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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Joe Btfsplk who wrote (224986)	10/19/2007 8:59:49 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 795158

An Oyster; Interesting comments, thanks. Lot in play here, but I don't understand your comment about today's market action wellll, if you are from the Austrian School, you likely believe that we are in the process of "resetting" our economy. That is, that recessions are a natural aspect of the economy and the irresponsible monetary policy of Greenspan is coming home to bite us in the butt if you will (no laizzes-faire here huh?). Instead of letting the natural evolution of the economy - via Austrian thinking - Greenspan by unnaturally pumping the economy, made things worse than they would normally have been. .....That there are days that the Dow is down 366 points proves, doesn't it, that there are divirgant thoughts as to where our economy goes now. If you believe like Kudlow/Bush et. al., that the economy has no downturn because you can just adjust taxes (and monetary policy) and magically things will be okay, then how do you explain todays market activity? You are right on that there is a "lot in play here" and how the country meanders out of this economic (housing) crises is exactly why there is disagreement in economic thought. If you believe as Mish does we are in for trouble. Remember, I am a Ron Paul fan and so that should give you more evidence as to where I am from an economic standpoint. I would suggest to you that the only candidate that would qualify as a believer in Austrian economic thought would be Dr. Paul. steve