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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: shades who wrote (83746)	7/17/2007 7:47:23 PM
From: pogohere	Respond to of 110194

Maybe I have all this confused. I am definitely a chapter behind the class on these issues. I am persuaded, unlike the adherents of the Austrian school, that money is not a commodity, and is an asset that belongs to the community/sovereign entity and should not be a franchise operated by private interests (for example, the Fed, and pre 1946, The Bank of England). It seems to me the Fed and many other central banks are creating a lot of paper without regard to maintaining its purchasing power. I believe that is what happens when private entities rule the monetary roost. I am doubtful the current powers that be have the awareness or the incentive to do right by the broader community in the interest of social welfare and just as doubtful that the average person has the social and political awareness to advocate for what would truly be in their own interests. According to John Williams at shadowstats.com and government sources, per GAAP, the true deficit is ~$4 trillion per year and climbing. I'm not convinced adding to that would be wise. In general, yes, I'd like to see all kids get free medical care. Poor kids have, relatively speaking, better health care in Cuba than they do in Canada or the US, but do not enjoy political freedom. And won't any time soon. I'll let you know when I think I have this sorted out to my satisfaction. Don't bother keeping the light on for me.