House of Paine

obvious point # 8 zillion

CB's are now 
all ever  so much better
         at controlling inflation 
              but so what 
                  if the system seems to have
            a deflation bias built into it
 
its no good  having the hair 
                        to kill scylla
when
         the ships actually
                  headed towards charybdis 


okay but anyway



regarding my bete noir...


the on going  game 
of blind  workin' mans bluff


where a slippery  bunch of suited up fellahs 
  comprehensively 
wired into  wall street
get to jigger crudely 
with 
 credit flow  rates
in a  job killing is not murder 
if by 
  throttling   nominal wage fund  expansion 

"we"
lift dah  sacred private profits ....


every day
five times a day
u should meditate this 
  issue 

my thought for this  daily 
silent rosery  

first bead 

  work is real 
money is ideal 

second bead

 there is no savings beyond storage
al else is transfer


third bead

 credit is not saving 
 saving is not investment 
borowing is not taxing
taxing is not profiting 
expolitation is everywhere 

investment is not production
nor construction nor work 

--------------------------------------------
now for some policy:

 

like gentle ben 

i'm for inflation targets ...sure why not


but but but

now this notion of  public  targets is out there 

why not let the congress set em 

say 
every two years let the house
                  lay out a  rate fairway for the fed 

no make that  three  rate fairways

let the house set
the  rate ranges 
for 

  inflation 

 gross employment 

  and

    dollar  exchange 

 

ya ya ya

let the house  set the border pegs 
                     between which the fed has to keep its rate 

 determining
 the width of the fairways 
so to speak
will become a public thang 

 
let the house  debate 
"the  consistency"
                        of the three  proposed fairways
                         with each other 
                                 and  
                       with our national welfare 

---------------------------------------

my idea :

bore the shit out of most 
              c-span addicts 
but 
by this ritual 
make the  nation's credit policy process
             not only
             press and groupie  transparent
       but 
           absolutely  paramountly
                         powered by  the people's elected agents

       as in 
         elected  on a promise  -> un elected  
                                   on a betrayal of a  promise  



hey last thing we needed back in 1912 
was a supreme court of credit

err

but thats just about what we got

unelected unaccountable unremovable 

only nice thing

as a pure creature 
     of the congress 
and not the constitution
         our feds a sitting duck 

the supreme court
   can't protect
her sister  wall street star chamber's 
                                 "independence" 
                               from the peoples' will

so long as 
 we don't all die of wonkitis
before hand


this way 
every two years
we can vote in the  fed  trifecta  of our choice 

errr
subject to  senate clag hornery 
                    and the prezly  veto of course 

but come on
             that at least turns it into
                                 a camel race