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Open Response to Robert Reich’s blog
Sir John Templeton learned Assets correct the amount they are financed. He saved half his income and did not borrow.
Shakespeare’s Counselor to the King, Polonius, warned his son in Hamlet:
“Neither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry.”
We saw that in Congress every day they were in session. Like Benjamin Franklin, Templeton demonstrated the value, virtue and wisdom of saving for a rainy day.
The Bible teaches US there are Sabbatical cycles of the week and the years, leading to Jubilee Generational seasons. Most scriptures shun usury to promote work and saving for the lean years in order to live long and prosper.
For the last two generations, Uncle Sam did not save America.
For the first time since 1949, the GOP Congress and Clinton Administration balanced the budget three years into 1999 by raiding the Social Security Trust.
It’s about time Uncle Sam rediscovered thrift and let go voodoo neoCon or neoKeynesian economics trying to get something for nothing with protracted wars.
Keynes, successful investor and Cambridge Don mathematician, sought long-term balanced budgets and profitable investments with surplus reserve assets. He might be rolling over in his grave if he knew what’s done in his name.
There is no long-term Paradox of Thrift, only bad government with political myopia. Thrift saves and serves citizens, families, governments and the world.
Government cannot create prosperity with broken budgets or unConstitutional laws, secret Executive Orders, higher taxes or short-term bandaid fixes.
Constitutional government with 1% Uniform Transparent Transaction Tax on over a quadrillion dollars of annual electronic transactions protects freedoms by eliminating unproductive political taxes, allowing savers and entrepreneurs to create more jobs and wealth.
