The Federal Reserve is being forced to stifle growth.
• Federal Reserve is Forced to Stifle the Economy. If you’re not yet convinced that Keynesian economics and Modern Monetary Theory are the economics of unreality, an “expert economist” has declared that the central bank of the United States is being “forced” to “tip” the economy into a “recession” (you know, what used to be called a “depression” until Keynesian economics defined depressions out of existence . . . along with debt, money, private property, ownership, inflation, and truth). Lunacy, you say? Of course it is. The politicians and the experts cannot understand that when you print up megatons of money backed only by the government’s own debt, you necessarily induce inflation. The only thing forcing the economy into a “recession” (depression) is the fact that the experts insist you must have money (past savings) before you can finance growth, and to shift purchasing power from workers and people on fixed income to the rich who produce marketable goods and services with the capital they own (although Keynes said capital only provides the environment for production, and does not itself produce . . . right) you MUST have inflation to “force” savings. The idea that banks can create future savings out of the present value of future increases in production is completely alien to them, yet that is what banks were invented to do. This is the basis of the Economic Democracy Act, which would help anyone and everyone become capital owners, thereby making them productive without either inflation or deflation.
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| They've come for your job. Own them. |
• The Robots are Coming, and We Aren’t Ready. Americans are being done out of jobs by the rise of artificial intelligence that is cheaper and more efficient than human labor . . . and doesn’t have to be paid, doesn’t make complaints, or vote the wrong politicians into office. Of course, the whole situation would be moot if ordinary people who were being done out of their jobs by AI owned the machines that were replacing them . . . but nobody seems to be thinking about that. That, however, is one of the key ideas behind the Economic Democracy Act, but that might shake up the current power structure, so what can we do? How about we organize in social justice and start working for effective change without allowing government to control our every act and thought?
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| Keynesian economics has failed. |
• Why Inflation Isn’t Working. Yet another mega-question is why, after only trying for nearly a century, Keynesian economics and induced inflation isn’t doing the great things Keynes promised? Why, why, oh, why haven’t we reached economic Utopia and achieved the Kingdom of God on Earth yet? Could it be that something is wrong in the fundamental theory? Why haven’t we succeeded? Keynes said we only have to lie to ourselves for at least a century before his theories start working, and the time is almost up . . . in more ways than one. Frankly, unless we adopt the Economic Democracy Act, we are going to slide down the greasy path to economic perdition. Our faith in the atheist Keynes cannot save us.
• California Dreaming. It has even astounded Californians and raised concerns that people would rather live in a decent house than a cardboard shack or a tent. A homeless person or persons has built what looks like a “typical’ suburban house in a little pocket of ground bounded by a freeway. Experts and authorities have raised concerns that this is unsafe and sets a dangerous precedent. Of course, no one seems to consider the possibility that there is a way to turn over ownership of disused dwellings and abandoned land to the homeless in an affordable way that builds ownership and equity, or even allowing them to homestead them for a low filing fee. This is the “Homeowners Equity Corporation,” and deals directly with rising real estate prices and falling incomes. Interestingly, the HEC could probably be implemented under current law in most if not all states in the U.S. It’s a key element of the Economic Democracy Act, that should also be considered.
• Too Much of a Bad Thing. The Federal Reserve has pumped so much funny money backed by government debt into the economy, making money much more plentiful and thus cheaper, that it is finding it difficult to raise the interest rates, which the experts think is the price of money. Duh. You increase the supply of something and find you can’t raise the price? How strange! Of course, if the so-called experts stopped thinking of money and credit as a commodity created by the government and banks (or anyone else) they’d realize what the problem is. Money is, essentially, a way of measuring value, and does not itself have value. Fooling around with the value of a currency to make things work (Keynes’s theory) is like saying we have to adjust a yard or a meter to change the length of something, which is total fantasy . . . as anyone except an economist or politician can tell you. That’s why monetary reform is such a key part of the Economic Democracy Act.
• Stock Market to Get “Bumpy”. It comes as a huge surprise to the experts and politicians, but after a “stellar” first quarter, the stock market is expected to get “bumpy.” Why? They have all kinds of reasons, but the real reason is the constant flood of funny money into the economy backed only by government debt. The mystery is not why the stock market will get bumpy, but how it has managed to fool so many people for so long that Keynesian theory is working. We clearly need the Economic Democracy Act, but no one seems to be listening.
