WHHHYYY!!!
Will someone stop these people?!?!?!
Amazing how a group of people with supposedly exceptional educational credentials can understand so little about money and the economy? Worse perhaps is witnessing the level of understanding on the part of the ‘gate-keepers’ of economic information, the major media outlets. I was watching Fox (snooze) News this afternoon and the reporter/analyst compared cutting the interest rate to balancing your checkbook! Huh?
I like the FED cutting interest rates because our government would collapse faster.
So what? The government will collapse, but the idea of government is still alive and well.
Amazing how a group of people with supposedly exceptional educational credentials can understand so little about money and the economy?
Are they really idiots who don’t understand what they are doing?
Or perhaps they do understand exactly what they are doing? They work for a private organization after all, and I suspect that their job is not to make USA prosper, but rather to fleece Americans and foreigners alike by producing as much fiat currency as possible without going so far as to trigger economic disaster or congressional intervention.
They seem to be under the rather peculiar impression that the problem is a lack of money… In addition to the Fed’s moves to make money more or less free, Bush is sending out 150 billion dollars worth of cheques to solve the problem. It’s amazing that no one thought of this solution before really - why don’t we send out cheques for 50 trillion dollars to everyone - then we’d all be rich, rich, rich!
They undestand what they are doing. Their objetive is to simply drag the recession to the next president.
It is highly unlikely that a catastrophe will usher in anarcho-capitalism. The only thing we will get is more government control. After this country becomes completely socialist, it will collapse and the new institution that arises will, again, not be anarcho-capitalism. I just don’t think this is a good strategy, and it’s also one that ruins my life and everyone elses life during the years of increasing and total government control.
From my humble undertanding of a recession, it’s not simply two consecutive quarters of negative economic growth, but more a way to purge the market of malinvestment. With so much money available, it is very likely that money will fall into the hands of the incapable. The only way to purge the market of bad investment (in the fiat system) is to allow the market to restrict money through recession.
So I would agree that they may be aiming to let POTUS slither out of office with the facade of a healthy economy.
Cutting interests by 0.5% is a very minor issue compared to corruption such as license restrictions, regulations, subsidies, trade barriers, public education malinvestments, continuing the Iraq war etc. that are legislated EVERY DAY.
Two words: Buy Gold
Yes, until the US government once again makes it illegal to hoard gold, just like Roosevelt The Dictator did in 1933…
Bad economic policy isn’t the same as bad fashion. The really bad fashion trends never come back, but really bad economic policy manages to keep in the mainstream. Look at the liesure suit. That is dead and gone. But look at the “stimulus package”, that just keeps coming back. The simple reason for this is that the economists in charge of the central banks suffer from the sin of hubris. They think they can understand how to set the price of money. The reality is that the economy is too complex for any one person or computer or person with computer or group of persons with groups of computers can set the price of anything much less money itself.
Good point. Let me rephrase: Buy gold, don’t tell anyone you have purchased gold, and then when Hillary passes an executive order to seize all gold and makes its use illegal, use your gold in the underground economy where there’s no sales tax.
With a premium because of inconvertability/illegality, would it really be worth the hassle?
Now if cash is outlawed, which is certainly a possibility, then all bets are off.
I used to fear the idea of confiscation, but I don’t think it will happen again. During the depression Americans didn’t question it at all - they were happy to “help America out”.
today I think an executive order like that would get laughed at. The gov’t is under so much scrutiny already… there’s 300 million guns in this country. I wouldn’t want to be the official knocking on a redneck’s door asking if he turned his gold in… (during an economic crisis)
Speaking of outlawing cash, rumor has it that the new federal drivers license contains an R.F.I.D. tag (chip) that is able to carry personal and financial information. Hmmm…so let’s think through this one, shall we? Great Britain uses implantable RFID chips with GPS capability to track and monitor it’s probated prisoners. Combine that with the possibility of banning cash and putting all financial data on a government ordered ID card and all I can say is “Houston, we have a problem.”
In the age of terrorism, it’s easy to see how our government can convince our fellow citizens that this type of society is absolutely necessary. So much for liberty.
That’s why they’ll take the guns before they take the gold.
i agree, outright confiscation would be seen as a sign of panic, and would light a fire under all hard assets, only accelerating cpi increase and the flight from cash. the present situation of treating gold as any other taxable investment is much smarter. besides, few of the population now own gold, unlike the thirties.