Date: Wed Jul 20 2005 15:16
trotsky (morbius) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
Keynes was right? about what?
i took your earlier comment to mean that economic growth can not possibly continue forever - presumably because it will run into resource constraints, the essential Malthusian argument. this i doubt, mainly because natural resources that run out for some reason, or become too scarce, tend to be replaced with something else. whale oil being a good example ( i doubt anyone remembers the whale oil crisis... ) .
the possibility of conventional crude oil production peaking in the near future will be an interesting test case. i for one think the market will find a solution to the problem, as it always has when faced with something like this.
this is of course independent of economic cycles that will still be with us. the imbalances wrought by the great fiat experiment will likely be resolved by a big global bust at some stage, but such recurring busts are simply a fact of life when money is subject to central planning.
Date: Wed Jul 20 2005 15:03
trotsky (Goldfleeced) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
well, humans are decidedly not microbes, and economic growth is not a zero sum game. ultimately its only constraint is human ingenuity, and i don't see where the limits to that supposedly are ( of course resources are scarce and must be optimally allocated, which is the function of the free market ) .
Date: Wed Jul 20 2005 14:58
trotsky (art, @VIX below 10) ID#248269:
a fascinating study in complacency. what happens at zero? you get to short the market for free.
Date: Wed Jul 20 2005 14:49
trotsky (AU_NB@uptick) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
in this case i believe it's simply a revelation about a deep psychological need harbored by Lenny-boy. he's so overeager not be seen as a 'wacko goldbug' and a reliable shill for the establishment instead, that he would just about say anything, as long as it comes across as denigrating gold ( which ironically, is his business, allegedly ) .
his condescending tone is quite repulsive as it were...especially as i doubt that he has any great insights to impart.
Date: Wed Jul 20 2005 14:32
trotsky (Goldfleeced) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
"Mother nature can not support another capitalistic society like the US."
this Malthusian myth will prove just as wrong this time around as it has every other time this prediction was made.
Date: Wed Jul 20 2005 14:26
trotsky (@Kaplan) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
"And gold, of course, goes lower," said Kaplan.
the only problem with this comment is that it apparently did not go lower. all spanking attempts notwithstanding.
Date: Wed Jul 20 2005 14:18
trotsky (BreXCEO@China, 13:28) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
absolutely agree...China's economic progress will by itself bring about political reform in due time ( in fact, the reform process has already begun ) .
also, you are right to point out that economic advancement is NOT a zero-sum game as the leftists and more recently the neo-con statists would have us believe.
Date: Wed Jul 20 2005 14:12
trotsky (AU_NB) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
"...Authorities must struggle continuously to find the proper balance."
oh no, those poor 'authorities'. a gold standard would relieve them from having to engage in this tortuous struggle....of course it would also relieve them of their jobs ( which is paid for by the same tax payers that they keep robbing...what a racket! )
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