Saturday, April 09, 2011
An interesting clip of the always stimulated Marc Faber, who dishes on, among other things, the use of monetary policy to keep the average fellow down. A European's perspective, to be sure, but manifestly food for thought.
Brother, those newscasters doing the interviewing in that clip sure tow the (communist) party line.
The "male" was out there pushing the usual nonsense about QE2, and that woman was just spewing left-wing cant.
The solution is more socialism according to her. Did you hear that nonsense about public schools? I think his whole argument went right over her head. It does not occur to her that if you did not permit the government to manage the economy and to rob the productive that you would not have the sort of problems that he was describing. Her class envy is just palpable,
Goodness, did she cringe when he pointed out that the GOP is not "the party of the rich".
It's no wonder we are in the predicament we are now in.
Brilliant view even if not utterly convincing; it would have to be not so much a conspiracy as a consequence of political obsequiousness responding to a relatively parasitic citizenry, and he is unquestionably right about that although it was worse in the 70s. But the question is the COLAs for entitlements; still it does seem that inflation is quantified down relative to the past. And really things are cheaper than ever IF a buyer wants them to be, Walmart, Goodwill Shops, etc. The poor are six times more likely to be obese, so food could be cheaper for them. It also increases exports. I buy it, except it does not explain a struggling (presently) stock market since those are assets that should defy a devalued currency, too. But it would explain the gold phenomenon, which I also explain because of the global insecurity at present among the nations wealthy, especially in Arab/Muslim nations. How many yachts are now holding gold in their cabins; how many buried treasure troves are there?
Inflation does hurt the poor far more insidiously.
Wonderful man; seems like he's both streetwise and educated. So what does this mean?
This will end; jobs will not be created if conservative economists are right as it appears they are, at least in this situation. The main problem with Obama's Keynsianism is that it is so corrupt, i.e., far more largely than in the past a means to pay for votes, kickbacked contributions, and feet-on-the-streets, especially in the public secrot union ranks.