This is great — these guys need to be buried.
Support the Blog — Buy This Book!
For Kindle and with free ePub version. Only $9.49 Great reading.
Here is what Gary Shapiro CEO of the Consumer Electronics Association (CEA) said: Dvorak's writing sings with insight and clarity. Whether or not you agree with John's views, he will get you thinking and is never boring. These essays are worth the read!
Put this ad on your blog!
Syndicate
Subscribe to Main Blog feed here:
Subscribe to Comments too (below):
Junk Email Filter
While Mr. Bunning speaks Bernanke is thinking…
“I’m hungry. A steak sounds pretty good. Remember Sizzler? I use to think they had good steak, but that Morton place is pretty damn good.
………………..
Who is that person with the green folder? Nice suit.
……………….
Wow, this Bunning dude is still taking. Can he see the clock?
……………….
Generally I like what Bunning said but he sounded like he was on meds or drinking too much.
My fellow Americans, nothing has changed in our history just follow the money.
“You are a den of vipers.
I intend to rout you out and by the Eternal God I will rout you out.
If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.”
–Andrew Jackson, 1828
Here’s the dilemma. Take away the Fed’s independence and subject it more scrutiny and political management (e.g. interest rates and money supply). In other words, do an FDR like Bunning advocates. Hello inflation.
And then there are a few on the fringe like Ron Paul who want a return to the gold standard (of course he’d never get the votes) which would create a massive credit shortage. Even more fun.
An independent central bank like the Fed is not the problem, it’s just trying to stabilize the increasingly larger swings in “taxation policy as monetary policy” approach created in the Reagan years and embraced enthusiastically during the Clinton years. The US tax policy rewards spending at the expense of saving and investment.
The US needs to take some medicine and live within it’s means for quite a while. If that happens then the Fed will go back to being boring.
we need a HOLE 20 feet deep,,
we need to stand ALL of these folks up in FRONT OF THE HOLE..
WE NEED to shoot them all and Shove them in the HOLE and bring in a BACK HOE..to fill it 1/2 way..
THEn we need to dump 100 tons to LYE into the hole..
THEN we need to gather up the families..of the IDIOTS that started this mess.
and do the same..
UNTIL 1 of them can tell us WHY, we are doing it. WE keep the line going.
THEn we ask, how to FIX it..and continue..
UNTIL some RICH PERSON, THATS SMART enough to understand…GETS THE POINT.
#4,
true enough..
but OUR money doesnt STAY in the USA.
It gets invested around the world, and around and around it goes until the last person, buying a loan of a loan of a loan is getting PENNIES.
Think about this.
I make you a loan. at 10%.
I sell that loan to someone ELSE, and he gets 5% and I get 5%.
HE again sells the loan..he now gets 2.5%, and the other person gets 2.5% and Im getting 5%.
WE THEN invest the money from YOU, into a HIGH INTEREST ??? and along with the 5% Im getting that money is getting Stocks/credits/interest of ANOTHER 5-10% or even higher..
as an investment, I want YOU to pay for it..
IF you default..I loose the 5% and the interest into my OTHER investment..
Those on the bottom, the Last 40% of the USA.. are bombarded by CRAP. We get to see all kinds of goods, floating around and MUST decide the best of these goods. It has NO IMPACT on the corps, as they just bring in MORE CRAP that we need to decide AGAIN what to buy. DURABLE goods?? NOTHING lasts as long as the old stuff. MUCH is made to DIE within 1-2 years. Even clothing wears out in 6 months. LOOK at our market. What are the MAIN things our goods and clothing are being MADE. PLASTIC/NYLON/POLY… WE export MOST of our wool and cotton to other countries. Why are we wearing PLASTIC??
There are products that can be GROWN, that are better and more durable then PLASTIC. The problem with PLASTIC is that WEAR is also associated with sun light and COLD. it destroys it.
A few nations have taken it into their heads to make DURABLE goods for clothing, and they are illegal in the USA. HEMP is a wonderful product and would OPEN the nation to wonderful products as well and NEW products.
Even DVORAK noted a news story about SHEETROCK from china, was poisonous.
THINK of what it takes to make this product, and the COSTS of shipping it to the USA, to make a profit. WORKERS and TOP WAGE EARNERS.
They CUT the workers, and NOW the TOP wage earners are getting all the money.
Its THOSE ON TOP that are PRICING THE USA out of all the markets.. and it dont take ALLOT of those people ON TOP to do the job they are doing.
I think its time to THIN the herd. Take out the BIG BEEF CATTLE, and Start over from Scratch.
#4, a return to the gold standard which would create a massive credit shortage.
[…]
The US tax policy rewards spending at the expense of saving and investment.
A return to a commodity-based system would encourage savings. At least base it on SOMETHING.
Greenspan stated that he didn’t agree on a gold standard but then in the next sentence said he was trying to treat the dollar as if it were based on gold. WTF?
For all his double-talk, even he knew deep down a fiat currency didn’t work.
The problem is those in power like a single, homogeneous monetary system. If we had competing currencies (petro-dollars, corn-dollars, gold-dollars, etc), there wouldn’t be anyway they could guarantee a return. They would have to learn what risk taking was about and they don’t like that. They don’t like competition.
Sigh. Unfortunately, I feel he is going to get approved yet again. The Fed holds too much power and congress likes their bottomless piggy-bank.
I’m with #6 Just say when.
I live in an oil economy, it’s not all it’s cracked up to be. I think the US’s traditional strength (and still current strength) is innovation and development of new economies (manufacturing, information technology, biotech, green, you name it).
Domestic savings leads to investment in business and innovation. My advice is don’t do something that is out of character. Don’t become a resource economy because it’s relentless boom/bust cycle. Don’t be the world’s policemen. Don’t borrow money. Don’t borrow energy.
For example, lead the world in green technologies. Not because of some dip shit Al Gore slide deck, but because oil will become increasingly scarce and the US could supply the next wave of energy solutions to the world.
Be good at what you’re good at: self reliance and innovation. Do that and you’ll win. Not only win, you’ll kick ass.
Nahh you just watch…after these days of abuse, they will approve Mr. B for another term. This is just so all the Senators and other Congress Critters can say they got their say in.
He’ll still be with us. (not saying its good, not saying its bad. It just is)
this is all just fun and games to everyone in there… chuckling, laughing, its a good time. you can social engineer your way into and out of anything.
Yes, they are still blaming the recession on sub-prime mortgages and we are still believing it!!!
It’s the outsourcing you idiots!!!
I dislike RANDOM capitalised WORDS
We are going to go to hell in the proverbial hand basket unless we return our government to the people who fixed it for us last time. We can’t have these assholes spending a lot of money just to keep low life non-rich people healthy. The CEO and Insurance company execs need that money to restore their economy. Where the hell do these stupid democrats think they are going. The next thing you know the budget will not be in a deficit like that Clinton asshole had it.
# 8
Good advice. Thank you.