I know I had some tinder around here somewhere.......hmmmmmmm......OH! Here it is!
Posted on 01/02/2011 9:24:54 PM PST by sickoflibs
If you realize both parties in Washington think that our money is theirs and you trust them to do the wrong thing, this list is for you.
If you think there is a Santa Claus who is going to get elected in Washington and cut your taxes, spend a few trillion and that will jump-start the economy, this list is not for you.
You can read past posts by clicking on : schifflist , I try to tag all relevant threads with the keyword : schifflist.
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The Austrian School’s Commandments plus :From : link
1) You cannot spend your way out of a recession
2) You cannot regulate the economy into oblivion and expect it to function
3) You cannot tax people and businesses to the point of near slavery and expect them to keep producing
4) You cannot create an abundance of money out of thin air without making all that paper worthless
5) The government cannot make up for rising unemployment by just hiring all the out of work people to be bureaucrats or send them unemployment checks forever
6) You cannot live beyond your means indefinitely
7) The economy must actually produce something others are willing to buy
8) Every government bureaucrat should keep the following motto in mind when attempting to influence the economy: “First, do no harm!”
9) Central bank-supported fractional reserve banking is an economically distorting, ethically questionable activity. In particular, no government should ever do anything to save any bank from the full consequences of a bank run, no matter what the short-term consequences.
10) Gold is God’s money.
Add mine:
1) Businesses don't hire workers just because of demand for products or services, they hire because it makes them money. Sorry to have to state the obvious.
2) Government spending without taxing is still redistribution
3) Taking one man's money and giving it to another is not a job.
4) Paul Krugman and Bernake have been wrong about everything, as well as the other best and brightest Keynesian's who have been fixing our economy for over a decade.
5) Republicans in the minority (esp out of the White House) act like Republicans, in the majority they act like Democrats .
"So Edwards' answer to the question that obsesses investors at the moment – are we past the worst? – is a resounding "no". Or, as his final research piece of 2010 put it: "I've been doing this job long enough to recognise when the markets are entering a new phase of madness that leaves me scratching my head with bemusement."
Thanks.
I hope this bang-on article receives widespread readership.
BUMP!
Stupid thread title. Housing prices and salaries aren’t going up, so “inflation” is a non-starter.
Creating money is counter-productive, by the way, if that money-creation slows the velocity of your currency via debt over-accumulation or a negative money-multiplier factor.
For the U.S. today, credit is the majority of the economy. In fact, there are only a mere $900 Billion in our entire $14 Trillion GDP in cash money.
The above factors mean that you can run the printing presses as fast as the Japanese have run them each year for the past 22 years and wind up with Japanese-style DEflation...falling home prices and falling payrolls.
Deflation is the opposite of inflation.
Deflation is a slower speed of money.
So ask yourself if salaries and home prices are going up?!
The Libs are panicing about raising the debt limit. It must be the best thing not to raise it.
please ADD me to your ping list..
Thanks
I know I had some tinder around here somewhere.......hmmmmmmm......OH! Here it is!
don't think this progression can go past QE 9....
The popular theory is that devaluing the dollar boosts exports and discourages imports. This now the Democrat's economic theory and under Bush WAS the Republicans. My guess is you would really have to devalue the dollar alot to compete with China and other Asian countries with labor/regulation costs. And raising prices can kill the economy/recovery itself.
The debt ceiling doesn’t matter...Until it’s too late.
It may be more appropriately labeled as QE2.1, QE2.2, QE2.3....since the Fed and media will spin it as a continuation of the current QE2 rather than as a separate effort ala QE3, QE4, etc.
Southhack makes an obvious point: where’s the inflation?
Fill up your tank with gas, buy some groceries and compare those prices (compared to two years ago) with the big raise you got this year, assuming you still have a job.
No-one claimed it would re-inflate the housing bubble, in fact the opposite was predicted.
The “opposite” was predicted?! Really?!
That’s like saying that global warming makes it colder.
Either salaries and housing prices go up (inflation), or else they go down (deflation).
$0.10 difference in gas or milk ain’t gonna touch losing a paycheck or being underwater on a mcmansion...
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