An Immortal Friedman Quote

by Smitty (h/t pedbsktbll in the Google Reader)

Inflation is the one form of taxation that can be imposed without legislation.--Milton Friedman

That quotation is mentioned in this clip:

Also appearing in the video is Ron Paul, whose End the Fed is well worth your attention, irrespective of your opinion on the rest of his policy positions.
So when the fertilizer hits the air circulator, what will happen? Here are a few speculations for consideration:

• Some kind of full-on conventional war, with possible scattered fallout of the nuclear variety. Once one of the world hot spots like Iraq or Afghanistan bubbles over, the grave is the limit.
• Collapse of the US government, through the currency trojan, and assumption of world power by plutocrats, using a UN façade, one presumes. While I don't suspect the vast bulk of the rubes on the left of even knowing of this plan, my gut says this is what the HMFICs are pursuing.
• A turnabout, where the spirit of the Constitution is resurrected. Details of such might include a phased roll-back of Entitlements to the States. It could start by admitting that Fanny Mae and Freddie Mac are, at best, experiments gone awry. Remit all of the data for the loans to the States of which the recipient is resident. Give a couple of years warning to the States, so that they can figure out WTF to do. Then roll backwards in time, kicking every single stupid entitlement back to the States, up to and including that Mother of Abominations, the Social Security Act. After that, you kill the Federal Reserve and the 16th and 17th Amendments.

Would that last scenario buy happiness? Of course not. What it would buy is the additional stability allowing States to turn themselves into Progressive Paradises (Massachusetts, Michigan, California) without taking down the other 47.

There Is No Bulletproof Answer.

What does exist is containment for inevitable policy failures.