Jon Warnick, Blue River: Free market solutions |

Jon Warnick, Blue River: Free market solutions

Jon Warnick
Blue River

Morgan Liddick’s support for raising the federal debt limit “coupled with actions to immediately and sharply reduce federal spending to the level of current revenues – say, within six to 10 years” pushes the problem to our children. Spending more today with an empty promise to reduce spending in the future is political “hopium.”

What helped control our finances in the 1790s was hard money and the Coinage Act of 1792, which said, in part, those who debase the currency “shall suffer death.” We now have the non-governmental private cartel Federal Reserve debasing our fiat money in support of banker bailouts and deficit spending. The Federal Reserve enables deficit spending by being the largest purchaser of Treasury debt (ahead of China and Japan). A free-market approach of legalizing competing currencies would be a useful step in reducing the power of the bankers who own the Federal Reserve.

A 20 percent downpayment on housing (May 24 Summit Daily) is reasonable. While there would be a brief period of housing price adjustment, prices would stabilize at lower levels. Lower prices means houses would be cheaper and therefore more affordable. While I understand realtors want higher prices (higher commissions), I don’t understand Jennifer Kermode’s lack of support for affordable (cheaper) housing.

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