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Rational Millennial? Fighting for 5 economic reforms…

 posted on January 6, 2014 (and selected as one of the top posts)

I remember when I first began to understand the issue of poverty.

We were not wealthy by any means, but we weren’t impoverished. The concept perplexed me.

One day I came up with a brilliant idea and suggested it to my dad:

“Dad, why don’t we just give money to everyone so then everyone has money?”

“We are supposed to give money, Matt. Jesus wants us to give to the needy.”

“No, I mean why doesn’t whoever MAKES the money… like wherever the money comes from… like the president… why doesn’t he just print out a bunch of money and GIVE everyone a million dollars? Then we are all millionaires and nobody will ever be poor again!”

That’s when he told me about things like taxation, and inflation, and how pricing works.

He explained that if EVERYONE suddenly has a million dollars then, in effect, nobody has a million dollars.

Having a million dollars would be like having 3 pennies. If you could end poverty by printing money and handing it out, then there wouldn’t be poverty anywhere.

And thus ended my brief flirtation with liberalism. I was six years old.

In other words, I became too mature for liberal economic theory, but I still ate Elmer’s glue during art class (a habit I’ve yet to break — the stuff is just delicious).

Not all kids develop at the same pace, though. Which is probably why someone in my generation — purporting to speak for my generation — recently penned a piece for the Rolling Stone called “Five Economic Reforms Millennial Should Be Fighting For.”

The author, Jesse Myerson, points out how us Millennials have been “especially hard hit” by the economic recession.

This, of course, is everyone’s fault but ours. Our personal debt? Well, that’s, like, because of society.

And the bankers! The bankers did this to us! You decided to take out a college loan you couldn’t afford? Maybe put a bunch of iPhones and laptops on credit? Bankers! Wall Street! The rich!

Because that’s how the young generation should approach life — powerless, whiney, looking for someone to blame. A recipe for prosperity, is it not?

This is the philosophy that Myerson espouses. And he does it while using phrases like “you know else blows?” and “as much as unemployment blows, so do jobs.”

I’ve got nothing against the guy personally. I don’t know him. I’m sure he’s a decent enough fellow.

But what he represents, and the dull, juvenile, inarticulate, “hip,” way in which he communicates it — that’s what I hate. I hate it because it’s the sort of thing that festers on the soul of my generation like a toxic mold, and it will kill us all if we don’t work to eradicate it.

His idea for “reforms” to help my generation are:

1. Give everyone a job!

It’s that easy, dude. Unemployment blows! Just sayin’. Lolz. How do you correct the problem of people not having jobs? Well, magically create a job (and a market for these new jobs) out of thin air! Easypeezy lemonsqueezy.

2. Give everyone money!

As the author notes, “jobs blow” also. So if people don’t want to work — just hand them cash!

3. Have the government seize private land and give it to people!

What could go wrong?

4. Let everyone own everything!

And by “everyone” we mean the government. See, we have to take wealth and property away from the wealthy elite, and then promptly hand control of it over to the government… which is run by wealthy elite.

Oops.

5. Public banks!

Well, the IRS already has unfettered access to your money, and now Obamacare owns the rest of you, so why not? The author makes the point that government run banks don’t make “seedy deals.”

Yes, governments totally never make seedy deals.

Government: honesty, transparency, and fairness. And unicorns.

Now, as a Millennial myself, I thought I’d offer a different perspective.

We young people can sit around begging Uncle Sam to give out jobs, money, and land for free, or we can develop a different strategy for long term economic success and security.

Here are my proposals for five economic “reforms” we, as individuals, and especially as young people, can immediately instate:

1. Don’t go to college unless you actually need to be there.

14 million people under the age of 30 have outstanding student loans. The average debt for the class of 2012 will be just under 30,000 dollars.

Meanwhile, the median income for that same age group is about 23,000 dollars. This is what happens when you take out massive loans despite having no financial assets, no job, and no coherent plan for the future. Here’s how we cure this problem:

Stop doing it.

Go to college if you NEED to go to college. Go to college if you have a PLAN for the future that makes college a NECESSITY.

Go to college if you won the megamillions jackpot at the age of 18 and can now afford to take a four year vacation. Because that’s what college is for many — not all, many — of the bright young folks who attend.

We’ve got kids bankrupting themselves for the sake of getting drunk and passing out on vomit-stained couches for the next 48 months. This is insanity.

College is a means to an end. It isn’t a destination unto itself.

