ironist15

Delusions of Debt

Bbzz24, I suggest you read Friedrich von Hayek, who proved convincingly that socialism cannot work, even in theory. The idea that the problem is that we have "dumb" politicians and that everything would be OK if we only had "smart" politicians is ridiculous. The problem is allowing politicians to continually expand their power over the economy. That is what the author is showing by graphing the value of the dollar since the Fed was created. What government does will always be done badly. Ron Paul is right: starve government, don't feed it.

Recession? I've Got a Solution

Thanks for your article, Saul. I agree with your thesis - substitution is the key to solving many of our energy problems. Unfortunately, the press has been totally irresponsible and alarmed the public about global warming and nuclear power, among other subjects. If we can overcome these prejudices, there are many applications for nuclear process heat in the production of liquid fuels. Such process heat can be used to extract and refine bitumen from oil sands and shales, to produce CLEAR product, etc. Of course, I also agree that plug-in vehicles make lots of sense, and they could be charged by nuclear-produced electricity. As vboring and DougM note, breeder reactors and fuel reprocessing could stretch our fissile fuel supplies indefinitely while reducing waste volumes. I am not a fan of Pigovian taxes to reduce demand since feeding the government monster always results in lower productivity and standards of living.