Wow JP! promoting the Dali Lama and the Grateful Dead in reference to economic history and change. You certainly can develop a dialog of the most diverse variety. <g>
That was a bet wasn't it? Something like.. I bet you $20, you can't answer this post and include "Dali Lama", "Milton Friedman", "Richard Nixon", and "The Grateful Dead" in it.
BTW- The Dali Lama's brother runs a Tibetan restaurant near here, the 'Snow Lion'. I've eaten there many times- it's very good. The Dali himself has visited here many times, and there is even a local buddhist shrine and a monastery. The monastery was near a park where I played softball, and the monks used to come out and watch the games sometimes. It is an interesting religion, and the members are very open, very friendly, very peace loving. It's a shame all religions are not the same.
I can't find a thing in your post to disagree with. Life and economics are without a doubt cyclical in nature. Summer turns to fall, which turns to winter, which begats spring, and the cycle repeats.
Unfortunately, it is human nature to extrapolate the past into the future as a straight line. I am oft times guilty of doing it myself. At least I do know that it is wrong to hold onto that view for long.
You don't sound like a know-it-all to me. You sound like someone who is able to learn from the past, and apply the knowledge of smarter folks to explain the present. Please continue to share that with us. <g>
The only solution the Fed has EVER had to offer the economy is to print more money. That's it! The disconnection with the gold standard has opened the spigots to inflation- and they can't easily be shut off. That's not to say that it will or won't work. You can lead a borrower to water, but you can't make him drink. <g> You can also flog the consumer to make him thirsty- but you can't force the lender to lend.
Who's to know how it will play out- but my bet is that a rapid inflationary cycle will follow this deflation.. as it always has before
Regards,
TW |
