Some commonsense policy proposals to prevent US bankruptcy
On my to-read list is a book entitled “The Return of the Great Depression” by Vox Day. He prescribes ten measures needed immediately to keep the nation from going off the financial cliff ahead:
1. Stop pouring gasoline on the fire. The Federal Reserve must raise interest rates. . . .
2. No more financial necromancy. No more bailouts. An organization that is too big to fail is too big to be permitted to exist. . . .
3. Cut state and federal income taxes in half. . . .
4. Eliminate all federal spending that cannot be supported by a supermajority in both the House and Senate. . . .
5. Audit the Federal Reserve. . . .
6. Repeal the Gramm-Leach-Bliley Act of 1999, the Carn-St. Germain Depository Institutions Act of 1982, and elements of the Depository Institutions Deregulation and Monetary Control Act of 1980. . . .
7. Withdraw American troops from Afghanistan, Iraq, South Korea, Europe, and most of the dozens of countries around the world where they are stationed. . . .
8. Halt immigration and provide significant financial incentive for married women with children to raise them at home. . . .
9. Ban banking bonuses. . . .
10. End the federal monetary monopoly. . . .
I haven’t read the book yet, so I’m not entirely sure about all of these, but the majority seem pretty self-evident and commonsensical to me.
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