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Of course it's making us poorer, however, the establishment doesn't want to talk about that. During the Presidential debates in 2011, all you're going to hear is the same old garbage: "We have to get our deficits under control...I propose we introduce this new spending program." Guys like Ron Paul and Ross Perot actually addressed the deficit and budget crisis in a proper way. I think Paul Craig Roberts said on the Alex Jones Show recently that we need another ACTUAL revolution
I wish she would've alerted investors about the coming crash a few years ago and the continuation of the financial crisis. Every time she interviews Peter Schiff, like this video, she's quite condescending.
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Well, the government is properly in collusion with JPMorgan and Goldman Sachs to keep the gold and silver prices down. They're also partners with GS with the latest "financial reform."
Toggle Commented Jul 5, 2010 on Conspiracy Refuted at A Dash of Insight
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Holy crap you had dinner with Friedrich Hayek? You are one lucky man! It must've been an informative and enlightening conversation! If I had a dinner with him, I'd ask him about everything from the World Cup to Barack Obama's Presidency to Murray N. Rothbard to Anti-Trust laws to his favorite food!
Toggle Commented Jun 20, 2010 on Austrian Economics Follow Up at Businomics Blog
A good way to predict the government's response is to read Murray N. Rothbard's "Economic Depressions: Their Cause and Cure." When I read this a few years ago, I was completely shocked because everything he stated in the book was what was going in government and markets. Austrian Theory has it all written down before it even happens. Also, when governments release figures like this, always assume it's deflated, or inflated, and expect the worst. Don't trust government!
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If the President actually thinks the U.S. is going to export anything except war, IOUs and fast food then he has another thing coming! I can't stand when they release the numbers showing a 3% growth but not realizing that a consumer economy is not a real economy. We need a manufacturing economy (, what's wrong with bricks and mortar?
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I'm one of those people losing sleep over deficits and debt. Virtually every nation in the world is bankrupt because they all have large sums of debt. I live in Canada and we have more than $500 billion in debt and $56 billion deficit, very small compared to the United States of course. The problem in the U.S. is the fact that they have so much of it: $13 trillion debt, $1.6 trillion deficit and $107 trillion in unfunded liabilities and expenditures. My question is, where will the money come from? They can't tax people anymore, they're taxed to the death. They can't borrow the money anymore because countries like China are fed up with the Fed and the Treasury. The only solution for the Keynesian government: Print, print and print more. Would I get an A for that answer Mr. Conerly? Of course, you can't forget the Federal Reserve's idiotic policies!
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Feb 4, 2010