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Head of Vatican Bank – Obama policies disastrous June 21, 2011

Posted by Tantumblogo in awesomeness, Basics, Dallas Diocese, disaster, foolishness, General Catholic, Interior Life, sickness, Society.
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OK, he didn’t point out Obama’s policies by name, but he did state that ridiculous levels of government spending leading to high debt actually decrease the potential for economic recovery, while also stating that Western nations need to increase their productivity in order to spur economic growth, which means, at a start, having more babies:

The head of the Vatican bank sees a bleak economic future for the world’s industrialized countries, unless they can reverse a decline in productivity.

Ettore Gotti Tedeschi, writing in L’Osservatore Romano, says that he expects economic growth in the developing world, and a decline in the West. “The law of economic gravity will progressively transfer investments to emerging countries,” says the chief Vatican banker. With capital flowing elsewhere, he says, the level of consumption in the Western world will be “unsustainable.” He suggested that the best way for Western countries to counteract the trend would be by increasing productivity and encouraging exports to the developing world.

Gotti Tedeschi argued that government efforts to revive the economy by public spending have actually worsened the problem. “Many think that individual States need to intervene in order to resolve economic problems,” he said. “But that happens with an increase in public debt. Countries that have chosen this path now regret it.”

Why babies?  Because human capital is the number one source of growth in productivity.  If you want to make more things, transact more business, having more people to support those activities is the first, crucial step.  You can argue for more automation or streamlined regulation and all kinds of other ways to increase productivity, but they are small potatos compared to growth in population.  Why is it that China, India, Vietnam, and other countries are experiencing explosive economic growth, while growth in the US and Europe is stagnant to declining?  Because they have vast and underutilized populations. 

High birthrates are a key player in economic boom times.  Low birth rates universally prefigure economic decline.  It’s not a zero sum game.  More babies do not take away resources from those already here.  They help create MORE resources, more jobs, and more growth. 

Foolishly generous welfare benefits (a never ending and always growing transfer of wealth), which, I must add, are frequently advocated for by the apparatchiks at the USCCB and in many chanceries, actually work to undermine economic growth – first by denying capital for private investment, and then by inducing a societal malaise, so in evidence in most of Europe, that leads to low birthrates and hence economic stagnation.  The false god of the social welfare state traps people in such a self-indulgent laziness that all available evidence (from Europe, Japan, Russia, etc) shows they can’t even bother to reproduce.  Not at any economically sustainable rate, anyway.

Want a strong culture and growing economy – reinforce traditional family life and have more babies.

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