Anton Wahlman

When Will the Music Stop for Government Bonds?

This is a very interesting response to this excellent article. I certainly fear that you are right about the parallels with the Argentinean example. With a Saul Alinsky-trained Marxist in The White House, chomping at the bit to confiscate all private property and sending the bourgeois class to the rice fields, this scenario could certainly translate here faster than most people fear as of yet. Anyway, that said, the original article above was outstanding, and thanks for someone finally re-discovering the greatest Economics thinker of the 20th century: Ludwig von Mises.


On Jul 29 09:44 PM whidbey wrote:

> The logic is Simon pure, the sense of history exquisite, but the
> conclusion that this farce can not be stretched well into the future
> is a miscalculation of the capacity of man to believe whatever he
> chooses to believe.
>
> The limit, of course, is the debt service, when the marginal tax
> dollar is spent on interest payments there is no necessary crisis.
> No, there is still room to invent. For example, Argentina confiscated
> the pensions of its citizen, then taxed farm exports, and wants now
> to own a lien on all private property as surety on state debt.
>
>
> The distortions of evil finance are as unlimited as the mind of man
> to believe that he is secure in his debtors. This soon becomes a
> fantasy game in which the winner is the more gullible player.
>
> This is the game of democracy in which the few have the power to
> take from the many until there is nothing left but the bigger fool,
> and he loses!