'Going Galt' is a Futile Fad

“Going Galt: America’s Wealth Producers vs. Wealth Redistributors” is an interesting essay by Michelle Malkin posted at townhall.com.

It starts off with “Enough” which is so perfectly pithy because “In a word, that is the message of disgusted taxpayers fed up with the confiscatory policies of both parties in Washington. George Bush pre-socialized the economy with billion-dollar bailouts of the financial and auto industries. Barack Obama is pouring billions more down those sinkholes. It isn’t just the camel’s back that’s broken. His neck and four legs have all snapped, too.” Hahaha! Exactly!

And speaking of necks and legs snapped in an “enough” kind of way, it reminds me of a joke where the guy walked into a bar and bragged that the famous Frank Sinatra once saved his life. “Four guys were beating the hell out of me, see, and Frank walks in and said, ‘That’s enough, boys.’” Hahaha!

Well, apparently nobody liked my old joke and it seems that everyone is anxious to get back to this “Galt” thing, which turns out to have been originated by Dr. Helen Smith, who is a Tennessee forensic psychologist and political blogger who Ms. Malkin says “dubbed the phenomenon ‘Going Galt’ last fall” which is “a reference to the famed Ayn Rand novel Atlas Shrugged, in which protagonist John Galt leads the entrepreneurial class to cease productive activities in order to starve the government of revenue.”

Ms. Malkin notes, “Not coincidentally, Rand’s novel sales are up and John Galt references punctuated many of the Tea Party demonstrations”, which is pretty significant, but not as significant as the fact that guns and ammo sales are reportedly going through the roof, and in Florida there is such a crush that there is a 6-month backlog of Concealed Weapon Permits waiting to be processed!

She apparently is not interested in guns, and sums up the situation of “Going Galt” as being that “There’s only one monkey wrench that can stop the redistributionist thieves’ engine. It’s engraved with the word: Enough.”

Well, that “enough” thing reminds me that I am sure that one day, probably pretty soon, somebody in my family is going to say to me, for some stupid reason or another, “We need more money! You have got to get a job!”

My first instinct, of course, will be to panic and scram, ducking and weaving, jumping into the Mogambo-mobile and squealing the tires down the driveway, out into the street to disappear into the night, whose destiny is to become the fabled Mogambo-Man, superhero whose power is to incessantly whine and bitch about the absolute stupidity of the Federal Reserve, the Congress and the Supreme Court, especially as regards monetary and fiscal policy, and predict absolute mayhem as a result.

Obviously, a part of my Terrific Mogambo Plan (TMP) is the knowledge that I am going to need somebody new to put up with my Selfish Mogambo Crap (SMC) and do all that cooking and cleaning stuff, too.

And since Ms. Malkin is young, very cute and probably makes a lot of money, she would not only be perfect for the job, but I wouldn’t have to work! Wonderful!

So, I don’t want to offend her, so don’t tell her I said so, but I think that this is all pretty funny and ridiculous, and now that I think of it, I will just come out and say that Ayn Rand came up with this “don’t work and starve the government of revenue” idea for the fictional John Galt in her novel Atlas Shrugged, which was written in 1957 when the dollar was still more-or-less linked to gold and thus the money supply was constant.

Back then, the only place that the government could get money was to borrow it from those who had saved their money, whereas today the poor old dollar is just a piece of fiat currency or computer-embedded digital crap that the Federal Reserve can create more of anytime it wants, whether or not anybody ever saves any! Hahaha!

So, if you think that the federal government needs your stupid tax money or that you can hurt them by working less, then I laugh – Hahahaha! – at the very concept! The Fed can, literally, create unlimited amounts of credit in the banks, which becomes unlimited amounts of money, with which to buy unlimited amounts of Treasury debt so that the government can spend unlimited more amounts of money than it collects in taxes!

And the only thing you can do about it, because the amount of corruption is always at its maximum at the end of long monetary booms, is to save yourself and get rich by buying gold, which is a bet against government and their stupidity, and which is the only sure-fire, can’t miss bet you will ever have in this cold, cruel world.

The Daily Reckoning