tag:blogger.com,1999:blog-11719208.post113857865647002630..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: A Very Mixed FarewellTimhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-11719208.post-1141113081690198962006-02-27T23:51:00.000-08:002006-02-27T23:51:00.000-08:00It hosts a numbers of home for sale by owner, Cana...It hosts a numbers of home for sale by owner, Canadian vacation rentals,<BR/>rent and agents listing Vancouver, BC Canada. www.realsale.caAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1139175420111472782006-02-05T13:37:00.000-08:002006-02-05T13:37:00.000-08:00i'd like to understand why gold is a straight jack...i'd like to understand why gold is a straight jacket on a growing economy. wouldn't the constant money supply simply revalue itself?<BR/><BR/>it's a false argument pushed on us by those who don't want the constraint of gold on their ambitions.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138735663424632512006-01-31T11:27:00.000-08:002006-01-31T11:27:00.000-08:00With a look on the bright side, permit me to parap...With a look on the bright side, permit me to paraphrase Marc Faber: the beauty of the bubble is that there exist undervalued assets elsewhere. We have been given the investment opportunity of a lifetime. Unfortunately, it will be at the expense of those who believe in the bubble.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138722401659366252006-01-31T07:46:00.000-08:002006-01-31T07:46:00.000-08:00Yes, metal based currency does produce a bottlenec...Yes, metal based currency does produce a bottleneck and straight jacket; but not to economic growth and prosperity, to govt's ability to wage war. Woodrow Wilson I broke out less than 9 months after the creation of the Financing Mechanism, even though tensions had been smoldering for years. World wide economic misery of the 1930's led to HItler, Holocost and Woodrow Wilson II. Yes I'd call that an Abject failure.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138689122504971322006-01-30T22:32:00.000-08:002006-01-30T22:32:00.000-08:00Obivously my above post is quite ambivalent. As ar...Obivously my above post is quite ambivalent. As are my leanings on the topic.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138688976714350962006-01-30T22:29:00.000-08:002006-01-30T22:29:00.000-08:00anonymous @ January 30, 2006 3:09 PM:"Total & abje...anonymous @ January 30, 2006 3:09 PM:<BR/><BR/>"Total & abject failure", judged from the 30's until today (admittedly not what you claim), strikes me as a gross overstatement. It's not the fiat currency as such, but its abuse to cover debt with more fiat money (and thus given the financial traction mechanisms, more debt). E.g. compare the core EU (before the Euro, and to some extent now) -- they have fiat currencies, but not even close to the inflation of the US -- in my judgement, that's more because their currencies can't (directly) buy oil, not because of any greater virtue on their part.<BR/><BR/>OTOH consider that <EM>real</EM> (as in fundamentally real, not in the inflation adjusted sense) economic growth after WW2 was at such rates that you could not have possibly "covered" it with precious metal. You simply cannot excavate that much precious metal, or even so you wouldn't want the people who own the ground that carries metal to dictate your economic growth patterns. It's not much different from having to spend your wages in the company store. Metal-based currency would have been a bottleneck and straitjacket to growth, and hard currency regimes would merely have led to different mis- or underallocations. (For the post-Y2K period I wouldn't be so sure anymore.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138662577908681372006-01-30T15:09:00.000-08:002006-01-30T15:09:00.000-08:00I'm with you f_i_f... an abolistionist. It took on...I'm with you f_i_f... an abolistionist. It took only 20 short years for the 1913 experiment in toilet paper, that promised to stabilize the currency, to prove to be a total and abject failure.<BR/>Why does it still exist?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138661371672674642006-01-30T14:49:00.000-08:002006-01-30T14:49:00.000-08:00Greenspan was a political hack. I'm not holding my...Greenspan was a political hack. I'm not holding my breath and hoping for any better from his sucessor ("Helicopter Ben"). <BR/><BR/>The Fed is running our currency into the ground. It is best we have this institution abolished. Why is Government meddling with money, anyway? Let the people decide what the medium of exchange shall be. Given the choice, people will gravitate to honest money - i.e. gold and silver. That's the way it was for over 5000 years, and that's the way it shall be. <BR/><BR/>What we're going through now is just another prolonged experiment with Government-issued, unbacked toilet-paper money. The experiment will end when the next serious crisis hits, and the entire financial system implodes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138656819571079752006-01-30T13:33:00.000-08:002006-01-30T13:33:00.000-08:00Exactly...We've transformed from an age when the c...Exactly...