLY wanting reform just to fill our own pockets with gold, worthy and justifiable proposition that this is.

We surely want to have a better, fairer setup.

Whereas an inflationary form of captalism may function after a fashion its an exploitive situation.

A rich guys playground.

It takes the lefts lies and makes them all half-truths and there is no fooling people or running away from cosmic justice.

We can pretend that we can have this rich-person playground and the flotsam and jetsam may never know.

But it won’t work out that way and we ought not wish for that.

And in any case when monetary matters go bad they can go bad bigtime.

Japan never experienced high consumer price inflation. But the monetary inflation wrecked their investment momentum and they’ve never recovered that lost economic power even twenty years later.

Money is the most important thing. If we have that working well taming the beast will be easy. If we don’t we could knock our heads against a brick wall promoting a freer society by we can’t get it.

They don’t make anything in Canberra. Its a city full of bludgers. In reality its not possible for them to be showering gifts upon us and engaging in education-subsidy-arms-races.

And your average battler will see this if the Macromancy is ended with great finality.

He will then finally see the difference between a basically fair system and the thieves ripping the skin off his back and the years of his life.

But if they are ripping him off via printing money he won’t be able to differentiate since high and unstable monetary growth makes the system itself a rort.

It makes the lies of the left partly true and wholly plausible.

Monetary matters ought to be the Alpha and Omega of what we are about. Whereas there are other Greek Letters in between these are the first and the last.

Surely you can see that the banks independance is pretty untenable in the long run.

They ought not have been able to lay out massive tax cuts and spending increases like they have this last week.

Their overblown revenues comes from money creation.

Ok alright. There is also the massive revenue-raising capacity of the GST.

But its really the GST and money-creation that lets them play Santa Claus like this.

On the one hand I like what Costello has done. Not as much pork as in previous election-budgets.

But on the other hand we have to hold all parties to a higher standard.

NO SPENDING CUTS?????

We will simply not survive if we continue in this vein.

Get serious.

Who hires and fires the Reserve Bank government and board?

Perhaps the NewZealand Reserve Bank Governor had some serious independance.

But thats a fleeting thing and almost impossible to maintain.

If the money supply wasn’t sky-rocketing do you really think that Costello could play Santa Claus and no spending cuts to speak of?

In what way is the bank independent.

No-one is independent from the guy who hires and fires.

If the bank governor was independent from the banking industry and the government how is it that they’ve been allowing this high monetary growth.

They allowed a housing industry gold-rush when they didn’t need to.

This caused by runaway money creation.

I’m too much of a Luddite to find all the figures and they make it hard to find them. Surely on purpose.

But check what Frank Shostak is saying about the money-spree.

This theory of central-bank independance is bogus.

Which is why Friedman was always looking for a strict rule to hold the miscreants to.

Central banks, under fractional reserve, AND without a strict rule are totally inflationary.

Since the very fact that they are there means that the banking sector knows they can race ahead and create all this money knowing that the central bank cannot credibly fail to flush the place with cash the next time things look jittery, and things won’t crash prior to any election.

I thought the central banks could be independant too. But this is just untenable.

.. There is wrong stuff in the real world.

Thats why I’m telling you about it.

You can read it but its better to read good stuff first or in parallel.

Even just to save time.

The world isn’t going to remake itself on the basis of the way of your viewing of it evolves.

Have the free-good-stuff on hand and be reading it. Else you don’t have a way to appraise the bullshit.

At present for me there is no “wrong stuff”, I simply have to spread my reading wide and look at what many sides are saying. Of course that is if I ever get through Schopenhauer’s “The World as Will and Representation”, though I suspect in my case he is preaching to the choir.

except the state ALPs! the more they get (GST, payroll tax, stamp duties) they more they squander.

No Keynes did NOT save Capitalism. Stop talking nonsense.

Thats such a ridiculous statement. He became a sort of lighting rod for previously disapointed Fabian-like dickheads who then went about crowding out what was known about economics.

There were already two perfectly good models out there that explained why the depression had happened.

Keynes added nothing. He mislead everyone with his fantasising. Do you blame him or the dumb-leftists who immediately elevated his idiotic system to dogma???

You blame them both.

Keynes revived a whole lot of economic fallacies and turned them into a Utopian system that makes no economic sense.

The flight from economic science means the maintenance of poverty and therefore misery.

It is valid economics that can end poverty and nothing else. And Keynes and his international sycophants have therefore, by their tendentiousness, thrown great misery across the planet.