Quote:
Originally Posted by ocnybuyer
As much as I can use every cent I'd like to mail it to Mr. Bush personally with a note attached.... STOP PRINTING MORE MONEY!!!!!   |
Ditto.
Most people, including the presidential candidates (but with the exception of Ron Paul), have no clue to what extent errant US monetary and credit policies are at the root of the economic problems plaguing the US.
To be sure, higher interest rates and tighter credit would, temporarily, lead to higher unemployment and more bankruptcies, but if we dedicate all the resources we are wasting as a result of our suicidal monetary and credit policies to DULY helping those affected through temporary subsidies AND RETRAINING, combined with incentives for basic manufacturing, we could retool our factories, create REAL jobs, and, in short, restore equilibrium to
domestic production and consumption, and so also restore the store of value function to our by now ridiculous currency which has reached a new all-time low against the euro.
But, no, not even our central bankers have a clue as to what the underlying problem is. Just yesterday, a voting member of the FOMC (can't remember his name right now), gave a speech about monetary policy and the economy, and do you what his premise is based on? That the cause of the current economic woes is the drop in real estate prices!
What a maroon!
We have so-called economic policymakers who have no clue of, or for some "strange" reason ignore, the cause-and-effect relationships among monetary policy, the balance between production and consumption, and REAL productivity.
Good luck going forward in the inflation-fueled casino game that our economy has become!
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