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Old 11-22-2010, 01:50 AM
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zambizzi zambizzi is offline
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Default Re: A funny state of the economy

Quote:
Originally Posted by Pollyanna View Post
There is also of course the fact that Obama, who was elected under the banner of hope and change, has consistantly followed the same course as the previous administration, and gone back on most of his promises. I think people hoped that this eloquent, intelligent man would go where no politician has gone for a long time and actually do what he said he was going to do, and since he's comprehensively failed to do that they have reason to be unhappy with him.quote]

Myunderstanding is that he has been opposed by Congress at every turn. You can only make changes if you're allowed to do so. Vince, if it's two peas in a pod it's because most of the govt personnel are the same, even if the Pres has changed.

Also, as said earlier, an ocean liner can't be turned around straight away - major policy directions determined in the past need to be worked through.

Vince, you say a monopoly might not exist in a free market but that's only if you start with a level playing field. However, the way things are the major players hold all the aces and any freeing will only allow them to entrench their power at a faster rate.

As I say, it's a wicked problem, old bean.
Opposed by Congress? I think not. Both parties are interested in the same thing but his own party has had control of both the Senate and the House, and obviously, the Executive. The predictable outcome of the next few years will be a dramatic swing back to the "right", which will again prove to be ineffective and destructive, causing another swing back to the "left", and so on, as it has always been. The positive thing to glean from this is the overall continuing loss of faith in statism.

The difference in the next few years will be that there will be no inflationary tides to ride and grow power upon. As this thread began - the FED will indeed hyperinflate the dollar. I could go into immense detail on this (even more so than I already have) and provide plenty of clear information as to why I believe this to be true. The thing to remember here is (and this is what I tried to point out to Harry); the American state won't survive the second Great Depression, not in its current form, at least. All of Europe, and indeed the entire world, faces the same type of social disintegration. This is the global "crack-up boom" that Austrians have always talked about.

I'm just happy that I'm hip to this now, so I can do the best I can to prepare my kids for the immense challenges they're going to face, as adults.

Edit:

From today's Financial Times:

"Pessimistic Fed to slash growth forecasts"
http://www.ft.com/cms/s/0/b92ecb0c-f...#axzz15xq7IbFK

Rising prices and unemployment. Bad news!
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