Posted on 12/01/2001 9:02:46 PM PST by floridarocks
Can someone please explain why we should not abolish the Federal Reserve or explain why lawyers won't discuss the bankruptcy of the corporate US in 1933 the keeps us perpetually indebted to the international bankers. How rich are those Rothschilds anyway? Is there such a thing as kazillion?
AS evidenced by what? They try to balance growth and inflation. I do not know what is the proper static balance between the two. Do you?
Tell us and then we'll go to the dynamic economy that Fed faces and you will tell us what over- or undershooting means in that context.
Well, alright. But it was still typical
loudmouthed American braggadocio.
See below.
For example, the
United States has the second highest per capita income, with
$29,600, and it ranks 20th in terms of poverty. Luxembourg
has the highest income per capita in the world, with $33,500
The bubbles do not have perpetrators/promoters: it's a mass phenomenon. In retrospect, just with an ocean wave, one can identify that portion of population which rode the crest. This is different from being a perpetrator or a promoter.
Who were the perpetrators of the last irrational exuberance of the 1990s? And what on earth did the Fed have to do with it? Of the money system in general? Absolutely nothing.
You are right on the money (pun intended) with your observation that the authors of that dreadful book, although not Marxists themselves, use the essentially Marxist tactics: they are demagogues. They demonize a part of the population and entice the ignorant populus to rise aganst that demon.
In another note I had called this stuff "what happens when ignorance goes bad." That's exactly what this stuff is. Ignorance gone bad. This reminded me Dostoyevsky's words: "Arrogance of ignorance."
Yes: you just said the economies are growing in real terms.
This is not limited to money and banking --- these armchair generals now extend their valuable judgment to international trade. Like you, I had a discussion with someone whose "paradigm" for explaining the emergency of "global economy" rested on our abandonment of the gold standard. It appears to be a favorite for these conspiracy theorist.
This is what they indeed appears to be --- conspiracy theorist. Everything is easy to explain: a few people take over the government, abandon the gold standards, then sign NAFTA --- and we are dead. World government. Orville’s “1984”. The Jews.
To my opponent I tried to mention politely that one cannot explain by looking at money alone even a closed economy, let alone the export of capital. In a subsequent post, I suggested very politely that he take a course on economics. That's where all hell broke loose.
Having observed others "discussing" matters in the same pattern, I concluded that we are dealing hear not with people who desire to learn but "armchair generals." They do not want to rise through the rank of knowledge and disciplined thinking; it's much more appealing to pass the judgment on the world immediately.
But I have digressed. I mostly wanted to thank you for taking time to respond to the issues in such thorough and measured way and letting us partake of your expertise.
The people who buy U.S. Treasury Bills.
Goodwill, if you knew anything about accounting.
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