THE LAST DITCH An Englishman returned after twenty years abroad blogs about liberty in Britain
The moral limits of incentives?
Moral panics vs morality


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Surreptitious Evil

It has to be said that the main reason that US government poverty eradication programmes have no effect on US poverty figures is that US measures of poverty take no account of non-cash poverty reduction schemes. And that, for various reasons, the vast amount of US poverty reduction is through non-cash schemes.


The USA has a choice between a less-than-optimal candidate and a complete economic-illiterate candidate, one might slow the rate of decline the other will accelerate decline, hope they choose wisely.

Regarding currency debasement, I find this chart instructive and depressing note it only extends to 2009, the current situation is much worse. While US is bad, debasement seems to be the favoured policy for most Western governments.

The ONLY thing North America has going for it are vast reserves of minerals and energy, if (when?) they blow-up their economy, they can at least restart by selling them. Europe will not have that luxury.


Marrk Wadsworth has done a few posts about quantitative easing which are worth reading.


"The unfunded liabilities of all US government programs amounts to more than all the money in the world"

That is the scariest point in the film, isn't it? Only politicians pulling the levers of state power could even aspire to such a situation. Of course the economically-illiterate just think they can print more. Not that they are not trying. The sheer bloody hypocrisy of Romney accusing China of "currency manipulation" when the USA is systematically debasing its own currency in order to pay back its debts to China with bad coin, is a bravura display of political "neck".

That sucker is going to fit right in with the other leaders in the "international community" isn't he? I wish I could see some way for the American people to win the upcoming election.


"The unfunded liabilities of all US government programs amounts to more than all the money in the world" which is why they are debasing the currency by printing more "money".

The result can only be hyper-inflation, Europe first followed quickly by the US.

And while I agree that Liebour is the biggest proponent of these policies in the UK, the Cons have not been unwilling to follow their lead.

james higham

All control freaks are immoral too.

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