The Bernanke Plan: Sacrifice Savers to Recapitalize Banks and Benefit Debtors [View article]
I cannot point to a single instance of the US government rewarding (or patting on the head) savers in the past 50 years. They HATE savers with a passion that makes Muslims and Jews look like college lovers or something.
My point is that you're screwed if you're saving US dollars. Luckily, you can still convert to things Uncle Ben can't destroy.
Washington Gridlock and the Possibility of a New Debt Crisis [View article]
So what I've been saying for 20 years is finally being said in the national dialogue? People still look at me like this banana leaf hat is made of tinfoil.
Why is the US still collecting tax money from citizens? If they care not to balance the budget, just continue to borrow without making everyone else poor. Paying your taxes is like loaning cash to a dying business run by a meth-head with holes in his pockets and tickets to Las Vegas on his desk to visit his 20 alcoholic brothers. I had to really fight for that analogy, but I think I nailed it.
Krugman is just trying to keep the masses calm before their slaughter.
"We Americans also must be honest with ourselves and recognize that we have been living beyond our means and that our lifestyle has been largely financed by austerity in China. "
Peter, what do you mean "we"? I've seen my savings stolen at every turn by higher taxes and inflation. It's taxed when I earn it, when I buy something, thru property taxes, when I pay bills or stay in a hotel, when I invest, and when I look at it and pat it on the head...taxed by the "Hotel and Head Pat Tax"! What isn't spent gets inflated away so an imbecile politician can enact his grand vision of utopia...which fails so he asks for more money.
I reject this whole "WE Americans" bit. Hold the people accountable who are guilty, not me. Start with every Democrat and Republican (start your thumbs down now party hacks) because those two parties have done everything they could to make this mess. If I'm mistaken about some administration, by all means enlighten me. VIVA LA REVOLUTION!
"...would help make U.S. goods more competitive, it would also lead to skyrocketing consumer prices, rapidly rising interest rates, and a collapse in American living standards. Make no mistake: this is the end game of Krugman's "get tough on China" policy."
It is THE end game (period). China is a minor player in the big ending. The perfect fiscal storm awaits and most every American boat is going down to lower living standards. Wait for the boogey-man to be defined by career politicians (remember loose Hollywood morals?). They'll roll out several to see what resonates with Joe Publicidiot. Then we'll saber-rattle (Republicans) while taxing the bee-jezes out of some poor sap (Democrats) who doesn't belong to a large enough voting block.
"This apocalyptic scenario can only be avoided if Washington jealously guards the status quo, avoiding confrontation with China at all costs."
You have as much chance as the meth-head in the alley behind the MGM who needs to avoid meth at all costs. Congress (Dems and Republicans) cannot remove themselves from the nipple that is deficit spending and their creditor is now giving them the stink eye. They are addicts. It is precious to them. They will continue to win as long as Americans exchange the current kleptocracy for the one they threw out of office a couple years earlier.
I never understood this line of thinking, but that's because I have a problem with authority. Besides, Peter did look into Krugman's premise carefully, and he disagrees with it. Surely you don't suggest Krugman is beyond any critique?
Ideas exist on their own. Massive support of 2+2=5 doesn't make it so. There's a proof against this. Maintaining 5 as the correct answer should discredit you.
You should be able to use a scientific method to determine the validity of an idea.
If you cannot do this, then sure look for a title and keep your head down.
The fact that people are deferring to Krugman because he has a prize does not bode well. But please, come down to my auto garage where my certified mechanic will tell you about the $6000 new engine you need (and you will obey him).
Prepare for more decades of obfuscation. Collectivist health care will cost more, provide less, innovate less, and deny more claims (thus killing more people) than a free market alternative. However; politicos are great at obfuscation so with each failure, they'll promise that they really have a better plan now and just need to get re-elected...and more money. After all, capitalism caused the housing bubble.
Health care is one of the largest ($$$$) industries and the Big Government Party (Dems/Repubs) wants a piece of the racket...a slice of the pie...a little off the top. OK, they want the whole pie.
