Stephen Metzger

Why a Repeat of the Great Depression Is Unlikely

Data fed into a computer model, and presto! peace breaks out between the U.S. and Iran? Why am I not overwhelmed by this argument? The points about the lack of parallelism to the 1930s are well taken, however. We have another problem, pointed out by many analysts, which the potential for significant inflation. Then, as advocated by Obama supporters, George Soros and Warren Buffet, the Fed must be prepared to drastically raise interest rates. Now, if this scenario plays out, we might indeed have increased similarities to the 30s.

The Federal Reserve Has Failed Its Economic Mission

I read through most of the article and the first few of the responses that came up afterward. The article is convoluted and succeeds in obfuscating the issues by combining the relevant with the irrelevant. The responses, on the other hand, suggest the article lit a fire under a little band of Marxists (i.e., dangerous fools). Unfortunately, the little band has its man in the White House. I suggest we are moving not so much in the direction of the Soviet Union but rather in the direction of Argentina.

Orwellian Finance: Is 1984 Happening in 2009?

Ron Paul would have been far more acceptable and successful as a presidential candidate had he been able to discern that terrorists are, in fact, a real threat--just as Hitler and Stalin were. Orwell would not have denied this, and, of course, he fought against the latter two dictators. Otherwise, it's a great piece. I am tempted to distribute it to my classes in basic micro and macro economics.

Signs of an Economic Bottoming Process

The only thing you don't discuss--and it is pretty critical--are the new taxes which the Dems will impose. Imposing higher taxes on upper incomes, on dividends, on corporations, and on capital gains translates into no growth and no rise off the bottom once the bottom (wherever that is) is reached.