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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (99751)	7/17/2009 12:12:04 AM
From: Little Joe	Read Replies (1) \| Respond to of 116555

God and he is a heart beat from the Presidency. He makes Sara sound like a genius. lj

To: mishedlo who wrote (99751)	7/17/2009 2:09:05 AM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 116555

Wow, what a great post. I will certainly forward.

To: mishedlo who wrote (99751)	7/17/2009 6:30:53 AM
From: John Metcalf	Respond to of 116555

This is an old song from the sixties, by Pete Seeger, set to a talkin' blues: Talking Ben Tre Tell you all a story from across the sea 'Bout a little town they call Ben Tre Set on a river bank, peaceful as you please Till it got caught between two ideologies Con-front-ation! ... Western civilization at stake. Down by the river came a-marching along The local chapter of the Viet Cong Went into towns with their flags a-wavin' It was easy to see that the town needed savin' ...they walked into town like they lived there... Our boys saw what was going on So they called up the general on the telephone Said, "Which ones are the enemy? We can't tell? Said, "I don't know either. Blow 'em all to hell." "...don't matter much anyway - once you've seen one you've seen 'em all." The general watched the fighting about all day Said, "We've got to save that town some way. It's time for a humanitarian act, We'll call in a full scale bombing attack." ...Napalm...big bombs...real pretty...just like the 4th of July. The houses burned the whole day long, Boy, we really cooked them Viet Cong! And we burned about two thousand others But they were just old folks, children and mothers. ...good thing we saved 'em...some of them kids might've grown up to be Communists! When the smoke cleared away, the town was clean, No Viet Cong were to be seen. Just 30,000 grateful friends, glad we did right, Each one looking for a place to spend the night. ...not much to do when your house is burned down ...guess they stood around singing...the Star Spangled Banner. Our foreign policy is so much better now, under Changey-Hopey!

To: mishedlo who wrote (99751)	7/17/2009 8:05:32 AM
From: Yulya	1 Recommendation Respond to of 116555

As one of the most astute Americans ever to live, H.L. Mencken, observed about the New Deal, "It is a puerile amalgam of exploded imbecilities, many of them in flat contradiction of the rest." And among the imbecilities that Mencken highlighted was the very one that Mr. Glaeser warns against. Mencken described it as a proposal "to lift the burden of debt by encouraging fools to incur more debt." marketcorrection.powerblogs.com

To: mishedlo who wrote (99751)	7/17/2009 10:09:20 AM
From: Hoa Hao	1 Recommendation Read Replies (1) \| Respond to of 116555

I think Joe was referring to this fine bit of economic theory: It's the month of July in a resort town. A hotel sits next to the shores of a lake. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit. Suddenly, a rich tourist comes to town. He enters the only hotel, lays a 100 dollar bill on the reception counter, and goes to inspect the rooms upstairs in order to pick one. The hotel proprietor takes the 100 dollar bill and runs to pay his debt to the butcher. The Butcher takes the 100 dollar bill, and runs to pay his debt to the pig raiser. The pig raiser takes the 100 dollar bill, and runs to pay his debt to the supplier of his feed and fuel. The supplier of feed and fuel takes the 100 dollar bill and runs to pay his debt to the town's prostitute that in these hard times, gave her "services" on credit. The hooker runs to the hotel, and pays off her debt with the 100 dollar bill to the hotel proprietor to pay for the rooms that she rented when she brought her clients there. The hotel proprietor then lays the 100 dollar bill back on the counter so that the rich tourist will not suspect anything. At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 dollar bill, after saying that he did not like any of the rooms, and leaves town. No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism . And that, ladies and gentlemen, is how the United States Government is doing business today.