Regarding “Inflation” why do journalists, politicians and financial analysts rarely tell the truth that “inflation” is an increase in the supply of money and credit created by government? It is this expansion that causes rising prices.
According to the Federal Reserve, the M1 money supply (money in circulation plus checking accounts) increased from $3.99 trillion in January 2020 to $20.58 trillion in January 2022. Nearly all resulted from the federal government printing and spending dollars. A fraction came from people exiting M2 (savings accounts, time deposits) and various investments to cope with inflated prices.
Prior to 1933 our currency was backed by gold and redeemable in gold, thus preventing the government from over printing dollars. Thereafter, the U.S. Treasury and the privately-owned Federal Reserve Bank began issuing completely un-backed “fiat” dollars, thereby devaluing every existing dollar.
Flooding the nation with fiat dollars explains why prices are skyrocketing and our national debt increased from $17.2 trillion to $31.1 trillion since January 2020. At www.USdebtClock.org you can watch the national debt (and NYS debt) increase faster than you can read the numbers.
Federal budget deficits total $1 trillion annually, all added to the national debt. Annual interest on the national debt totals $446 billion, the fourth largest budget item.
The solution to this dead hand of government is to stop printing fiat dollars, return to the gold standard, audit the Fed, and slash spending, taxes, regulations, and debt to unleash the free market and grow us out of this suicidal path to destruction.
Robert Dufresne, Rensselaer
We Really Know Nothing About State Judicial Candidates
We hear about their time in the Rotary Club, or as Girl Scout Leaders. Perhaps we hear about drug diversion or youthful offender programs in the courts. The candidates tell us about their husbands, wives, and kids. We’re told generically about how “experienced and fair” they are…
But we’re kept from knowing whether the judges really stand up for the rights of New Yorkers. This is especially true for courts with jurisdiction over criminal matters. Many New York judges appear to bend over backward in protecting the rights of those on trial – often well beyond what constitutional standards require. Consequently, the collateral rights of innocent crime victims are effectively pushed aside.
Come election time, we’d like to know if a judge – while being fair and impartial – is still tough on crime, and on the defendants who are on trial. Anyone who thinks judges do not and cannot influence the outcome of a trial because of inherent bias is very naïve.
There are a number of reasons why New York exemplifies the highest standard in the nation, in terms of being soft on crime and soft on criminals. The laws and our liberal legislators, who ensure criminals are viewed as societal victims instead of perpetrators, are certainly at the forefront. But judges at the trial-level also have a tremendous effect on criminal trials, by way of their influence on a jury, decisions on trial motions, evidence admission and testimony, and many other procedural and substantive factors.
Judicial candidates in the election season appear to be constrained by the courts from saying anything substantive about their views and their record, via regulations like the Campaign Ethics Handbook. In theory, this promotes the integrity and impartiality of the judges. In practice, however, it’s a convenient way to hide a candidate‘s performance and judicial philosophy – attributes that should be more important to voters than the wide smiles on campaign posters.
Frank Coppa, East Greenbush
Vote for the Congressman You Deserve
In November, voters here in Rensselaer County have the opportunity to make history by electing Matt Castelli to replace Elise Stefanik in the 21st Congressional District. The race is very, very close and the election will depend on you deciding what you deserve from your representative in Congress.
If you think you deserve a congressman who will spend his time in your district and not at Mar-a-Lago, VOTE FOR MATT CASTELLI.
If you think you deserve a congressman who tells you the truth about the 2020 election, VOTE FOR MATT CASTELLI.
If you think you deserve a congressman who will not allow a mob attack on our national capital, VOTE FOR MATT CASTELLI.
If you think you deserve a congressman whose campaign is funded by voters in our district and not by unidentified corporate money, VOTE FOR MATT CASTELLI.
If you think you deserve a congressman who can produce more for our district than the renaming of a post office, VOTE FOR MATT CASTELLI.
But, most important, if you think you deserve a congressman who will work to promote decency and compromise and progress and not extremism, conflict and violence, VOTE FOR MATT CASTELLI. Matt is a former CIA employee who has spent months meeting the people of the21st Congressional District. He created the Moderate Party, to show his independence.
Elise has allied herself with the extreme politics of our former president and continues to promote his lies, his greed and his disrespect for our Constitution.
What you deserve?
Bob Crowley, Poestenkill
Democracy is on the Ballot
There are so very many issues that voters are concerned with, and rightfully so. I believe the most important issue is defending the right of people, all people, to vote. But apparently, both Elise Stefanik and Lee Zeldin would disagree. Because both apparently didn’t like the results of the 2020 election, they opted to vote against certifying that election. In my mind, that is nothing more than a power grab and makes them ineligible to hold office. Unfortunately, throughout the country, numerous Republican officials are making it more difficult for voters, especially voters of color, to cast their ballots. And this current Supreme Court could make it easier for them to get their way. I’m not a fan of Kathy Hochul, but Lee Zeldin scares me. And Stefanik as well. So, cast your ballot, with the idea that democracy is under fire, and we’ll deal with all the other issues at another time.
Philomena Valente, Averill Park