[jpl]

Ludwig von Mises could have told anyone this a long time ago, but none of the geniuses who learn economics at Harvard and Yale nowadays want to listen to anything he said.

[lefty-lie-spy]

Didn’t he star in “The Pick Of Destiny” (one of my favorite rock n roll movies after “This Is Spinal Tap” and “The Wall”) with Jack Black?

[AnAmericanAbroad]

Wanna read a jaw-dropping stat that make you poop twinkies?

Uganda’s debt to GDP ration is 30.3%. In fairness, it has grown by 10% since 2007, but I’ve read the government is taking measures to bring it under control. I selected Uganda because one of my current students is from Kampala; I’m helping her in brushing up her English (she’s an online student, btw), and she’s an economist by training.

What’s ours these days? 100%, if I’m not mistaken?

Yeah, that’s right folks. Economically speaking, Uganda....yes, that Uganda, the land of Idi Amin Dada, is actually on sounder financial footing then the USA (and a good many parts of the EU as well).

I forgot who it was who said it, but wasn’t there a former US Representative that used to say, “Beam me up!” ?

Yeah. Beam me up. Please.

[AnAmericanAbroad]

And here’s the link to the stats I cited:

http://www.gfmag.com/gdp-data-country-reports/155-uganda-gdp-country-report.html#axzz1fIp5Oezy

[semantic]

If you believe what you just wrote with regard to Ivy alums not understanding, then I would suggest you dig a little deeper.

Where Bass, Denninger, Mish and a host of others get it wrong is not correctly identifying the sequential doubling periods (ie the last one is @ 11:59, not 6:00). Sure, they go on about exponents & math, but they never seem to realize that if the end-game is obvious once a credit cycle has started, why isn't the end-game obvious when it started?

I believe the end-game is very well known from the very beginning. It's not difficult to understand the progression, therefore the outcome is easily modeled from the git-go.

So then the question becomes: why? In, why was a debt-money system that was designed to fail adopted by the USA? That's a question no one seems to want to explore.

[Travis McGee]

"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved."

Ludwig Von Mises