It should be noted that there is massive wealth created when a massive state takes over a massive industry. In this case, insurance companies are licking their chops and shopping for yachts. Hospital owners are doing the same. Health care workers? Not so much. Patients? Visit the IRS, DMV or Postal Office for a preview of your health care.
I like Peter a lot. But at best he can serve as a voice of reason in Congress as there is no stopping this train. No change is possible. Maybe he can educate against the "Bezzle" (in this case the lie that we'll save trillions by spending trillions). The Bezzle is strong and the American mind is weak. No wonder they stopped teaching math in American schools. Well played, Big Government.
I remember when Ford was oversold, so I loaded up and waited for Ford to go print off more cars and trucks. Wait...most companies don't work like that. So maybe I shouldn't be thinking only about a currency being "oversold". Yes, I believe I will continue shorting the dollar.
Before you claim the plan to be doomed, shouldn't we know the real goal of the plan. I am suspicious that it is NOT to stimulate the economy. In this much, it will be a success. The end result will be a weakened dollar (great for a nation with massive debt valued in dollars) and much, much, much larger government payrolls and regulation authority. In this much, it will be a success.
I support none of this, but let's be clear about what the real goal is here.
"The legendary 'free-market system' in healthcare has failed American citizens..."
Completely incorrect. The nearest thing I can find to a "free-market system in healthcare" is Lazik eye surgery and boob implants. Both have reduced real costs and improved service over the last 15 years. And, one helps me greatly appreciate the other.
Mr. Clark, you look at highly-regulated, protected, and statist and see "free-market". You shouldn't do this. It is intellectually dishonest and I know from your other posts that you are capable of much better.
"We protect the wealth of the rich like terriers in America." Correct, and we shouldn't do this either. But it doesn't make your other point any better. You know...the "two wrongs" thing.
Rallies without underlying increases in value are wealth transfer machines. Every month, billions are earned and looking for a parking place. The fact that they are being pumped into the market doesn't mean value has been created. Those billions just serve to assist smart money in getting to an exit.
Getting 25% return in a month still doesn't mean you ain't a sucka. I got a blind squirrel with a nut that wants to talk to you.
I have no idea what will happen the next 12 months, but guessing is gambling not investing. Maybe the bull comments think we should print another $5 trillion in cash and go another $20 trillion in debt. Imagine the VALUE creation!
Dollar Forced to Abdicate Its Throne [View article]
Nothing here good for Americans until Ponzi Politics ends.
Don't Bet on a Recovery [View article]
No. The correct answer is to downsize government and stick to a balanced budget.
The Bernanke Plan: Sacrifice Savers to Recapitalize Banks and Benefit Debtors [View article]
My point is that you're screwed if you're saving US dollars. Luckily, you can still convert to things Uncle Ben can't destroy.
Washington Gridlock and the Possibility of a New Debt Crisis [View article]
Why is the US still collecting tax money from citizens? If they care not to balance the budget, just continue to borrow without making everyone else poor. Paying your taxes is like loaning cash to a dying business run by a meth-head with holes in his pockets and tickets to Las Vegas on his desk to visit his 20 alcoholic brothers. I had to really fight for that analogy, but I think I nailed it.
Paul Krugman vs. Reality [View article]
"We Americans also must be honest with ourselves and recognize that we have been living beyond our means and that our lifestyle has been largely financed by austerity in China. "
Peter, what do you mean "we"? I've seen my savings stolen at every turn by higher taxes and inflation. It's taxed when I earn it, when I buy something, thru property taxes, when I pay bills or stay in a hotel, when I invest, and when I look at it and pat it on the head...taxed by the "Hotel and Head Pat Tax"! What isn't spent gets inflated away so an imbecile politician can enact his grand vision of utopia...which fails so he asks for more money.
I reject this whole "WE Americans" bit. Hold the people accountable who are guilty, not me. Start with every Democrat and Republican (start your thumbs down now party hacks) because those two parties have done everything they could to make this mess. If I'm mistaken about some administration, by all means enlighten me. VIVA LA REVOLUTION!
"...would help make U.S. goods more competitive, it would also lead to skyrocketing consumer prices, rapidly rising interest rates, and a collapse in American living standards. Make no mistake: this is the end game of Krugman's "get tough on China" policy."
