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HPL
03-02-2012, 01:53 PM
THis is a short but interesting read. An ancient perspective on monetary policy.

http://tinyurl.com/7tw38a9

Franco
03-02-2012, 02:37 PM
Good article!

No doubt that paper money makes it easier for government abuse.

We just keep pushing the problem down the road 'hoping' it will get better. Well, 'hope' is not a plan of action.

Europe will collapse first and because of our Fed's ties to European Banks, we won't be far behind.

And, not enough folks willing to face the problem or back the politicians willing to address it and are honest about it.

We have the government we deserve. Like someone posted here not too long ago, we have one party with two sectors. Both are willing to ignore the real issues that are the greatest threats to our freedom.

road kill
03-02-2012, 02:39 PM
I don't think it takes a genius to realize what is happening.
The sad part is so many are riding this hell-bound train with GLEE!!!


RK

Gerry Clinchy
03-02-2012, 03:33 PM
One of the other links is also worth reading ... How Excessive Government Killed Ancient Rome ...



In conclusion, the fall of Rome was fundamentally due to economic deterioration resulting from excessive taxation, inflation, and over-regulation.

Higher and higher taxes failed to raise additional revenues because wealthier taxpayers could evade such taxes while the middle class--and its taxpaying capacity--were exterminated.

Although the final demise of the Roman Empire in the West (its Eastern half continued on as the Byzantine Empire) was an event of great historical importance, for most Romans it was a relief.


But we just don't seem to learn from history.

HPL
03-02-2012, 08:50 PM
I was reading the other day that gold has appreciated 6 fold in the last 10 years. Makes me want to scream. Of course both that article and the link I posted are connected to folks trying to sell us gold.

Uncle Bill
03-03-2012, 07:01 PM
One of the other links is also worth reading ... How Excessive Government Killed Ancient Rome ...


But we just don't seem to learn from history.

So, you're saying we aren't learning from our past??? Consider poor ol' Cicero and how exasperated he was...2,067 years ago.:confused:

What have we learned ?????????????

UB

"The budget should be balanced, the Treasury should be refilled,
public debt should be reduced, the arrogance of officialdom should be
tempered and controlled, and the assistance to foreign lands should be
curtailed lest Rome become bankrupt. People must again learn to work,
instead of living on public assistance."


Cicero - 55 BC


So, evidently nothing.

zeus3925
03-03-2012, 07:17 PM
So, you're saying we aren't learning from our past??? Consider poor ol' Cicero and how exasperated he was...2,067 years ago.:confused:

What have we learned ?????????????

UB

"The budget should be balanced, the Treasury should be refilled,
public debt should be reduced, the arrogance of officialdom should be
tempered and controlled, and the assistance to foreign lands should be
curtailed lest Rome become bankrupt. People must again learn to work,
instead of living on public assistance."


Cicero - 55 BC




So, evidently nothing.

Rome has its political struggles. The right wing called itself the Boni (the good men).:) Cicero was one of the Boni.

zeus3925
03-03-2012, 08:34 PM
One of the other links is also worth reading ... How Excessive Government Killed Ancient Rome ...
"In conclusion, the fall of Rome was fundamentally due to economic deterioration resulting from excessive taxation, inflation, and over-regulation.

Higher and higher taxes failed to raise additional revenues because wealthier taxpayers could evade such taxes while the middle class--and its taxpaying capacity--were exterminated.

Although the final demise of the Roman Empire in the West (its Eastern half continued on as the Byzantine Empire) was an event of great historical importance, for most Romans it was a relief."

But we just don't seem to learn from history.

That maybe a bit revisionist. The common conundrum is that Rome fell because of the cost of bread and circuses. However, Rome fell for a number of reasons not just monetary. The third century AD was a tumultuous time where the empire was faced with a threat of invasion on two fronts--from the Germanic tribes in the west and the Persians in the east. To raise an army they doubled the armies pay which led to hyperinflation.

The third century was a period of great political unrest. Emperors of this period were recruited not from the Senatorial ranks but from the military ranks' largely based in Illyria--today's western Balkans. The Romans never defined succession to the Imperial throne. This led to various factions of the army supporting their favorite general. In this environment there were constant civil wars and political assassinations. The life expectancy of an emperor was about 2 1/2 years during the third century. Only one died with his boots off in that period. Adding to this, the furthermost provinces in the west and the east seceded.

There was a plague of some sort in this time period that decimated Rome at this time. Some say it may have been small pox, others say possibly something like ebola.

Even though the Roman Empire was reunited in the west and the foreign invaders temporarily repulsed, civil authority was never reestablished fully and commerce throughout the empire began to break down since the the commerce routes became too unsafe to travel.

This led to economic depression and massive unemployment compounded by slavery. This began a movement to the countryside where the migrants placed themselves in a degree of servitude in order to eat. The middle class disappeared.

As the landowner class grew more powerful they became more hostile to central authority and absolutely despised the tax collectors. There was a shrinking middle class to tap. The state became unable to provide public services or raise an army to repel invaders. The Roman state essentially drowned in a bathtub. It never truly recovered from the Third Century Crisis.

An interesting read:

http://en.wikipedia.org/wiki/Crisis_of_the_Third_Century

Franco
03-04-2012, 07:08 PM
Possibly Christianity brought Rome to its knees;-)

They ruled the known world when they were just heathens:D

The ideals of Cincinatus and the citizen legislature/ warrior had long past.

The official date of the end of the empire was in 410 when the Visagoths walked right into Rome and Rome was financially broke.

Franco
03-08-2012, 04:52 PM
From the new book, "Why Nations Fail"

Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or the lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutionsówith no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories.

.............................................

So, the question is; Is the USA becoming more like South Korea or North Korea?