Tim McMahon identifies an important under-current in the progressive shape-shifting of words and their meanings. Our post-modern era is littered with the constant barrage of changing ideas about our words and therefore, our history.
“Marriage” doesn’t mean what it used to, nor does “gender”, or “inflation.” In particular McMahon notes the confusion with words used to describe economic reality. For example, debt is now a good thing, although entirely contrary to old adage about “the borrower becoming the lender’s slave.”
McMahon writes, “between 1983 and 2000 the definition of inflation appears to have shifted from the cause to the result.”
According to the 1983 Webster’s New Universal Unabridged Dictionary the definition of “inflation” is:
“An increase in the amount of currency in circulation…”
Yet in 2000, The American Heritage® Dictionary of the English Language, Fourth Edition, defines “inflation” as:
“A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money…”
This confusion is easy to understand. Most of us routinely describe things in terms of results instead of causes. Like, “Un-wed pregnancies are on the rise.” While this may be true it avoids the causes. Therefore, half-witted solutions may rise to the surface quicker because the counter-balancing evidence is not presented.
Without properly identifying the true causes of inflation, or the true results of inflation, the statists remain in control. The professional deceivers who are supposed to be representing our true interests are actually defrauding us.
Inflation is really a transfer of wealth from creditors to debtors. It appears as higher prices but it is really a loss of buying power. Where did your buying power go? Did you really misplace it? Or, was it stolen?
The US Federal government has the largest net-debt on planet earth. More than twice as much debt as the 2nd place nation – Japan. No nation owns more debt than our nation.
This means that the government, as a debtor, gets to make payments with currency that is worth less than when the debt was assumed. Inflation dismisses government debt so that the full value of what is borrowed is never recouped. Ultimately, this is an enormous transfer of your wealth, as a taxpayer, to the bureaucracies in Washington.
Inflation is both dishonest and deliberate.
The political elites in Washington, DC have no desire to stop this chicanery. Reducing the federal budget would mean less power and control for them, while furthering free market independence for us. Politicians do not want to reduce their own ability to lavish rewards on their business cronies and acquaintances.
The creation of new money allows innumerable bureaucrats to grow their respective organizations while throttling businesses, private property owners, and families with extensive, costly and unjustified regulatory actions.
This is power. This is what politicians, both Republicans and Democrats, want to keep.
Our unbalanced budget is the main mechanism that the FED uses to justify creating more money. The Government could tell the current citizens that they are going to increase taxes to provide necessary services. But, this is political suicide, because the tax-paying public would howl like banshees.
Only this slight-of-hand can allow these deceivers to place that burden on citizens of future generations. Will your children grow up to express their gratitude for the debt on their shoulders? Do you really think those who are not yet born will accept the burdens we willing place on their backs?
No, they won’t.
You and I are responsible
You and I are accountable.
You and I must act with prudence or America will not survive.
When more is spent than can be raised by taxes, the government makes up the difference with fiat money. This occurs because our Representatives in the Republican-controlled House are unwilling to cut Pres. Obama’s gargantuan spending plans. (House passes Obama’s $1.1 trillion budget.)
Instead they choose monetary debasement by increasing the money supply. It is a dishonest scheme where government force is used to take wealth from people and spend it. Central banks throughout the world have become modern day versions of legalized counterfeiters.
In today’s podcast discusses an article from David Stockman’s Contra Corner, Greece and Euroland’s Crumbling McMansion of Debt, by Charles Hugh Smith.
Please listen and enjoy while you learn…