At the present time, there are people who are asking for an $819 Billion Stimulus and other stimulus. Many people want to punish Wall Street and attempt class warfare in America. The people who propose this believe that everyone should be a king or queen and that money should be given. I am of the belief that the stimulus will hurt the United States Economy in the short and long run.
The reasons are based on the law of economics and the fact that excess government intervention tends to complicate the situation instead of help it. The stimulus is supposedly coming from our money to help us spend more. When the government spends more money, it has to print more money which will lead to excess inflation and a worthless currency if it is not based on a commodity such as gold and silver.
The excess inflation otherwise known as Hyperinflation makes people spend less, wipes out a middle class, creates polarization, and fear. A stimulus package as the Eight Hundred and Nineteen Billion Dollar one will contribute to the hyperinflation and cripple the economy. Unfortunately, people do not understand this or do not want to.
When a government allows the market to operate freely and does not make threats against it, the economy gradually recovers. Instead, what is happening is the opposite.
According to Glenn Beck who works at FOX News as a host of a show which bears his name, he wrote that the Congressional Budget Office reported that the package will be for new computers and hybrid cars. He reported that the programme is for reshaping the economy in a socialist mold. He also talked about how Government programmes make the country worse.
The Hyperinflation Special Report Issue Number 41 published in April 8, 2008 before Barack Obama and the stimulus package has warned that Hyperinflation and Depression may ensue as early as 2010 and blames both the Republicans and Democrats spending spree, special interest groups [that still exist], and the concept of a pocketbook without an end as another result. An example of such mismanagement is the stimulus package.
Mr. Salemi in his article about hyperinflation used Germany during the Weimar Republic and Hungary shortly after World War II as examples. Another example that can be used is Zimbabwe as it suffers from the highest and record breaking hyperinflation. He talked about hyperinflation drives people away from using money that is not based on a commodity such as gold and replacing it with a barter system.
“Obama Package Stimulus Really Socialism?” Beck, Glenn FOX News February 5, 2009
Hyperinflation Special Report
“Hyperinflation” Salemi, Michael K.