Don’t go for the “experience.” You want an experience? Move out of the house and get a job. Pay your own rent. Get evicted from an apartment for failure to make a payment. Work 3 minimum wage jobs at the one time. Mop floors.

Go a winter without heat because you can’t afford to keep it on and eat at the same time. Run out into that cold, wild world and muscle your way to the top of it. THAT’S an experience.

You want to be an engineer? A doctor? An astronaut? An architect? By all means, go to college.

You want to build cars or become an electrician? Maybe a trade school is in your future.

You have absolutely no clue what you want out of life, what your talents are, or what career path best suits you? College isn’t for you.

In fact, college is an objectively BAD idea for anyone in this category. And this is a category that includes, for instance, most college students.

Don’t want debt? Then don’t borrow money. If you do borrow money, you better have a good reason. Hint: “Eh, I’ll figure it out” isn’t a good reason.

2. Don’t buy things unless you can afford them.

This is more of an addendum to point 1. But it’s a basic budgetary principle that escapes many of us.

Before you buy something, ask yourself: do I have the money to pay for this? Remember: if your debt exceeds your financial assets — you don’t have any money. And “your money” really only includes what you have leftover after your bills for the month have been paid.

It’s a good thing the news constantly reminds us about how poor we are, because there’s little evidence of any of this at America’s shopping malls and Best Buys.

It’s interesting: my generation is saddled with unemployment and college debt, yet how many of us own smart phones? Like, everyone? Those things aren’t cheap.

Something isn’t adding up here.

3. Work hard.

Will working hard guarantee you wealth and happiness? No, nothing guarantees you anything.

You might get screwed over by a vindictive boss. You might get into a horrible car accident and lose three limbs. You might die tomorrow on your way to the gym. Horrible things will happen to you. But if you’re my age and the first step in your plan for success isn’t “work my butt off,” then you have a problem.

You are a problem.

Fix it.

I suppose there might be some people out there who oversimplify and act as though hard work can achieve literally anything.

But far more common, and far more dangerous, are the naysayers who insist that you have NO control and NO say over your lot in life.

On the bright side, they offer a convenient excuse to people who’ve failed due to their own laziness, apathy, and complacency, but this also has the necessary effect of belittling and diminishing the people who’ve struggled against immeasurable odds to achieve their dreams.

So, you might feel rather charitable telling an inner city drug dealer that he is a victim of his environment and not responsible for his choices.

Now what about the guy who climbs out of the gutter to conquer and inspire the world? If the first guy isn’t responsible for his choices, neither is the second.

You just took that man’s achievements from him and turned his life story into a simple roll of Fate’s dice.

How dare you. You should be ashamed.

4. Develop a marketable skill.

Imagine a job interviewer asking you this question: “So, what are your skills?”

If you don’t have an answer, you better be charming as hell, because that’s your only chance at landing the gig.

Most of us, however, aren’t that likeable. If we want to work in a particular industry, we need to have something that we do.

Skills are honed and developed over time; this is a process that you should start before you even graduate high school. If you have a useful skill, you’ll always have a way to make money. It really is that simple.

5. Save money.

I used to think it was more fun to spend than save. Then I grew up, and began to understand the joy of making sacrifices in the short term, so that I might have some financial security in the long term.

Social Security ain’t gonna be there for us, my friends. Our parents generation will cash out and leave us in the lurch. It’s a bad hand, but it’s the one we’ve been dealt. Deal with it. Save your own money for your own future.

Well, it isn’t as sexy as free money for everyone, but this is my proposal.

The best part is that we don’t have to wait for any politician or president to make this happen. We can do this now. And we should.

And we need to.

We don’t have a choice.

Do you care to hear the story of the “Dollar Bill”?

Note: If you like to hear the story from the beginning https://adonis49.wordpress.com/2012/06/10/privately-owned-federal-reserve-bank-how-the-rothschild-family-controlled-the-printing-of-the-dollars/

First, the name “Federal Reserve Bank” is not federal, nor is it owned by the government. It is privately owned.

Its employees are not in the civil service. Its physical property is held under private deeds, and is subject to local taxation.

It is an engine that has created private wealth that is unimaginable, even to the most financially sophisticated.

It has enabled an imperial elite to manipulate US economy for its own agenda and enlisted the US government itself as its enforcer.

The US Federal Reserve Bank controls the times, dictates business, affects Americans’ homes and practically everything in which Americans are interested.

It takes a powerful force to maintain an empire, and this one is no different.

