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Strategies & Market Trends : Picks of the quarter -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (5481)	3/18/2008 7:51:35 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 20435

Libertarians believe in limited government & personal liberty. Von Mises was an economist. ""Economics deals with society's fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen." Mises was able to demonstrate (a) that the expansion of free markets, the division of labor, and private capital investment is the only possible path to the prosperity and flourishing of the human race; (b) that socialism would be disastrous for a modern economy because the absence of private ownership of land and capital goods prevents any sort of rational pricing, or estimate of costs, and (c) that government intervention, in addition to hampering and crippling the market, would prove counter-productive and cumulative, leading inevitably to socialism unless the entire tissue of interventions was repealed." mises.org The 1970s were notable in that Nixon removed us from the Gold standard. Between the guns & butter policies of the Vietnam war era & the inflation of M3 after the removal of the Gold standard we had runaway inflation. Gerry Ford charmed us all with his W.I.N. buttons. Carter took the proper step in bringing in Volcker, although to this day people recall Carter as the man who gave us high interest rates. A case could be made for Paul Volcker being the man who defeated the Soviet Union, as his tight money policy ruined the commodity markets & as a result, brought about the bankruptcy of the Soviet satellites. <nobody complained when all the real money was printed through the 80s and 90s.> Personally, I was laid off from my engineering job in 1991 & missed out on all that money. My job moved to Milwaukee where labor was cheaper.