Do you know what causes recessions? Do taxes and regulations, or the lack of same? To hear pundits, these are the only possibilities worth debating.
But the biggest recessions are noticeably world-wide, affecting market and mixed-economies alike. What all nations hit by the Great Recession share are Central Banks.
If you've read a macroeconomics text book, you're familiar with the Business Cycle and the four phases of the cycle the economy goes through.
You know there's expansion, peak, contraction, and trough. The typical text book will treat the Business Cycle as a natural, permanent part of a market economy.
Whether your text book was written by Paul Samuelson or Greg Mankiw, you'll likely be left with the impression the Business Cycle is just the cost of having a market economy.
While I respect these mainstream academics, I believe some non-mainstream thinkers have a better answer.
I believe that one economist that went down in history in disgrace actually discovered the cause and cure to the Business Cycle. His name was Irving Fisher.
Long story short, Fisher developed the Debt-Deflation Theory in 1933. The Business Cycle was actually a Credit Cycle, where expansion occurred until borrowing reached it's zenith, then contraction occurred once the economy ran out of borrowers.
I believe Fisher's theory was right, and making his program the basis of my plan.
Irving Fisher advocated for a money supply not issued from a central banking authority, but from the treasury. The currency issued from the US Treasury wouldn't be a debt instrument, would cure the Business Cycle, and would pull the nation out of debt.
I completely agree.
Let me ask you a question. Is it smarter for a nation to borrow 100% of it's currency into existence and needlessly accumulate debt, or to mint and print a 100% profit on the creation of the currency?
That's my campaign in a nutshell; a 200%-plus turnaround simply by changing how we create the currency.
You'll want to see my FAQ for more information on this topic.
Ending recessions forever is only the first objective in fulfilling the promise of America.
Learn how we plan to conquer the debt.
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