Here’s a really funny and informative video on the idea from that lunatic that’s camped out in the White House… you know the one… that you can just create money out of thin air to solve the economic woes of the nation, if not the world?
Does that moron really not know history? Didn’t Germany do this exact thing after the “big war”? That was a raving success, right?> Wheelbarrows of cash required jut to buy a single loaf of bread?
God help us if morons like Obama are here to “save us” from the mess they created.
Ben Shalom Bernanke, an American economist and current Chairman the U.S. Federal Reserve that believes it is too costly to run the presses to print counterfeit fiat, is creating $600 billion in digital booty with a few strokes on a computer keyboard.
Politicians used to call this type scheme “smoke and mirrors”.
But after reading an excerpt from Our Global Neighborhood, Report of the Commission on Global Governance, A Summary Analysis by Henry Lamb, (First published in eco-logic, January/February, 1996), it seems that Mr. Bernanke may have learned his accounting practices from the United Nations. (He was known to have a theory about the best form of dollar distribution was to throw money out of a helicopter. He also prides himself on his skills to create money or poof it away in 15 minutes.)
The Report on Global Governance says: “The Commission recommends that the ESC (Economic Security Council) have no more than 23 members, that it be headed by a new Deputy Secretary-General for Economic Co-operation and Development, and that the gross domestic product (GDP) of all member nations be measured by and based upon ‘Purchase Power Parity (PPP).’
“PPP is an accounting device, which (according to a chart on page 163 of the report) transforms the 1991 U.S. trade deficit of $28 billion into a trade surplus of $164 billion.”
Colour me stupid. How does one create money or a surplus out of thin air except by waving a magic wand? But what would I know about the magic of money? I’m not an economist. Oh, I get it. You have to be an environmentalist to understand. Money grows on trees. Money is green, so are leaves of trees.
Unfortunately, U.S. President Obama, who, like most if not all of the most tyrannical dictators of the world–Hitler, Stalin, Pol Pot, Mao Tse-tung, etc.–knows zilch about economics. Yet it is entirely conceivable that knowing nothing means he still knows more about production, consumption and transfer of wealth than the late John Maynard Keynes and the current Ben Bernanke.