[arete]

FYI

Comments and opinions welcome.

Richard W.

[Norse]

Well he's right about the spending not bringing prosperity part - but he's completely ignorant about government debt. First, that is not the people's debt...(he assigns at least 2,000 to every person)...that is the amount of money the government OWES to the people. I like having the government in debt to us. Secondly, he complains about foreign investors buying our bonds. GOOD. THAT IS A GOOD THING. IF they buy bonds, they SHOULD get interest payments. I'm glad they are lending us money for our operations against terrorists and the like. I'd rather take on some debt and at the same time kill terrorists than let my family get blown up in the process.

[headsonpikes]

Mainstream economists are under the delusion that free trade has improved the world's financial markets, creating both greater transparency and enhanced liquidity.

And so it would have, had the money being 'invested' been sound. Instead, liberalization has compounded the folly of the Fed's 'policy', whatever it is. If that policy isn't 'We'll print any amount necessary', will someone please tell me what it is!

The implosion of a debt-based economy is not a pretty sight. Think Weimar circa 1923. :^0

[razorback-bert]

marking to read when I get home tomorrow