Dr. Peterson tells us, "The US is facing nearly intractable financial problems because our politicians have made too many promises that they will not be able to keep. While our nation's formal indebtedness already is approximately as large as our total Gross Domestic Product, that debt is only the tip of the iceberg."
"Financial and Political Prospects for the US"
He continues,
"Our actuarial debt exceeds our national income many times over when all future promises and guarantees issued by our government are taken into account as well. Yet our politicians continue to make unaffordable promises. Something must be done but the political environment is such that it appears that politicians will not take corrective actions before we encounter serious financial and, potentially, political problems. We need to have a change in the political mindset of the country toward more individual Liberty and self-reliance and away from governmental dependency and collectivism, but it appears that the public is not inclined to do so. Thus, it likely will take many years of economic and political education and overcoming some major crises before the public is willing to change its mindset.
Before the national mindset can be changed and our potential problems can be alleviated, young people must be educated in the benefits of private property ownership versus collective property ownership, free markets in which property and property rights can be exchanged by individuals in order to maximize welfare and innovation, and the importance of an impartial rule of law that applies equally to all people and property exchanges (rather than favoring the politically connected). In addition, we need to support the few politicians who exist at the present time who attempt to limit governmental profligacy at all levels of operation."Held:
Saturday, January 31, 2015
Mahon Public Library
In the Community Meeting Room
10:00 a.m. to 12:00 p.m.
1306 9th Street
Lubbock, TX 79401
About:
Dr. Richard "Chip" Peterson holds a B.S. in Economics from Iowa State University (1962). He also received his M.A. (1965) and Ph.D. (1966) in Economics from the University of Michigan. He is Professor Emeritus (Finance), Texas Tech University and has previously been (but not limited to): Professor of Finance and Holder of the I. Wylie and Elizabeth Briscoe Chair of Bank Management, Texas Tech University; C.E.O. Lubbock Asset Management Co.; Associate Director of the Credit Research Center, Purdue University; Financial Economist on the staff of the Board of Governors of the Federal Reserve System; Assistant Professor of Economics, Southern Methodist University.Chip's political service encompasses:
- Former Member of County Executive Committee, Lubbock County Republican Party
- Precinct Chair, Republican Party, Precinct 75, Lubbock, Texas
- Candidate, United States House of Representatives, District 19, 2004, 2008, 2010, 2012, 2014
- Delegate, Texas Libertarian Convention, 2000, 2004
- Texas Delegate, Libertarian Party National Convention, 2000
Dr. Peterson has also coauthored numerous editions of a leading college textbook titled Financial Institutions, Markets and Money (most recently published by John Wiley & Sons in 2006) and authored a book for the general public titled The REAL Social Security Problem: What Everyone Must Know Before It’s too Late (Financial Economics Publications, 1998). He has owned and managed real estate and a wide variety of financial assets. His wife, Carol, taught computing and was Area Coordinator for Micro-computing for many years at South Plains College in Lubbock, Texas before retiring in 2001 and is an award winning watercolor artist.
For more information visit ChipPeterson.com.
Organized:
Amanda SmithContact:
LubbockLiberty@gmail.com
http://www.LubbockLiberty.com
Lubbock Liberty Workshop #11
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