Paul in Texas

In Defense of TARP

"How about the fact that we stopped the second Great Depression. We prevented untold human suffering and a destabilization of governments in developing countries that could have lead to a vastly more dangerous world."

Have we really stopped the second Great Depression? I doubt it, but that doesn't matter because it's way to early to tell one way or the other.

Personally I think we will go through a small deflationary period followed by a tremendous inflationary period caused by all the spending and debt the country has done. I do not look forward to financial happy times any time soon.

We Need a 'New Paradigm of Economic Thought'

Even with a plan in place to handle toxic assets, the FED shouldn't let toxic assets happen in the first place.

Democrats Headed for a Train Wreck

On Aug 19 03:33 PM rosey99 wrote:

> Anyone who thinks we really have two distinct political parties is
> smoking crack. After all it was Clinton who continued the deregulation
> gravy train started under Reagan, and it was the "ultra-conservative"
> GW Bush that launched two wars, while cutting taxes three times,
> and threw in medicare part D just to make sure we were well and truly
> screwed. Unless you're a gun nut, or an abortion activist (of either
> stripe), or merely a simpleton, it's obvious that "conservative"
> and "liberal" have lost their meanings. The only word that describes
> both parties is "corrupt."

I think "conservative" and "liberal" still have meaning whereas "Republican" and "Democrat" have lost their distinction.

Democrats Headed for a Train Wreck

I agree with baldskits: "The things to change: Corporations are not persons because they cannot vote! Therefore, they cannot donate to politicians."

Although I would take it one step further: Only US citizens (individuals)should be allowed to donate to US politicians or US political organizations. That would eliminate all corporations, unions, and non-US citizens.

A Dire Warning for the U.S. Economy

Now is the time to start looking for who to vote for next year in preparation for voting out the current politicians at every level. Select someone who will support to the constitution and truly represent the people.

Putting Job Losses in Perspective

ed233, interesting comment. I read somewhere that public sector jobs went up by at least 600,000 over the last year. What would the employment numbers look like if we took out the public sector jobs? What is the private sector unemployment rate?

Health Care: A Basic Value of an Advanced Economy

In the Declaration of Independence, we declare "... certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness." You are willing to take away my unalienable rights for someone else's welfare. No! I will fight for my rights as did our ancestors. We need to resist every step we take toward socialism. Whether we can turn this country around or not remains to be seen, but I will not give up.

'Home Staging' Mania Could Signal Housing Bottom

'Home Staging' sounds more like desperation than a housing bottom to me.

Economic Decapitation via Cap and Trade

If you want real change, if you want to start fixing the problems, change the people in government. Actually look at the way your Congressmen have voted. If they voted contrary to your wishes/values, vote for someone else in the next election. I will do my part. I will vote against every politician I can who voted for the TARP and stimulus bills. I will try to find those with more understanding of the economy and who have a committment to the Constitution as written and as the Founding Fathers interpreted it and vote for them.

Starve the Economic Beast, Part 3

H T Love

You're certainly right about the last part:
"Of course, this is unlikely to ever be enacted because congress loses all its leverage over business, industry, etc. because favorable tax treatment would no longer be as easy to implement."

Starve the Economic Beast, Part 3

User396040 said: "I strongly agree that we should move to a Value Added Tax."

EMS News said: "Mr. Quinn, nearly all of our trade rivals have a VAT (value added tax) system. The US has a state and local sales tax system which is totally different. The US MUST imitate our trade rivals if we wish to survive."

I was reading an article by Murray N Rothbard that provides us with a major reason not to have a 'value added tax (VAT)'. We should stay away from a VAT because it doesn't reduce the size or intrusiveness of government; it just shifts the reporting burden from individuals to businesses while keeping a large government bureaucracy (IRS) in place.

A national sales tax would effectively eliminate the need for 90% of the IRS and would significantly reduce the intrusion into individuals and businesses lives. If a national sales tax was required to be added on each bill as state and local sales taxes are the consumer would be reminded of the cost of government every time he bought something. However a national sales tax would have to replace ALL Federal taxes.

Climate Change Showdown in D.C.: Energy ETFs in Focus

If the 2009 Clean Energy Bill makes it into law, our energy prices will skyrocket and the cost of everything will soar. We will have a MAJOR hit to our economy that I'm not sure we will ever be able to recover from unless cap and trade is repealed. I think cap and trade is one of the worst things anyone can do to our economy. Right up there with 'spreading the wealth'.

From Free Markets to Absolute Power: The Warped Views of 'Bank Speak'

Can anyone tell me how a site like GoldMoney.com can help or hinder this effort?

The American Economy Is Spent

On Jun 23 11:02 AM Ferdinand E. Banks wrote:

> If the American people don't elect people like George W. or Sarah
> Palin, the next few decades could turn out fine. The truth is that
> the great American voter is the main man in the international macroeconomy.
> I hope that my repeated skepticism about the two geniuses mentioned
> above does not engender any bad feeling. In a comment yesterday I
> was graded -33 - minus thirty-three - by my peers, but that number
> didn't worry me at all. The last two numbers in my army serial number
> were 33, and that number has always mean good things for yours truly.

I wish you had also included such notables as Jimmy Carter, Bush 1, Bill Clinton and B. Obama in your list, as all have promoted this financial disaster.

World Leaders Haven't Learned Protectionism Lesson

On Jun 23 10:10 AM EMS News wrote:

<Dear Mr. Hororwitz: did you ever bother looking at the immense US trade gap? We poured gallons and gallons of red ink into our economy via this method. I seriously doubt the sanity of anyone writing about trade, if they are an American, if they support 'free trade'.

Free trade has been a roaring DISASTER for the US. >

The only real problem I have with your argument is it's basis. The US has not had 'free trade' for decades.