Think Liberty; Think Libertarian

Published 3:57 pm Thursday, December 27, 2012

Editor, The Herald:

We now approach the end of 2012. The public has been told for months now that the fiscal cliff was quickly approaching, and that both sides need to compromise. The truth of the matter is we are way over the fiscal cliff. We are now at the time where we need to decide whether to pull the parachute for a softer landing or crash and burn.

As a libertarian, I am largely skeptical of the economic recovery. I am calling for another recession soon. There is a very scary, large bubble about to pop, created by government borrowing and spending at historically low interest rates. When I look back at the past two decades, I see a foolish, power hungry federal government repeating the same mistakes since 1995 at the beginning of the dot-com bubble. Before then, the money supply was only $3.5 trillion dollars, which counts all currency and bank accounts. Now, the last figures in 2011 are pushing us towards $9 trillion dollars. That means, since 1995, the Federal Reserve has pumped $5.5 trillion dollars into the economy. Republicans and Democrats both really don't have any solutions to the fiscal cliff, because both are fueled by lobbyists and special interests. Republicans think war spending generates permanent growth, and Democrats think spending on entitlements, housing, and green energy promotes permanent growth. The truth is, both are dead wrong. Keynesian economics has failed. Only people with ideas and their own capital create permanent growth. We have $222 trillion dollars in obligated spending still yet to occur. $1.2 Quadrillion dollars of bank derivatives are waiting to burst. This is unsustainable. The Fed is also at the center of all of this. With nearly $10 trillion dollars in circulation, our dollar is inevitably going to collapse with continued quantitative easing and bank derivatives. People will be on the streets with no way to purchase essential items, as hyperinflation will take place.

Email newsletter signup

The only way to restore a healthy economy is to do two main things. The first is we need to actually cut spending. Not cut proposed spending or raise taxes. These are the biggest fallacies that exist in politics at the moment. We need to end existing programs, agencies, and cut non-essential proposed spending. The second thing we need to do is end the Federal Reserve. The Fed is a private entity with little oversight that has the power to destroy our currency. Nothing of value is backing our currency. We need to return to a gold standard. Interest rates need to come up to encourage people to save and invest smarter. If Congress and President Obama were to end their idiotic games and stop serving their special interests, we would be a better off people. Anyone who thinks they have our interests at heart is wrong. Stop adhering to the two party system and Keynesian economics. They have failed the people. Think Liberty. Think Libertarian.

Michael Albrecht