We Desperately Need Cascading Cross-Defaults

Wealth is based on the division of labor.  The more people serve others in ever more defined and discreet areas, the more prices fall and the more options we have.  It is access to goods and services that is the proper definition of wealth, not how much money you have.  The very term wealth is rooted in happiness, the term is not rooted in money.  We are happy when our needs are met.  Money is a mere medium of exchange, exchange for the things that make us happy: a loaf of bread, a jug of wine, a cancer cure for our child.

The problem is the government gets involved, and the government has nothing it does not mulct from victims.  We want a cure, and government forces us to buy "care."  Government limits who can attempt new cures, and makes sure that we all are subject to harmful things, like Rick Perry in Texas signing into law a rule 14 year old girls are forced to take gardisil, which is proven to be worse than ineffective, and to make girls infertile.

People desire great amounts of money so they might have access to better things, so they have options. In a free market there are more options at prices most can generally afford.  People say they want money, but they settle for what the powers that be defines as money, which in essence are mere promises to pay, backed by other promises to pay.  This is why Greenspan referred to the possibility of cascading cross-defaults.  When those phony contracts for phony work fail to roll over upon the greater fool, when no greater fools exist, bonds go up to 100% and the defaults start rolling.  See Greece.

People making things for others, goods and services, freely, is how an economy hums. When the majority of income in a country is welfare checks and government employee checks, the relatively few who actually produce get less and find it harder to produce.  They do not expand and hire. So we also lose people who would be trained in such businesses, so there is no up and coming generation of producers.

Bailouts are to forestall the default, the cascading cross-defaults.  There is no better medicine, the sooner the better, than cascading cross-defaults.  the decks get cleared, the bad guys lose their power, and we can rebuild a better and more just economy.

This system is worldwide and is falling apart. Here is a summary of what entrepreneurs, in part, face when starting a business in USA.  If you do not like the way things are going, the most radical act you can make, is to start a business. You will be fighting for your freedom, nonviolently. The bad guys who control USA hate nothing more than your freedom.  The government, federal, state, county and local, attacks you because they hate your freedom.

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