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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (18193)3/6/2004 5:07:26 PM
From: GraceZRead Replies (2) of 306849
 
destroying our own economy

Where we differ is that what you think destroys the US economy is what I think strengthens it and what you think strengthens it is what will destroy it. History has proven this over and over, unfortunately most are ignorant of this history so we have to keep learning from the same mistakes over and over.

Here's a quote from one economist on the subject, written in 1962 and it still holds true today:

It is not too much to say that the most serious short-term threat to economic freedom in the United States today- aside, of course, from the outbreak of World War III- is that we shall be led to adopt far-reaching economic controls in order to "solve" balance of payments problems. Interferences with international trade appear innocuous; they can get the support of people who are otherwise apprehensive of interference by government into economic affairs; many a business man even regards them as part of the "American Way of Life"; yet there are few interferences which are capable of spreading so far and ultimately being so destructive of free enterprise. There is much experience to suggest that the most effective way to convert a market economy into an authoritarian economic society is to start by imposing direct controls on foreign exchange. This one step leads inevitably to the rationing of imports, to control over domestic production that uses imported products or that produces substitutes for imports, and so on in a never-ending spiral.
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