Thanks for the link. I listened to the full hour.....I think I will temper my criticism of him in the future. But not my criticism of the system that puts such power in the hands of one man. Human beings are just not smart enough, and if you ever find one that is, he will be succeeded by one that isn't. Stosh
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'Atlas Shrugged': From Fiction to Fact in 52 Years
- Thread starter Midas
- Start date
Thanks for the link. I listened to the full hour.....I think I will temper my criticism of him in the future. But not my criticism of the system that puts such power in the hands of one man. Human beings are just not smart enough, and if you ever find one that is, he will be succeeded by one that isn't. Stosh
Quote from clacy:
He has an 80% lifetime rating from the Council for Citizens Against Goverment Waste, which compares very favorably to the vast majority of Congressmen.
Your average Democrat has around a 20% rating.
http://chip91.wordpress.com/2007/08/19/ron-pauls-personal-pork-projects/
Quote from Stosh:
Exactly. That is why we need to give up thinking that brilliant human beings are capable of manipulating the money supply so that we avoid the ups and downs of the business cycle which are inherent to free markets.......just let the money supply expand a consistent % each year based on GDP, pop. growth, whatever so that businesses can plan for it. The Fed does not have a good record......nor does central planning in general. Stosh
You and I are on the same page.
regards
f9
Greenspan, I believe, understood better than anyone the consequences of his actions as Chairman of the Federal Reserve. The question that should be asked is, why did he allow multiple bubbles to be created through his cheap money policies?
He wrote this "The excess credit which the Fed pumped into the economy spilled over into the stock market- triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence. As a result, the American economy collapsed."
If only he were chairman for a few more years he would have been solely responsible for sinking the Titanic, again.
He wrote this "The excess credit which the Fed pumped into the economy spilled over into the stock market- triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence. As a result, the American economy collapsed."
If only he were chairman for a few more years he would have been solely responsible for sinking the Titanic, again.
Quote from Frostie:
Greenspan, I believe, understood better than anyone the consequences of his actions as Chairman of the Federal Reserve. The question that should be asked is, why did he allow multiple bubbles to be created through his cheap money policies?
.............................. As a result, the American economy collapsed."
If only he were chairman for a few more years he would have been solely responsible for sinking the Titanic, again.
The big O is currently building a dream team of egos (conflicting) to manage the economy out of it's unmanageable mess.
Correct me please, but I did not hear any of them squealing during the last two/three years the the economy was turning into duck soup, and so how are they going to fix problem(s) that they failed to identify in the first place.
What they will do is build mini empires at the expense of others.
Some poor souls thought 2008 was a rough year, well hang on to your hats chicos because '09 will be off the charts.
regards
f9
Quote from fearless9:
The big O is currently building a dream team of egos (conflicting) to manage the economy out of it's unmanageable mess.
Correct me please, but I did not hear any of them squealing during the last two/three years the the economy was turning into duck soup, and so how are they going to fix problem(s) that they failed to identify in the first place.
What they will do is build mini empires at the expense of others.
Some poor souls thought 2008 was a rough year, well hang on to your hats chicos because '09 will be off the charts.
regards
f9
Ron Paul has been squealing about the problems since the early 80's. Cut government spending, go back to the gold standard and follow the constitution.
Quote from Frostie:
Ron Paul has been squealing about the problems since the early 80's. Cut government spending, go back to the gold standard and follow the constitution.
Correcto and you don't see Ron in the big O lineup.
It is funny how a sense of decency and a drop or two of common sense are suddenly out of flavour at a time when they are most needed.
regards
f9