• Big Correction Coming? According to yet another “expert,” the stock market faces a 10% “correction,” meaning the Dow will drop by 10% of its so-called value, and brokers and gamblers will start jumping from windows. Frankly, we think the “correction” could be a lot bigger and much more traumatic. The alternative is to adopt the Economic Democracy Act, which would put matters on a more solid foundation. And here is where it could get interesting. The stock market could still face a correction — and probably will . . . but shares will have a greater value! Why? Think about it. The monetary reforms in the EDA mean that the reserve currency of the U.S. will be backed by private sector assets with actual value instead of government debt which only has value so long as people have confidence in the government. Thus, assuming we start with a dollar we assign a baseline value of 100 cents, as the dollar becomes worth more, say first $1.25 BV (Baseline Value), then $1.50 BV, $3.00 BV, $10.00, BV, and so on (which will happen as the currency becomes backed by actual assets instead of politicians’ promises), the Dow could drop by 10% in objective numbers, and be worth more in BV! For example, a value per share could drop from $100 to $90, and be worth $112.50 BV, a clear gain in actual value of $12.50. And that’s just for starters. Keynes assumed you must have inflation and a valueless currency to make his system work . . . and it doesn’t work, anyway. Do the math.
• Greater Reset “Book Trailers”. We have produced two ninety-second “Book Trailers” for distribution (by whoever wants to distribute them), essentially minute and a half commercials for The Greater Reset. There are two versions of the videos, one for “general audiences” and the other for “Catholic audiences”. Take your pick.
• The Greater Reset. CESJ’s book by members of CESJ’s core group, The Greater Reset: Reclaiming Personal Sovereignty Under Natural Law is, of course, available from the publisher, TAN Books, an imprint of Saint Benedict Press, and has already gotten a top review on that website. It can also be obtained from Barnes and Noble, as well as Amazon, or by special order from your local “bricks and mortar” bookstore. The Greater Reset is the only book of which we’re aware on “the Great Reset” that presents an alternative instead of simply warning of the dangers inherent in a proposal that is contrary to natural law. It describes reality, rather than a Keynesian fantasy world. Please note that The Greater Reset is NOT a CESJ publication as such, and enquiries about quantity discounts and wholesale orders for resale must be sent to the publisher, Saint Benedict Press, NOT to CESJ.
• Economic Personalism Landing Page. A landing page for CESJ’s latest publication, Economic Personalism: Property, Power and Justice for Every Person, has been created and can be accessed by clicking on this link. Everyone is encouraged to visit the page and send the link out to their networks.
• Economic Personalism. When you purchase a copy of Economic Personalism: Property, Power and Justice for Every Person, be sure you post a review after you’ve read it. It is available on both Amazon and Barnes and Noble at the cover price of $10 per copy. You can also download the free copy in .pdf available from the CESJ website. If you’d like to order in bulk (i.e., ten or more copies) at the wholesale price, send an email to publications@cesj.org for details. CESJ members get a $2 rebate per copy on submission of proof of purchase. Wholesale case lots of 52 copies are available at $350, plus shipping (whole case lots ONLY). Prices are in U.S. dollars.
• Sensus Fidelium Videos, Update. CESJ’s series of videos for Sensus Fidelium are doing very well, with over 155,000 total views. The latest Sensus Fidelium video is “The Five Levers of Change.” The video is part of the series on the book, Economic Personalism. The latest completed series on “the Great Reset” can be found on the “Playlist” for the series. The previous series of sixteen videos on socialism is available by clicking on the link: “Socialism, Modernism, and the New Age,” along with some book reviews and other selected topics. For “interfaith” presentations to a Catholic audience they’ve proved to be popular, edging up to 150,000 views to date. They aren’t really “Just Third Way videos,” but they do incorporate a Just Third Way perspective. You can access the playlist for the entire series. The point of the videos is to explain how socialism and socialist assumptions got such a stranglehold on the understanding of the role of the State and thus the interpretation of Catholic social teaching, and even the way non-Catholics and even non-Christians understand the roles of Church, State, and Family, and the human persons place in society.
Those are the happenings for this week, at least those that we know about. If you have an accomplishment that you think should be listed, send us a note about it at mgreaney [at] cesj [dot] org, and well see that it gets into the next “issue.” Due to imprudent and intemperate language on the part of some commentators, we removed temptation and disabled comments.
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