Libertarian ping! Click here to get added or here to be removed or post a message here!
Posted on 10/04/2008 6:04:13 PM PDT by CK Young
In regard to 1)...would you favor the U.S. Treasury printing/issuing/controlling the currency instead of the federal reserve?
Good pics. Four of the FBI’s 10 Most Wanted?
Domestic Enemies BUMP!
The Burning Down the House video is just one part of the story. NPR.. odd as that sounds did a good piece on the the other part of the story. It didn't cover they why in the way of Washington Democrats and the failure of regulation of Fanny Mae..but.. well you know they wouldn't.. but they get alot of detail about the how the whole thing came unglued under massive pressure, greed and a boom town mentality that took hold.
The Giant Pool of Money - This American Life - 05.09.2008
Click the "Full Episode" Link below the crumpled dollar bill.
ROOT CAUSES OF THE ECONOMIC MELTDOWN:
our feckless, despicable, greedy congress, Obama, Raines, Johnson, Carter, and Clinton
The Libertarian ping list may want to comment.
Don’t blame me - I voted for Ron Paul in the primaries. He had a foreign policy blind spot, but try fighting glboal wars without any money.
No, that’s Congress’s job.
Careful now. Don’t want to say something that makes too much sense.
It ain’t just America. Hell Europe and Asia are sure as shootin involved. Merkel just this last week mocked Ireland for backing its banks, the next day she HAD to do the same thing for German banks. The Policy of, “hey its YOUR problem” days are over.
ping
Don’t waste your breath pointing that out... too many here think he’s a nutcase when, time and again, he’s been RIGHT on the issues. But he goes against the grain on their pet issue so he’s reviled as a nutjob and anyone who mentions him is also castigated.
14) INCREASE IN THE PRICE OF OIL. (A barrel of oil = 42 gallons.)
When the price of oil goes up, gasoline follows, as well as plastics, and the transportation of goods, etc. People will have less money to spend on everything else. This tends to ‘starve’ other areas of the economy.
The cost of oil increases for two principle reasons, and one minor; the latter is more of a temporary phenomenon.
The entire world is essentially a giant auction house. People compete for the things that they want by essentially bidding for them against other would-be owners. This is true even in stores with ‘fixed’ prices. If the items don’t sell well, they go on ‘sale’ to get bidders (buyers). This is especially true of unessential items, the value of which can go down as people shift to purchasing more necessary items. As a result, ‘want’ items, in contrast to ‘need’ items must be reduced in price in order to acquire buyers and move them from inventory.
a) The excessive printing of Federal Reserve Notes, ‘dollars,’ causes inflation which drives up the price of most things through the ‘auction house.’ This is simply the result of more money being in circulation.
b) The increased efficiency of production results in a higher standard of living. This generates wealth and as a result, more people in the world have more money to bid for oil (and everything else): items made from oil like plastics, items that have high energy needs in manufacture, like aluminum, and of course the shipping of everything goes up.
c) Speculative bidding wars occur where users compete with speculators for oil an essential resource, in the ‘auction house.’ This can cause the price of oil, and other commodities, to spiral higher. When bidding wars occur, prices will often exceed the natural balance point and go far higher. This momentum also tends to occur in a down market, i.e., declining prices develop an inertia and pass below the natural balance point, before returning to an equilibrium based on supply costs and demand.
High unemployment is not the cause of the economic meltdown, but a symptom of it. As fewer people are employed, and as others have less money to spend, the price of oil, gasoline, and other commodities will tend to decline (not necessarily gold and silver). It is always difficult to predict how much the decline will be, because, in a recession or depression, governments with paper money will substantially increase the artificial money supply. In America in the latter part of 2008, the rate of introducing new ‘money’ has been more than 20%. Normally, absent a declining economy, this enormous influx of legalized counterfeit money would cause the price of everything to increase by 20% in approximately 18 months. This is the usual time it takes for new ‘money’ to thoroughly permeate the U.S. economy. In the immediate future prices typically go down in a stagnating economy; in the longer term however, as the economy regains its footing, prices tend to skyrocket. CK Young
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