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| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
| Posts: | 6399 |
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The essence of politics is buying votes with the taxpayers' money, but without losing more votes than you buy. That is to say, there must be deception. Each beneficiary must conclude: "I am going to get more out of this than I am likely to pay into the system." They all cannot be correct about this. So, the tax burden is concealed.
There are two other factors of concealment: increasing deficits and increasing monetary expansion.
Here is where Bernanke is firing a warning shot across Congress's bow. His speech is a warning to Congress that the Federal Reserve will not take the hit. It will not destroy the dollar in order for Congress to play its game of deception.
This was Bernanke's Declaration of independence. The media did not pick up on this. I don't think Congress did, either.
"We can't solve problems by using the same kind of thinking we used when we created them."
http://rescomp.stanford.edu/~cheshire/EinsteinQuotes.html