<BR/>We've transformed from an age when the country was founded where money was real, to an age where money is unreal. From an age where great presidents like Andrew Jackson actually revoked the charter of the Federal Reserve(2nd Nat Bank in 1836) and returned us to a real money system. Didn't have any decade long depressions back in the 19th century.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138656434328748522006-01-30T13:27:00.000-08:002006-01-30T13:27:00.000-08:00As one senior Fed official puts it: “What were we ...<I>As one senior Fed official puts it: “What were we supposed to do? Just sit back and leave rates alone and let the economy go into a deep hole?”</I><BR/><BR/>That's reassuring.L'Emmerdeurhttps://www.blogger.com/profile/03004040303058104490noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138652639001215492006-01-30T12:23:00.000-08:002006-01-30T12:23:00.000-08:00Because coins are symbols. Why is a check for $100...Because coins are symbols. Why is a check for $100 worth more than a penny, when it's written on paper that costs less than 5g of copper and zinc?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138651699215049122006-01-30T12:08:00.000-08:002006-01-30T12:08:00.000-08:00not sure but I think 10 cents would be UP from her...not sure but I think 10 cents would be UP from here...<BR/><BR/>... and speaking of nickles and dimes and other mass delusions that Fed miesters love to foist upon us;<BR/>nickle - 75% copper 25%zinc 5 g<BR/>Dime - 75% copper 25%zinc 2.25 g<BR/><BR/>why do we pretend that a dime is worth twice as much as a nickle...<BR/>Matrix perhaps?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138649298709229652006-01-30T11:28:00.000-08:002006-01-30T11:28:00.000-08:00You may be interested in knowing that Santa Barbar...You may be interested in knowing that Santa Barbara realtors have STOPPED GIVING OUT SALES STATISTICS. IF you can't sell a house in Santa Barbara you cannot sell a house anywhere. I see a depression coming, unless Bernanke takes the dollar down to about 10 cents.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138649160328186502006-01-30T11:26:00.000-08:002006-01-30T11:26:00.000-08:00I think we should set a term limit for fed chairme...I think we should set a term limit for fed chairmen. Volcker did a better job and was there for 8 years, but if he had stayed for 18 1/2 we might think less of him today. We should have a 10 year limit for Fed chariman, because the 18 1/2 years that GSpan has been with us is too long. His policies will affect the US economy for at least the next 50 years (probably my entire lifetime) because we have such imbalances anything less than a great depression combined with a major war or massive productivity spurt will not clean them up. <BR/><BR/>He should have left in 2000 and let someone else clean up the stock bubble. If he had, we might not be dealing with the housing bubble at this point. <BR/><BR/>We need fresh thinking in the Fed chair position; term limits is a good start.Wes Dhttps://www.blogger.com/profile/03801362902621931257noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138640346037893832006-01-30T08:59:00.000-08:002006-01-30T08:59:00.000-08:00I see that Easy Al turned 18 in Mar1944... well th...I see that Easy Al turned 18 in Mar<BR/>1944... well thank God he didn't end up on Omaha or Normandy Beach.<BR/>Where would we be today if he hadn't been around to double the Payroll Tax and steal (I mean borrow, of course) $2 Tril from the working class (who did end up on Omaha) in the mid 80's.<BR/>Does this mean he's not part of "The Greatest Generation"?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138640310447449332006-01-30T08:58:00.000-08:002006-01-30T08:58:00.000-08:00Roach has it pegged. It's just too soon to tell. ...Roach has it pegged. It's just too soon to tell. People were saying nice things about the captain of the Titanic right up until near the end of the voyage when the iceberg popped up. Until then, it was all, "Have you ever seen a ship this big move this fast? It's amazing what we can do with ships these days...."Worker 17https://www.blogger.com/profile/11311854874493560068noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-1138636068316503172006-01-30T07:47:00.000-08:002006-01-30T07:47:00.000-08:00thanks alot a-hole. under your watch every investm...thanks alot a-hole. under your watch every investment i have made turned to crap. now upon your departure you have devalued my cash to keep me in the welfare state.Anonymousnoreply@blogger.com