Sometimes you can see an accident waiting to happen and there’s nothing you can do but stand there, shield your eyes and cringe. That’s the maddening position American citizens are now in as they prepare for the inevitable inflation that will result from deficit spending, socialist political patronage and the centrally planned economy now taking hold in America.
A 1933 Propaganda film features many of the same arguments used today by those who argue government spending is how best to revive the economy.
Wikipedia lists nearly 600 defunct American automobile manufacturers, many of which boasted the top innovations of their day. How would auto development have occurred if the government had nationalized each one, as they have now done with GM?
Smith Automobile Company, the first automobile made west of the Mississippi river (closed 1912).
Long before the Chevy Volt, Grinnell Electric Car Company manufactured a five-seat electric car that claimed to have a 90-mile range (closed 1913).
Stanley Motor Carriage Company, the world’s fastest car until 1911 (sold 1917).
McFarlan Motor Corporation, known as the “American Rolls Royce”, was a favorite of celebrities such as Fatty Arbuckle, Jack Dempsey and Al Capone, who bought one for his wife (bankrupt 1928).
Brewster & Co., whose cars were immortalized in the Cole Porter song “You’re the Top”: "You're the top! You're a Ritz hot toddy. You're the top! You're a Brewster body" (sold at auction, 1937).
Jonathan Hoenig is managing member at Capitalistpig Hedge Fund LLC.
I've linked to your post from Between the lines of stock market increases Sobering rise of inflation. In an otherwise glowing report about the economy from USA Today a bit of reality slips through. The Keynesian spending on Government liberal issues has not done much to increase private sector jobs. In fact total unemployment is still increasing. But the relationship between increasing the amount of dollars in the economy by borrowing a trillion dollars and the value of the dollar must balance since the borrowing did not create a trillion dollars worth of product it merely mortgaged existing products and future tax revenue. ... usa today excerpt ... Hat tip: Hyscience Follow At The Water Coolers research of the currently