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View Diary: A Nice Recognition of Fed’s Actions to Help Economy (3 comments)

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  •  I am always glad to see someone considering (1+ / 0-)
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    katiec

    the role of money in the economy. Some people would argue that only when money is involved does economic activity even exist -- as if people are weightless unless they step on a scale. In other words, some people take the symbols for the real thing.
    Wall Street deals largely with symbolic stuff. That we charge them to use our currency is probably a good thing. Better would be if they didn't play with it and hoard it.
    If the employment of currency were working properly, users would pay a sufficient fee (tax) to return all or most of it to the Treasury to be counted and to be passed out for necessary public projects. That's what a rational revenue system would do. Instead, what we have is a Congress rationing the distribution of currency first by laundering it through the banks and then by restricting public works expenditures to their friends and supporters to secure their own tenure in office.
    Instead of "to the winner go the spoils," Congress has set up a system of spoils to insure that they win and enhance their own powers (to inflict damage) via their longevity in office. And, while this may look like a bi-partisan enterprise, it's really more every man for himself and team players are perhaps even more likely to get thrown under the bus. When longevity is the object, then newcomers are welcome, as long as they follow orders and don't stay long. Which may well explain how come 212 freshmen in the House in the last three elections has not produced a positive change.

    We organize governments to deliver services and prevent abuse.

    by hannah on Tue Jun 18, 2013 at 09:02:56 AM PDT

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