Michael Rozeff (MR), a retired finance professor, echoes my sentiments about the New Deal, blasting it on 15 January 2009 at: http://www.lewrockwell.com/rozeff/rozeff256.html.
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I am a CPA in Texas with an MBA from the University of Chicago. I have seen a lot and made many mistakes. Hopefully by now I will have learned something from them. Just as importantly, you may learn something from my mistakes. You can e-mail me by clicking on my "View my complete profile".
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6 comments:
New Deal = Roosevelt family owning thousands of acres for 100's of years >>> American lords of the manor >>> manor as center of the tribe >>> local/state tribes useless >>> big new Fed tribe make changes >>> big new Fed tribe became ossified by all mediocrities that follow >>> churches impotent (still)
People need tribes... hunt, live, mate together... Fed is dominant tribe... receives most tribute...
How to reform tribe? Churches are minor in the mix. Many new possibilities. Dream!
I would like it if billionaire kleptocrats didn't pay less taxes than me.
Hello i.a.,
Hey, I have a sorta question / kick it around thing and you might be just the person.
Bernanke has promised to do some QE, yet mortgage and T-bond rates went down, then started back up. What gives? Foreign selling? Speculators? Obama turned off the PPT machine? I suspect that all is not well at the federal reserve, maybe when Geithner gets in at the treasury he will turn up the monetization spigot? Maybe the new CONgreffs is wanting to piss away the money in their own special way? Thoughts as to cause, fututre movements? I think I know your view that long term is hopelessly screwed, but what do you think for the next 4 years?
It could be that China buying gold + the realization by the PTB that the remaining usa credit worthy are refi-ing at lower rates, screwing the banks further may cause them to abandon loose lending? Naw. So many variables.
Edgar:
I don't know. What do I see for the next four years? Big deficits, higher inflation and more of what we had under Bush. But Obama didn't go to Yale. But he did go to Harvard Law School. Bush went to Harvard Business School. No matter which side of the Charles River the President comes from Joe Six Pack gets screwed. I have no idea why the dollar strengthened over the last six months or interest rates fell. I think long-term bonds are a bigger bubble than Los Angeles houses.
As for China buying gold, I have suggested it to China at this blog. I don't know if anyone at the PBOC reads Skeptical CPA, but if anyone does, I would tell him buy gold. Let the dollar hang. Did you catch Geithner's recent comments about China manipulating its currency? Is he crazy?
Paulson loving-loving-loving China for years... "you're perfect China"
Geithner swore in and next day is China "You suck"...
It's more hacking around...
Putin snickers...
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