We can save you a lot of time on this week’s news items. People who think they are in charge of the economy are making the same stupid decisions week after week, and we are getting nowhere fast as no one considers adopting the Economic Democracy Act:
• Huge Debt? Not to Worry! U.S. government debt is now in excess of $34 trillion, but there is nothing to worry about. All we have to do is print more money, and everything will be fine. That is, until people begin to suspect the government won’t be able to repay all that money. Then we’d better adopt the Economic Democracy Act before people start demanding payment.
• The Rich Poor. Once or twice we’ve mentioned that, ultimately, all taxes are income taxes. If you don’t have income to pay the tax, it doesn’t matter on what basis it’s calculated, you won’t be able to pay it. That is the case of a growing number of older people with low income and high property values that sneaked up on them with inflation. Some people are rich on paper but poor in reality, but the tax structure doesn’t take that into account. The solution? Adopt the Economic Democracy Act.
• Can’t Survive on Social Security? People are complaining that many U.S. “seniors” have to take jobs because they can’t survive on Social Security alone. News flash: Social Security was never intended to be a sole source of retirement income. It was always intended as a supplement to individual saving and investment. That is why we advocate supplementing — not replacing — Social Security with a rational program of expanded capital ownership: the Economic Democracy Act.
• Stupid Economics Department. The Federal Reserve is debating whether interest rates are high enough to beat inflation. That’s like arguing whether we’re pouring enough gasoline on the fire to put it out. Inflation means a rise in the price level. Under the current system, bizarre as it is, interest is the price of money. The Federal Reserve is therefore debating whether they are raising prices high enough to lower them. Right. And they refuse to consider the Economic Democracy Act.
• Inflation Weakens the U.S. Dollar! In a completely unexpected move — at least to academic economists and the politicians who rely on them — producer prices are rising, and the U.S. Dollar is weakening as the government continues to print trillions of dollars of counterfeit money instead of ensuring the soundness of the currency and seeing to it that the private sector has what it needs to be productive. Of course, Keynesian economics is predicated on the assumption that you don’t have to worry about production, only consumption, and consumption can be taken care of by creating artificial demand. Of course, if you want a sane economy, we should adopt the Economic Democracy Act, but what would be the fun of that?
• The U.S. Dollar is Now “Too Weaponized”. Keynesian economics assumes as a given that government should have total control over money and credit. Inevitably this means that the currency will be used as a weapon; politicians can’t help themselves. Word now is that the U.S. Dollar is too weaponized, so central banks are buying gold as a hedge. A better solution would be to de-weaponize money and credit by adopting the Economic Democracy Act.
• Maxing Out on Consumer Credit. It comes as a shock to many people, but what saved Keynesian economics was not government printing tons of money backed by nothing but its own debt, but the Diner’s Club — the first widely used consumer credit card. Keynesian economics relies completely on artificially stimulating consumer demand. In classical and binary economics, consumer demand comes only from being productive, and economic activity consists of people exchanging productions. That is why consumers are maxing out on their credit cards at a phenomenal rate today. What’s the solution? Make it possible for people to gain income — that is, become productive — and that means becoming capital owners as provided for in the Economic Democracy Act.
Amateurs
• Why Definitions are Important. Much to the delight of some conservatives and (these days) a few liberals, Adolf Hitler was a strong proponent of social justice! This is a big plus for some conservatives because it PROVES that social justice is evil. The problem, of course, is that Hitler had his own definition of social justice, and it didn’t exactly mesh with traditional ideas, at least with respect to specific ends. Der Führer was very traditional in his understanding of social justice as a substitute or replacement for individual justice and charity, but in common with many liberals and conservatives today, failed to realize he was using the wrong definition. This was suggested by Pope Leo XIII, but clearly defined by Pope Pius XI. Social justice is something specifically social. It is not a substitute for individual virtue of any kind but targets social habits — institutions — to make individual virtue possible. This is fully explained in a pamphlet, Introduction to Social Justice by CESJ co-founder Father William J. Ferree.
• 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.
#30#
