What Thomas Jefferson Knew That Paul Krugman Never Learned

And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

Letter from Thomas Jefferson to John Taylor, May 28, 1816.

H/T to Robert Gore of the Straight Line Logic blog

Of course, Thomas Jefferson wasn’t an economist with a Nobel prize; so what did he know? He knew the risks of deficit financing, that’s what!

Well, that’s what I’m thinking. What are your thoughts?

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6 thoughts on “What Thomas Jefferson Knew That Paul Krugman Never Learned

  1. Krugeman, Summers,et al know not their ass from a hole in the ground. What they do know is steeped in failed ideology and self interest today supported and nurtured by a corrupt and treasonous administration government in the hands of two corrupt and treasonous political parties.

  2. Infidel, you need to stop watching MSNBC 🙂

    I wonder what our Founding Fathers would think if they saw our debt in the TRILLIONS!
    Great post.
    And your site looks marvelous!

  3. We can learn so much from the founders, they truly were ahead of their time. Of course that is why the younger generations are not being taught about the founders or the founding. The liberals do not want the youngsters to know what the true role of our government is supposed to be.

  4. Jefferson is one of the ten people I’d like to sit with around a table with for one long evening, over a good dinner, good wine and great conversation. He doesn’t seem to have been wrong on anything, including his view of foreign policy entanglements.

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