Tea Party Imbecile Seeks to Destroy Dollar

What is the obsession that these imbecilic Tea Party folks have with returning the U.S. dollar to a gold standard? Today's contribution to the dumbing down of the Republican Party comes from South Carolina State Representative Mike Pitts. Pitts introduced a bill in April to make gold and silver coins legal tender in the state. Similar efforts are underway in more than a dozen state capitals, as Tea Party geniuses show support for stupid ideas so they can stick it to the federal government. The ultimate goal of efforts like Pitts' is to return the nation to the gold standard, in which every dollar would be backed by a fixed amount of gold. Tea Party folks say this will help the economy. People with actual economic training say the plan would destroy the economy — not that it matters to Pitts. Yes, you read that right. This genius doesn't think that economists — doctorate-holding professors and experts in the fields of finance and economics — know as much about the effects of swapping to a gold standard as he does. Apparently he “doesn't need no book learnin'.” "Quite frankly, I think that economists from universities are thinking within the confines of their own little world," Pitts said. "They don't deal with the real issues." Of course they deal with thinking within the confines of their own little world. That little world happens to involve an intense, deep understanding of how economies actually work, rather than the half-baked regurgitation of what Bubba J. Davis picked up at the latest Ron Paul meeting. Most of the world operated on a gold standard until the Great Depression. Why did the world drop the gold standard after the Great Depression ended? Because the gold standard policy helped cause the depression and earlier severe downturns by limiting the amount of money the government could create, constraining its ability to stimulate the economy. Returning to a gold standard now would destroy what little remains of the economy, and guarantee that the next decade was roughly as painful as the Great Depression, but without the promise of ever coming out of the death spiral.