[FoRK] 1099 will end the world in 2012

Adam L Beberg beberg at mithral.com
Sun Jul 25 12:51:03 PDT 2010


Bill Stoddard wrote on 7/23/2010 11:00 AM:
> Dollar is in sorry shape... until you compare it to everything else.

The cool thing about fiat is they can ALL devalue at the same time 
relative to real things. Which is exactly what is happening - 
competitive devaluation.

The result is that everyone inflates away their debts. Of course real 
things like food an energy (conveniently removed from all inflation 
indicators) may force a few billion to starve, but those aren't really 
people that can provide useful labor anyway, and poor people haven't 
evolved the ability to deflect bullets like the rich can. Even in the 
most rosey optimistic scenario, we have 6B too many people for the 
planet to stay viable anyway, and our leaders know that.

As for the taxes, only the top 40% even pay more then they cost the 
government. This is very hard for most people to grasp - that the lower 
60% are already on the COST side of the government ledgers. The top few 
percent pay little to no taxes, because if they had to they would just 
flee like the rich Californians are doing. Rich people, or at least 
their accountants, aren't as stupid as people think. Effectively 
California will write you a million dollar check every year NOT to live 
in California, so it's no wonder anyone with any wealth leaves.

So that leaves you with only one option, to tax the merchant class into 
the ground. The small business owners, the engineers, the VCs, and 
others smart enough to move but not quite rich enough to do it. It's 
rather convenient that the housing market has trapped the middle class 
living where they are.

And that's exactly what the USA is about to do - completely destroy its 
merchant class. To be fair Europe is giving it a good go as well.

Sure is fun to watch when you know what's coming next. The sheep really 
never do learn from history :)

--
Adam L. Beberg
http://www.mithral.com/~beberg/


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