The concerns of the leadership of the “Federal Reserve” and its secretive international benefactors appear to go well beyond currency and interest rates.

Alan Greenspan, served as Chairman of the Federal Reserve from 1987 to 2006, stated at the annual Dinner of Francis Boyer Lecture of The American Enterprise Institute for Public Policy Research on December 5, 1996:

“Augmenting concerns about the Federal Reserve is the perception that we are a secretive organization, operating behind closed doors, not always in the interests of the nation as a whole. This is regrettable, and we continuously strive to alter this misperception.”

The privately owned Federal Reserve has confused the public, lied to them and stole their gold and silver.

All the perplexities, confusion and distress in America arise, not from defects in the Constitution, and not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation.

Of all the contrivances devised for cheating the laboring classes of mankind, none has been more effective than that which deludes him with paper money.

After many years of blundering toward it, and only a few months before the beginning of the World War 1, Rothschild found the formula for the most efficient credit machine that was ever invented. This was the Federal Reserve System.

Most people are unsure of the meanings of words such as money, dollar, wealth, inflation and credit. The average person would be very surprised if they knew how the money system used to work compared to how it operates now.

The essence of psychological warfare is to confuse the meaning of words, and infiltrate the mind with conflicting concepts.

The use of the word Federal in the name federal Reserve leads the public to believe that the Federal Reserve is a government institution, when it is really a private corporation owned by foreign and domestic banks and operated for profit.

The Federal Reserve controls America’s money supply and interest rates, and there by manipulates the entire economy, in violation of

1. Article 1, Section 8 of the United States Constitution that expressly charges Congress with power to coin money and regulate the value thereof, and.

2. Article 1, Section 10 of the constitution says “No State shall make any thing but gold and silver Coin a Tender in payment of Debts.”

Over time, gold and silver coins were removed from American money supply and removed as backing for American paper currency and replaced with debt (or credit).

The definition of dollar has changed to hide the fact that a dollar is not money, but a unit of measurement for gold and silver coin. For example:

1. Title 12 United States Code Section 152 says: “The terms lawful money or lawful money of the United States shall be construed to mean gold or silver coin of the United States.”

2. Title 31 United States Code, Section 5101 says: “The money of account of the United States shall be expressed in dollars.”

The recent equivalent to the goldsmith’s receipt for gold is the Federal Reserve Note. The word “Federal” implies Federal government, but the Federal Reserve is a privately owned corporation. The word “Reserve” implies that something gives the paper receipt value, but no gold or silver backs this paper.

The word “Note” implies a contract, because legally a note must state who is paying, what is being paid, to whom and when.

Most people say something like, “I have a dollar bill”. But what is a bill?

A bill is a receipt of a debt owed by one person or company to another. Therefore, a “dollar bill” is a receipt (or bill) of debt of one dollar that is owed.

From 1914 to 1963, Federal Reserve Notes never claimed to be money, nor did they claim to be dollars. A note for five dollars read: “The United States of America will pay to the bearer on demand five dollars.”

How can a promise to pay five dollars be five dollars?

To the left of the President’s picture and above the bank seal, it said: “This note is legal tender for all debts public and private, and is redeemable in lawful money at the United States Treasury or at any Federal Reserve Bank.”

In 1963, the Federal Reserve began to issue its first series of notes without the promise, while taking notes with the promise out of circulation. How can paper become what it promises by removing the promise?

To the left of the President’s picture and above the bank seal, it now read: “This note is legal tender for all debts public and private.”

A note is a proof of debt. It is not possible to pay off a debt with a debt. No debt can be paid in full unless paid in gold or silver, coined and regulated in value by Congress. The name “Federal Reserve Note” is a fraudulent label since each word claims to be something that in reality it is not.

By removing the promise to redeem the note in lawful money, the Federal Government in cooperation with the Federal Reserve, eliminated the monetary system of the United States as established by the Constitution and replaced it with something totally different.

If you are holding a one dollar Federal Reserve Note, the question is: “what is one dollar?

The answer is absolutely nothing. The number measures no substance.

The only thing that give paper money value is the confidence people have in it as is stated in chapter 30 of our textbook.

Federal Reserve Notes are only accepted because people believe they have value.

Note 1: https://adonis49.wordpress.com/2012/06/12/how-the-dollar-faired-since-1913/

Note 2:  The article was from Nalliah Thayabharan in response to my post: https://adonis49.wordpress.com/2012/05/15/super-nationalist-zionism-contributed-to-the-rise-of-the-third-reich/


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