"This Economy"

[Flyer_PE]

However, and I'm just throwing this out there, as a result of government spending, a lot of things got accomplished that probably never would have without federal help, notably roads, dams, and electrification.

I think they likely would have because the demand would still have been there. My opinion as far as electrification goes is to look no further than TVA. Last I checked, they aren't exactly the model of how to run a utility. However, it's impossible to prove a negative so we'll never be able to know what would have happened had Hoover and FDR not done what they did.

 

[Chucktown PE]

I was watching this bullshit documentary last night on FDR and one of the ass clown presidential historians claimed that FDR was the best president in history. I guess if your qualifications for the best president in history are someone that was willing to take a giant shit on the Constitution, beginning a ruinous system of entitlements, and ignoring Hitler's rise in Nazi Germany, sure he was great.

And whatever the New Deal accomplished, if that stuff had been needed (which it obviously wasn't) the free market economy could have provided it far cheaper, better, and more efficient.

The failure of Keynesian economics is a fact, and it concerns me greatly that Obama thinks that Keynesian economics are going to work "this time" when that system has never worked before. Read Milton Friedman's Monetary History of the United States. FDR didn't bring about the recovery from the Great Depression, he made it much worse, and much more drawn out.

And by the way, our current health care problems and f-ed up third party system is all attributable to FDR.

 

[Capt Worley PE]

FDR definitely didn't do the economy a lot of good...

 

[tymr]

the dow wont budge upward until until Obama shows his hands (with whatever he plans to do) since he hasnt said anything specific about his economic plan, other than change, yes we can, yadayadayada.. Odd that were this far into his election and no one really knows what he plans to do, other than bailouts and the public works stimulous.

It's above his pay grade and there can only be one President at a time. I think Obama Kool-aid must taste a lot like Russian Vodka. Both dull the senses and make you feel all warm inside.

 

[dcny]

It's great to see many free market folks on this board.

The economists of the Austrian School have been predicting our current economic situation for quite some time.

Check it out.

The Bailout Reader

 

[wilheldp_PE]

It's great to see many free market folks on this board.
The economists of the Austrian School have been predicting our current economic situation for quite some time.

Check it out.

The Bailout Reader

Are you the same guy that quoted from Lew Rockwell's blog earlier? I'm probably more free market than most around here. I'm somewhere between Libertarian and Anarcho-capitalist...but I would have voted for Ron Paul had he made it past the primaries.

 

[dcny]

Are you the same guy that quoted from Lew Rockwell's blog earlier? I'm probably more free market than most around here. I'm somewhere between Libertarian and Anarcho-capitalist...but I would have voted for Ron Paul had he made it past the primaries.

I did start a thread on here, about Obama's new economic plan, that was from Lew Rockwell's Blog.

Ron Paul got my vote in the primaries.

Dr. Paul sure is getting a lot of face time on the news now that the things he was talking about in the debates are happening.

 

[udpolo15]

It's great to see many free market folks on this board.
The economists of the Austrian School have been predicting our current economic situation for quite some time.

Check it out.

The Bailout Reader

There are enough people that are making predictions that you're always going to find someone who made the right prediction. Go back to the dot.com bubble and there were people who made that prediction, but didn't not call the housing bubble. That being said, I do agree with a lot of stuff on that blog.

 

[Chucktown PE]

Count me in as a classical liberal and a big fan of Austrian economics. Hayek, Mises, and Friedman are some of my favorites. I'm a member of Fee.org as well. It's a great organization and their publication, The Freeman, is first rate. You won't find anything as well written or thought provoking in the mainstream media or from the talking Republican heads. This may belong in my Atlas Shrugged thread. And to udpolo's comment, any time the government meddles with the economy and manipulates markets we can expect these results.

 

[Road Guy]

just another dumb question, but when we do an $800 Billion "package" where exactly does the money come from? Do we just print it or does the US Governemnt call lendingtree.com and let lenders compete for the loan ??????

 

[wilheldp_PE]

just another dumb question, but when we do an $800 Billion "package" where exactly does the money come from? Do we just print it or does the US Governemnt call lendingtree.com and let lenders compete for the loan ??????

They fire up the virtual printing presses. All of these transactions occur as balance sheet smoke and mirrors...I'm pretty sure that no paper currency changes hands.

Whether it's real Federal Reserve Notes or imaginary money, the result is the same...the dollars that are in your wallet and bank account are now worth less than they were before.

 

[Chucktown PE]

just another dumb question, but when we do an $800 Billion "package" where exactly does the money come from? Do we just print it or does the US Governemnt call lendingtree.com and let lenders compete for the loan ??????

I'm pretty sure they are just using the ole Amex. Or the federal government's version of Amex. Just force banks to buy the T-bills and then make minimum payments for the next 30 years.

 

[ARLORD]

just another dumb question, but when we do an $800 Billion "package" where exactly does the money come from? Do we just print it or does the US Governemnt call lendingtree.com and let lenders compete for the loan ??????

They borrow from China, Saudi Arabia, etc or as a last resort they just print it, worthless paper.

 

[dcny]

They fire up the virtual printing presses. All of these transactions occur as balance sheet smoke and mirrors...I'm pretty sure that no paper currency changes hands.
Whether it's real Federal Reserve Notes or imaginary money, the result is the same...the dollars that are in your wallet and bank account are now worth less than they were before.

I'd say Federal Reserve notes are imaginary money.

Throughout history the free market has chosen gold and silver as money. They are relatively scarce, durable as well as portable. They had value due to their use in making jewelry.

Printed pieces of paper are not scarce, not durable, they have no real value.

 

[dcny]

Is anyone here familiar with Shadowstats.com?

The guy that owns the site claims to be calculating the unemployment rate (among other stats) the way it used to be calculated.

The image above is showing unemployment approaching 18%.

I think it topped out at 25% during the Great Depression.

 

[wilheldp_PE]

I'd say Federal Reserve notes are imaginary money.
Throughout history the free market has chosen gold and silver as money. They are relatively scarce, durable as well as portable. They had value due to their use in making jewelry.

Printed pieces of paper are not scarce, not durable, they have no real value.

It's value is imaginary, but you can physically hold it.

I have 130+ ounces of silver in my safe, including 2 Liberty Dollars from before they got raided for "counterfeiting".

 

[Capt Worley PE]

The guy that owns the site claims to be calculating the unemployment rate (among other stats) the way it used to be calculated.

I can claim that, too. Doesn't mean it is so.

 

[dcny]

I can claim that, too. Doesn't mean it is so.

Uh....yeah...that's why I qualified it as such.

 

[McEngr]

They borrow from China, Saudi Arabia, etc or as a last resort they just print it, worthless paper.

In other words: Let's stimulate the economy so that we can say what sectors survive/thrive. Pumping money into parts of our economy in order to stimulate it will only draw inflation except for the markets that they pump the money into. It's basically economic socialism...

 

[NCcarguy]

I did start a thread on here, about Obama's new economic plan, that was from Lew Rockwell's Blog.
Ron Paul got my vote in the primaries.

Dr. Paul sure is getting a lot of face time on the news now that the things he was talking about in the debates are happening.

Come on....Ron Paul???? THE SAME Ron Paul that all the 9/11 was an inside job people were standing with, and he wouldn't deny it????