tag:blogger.com,1999:blog-2761684730989137546.post8190129647671757214..comments2024-03-28T20:28:01.733-04:00Comments on Mike Norman Economics: Is Calfornia initiating a new secession from the union?mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2761684730989137546.post-24319881239007881532009-07-13T14:38:31.575-04:002009-07-13T14:38:31.575-04:00According to Norman :
On the federal level, balan...According to Norman :<br /><br />On the federal level, balancing the budget is akin to the conservation of energy > take out energy or money from one side, and you have to take it out from the other side of the ledger.<br /><br />That is why it is dangerous to balance the budget right now on the national level - it will basically take water away from the green shoots.<br /><br />however, on the state level which does not have the power to issue it's own currency - what they spend is to be fed by tax revenues and deficit spending is not a possibility.<br /><br />Mixing up the national federal monetary system with that of the state level is something that is erroneous and mastered by the deficit terrorist creative destructionist standard of living lowering tax-payer-on-the-hook doomsaying smoke-screenists peoples called the REPUBLICAN'Ts.<br /><br />surely, you must be joking Mr. Norman!googleheimhttps://www.blogger.com/profile/14459089745473598235noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-38162913926586904192009-07-13T03:58:55.577-04:002009-07-13T03:58:55.577-04:00"I don't think the Constitution states th..."I don't think the Constitution states that Congress (Federal Gov't) has the "sole" power to coin money." Exactly. Charge monopoly money or marshmellows in exchange for goods so long as we have enough U.S. Federal Reserve funds to pay our Federal taxes. <br /><br />This brings to mind all sorts of possiblities for California. A freshly balanced budget would be good for California's job market, correct? Buiness would return, new business would be planted and begin thriving again... All of this could lead in to one heaven of a housing shortage!MortgageAngelhttps://www.blogger.com/profile/02797341866990387426noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-23432342692851934612009-07-12T09:57:33.018-04:002009-07-12T09:57:33.018-04:00THERE IS A LIST OF LOCALITIES THAT HAVE ISSUED LOC...THERE IS A LIST OF LOCALITIES THAT HAVE ISSUED LOCAL CURRENCIES TO ENCOURAGE BUSINESS IN THAT LOCALE -<br /><br />FOR EXAMPLE : A CITY IN WISCONSIN HAS ADOPTED "BERK-SHARES" SUCH THAT 10 "BERK-SHARES" = 8 OR 9 U$DOLLARS<br /><br />THE RESULT IS THAT LOCAL BUYING IS ENCOURAGED<br /><br />THERE ARE 10'S IF NOT 100'S OF EXAMPLES OF THIS POPPING UP ALL OVER THE PLACEgoogleheimhttps://www.blogger.com/profile/14459089745473598235noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-73051822696611192262009-07-12T00:04:42.713-04:002009-07-12T00:04:42.713-04:00Matt,
Even so...I don't think the Constitutio...Matt,<br /><br />Even so...I don't think the Constitution states that Congress (Federal Gov't) has the "sole" power to coin money. There are many other forms of money--bank credit (IOU's, essentially, as in demand deposits) constitute the vast proportion of what we call "money." That doesn't mean it can't be challenged on grounds of constitutionality. Whatever happens, it has the potential to open up a big can of worms.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-91557176129918095142009-07-11T23:20:39.089-04:002009-07-11T23:20:39.089-04:00Mike,
Arent the tax warrants priced in us dollars?...Mike,<br />Arent the tax warrants priced in us dollars? If so, then it could be argued that Cali is not creating a new currency because the warrants are priced in dollars.<br /><br />I think this is good news, and presents an opportunity to expand the publics understanding of also the federal tax system and fed monetary system.<br /><br />Cant wait to see how the DDC spin this one! LOL. I can hear it: "California is printin' money! New York is printin' money, better buy gold!" <br />Resp,Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com