Congresswoman shot.

[sirkickyass]

yes, it was a sincere question. Having noted some posters in here with some actual education to share.

Franklin hit all the major points.

I recognize the term Mercantilism as something I think the English practiced in the general span from the British Far East Trading Company days on to the twentieth century or so. Wasn 't that the force behind pax brittainica? And wasn't it pretty much the same thing behind the American-dominated era since then?

Mercantilism is usually strongly associated with trade protectionism. Germany's policies create massive import/export imbalances, particularly inside what is supposed to be an integrated economic region. Those policies are also the reason that Germany is presently the world's largest exporter in terms of dollar value.

On point 4, I checked my Primer on Govt Spending by Heilbroner and found him arguing that national debt is ok cuz we owe it to ourselves. Problem is, I don't owe it to me, I owe it to Rockefeller and a few others

You're conflating your personal portion of the debt with the mechanisms by which governments pay back their debts again.

I know Lyndon LaRouche takes a dim view of Friedman. Is he one of those "Austrian" types? He talks about govt credit being issued in large quantities for public works projects which he argues will increase our productivity. . . .

Lyndon isn't exactly mainstream. Friedman is not an austrian economist, and in fact wrote some critical pieces about Austrian economics.. Austrians were largely out of the mainstream for much of the 20th Century as the field became more premised on testability and data collection, concepts a lot of Austrians explicitly reject in favor of thought experiments. They've enjoyed something of a revival recently due to the cult popularity of guys like Ron Paul. A significant chunk of the current rush among the conservative crowd to declare that the answer to a recession is to cut government spending is influenced by Austrian theories of economics, which is why I say that the current controversy lies there.

For a Keynesian perspective on the problems with Austrian economics view of the business cycle and methods for dealing with recessions written in a relatively easy style to comprehend you can look here: https://www.slate.com/id/9593

For a "fun" (in the sense that the story itself is amusing in its subject matter) you can look to a relatively famous article about a recession in a very small economy, a baby-sitting coop: https://cda.morris.umn.edu/~kildegac/Courses/M&B/Sweeney & Sweeney.pdf

 

[The Pearl]

Kicky,

Would you say, in lieu of other reasons, that a large part of your rejection of Austrian economics is its lack of practical application in the modern economic world? I am far from an expert but it seems much of the Austrian theories, especially against the natural human instincts among politicians, would be impossible to implement.

I can't imagine President Ron Paul striding out in the middle of a recession, with 10% unemployment, quoting Murray Rothbard, and than advocating massive government layoffs and ratcheting up interest rates preaching that the best thing to do now is to strengthen the currency.

The impending revolt from everybody else that did not have a Euro Pacific brokerage account would make the revolt against Obama's policies look like a high school protest as a result of taking pop machines out of the cafeteria.

 

[Duck Rodgers]

Ron Paul president....The Euro Pac exec team making up the Fed BoGs......Schiff Chairman. Dreamy. Man, it's frustrating having all that talent in your country at one brokerage firm and not being able to use it.

 

[The Pearl]

Ron Paul president....The Euro Pac exec team making up the Fed BoGs......Schiff Chairman. Dreamy. Man, it's frustrating having all that talent in your country at one brokerage firm and not being able to use it.

Wow. Not a single pro in the business thinks Schiff has any economic or trading talent. Mike Pento is one of the great hacks on Wall St. He is the proverbial contrarian indicator.

 

[Duck Rodgers]

Wow. Not a single pro in the business thinks Schiff has any economic or trading talent. Mike Pento is one of the great hacks on Wall St. He is the proverbial contrarian indicator.

And while they are at it, Paul will pardon Schiff's father and he'll become Treasury Secretary.

Not a single one, eh? We know that's not true. But I agree that's it's not possible for Peter Schiff to be well liked in that community because he is anti-Fed. Just like you can't possibly like Ron Paul if you love/are dependent on government. When Wall Street/the City of London and their "pros" would have came completely to their knees without the FED, we don't need to pretend where any sense of loyalty or objectivity lies.

 

[The Pearl]

And while they are at it, Paul will pardon Schiff's father and he'll become Treasury Secretary.

Not a single one, eh? We know that's not true. But I agree that's it's not possible for Peter Schiff to be well liked in that community because he is anti-Fed. Just like you can't possibly like Ron Paul if you love/are dependent on government. When Wall Street/the City of London and their "pros" would have came completely to their knees without the FED, we don't need to pretend where any sense of loyalty or objectivity lies.

I wouldn't put bankers in the pro category. Schiff is not respected because he is anti-fed, he is not respected because he is a one trick ideologue when no trading skills or clue how markets work. A pump and dump artist exploiting the most vulnerable. He made one good call amongst a torrent of bad one's. Plenty of unhappy customers to boot. The investment landscape is littered with clowns like him. 15 minutes of fame. All the internet jockeys, Elaine Garzarelli, all the recent real estate wizards, Al "Chainsaw" Dunlap, even Greenspan. They are all the same, flash in the pan media darlings one day. Fools the next as soon as the public moves on the next great star. Roubini is already a has been.

If you trade or want to be a serious trader, you better check the political leanings at the door. They will ultimately crush any trader. They make for good TV, not good for long term success.

 

[Duck Rodgers]

What's he pumping and dumping? As far as I know, he's not even able to talk about specific stocks or anything of that sort. You can't possibly be referring to gold because anybody that has taken that advice has made out like a king. Maybe something inside of EuroPac that I'm not aware of? But those people wouldn't be so innocent because they don't invest small accounts. I'm sure they have 10's of 1000's accounts. I could see somebody being shuffled into something late, and losing money and being unsatisfied, but that's kind of the way it works when you let somebody else with a big client base manage your money.

