[Politics_CurrentEvents_Group] Fwd: [Publicity2-list] Recession's lingering. Inflation's coming. Here's what to do. And what to read.

More government "investment?" A lingering recession that still wants trillions in government money before it ends? Watch out for two key concepts: currency debasement and inflation. These books from Silver Lake Publishing keep the spotlight on what matters most:

Click here to get LIBERTARIAN NATION and LIBERTY IN TROUBLED TIMES for less than $10. That's more than 70% off of the retail price…and the best offer available anywhere.

Late last year, Federal Reserve Bank of New York President William Dudley said that the outlook for U.S. job growth is "unacceptable" and that more monetary "easing" is needed to spur growth and avert … deflation. Specifically, Dudley said:

We have tools that can provide additional stimulus at costs that do not appear to be prohibitive. Further action is likely to be warranted unless the economic outlook evolves in a way that makes me more confident that we will see better outcomes for both employment and inflation before too long.

By "tools" he meant the ability to print more paper money. And, by "better outcomes," he meant higher inflation. This is madness. And it will cause long-lasting economic hardship for the United States. In its chapter called "Money, Currency and Taxes," LIBERTARIAN NATION explains why:

U.S. monetary policy—formulated and primarily implemented by the Federal Reserve—has been to keep interest rates low as a means of preventing or minimizing the effects of economic recession. It's a kind of short-term cheat that keeps things heading in a bad direction. …For some 50 years, and particularly since the 1980s, the United States government has followed economic policies that are dishonest and arrogant. It has used its position an economic superpower to create and exploit disequilibrium in the world capital markets.

Arrogant and dishonest monetary policy is the logical conclusion of statism. Greedy statists often think that they can outmaneuver the capital markets. But the statists are never as smart as they think; and their supposedly brilliant economic strategies usually boil down to a single tactic: debasement. Running down their currency to create inflation that makes their debts relatively cheap.

The dollar fell by almost 50 percent against the euro during the years that George W. Bush was president. And, if W.'s Middle East policy was any indication, the United States responds to this collapse in its currency by hiring itself out as the world's rent-a-cop. In the late 2000s, the U.S. was in the position of having to borrow from Europe, China and Japan to defend…Europe, China and Japan (or their access to Middle East oil). And the U.S. borrows from Middle East oil monarchs to neutralize Iraq and Iran as threats in their region. All the while, the dollar drops in value.

Debasement is a debtor's game. It seems easier than actually saving and repaying debts. But it undermines the foundations of a nation's economy. And even its culture.

Defying logic, people like Dudley (and other Fed staffers) insist that their tactics will help "working families." This is, again, stale rhetoric. As LIBERTARIAN NATION points out:

The people who are hurt worst in the recessions or depressions that result from debasement are those who have the least to start with. So, statist politicians who claim that their tricky financial games are designed to help out the poorest citizens aren't telling the truth.

The important thing to remember is that we don't have to do anything to "right" the economy. It's really just one massive marketplace…and will correct itself when disequilibrium occurs. The public policy question a rational libertarian should ask is: What can the state do to help the economy move efficiently? The answer is usually some variation on "stay out of the way."

… The only way to fix this trend in the long term is for Americans to spend less than they earn and save the difference. That savings will, ultimately, allow the state to repay its debt..

Why do governments so often grow beyond the resources of their citizens…and the limits of individual liberty? Because they're legal fictions designed to stand in place of individuals. An actual person who acted like a government would be a considered psychopath.

States and corporations are both legal fictions that operate as artificial "people" for the sake of business and contracts. They're designed to transfer power and liabilities away from individuals. ...Legal fictions lack the natural restraint, the courtesy and the social graces that define real people. States and corporations act more selfishly and expand more aggressively than a well-adjusted real person would; their ruthlessness and self-interest would be pathologies in a real person.

LIBERTARIAN NATION has been reviewed and excerpted in various media outlets during its first weeks of publication. It's a category bestseller on amazon.com's Kindle ebook platform and at Borders.com. You can read more excerpts at GoogleBooks.

Originally published in 2004, LIBERTY IN TROUBLED TIMES remains a category bestseller on several ebook platforms. Excerpts of this book are also available at GoogleBooks.

Author James Walsh has appeared in documentaries about Big Government and white-collar crime on The History Channel and the BBC; he has been interviewed by The New York Times, Bloomberg News and CNN.

Click here to get LIBERTARIAN NATION and LIBERTY IN TROUBLED TIMES for less than $10. That's more than 70% off of the retail price…and the best offer available anywhere.

Libertarian Nation

The Call for a New Agenda

ISBN: 978-1-56343-886-8

Hard Back (6" x 9")

288 pages

~~$19.95 retail~~

Liberty in Troubled Times

A Guide to Laws, Society, Freedom and Rights in a Terrorized World

ISBN: 1-56343-778-3

Trade Paperback (6"x9")

~~$17.95 retail~~

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