I am disturbed by some of the things I am reading in some conservative blogs. I’m talking about those who ridicule libertarians in particular for “throwing away” their votes. The insinuation is that if Obama is reelected, it will be their fault. I do not agree with that way of thinking. I have the utmost respect for libertarians standing on their principles and deciding to vote for their third Party candidate. If Obama is reelected, the only people we should fault are those that voted for him not those that voted for someone else who wasn’t Romney.
Having said that, would I like to convince libertarians to vote for Mitt Romney? Yes, i would. If we are to defeat Obama, we will need every vote we can get for Romney. My support for Mitt Romney is what my libertarian friend, Country Thinker, would call a strategic vote as opposed to a principled vote. If I were to stand on my principles, I too would vote for a third party candidate.
In the interest of full disclosure, I am not a fan of Mitt Romney or of the Republican Party. I believe that the most critical problem facing America is our ever-increasing mountain of debt. I am under no illusion that a Romney administration will do anything serious to deal with the debt issue, at least not voluntarily. Yet I am supporting Romney because I believe a Romney administration will be significantly different from another four years of Obama. A Romney administration will cut corporate and other taxes and will get rid of many overreaching regulations that are strangling the life out of our economy and will open up federal lands and the continental shelf to oil and gas exploration and development. These policy changes should create an environment where our economy can start to grow and we can finally have a real recovery. None of these policy changes will happen if Obama is reelected.
A growing economy would be very good for America, of course. But that is not why I am supporting Romney. Remember, my desire is for the next administration to tackle the debt crisis before it explodes in our faces. I believe that the policies of a Romney administration will get our economy going again; but I also believe there will be unintended consequences to a growing economy.
Please bear in mind what you are reading is nothing more than my opinion. And, I would be the first to tell you that my opinions carry less weight than a molecule of air. So, with that disclaimer, let me tell you what I think the unintended consequences of a Romney administration would be.
First, I believe if our economy start to grow again we are going to see some serious inflation. Now growing economies do not cause inflation. But creating money out of thin air does. The Federal Reserves has been creating money out of thin air ever since 2008 with their QE1, QE2, and, QE2.5. The big Wall Street banks have been able to borrow this funny money from the at almost no cost and invest in the stock markets for a good return. They, we are told, have over $2 trillion sitting in excess reserves at the Fed. But you can bet when the economy starts growing, the greedy bankers are going to want to get in on a good thing and those trillions of dollars that were created out of thin air are going to enter the real economy and the result will be inflation. So, what could be possibly good about inflation? Ask your self what does the bond market hate the most? The answer is inflation. So, if my strategy is correct, the second unintended consequence of a Romney administration’s policies will be that the bond market will respond to the inflation by driving bond prices down and interest rates up. Higher interest rates will seriously ramp up the cost of serving our debt, which is already over $400 billion per year.
My thinking is that the combination of these two unintended consequences will force all the clowns in Washington, both the “D’s” and the “R’s” to finally deal with our debt crisis. Their only other option would be default. They will be forced by events to introduce austerity programs similar to what many European countries have already started. there will be one very important difference, however. Our friends in Europe are having to deal with their debt crisis at a time where their economies are at best stagnant and in most cases shrinking. If my strategy works, America will have the chance to deal with its debt crisis while its economy is growing, which will go a long ways toward mitigating the pain.
So, there you have it, my friends. This is my lighter than air opinion of why I think supporting Mitt Romney is a good strategy for America. This is why I think my principled libertarian friends should put their principles aside and vote for Romney. But, if they decide to stand on their principles anyway and if Obama is reelected, I will not be pointing the finger of blame at them. If Obama is reelected, the fault belongs to those that voted for him and no one else.
Well, that’s what I’m thinking. What are your thoughts?