I think he does understand markets, and he knows the market would've abused his firm if he was guilty of what you charge.

 

[Beantown]

Franklin hit all the major points.

https://www.youtube.com/watch?v=-Zf8t-uAzhk

 

[babe]

Franklin hit all the major points.



Mercantilism is usually strongly associated with trade protectionism. Germany's policies create massive import/export imbalances, particularly inside what is supposed to be an integrated economic region. Those policies are also the reason that Germany is presently the world's largest exporter in terms of dollar value.



You're conflating your personal portion of the debt with the mechanisms by which governments pay back their debts again.




Lyndon isn't exactly mainstream. Friedman is not an austrian economist, and in fact wrote some critical pieces about Austrian economics.. Austrians were largely out of the mainstream for much of the 20th Century as the field became more premised on testability and data collection, concepts a lot of Austrians explicitly reject in favor of thought experiments. They've enjoyed something of a revival recently due to the cult popularity of guys like Ron Paul. A significant chunk of the current rush among the conservative crowd to declare that the answer to a recession is to cut government spending is influenced by Austrian theories of economics, which is why I say that the current controversy lies there.

For a Keynesian perspective on the problems with Austrian economics view of the business cycle and methods for dealing with recessions written in a relatively easy style to comprehend you can look here: https://www.slate.com/id/9593

For a "fun" (in the sense that the story itself is amusing in its subject matter) you can look to a relatively famous article about a recession in a very small economy, a baby-sitting coop: https://cda.morris.umn.edu/~kildegac/Courses/M&B/Sweeney & Sweeney.pdf

you're right about Lyndon not being mainstream. The Bush dynasty hates him. A lot of black folk hear a distinct sympathetic note in his criticisms of our established modes/models. His case on the DDT ban being a form of genocide against the generally black/Asian nonwhites gets my vote. I've been in the tropics and know about mosquitos and malaria. As a chemist I might not want to eat DDT like one lecturer did for many years. . . . and in general chlorinated aromatic hydrocarbons are toxic. . . . PCBs being an example. . . . but I blanch at the health consequences of malaria on the scale of hundreds of millions of cases.

I read your Paul Krugman article. Franklin also sent me to Krugman. And the "fun" article. . . . but I confess I need to re-read for more comprehension.

Although I have in my time had some real serious Marxist friends some of whom did not consider themselves statists, and found that happy common ground of all the critics of "The Way Things Are" on the backside of public sentiments, I found myself understanding the fundamental Blackstone precepts quite compelling. The right to property is roughly equivalent to the right to life. Our founders used tariffs to fund the government and promote American enterprise and independence from the strong-arm international corporate of their day, the British Far East Trading Company. Nice folks who traded slaves and imposed opium trade into China by force of arms. . . .

I'll be working on some response appropriate to show a better way than giving bankers power over our currency. . . .

 

[Get Down]

can we split this thread so the experts on economics wikipedia articles can have their own private place to **** on each other, this is really weird

 

[babe]

can we split this thread so the experts on economics wikipedia articles can have their own private place to **** on each other, this is really weird

Congresswoman shot by deranged gold-bug opponent to fiat currency.

But I sorta see your point. I'll move over to another thread. Got something more about the shooter and his delusions of grandeur?

 

[moevillini]

I was thinking perhaps it was going to devolve into a discussion of whether Congresswoman Giffords suffered a right-brain or a left-brain injury...


at any rate, it's heartening to hear she's making such remarkable progress, it would be wonderful if she continues on a smooth path to recovery
my prayers for all the victims

 

[babe]

I was thinking perhaps it was going to devolve into a discussion of whether Congresswoman Giffords suffered a right-brain or a left-brain injury...


at any rate, it's heartening to hear she's making such remarkable progress, it would be wonderful if she continues on a smooth path to recovery
my prayers for all the victims

A lot of conservatives in her area appreciate her for listening to their concerns. As I understand it, she was pretty independent of the DNC central command. She offended the shooter on a prior occasion when he asked her a question in some situation much like the open meeting on the street by responding in a dismissive manner. What else can you do with a nutcase??? I am also putting her in my prayers because she is everything that has made us great as a nation. A politician with her own functioning mind and a sense of responsibility to her constituents.

Clearly, there is a prospect that she has suffered some irretrivable impairments, but the human brain can sometimes make up for losses like that in ways that just amaze us. We hope for the best.

 

[LogGrad98]

A lot of conservatives in her area appreciate her for listening to their concerns. As I understand it, she was pretty independent of the DNC central command. She offended the shooter on a prior occasion when he asked her a question in some situation much like the open meeting on the street by responding in a dismissive manner. What else can you do with a nutcase??? I am also putting her in my prayers because she is everything that has made us great as a nation. A politician with her own functioning mind and a sense of responsibility to her constituents.

Clearly, there is a prospect that she has suffered some irretrivable impairments, but the human brain can sometimes make up for losses like that in ways that just amaze us. We hope for the best.

Very good post. Especially agree with bold above. Sadly this is also what is causing the decline of our political structure, not enough thinking politicians. Party lines have really never been sharper or more hotly contested, or blindly followed. We really need more politicians to think about things, make actual real choices powered by their constituency not just their special interests, and put aside their pride and party devotion to make the best decisions for the country. Not just the decisions that will hopefully keep their party in control.