Keynes on Inflation

Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become “profiteers,”, who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.

Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.

– J.M. Keynes, The Economic Consequences of the Peace.

FYI

Sincerity is the new sarcasm. Earnestness, the new irony.

Hey Joe, Where You Goin’ with That Gun in Your Hand?

U.S. Senate candidate Joe Miller, fresh from having his private security team “detain” a reporter at a public event in a public school for trespassing, describes a potential approach to securing the U.S. border:

The first thing that has to be done is secure the border. … East Germany was very, very able to reduce the flow. Now, obviously, other things were involved. We have the capacity to, as a great nation, secure the border. If East Germany could do it, we could do it.

I think it’s clear that East Germany was effective at reducing the flow of people … OUT of East Germany. And here’s a question: What “other things” in the relations between the East German government and East Germans will we have to emulate to successfully “secure the border” to Joe Miller’s satisfaction? (eep!)

Is this guy backed by tea partiers? SRSLY?

Show Me Your Papers

“This week Arizona signed the toughest illegal immigration law in the country, which would allow the police to demand identification papers from anyone they suspect is in the country illegally. I know there are some people in Arizona worried that Obama is acting like Hitler, but can we all agree that there’s nothing more Nazi than saying, `Show me your papers?’ There’s never been a WWII movie that didn’t include the line, ‘Show me your papers.’ It’s their catchphrase … So heads up Arizona, that’s fascism. I know, I know, it’s a dry fascism, but it’s still fascism.”

– Seth Myers, SNL Weekend Update

Poverty and Cats

“Kentucky is stricken with poverty like old women are stricken with cats.” – Aaron Lane Morris

Of course the Cold War is also one of the driving forces for the entire reason for faking the moon landings. It was necessary to hide the advanced U.S. saucer technology from the Soviet Union.

Of course the Cold War is also one of the driving forces for the entire reason for faking the moon landings. It was necessary to hide the advanced U.S. saucer technology from the Soviet Union.

Secrets of The Shining: Or How Faking the Moon Landings Nearly Cost Stanley Kubrick his Marriage and his Life by Jay Weidner

… I want to believe.

Bipartisanship is a good thing in major welfare-state enterprises if they are to stick,” said David Mayhew, a professor of political science at Yale. “Otherwise, they may suffer legitimacy problems and come apart.

Bipartisanship is a good thing in major welfare-state enterprises if they are to stick,” said David Mayhew, a professor of political science at Yale. “Otherwise, they may suffer legitimacy problems and come apart.
Today’s NYT. I suppose this means the GOP has its marching orders. Oppose national health care or legitimize an expanded welfare state.