SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: John Chen who wrote (241245)3/17/2010 10:56:21 AM
From: GSTRead Replies (2) of 306849
 
The failures of the Fed are many and glaring, but the primary causes of our worst problems are not due to the existence of the Fed. The worst of our problems are due to our current account deficit -- and the Fed plays a relatively small role in having created this deficit. Nor is there much the Fed can do to reverse the current account deficit, although it has a role to play. It is the current account deficit that will kill off the dollar, and it is the killing off of the dollar that will throw the US economy off the cliff.

The current account deficit is where our shortcomings as a nation accumulate -- the weakness of our education system, the weakness of our global competitive position in a growing range of industries, our reliance on foreign debt, the weakness brought on by the deficit spending of our governments, our dependence on oil, our hate mongering game of 'I am a bigger loud mouth idiot than the others so vote for me' politics -- and yes, the weakness of our spineless politicians, our anti-science creationist parents and politicians, our corrupt companies, and our loose and corrupt monetary policies.

In all of the this the Fed is a supporting actor -- but hardly the primary moving force. The Fed is the crack dealer down the street that keeps you well supplied -- after every other part of your life has already gone to hell. The crack dealer is not your friend -- but the crack dealer is the vulture and should not be mistaken for the truck that just ran you over.

This distinction is extremely important if you want to survive -- some will tell you to look out for vultures -- blame it on the vultures. Shoot the vulture -- as if a world without vultures is what we need.

I do not agree with this assessment. My view is that we would be far wiser to get the number if the truck that ran us over, and in the future to look out for other trucks with drunk drivers.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News