It is THE end game (period). China is a minor player in the big ending. The perfect fiscal storm awaits and most every American boat is going down to lower living standards. Wait for the boogey-man to be defined by career politicians (remember loose Hollywood morals?). They'll roll out several to see what resonates with Joe Publicidiot. Then we'll saber-rattle (Republicans) while taxing the bee-jezes out of some poor sap (Democrats) who doesn't belong to a large enough voting block.
"This apocalyptic scenario can only be avoided if Washington jealously guards the status quo, avoiding confrontation with China at all costs."
You have as much chance as the meth-head in the alley behind the MGM who needs to avoid meth at all costs. Congress (Dems and Republicans) cannot remove themselves from the nipple that is deficit spending and their creditor is now giving them the stink eye. They are addicts. It is precious to them. They will continue to win as long as Americans exchange the current kleptocracy for the one they threw out of office a couple years earlier.
Paul Krugman vs. Reality [View article]
Ideas exist on their own. Massive support of 2+2=5 doesn't make it so. There's a proof against this. Maintaining 5 as the correct answer should discredit you.
You should be able to use a scientific method to determine the validity of an idea.
If you cannot do this, then sure look for a title and keep your head down.
The fact that people are deferring to Krugman because he has a prize does not bode well. But please, come down to my auto garage where my certified mechanic will tell you about the $6000 new engine you need (and you will obey him).
Dropping the Bomb on Healthcare [View article]
Health care is one of the largest ($$$$) industries and the Big Government Party (Dems/Repubs) wants a piece of the racket...a slice of the pie...a little off the top. OK, they want the whole pie.
It should be noted that there is massive wealth created when a massive state takes over a massive industry. In this case, insurance companies are licking their chops and shopping for yachts. Hospital owners are doing the same. Health care workers? Not so much. Patients? Visit the IRS, DMV or Postal Office for a preview of your health care.
I like Peter a lot. But at best he can serve as a voice of reason in Congress as there is no stopping this train. No change is possible. Maybe he can educate against the "Bezzle" (in this case the lie that we'll save trillions by spending trillions). The Bezzle is strong and the American mind is weak. No wonder they stopped teaching math in American schools. Well played, Big Government.
Is the U.S. Dollar Finished? [View article]
Sucker's Rally Approaching an End [View article]
Nothing personal, but no it didn't. And Hoover wasn't a deregulating, small government President (nip that in the bud right now).
Hot Richard wishes people would throw off the yoke of their American Government supplied education and really learn about the Great Depression.
Geithner's Doomed Bailout Plan [View article]
I support none of this, but let's be clear about what the real goal is here.
Dropping the Bomb on Healthcare [View article]
Completely incorrect. The nearest thing I can find to a "free-market system in healthcare" is Lazik eye surgery and boob implants. Both have reduced real costs and improved service over the last 15 years. And, one helps me greatly appreciate the other.
Mr. Clark, you look at highly-regulated, protected, and statist and see "free-market". You shouldn't do this. It is intellectually dishonest and I know from your other posts that you are capable of much better.
"We protect the wealth of the rich like terriers in America."
Correct, and we shouldn't do this either. But it doesn't make your other point any better. You know...the "two wrongs" thing.
Three Asset Classes that Can Actually Outpace Coming Inflationary Price Increases [View article]
Congratulations to Canada, Australia, and New Zealand. So far they are looking pretty good. And by "pretty good" I mean "sane".
Lehman's Collapse, Revisited [View article]
Worth saying again. It is also why Americans are bone dry when it comes to principled leadership.
Sucker's Rally Approaching an End [View article]
Getting 25% return in a month still doesn't mean you ain't a sucka. I got a blind squirrel with a nut that wants to talk to you.
I have no idea what will happen the next 12 months, but guessing is gambling not investing. Maybe the bull comments think we should print another $5 trillion in cash and go another $20 trillion in debt. Imagine the VALUE creation!
Canary in the Gold Mine [View article]
Which is why you must couple physical gold holdings with the partnership of Smith & Wesson.