But what does [financial repression] actually mean? The simplest, most encompassing explanation is this: it describes various insidious and underhanded methods by which the State intends to rob its citizens of their wealth and income over the coming years (and perhaps even decades) above and beyond the already onerous burden of taxation and regulatory costs that is crushing them at present.And, of course, insidious methods of State-sponsored theft + large numbers of low-information voters = disaster.
Thursday, October 11, 2012
"Financial Repression"
A longish post at Zero Hedge on the ways governments steal money from their citizens - longish, but well worth reading. Just a taste:
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Would any of this be covered under Obo's new "economic patriotism"?
ReplyDeleteDeborah Leigh said...Los Angeles just took $56,000 motorists' returns. They just took them!Haven't even heard about it on the local talk shows.
ReplyDeleteinsidious methods of State-sponsored theft
ReplyDeleteto make it seem even bleaker keep in mind that sometimes it is the result of sheer incompetence and a failure of imagination of what can be done.
("inflation? we'll just print more and more money because what else can we do?")
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