Friday, June 24, 2011

Should We Root For The State To Fail

Saw this article today:

I agree with the quasi-monetarist position that nominal NGDP targeting could stabilize economic growth and employment levels.

I think Ron Paul's "End The Fed" is like a campaign to "End The Military" or "End The Police". Ok, as long as people understand that we are open to new institutions replacing the oppressive ones to do the job better.

Unfortunately, the Ron Paul types are pushing a high unemployment, deflationary agenda. The man on the street is not going to accept this message. Granted, some might accept the idea of Austrian economics, but that's a whole other type of snake oil.

Instead of trying to end the fed we should be trying to end the legal tender laws, legal system and system of taxation that essentially force people to use American currency.

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