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Tuesday, January 29, 2013

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  • The economic world of humanism is a world of present possibilities and no future certainties. Hence, existential economic experimentation is held to be both possible and necessary. We have then fiat money and economics, with man playing God and seeking to determine all possibilities by his fiat will. The world of causality is replaced by a world of non-consequential possibilities. Such a perspective leads to the economics of death: a thousand and one ways of economic death are experimented with rather than to pursue an economics of life, because only the economics of death reserves determination to man. The world of law is replaced by the fiat word of man. As a result, by March 31, 1980, what Martin D. Weiss, in The Great Money Panic (1981: Arlington House) calls "The Debt Monster," meant a $1.5 trillion debt for the nation's corporations; a $949 billion Federal debt; and, for homes, office buildings, and shopping centers, a$1,362 billion mortgage debt. At the same time, cash liquidity is at an all-time low; unemployment in the United States and aboard is increasing, and the "solution" more and more in view is increased inflation. This is like prescribing more liquor to an alcoholic!
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