Who won WW2?
I’ve been listening to The Tarp Song all afternoon and it reminded me of these clips with Peter Schiff and Stephen Leeb arguing about an auto sector bailout. Can you discredit doomsday?
This week I had a short discussion with a family friend who happens to be a financial advisor. He was asked for his take on the whole financial mess, below is a summary of what transpired. Keep in mind he has been in the business for a long time and is very mainstream. There isn’t a single original bone in his body, he strikes me as the kind of guy who will read all the research provided by his firm and believe every word of it. He’s smart, educated (PHD) and generally quite unremarkable in every other way. Discovering Psychology: The power of the situation
Central authorities are dangerous, anarchy doesn’t work. Richard Feynman – Take the world from another point of view
Some very insightful comments from a legendary theoretical physicist. We can learn from the brightest minds of any discipline. 1 of 4 Community Feeds
I am trying something completely different, on the right-most sidebar you will notice two new links: “Peter Schiff” and “Marc Faber”. On those pages there will be a list of links maintained by you, the readers. If you want everyone to read an article about either of these two men, or watch an interview, or something else relevant — post it. I will add more economists and other topics if this proves to be popular and successful. Please leave any suggestions in the comments of this post. You will notice I have also added a list of the last few forum topics just above the list of comments in the same sidebar. The forum is a much easier place to carry on long term discussions. The bubble in US government bonds
The President-elect has already warned the world to expect massive deficits in the coming years. For the purpose of this post, I won’t discuss whether the spending surge will be productive or inflationary, I will merely ask the question – where will the money come from? The road to hyperinflation
Today The market for discretionary goods is very large and volatile. There are certainly many things people can do without, but spending will never go to nothing. The performance of the market is irrelevant to our need for food and shelter. People may frequent restaurants less often and moderate their living conditions, but they will eat something, wear something and live somewhere. Homes will be heated, electricity will flow, cell phones will transmit and some form of transportation will still be required. As unemployment grows people will flock to reasonably priced entertainment. Prices may adjust as usage is moderated but these things will never go away. We have a real forum!
I’ve been a bit overwhelmed with the comments to a few posts, that feature of a blog is really better used to comment on the post itself rather than to carry out a longer-term discussion. So please use the forum when you get the urge. There is a link at the top right of the page. Why the world has money
Why the Venus Project must destroy humanity to create a perfect world for humans Dollars are money, but money is not dollars. Gold is money, but money is not gold. How do I explain these apparent contradictions? Simple, there is a one-to-many relationship between money and things we use for money. Referring to dollars as a form of money is technically accurate, but referring to money as dollars is not sufficient to describe all the properties of money — it limits the definition to dollars. Money is anything we use to trade for what we want. It’s a store of purchasing power. It’s something people either want, or will accept, in exchange for their property or labor. Sometimes money is a physical object, sometimes not. Not all forms of money are equal. |
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