So glad somebody did this. I saw Dick Morris on Bill O’Reilly’s show, attacking Ron Paul. When he spewed this nonsense about the gold standard I almost lost it, “[Ron Paul] is literally saying the USA economy should only be allowed to grow as much as gold is extracted from the earth”. Such a misinformed, ignorant view of the monetary system.
Via the Young Turks, who credit RonPaulForums.com as assisting.
Wow. And another example of the “free market” boys in action.
From the WSJ:
The two main U.S. makers—ACCO and Officemate International Corp. of Edison, N.J.—have survived in that business mainly because, since 1994, import tariffs ranging up to 127% of the base price have protected U.S. clip makers from what the federal government deemed unfair Chinese competition. In June, the U.S. government renewed those tariffs for another five years. ACCO and Officemate also have kept costs low through automation.
It’s not just the tariff itself, either. It’s the world’s ridiculous currency system too.
spending too much now
it only gets dismaler
dollar in hospice
Eh, eh?
I know. I’ll try to come up with a better one. Feel free to throw your own out there.
Seriously though, I’m actually quite optimistic these days. At least these issues are getting more attention, which means a resolution is that much closer. Definitely not selling my PMs yet, not even close. But I’m starting to think about how long the printing is likely to go on (no, it won’t be Japan, IMO).
And I’m not extremely bearish on stocks, either. I have some shorts, but for the most part it’s just really hard with the Fed gone wild/FR. Simpler/safer options like buying gold, silver, foreign-bonds. All just my opinion, talk to a pro, all that stuff. But the dollar? Yeah, very bearish on that. How could you not be? Wish I could buy yuan easily.
Dr. Paul explains why regulation, as traditionally viewed, would not be necessary in a real free market. Bailouts, monetary policy hamper natural market function. Lots more:
Hat tip LewRockwell.com
