In a recent story in the San Francisco Chronicle it was reported that Fed Chairman, Jerome Powell, said Tuesday he sees no need to drop the central bank’s current gradual approach to raising interest rates. He further said that the combination of steady, low inflation and very low unemployment shows the country is going through “extraordinary times.”
I have a question for Mr. Powell, “If indeed these are extraordinary times with unemployment and inflation near record lows, why don’t you just leave the economy the hell alone?” After all it was the monetary policies of the Fed that caused the massive unemployment and inflation of the 70’s. Have they rally gotten any better at this? I don’t think so. The current thriving economy is not thriving because of the Fed. It is thriving in spite of the Fed.
Let’s get rid of the Federal Reserve system. Let’s get rid of the Treasury Department. Let’s get rid of the politicians that screwed with the housing market in the recent past allowing housing purchases with nothing down causing a crisis which damn near crippled our economy through record foreclosures and personal bankruptcies, bank closings and consolidations. Let’s get rid of Washington. They don’t know what is good for Wisconsin or Nebraska or Kansas. Let’s get rid of a 50% or higher tax rate. If you think I am exaggerating just add up all the taxes you pay – Federal and State income taxes , sales taxes, inheritance, gasoline, and real estate taxes, etc., etc., etc. Let’s get rid of every government bureaucracy that says we cannot use a plastic straw or grocery bag. Let’s get rid of a court system that puts people in jail for smoking pot but lets murderers out early because of jail crowding. Let’s get rid of the constant state of war with nations half way around the world.
So what is left? Free people, that’s what – living together and working together to solve the problems that they currently look to Washington to solve. There might be some bumps and hurdles. There are bumps and hurdles now. Who cares? The bureaucracy would be gone. Justice would be pure. War would not be used to protect special interests. You know – “…entangling alliances with none” (from Jefferson’s first inaugural address).
So what is left? The American spirit of inventiveness and innovation is left – that spirit which fueled the greatest leap in the standard of living for the little man, the forgotten man, that the world has ever known.
So what is left? I am left, a nation of one, an individual whose rights are guaranteed not by Washington or even the Constitution but by the Creator of all, a man who by nature is allowed to protect himself, his family, his neighbors, his property, by whatever means is necessary, and a man whose Lockean property can be taken by no one for any reason.
Government is an anachronism made unnecessary by the abuse of power free people have granted them. Let those bureaucrats earn an honest living for once.