Friday, November 7, 2008


According to documentary I.O.U.S.A. (IMDB), American debt is out of control.

Ron Paul was the only Presidential candidate concerned about Fiscal & Monetary policy, and has been complaining for over 10 years.

Many quantitative thinkers have been screaming, but the politicians aren’t listening to their advice. Paul O’Neill, Bush’s Secretary of Treasury, was fired in 2002 because he disagreed with Bush about the debt problem. This supports our argument that political leaders (Obama and McCain included) are victims of democracy, pick advisors who help them win elections and discard advice related to the long term after they are gone from office.

With these huge debts, one generation is massively stealing from the young.

With a dozen people on the street, the movie asked questions like:

  • How much is our debt?
  • What does trade deficit mean?
  • How does the government borrow money?

They were clueless.

Most people do not know the difference between the deficit and debt, or what fiscal or monetary policy are. This is one of the problems with democracy.

Obama and McCain are offering lower taxes and increased spending, which will drive the country into bigger deficits and debt. This can only be explained by one of the following:

  • they care more about short term advice to win the election
  • they’re qualitative thinkers and don’t understand quantitative matters

This supports our argument that buying votes (offering lower taxes and increased spending) is an easier way to get votes than by showing how you can improve the economy for the long term, which voters won’t understand. This is the other problem with democracy.


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