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IPFS News Link • WAR: About that War

War - Stimulus of Last Resort

• arclein
The notion that war is good for the economy goes back at least to World War II. Critics of Keynesian-style deficit spending insisted that it was war, not deficit spending, that got the US out of the Great Depression.

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Comment by H. Skip Robinson
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Ellen Brown once again makes some pretty distorted premises and statements as she tries to support government investment in jobs and her support of fiat currency. What she fails to apparently understand is that it was government intervention that caused the great depression in the first place. Central Banking, government intervention via work programs and the theft of gold from the Citizens in 1933, gave us a stagnant depressionary economy that lasted over 19 years when factoring real estate prices. It also created disequilibrium in employment between the private sector and government jobs that has continued until today. Add in the inflation component and we now have no "good" way out of the current situation without sustained hardship for a huge percentage of society. When the market does not choose the money and instead government chooses what is legal tender that cannot be a free market based economy. What we do know from history is the greater amounts of taxation and regulation the lesser the quality of life for the majority and when there is greater free market actions and less government interventions there is a greater quality of life for the majority.