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The Irish Model for Econimics
April 26, 2009 - Ben Feldman
While we Americans struggle to revive our economy debating the value and merit of pump priming, also known as deficit spending, also known as spending our way out of debt, also known as the madness of quacks at the Fed, Ireland to our north is supplying us with the example of what the debate is really about in graphic, living color of reality. The Irish have massively spent money to jumpstart the economy. Their government has intervened so effectively with their government controls they have stifled independent providers of key services, says John Engle writing for the Von Mises institute. Engle goes on to say they have enormous taxes, for the wealthy, none for the lower income groups and they are pushing for higher taxes. Lovely country if you're poor, no tax. Their economy is a mess, so their answer is to print more money and stimulate the economy. Where have we heard that before? Their economy "rests on the precipice of devastation." Another line from Engle. Oh dear, is it it possible here? We need to have a sound monetary system, abolish the monoply over money making by the Fed and let private companies perform that duty, We need small government, and politicians selected by state legislator to go to Washington. Otherwise we will keep repeating ourselves in a breath that is stale.
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