Will Grigg?s Liberty Minute

November 28,2008

Barack Obama has outlined a huge and massively expensive economic package that would spend hundred of billions of dollars on public works projects. He insists that huge public expenditures are necessary to lay a strong economic foundation and to stave off the threat of deflation.

Deflation refers to falling prices that follow the bursting of a speculative bubble. It is a painful but necessary process that purges an economy of toxic mal-investment in much the same way that a fever burns an infection from an afflicted body.

Keynesian socialists seek to treat that fever as if it were the economic disease, rather than a part of the cure. To prevent falling prices, socialist policymakers treat the economy with a larger dose of what caused the sickness in the first place: Inflation.

Building an economy on the foundation of printing press money is literally as foolish as building a home on quicksand.

Let us take back the liberty wherewith Christ has made us free.