Tuesday, October 14, 2008
From the blogosphere
From LewRockwell.Com
"How To Fix Our Depreciating Money" by Llewellyn H. Rockwell, Jr.
Here's the core problem of the gold standard idea. It is indeed the best path. But the people charged with implementing it will invariably be the very people who have caused the current problem, and have the least incentive to change the system. We've seen in the last several weeks how these people are willing to blow up the world rather than face liquidation. So the question becomes: how can we take steps toward sound money and banking without depending on the goodwill of the officials in charge?
read the rest here

From AntiWar.Com
"Liquidating the Empire" by Patrick J. Buchanan
Uncle Sam's Visa card is about to be stamped 'Canceled.'

The budget is going to have to go under the knife. But what gets cut?

Social Security and Medicare are surely exempt. Seniors have already taken a huge hit in their 401(k)s. And as the Democrats are crafting another $150 billion stimulus package for the working poor and middle class, Medicaid and food stamps are untouchable. Interest on the debt cannot be cut. It is going up. Will a Democratic Congress slash unemployment benefits, welfare, education, student loans, veterans benefits -- in a recession?

No way. Yet, that is almost the entire U.S. budget -- except for defense, the wars in Afghanistan and Iraq, and foreign aid. And this is where the ax will eventually fall.

It is the American Empire that is going to be liquidated.
read the rest here

From the Orange County Register
"Bingeing and purging" by John Stossel
The bailout passed!

Too bad.

When so many politicians speak with one voice in support of the biggest act of government intervention in the economy in generations, I cringe.

Everybody talked about the 'freeze' in the credit markets, but why, I wonder, were the cable news programs that repeated the credit-freeze mantra pausing for commercials from companies trying to lend me money? Ditech and LendingTree still hawk mortgages at under 6 percent. Some credit freeze.
read the rest here
 
  posted at 11:50 AM  
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