In response to:

Guns and Pensions

Frank324 Wrote: Feb 19, 2013 5:45 PM
Printing money to pay with cheaper dollars usually doesn't work as virtually all government pensions are adjusted for inflation. This only hurts private employees unless they can earn enough in their 401k plans to compensate.
Kevin 354 Wrote: Feb 19, 2013 6:46 PM
Never mind that the persons eventually assigned to pay the pensions had no part in the original deal. Printing money is simply speculating on the part of The Federal Reserve that production will result from the infusion of cash. This was a poor analogy by Dr. Sowell as the swindle to derive money to pay pensions isn't "welshing", it is another scam which requires a crooked judge who will exact the duty to pay upon no party related to the case. The Federal Reserve has nothing to do with it. 17 trillion dollars of debt put upon a non voting posterity does derive the money to pay the pensions and whatever gravy Congress decides to charge against no one represented.
Kevin 354 Wrote: Feb 19, 2013 6:50 PM
I should have written crooked executive, not crooked judge.
JustMC Wrote: Feb 19, 2013 6:55 PM
The Fed isn't speculating that production will result from an infusion of cash, it's simply counterfeiting. They have the power to CREATE money out of thin air. They simply credit accounts with electronic balances.

This devalues every dollar everyone has earned and held. It steals from all. It allows the government to get hold of new, devalued dollars that help pay the pensions. But all the load, as you note, gets put back onto the taxpayer. It's the company store routine.
JustMC Wrote: Feb 19, 2013 6:56 PM
The only real speculation by the Fed is that the public won't catch on to the fact that it is being driven deeper into debt while it's burdened with ever greater taxation, all while having its savings destroyed.
JustMC Wrote: Feb 19, 2013 6:56 PM
If the masses ever magically found out the truth of the math of central banking, heads would roll overnight.
JustMC Wrote: Feb 19, 2013 6:58 PM
But again, this is a minor point, the reality is that the taxpayer is MASSIVELY getting the shaft.
karpe diem Wrote: Feb 19, 2013 9:05 PM
what public are you talking about? that public that voted for obama, who only want stuff from gov't and do not care who pays for it? we all see that public, and it surely is destroying america fast.
JustMC Wrote: Feb 19, 2013 6:01 PM
Though real inflation outpaces the government nonsense stats. Not unlike the BS unemployment stats.
A nation's choice between spending on military defense and spending on civilian goods has often been posed as "guns versus butter." But understanding the choices of many nations' political leaders might be helped by examining the contrast between their runaway spending on pensions while skimping on military defense.

Huge pensions for retired government workers can be found from small municipalities to national governments on both sides of the Atlantic. There is a reason. For elected officials, pensions are virtually the ideal thing to spend money on, politically speaking. Many kinds of spending of the taxpayers' money win votes from the recipients. But...