Wednesday, September 23, 2009

The Misinformed Masses


What Luck for Rulers that men do not think - Adolph Hitler

I was over researching stories on an Economics Blog and the subject of Glass-Steagal came up. I commented something like yes it is too bad bj bill let that go.

Wow did that draw the Ire of the crowd. Mind you not the fact that I call him bj bill (they seem to consider that a badge of honor) but the fact that I pointed out he was the one responsible so with no thought as to the facts they let me have it. Yes of course I have been wrong from time to time and when I am I apologize and when I am not I back it up with factsSeems that makes them even madder yikes I think if they could find a way to kill me through the computer sometimes they would!

I take it with a Grain of Salt because I realize that most mainstream Economics blogs are of the Keynesian Principles of Economics. I get around (no if that is your ASSumption thats in your mind) I mean online. I am not one of those people who only reads what I want to hear. While I may not agree with an article in its entirety I at least take with me the facts. It seems to me that people who only read what they want to hear or follow tightly with a political parties rhetoric end up being misinformed.

I see it often people raging against the things they believe are Evil like Usury without even recognizing that the party they are supporting is responsible for bringing it back into play. The Duopoly likes it that way. Another example is the Social Security Trust Fund. It was changed during the LBJ Administration the purpose was two fold one by moving it to the General Fund they could LOOT it at will and two it provided a smoke screen so the misinformed public did not realize the extent of the deficit spending.

"Medicare was added in 1965 by the Social Security Act of 1965, part of President Lyndon B. Johnson's "Great Society" program. Social Security was changed to withdraw funds from the independent "Trust Fund" and put it into the General Fund for additional congressional revenue."

"The government adopted a unified budget in the Johnson administration in 1968. This change resulted in a single measure of the fiscal status of the government, based on the sum of all government activity.

[44] The surplus in Social Security trust funds offsets the

total debt, making it appear much smaller than it otherwise would."

Your parents most likely told you the same thing I told my children when they were young - Do your Homework and DO NOT Believe everything you read. By following those simple rules you will not be among the misinformed masses. 


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