Post: #1

Guy worked for Reagan, now he blames the government/fed for creating the problems.

http://www.nytimes.com/2013/03/31/opinio...l?emc=eta1

http://www.businessinsider.com/david-sto...-to-2013-3

http://www.businessinsider.com/david-sto...ged-2013-3

If things continue as is we will have no real growth most years followed by recessions. Redistribution of wealth upwards to those with connections.

Post: #2

God damn. That NYT piece is the heaviest dose of red pill financial truth I've seen in years.

I'm surprised the Times would print a verbal smackdown against the powers that be of that magnitude.

Stockman's new book is on this same topic: http://www.amazon.com/gp/product/1586489127/

I will definitely be picking it up.

Post: #3

Check the NYT comments.

"Stockman used to be a Yankees fan so his opinion on baseball is worthless after the Red Sox ended the curse of The Bambino."

"No, the Yankees are a great team."

"I prefer the Dodgers."

That might as well be the comments.

Post: #4

While Stockman trots out many of the tired old tropes -- the hazards of fiat currency and going off the gold standard -- and while he has yet to fully grasp the implications of a connected global financial system, virtually all of what he says is true.

Everybody gets hammered, including Paul Ryan -- not for the fact that his budget tries to rein in costs, but because it doesn't go far enough.

Money quote -- emphasis mine.

Quote:Instead of moderation, what’s at hand is a Great Deformation, arising from a rogue central bank that has abetted the Wall Street casino, crucified savers on a cross of zero interest rates and fueled a global commodity bubble that erodes Main Street living standards through rising food and energy prices — a form of inflation that the Fed fecklessly disregards in calculating inflation.

These policies have brought America to an end-stage metastasis. The way out would be so radical it can’t happen. It would necessitate a sweeping divorce of the state and the market economy. It would require a renunciation of crony capitalism and its first cousin: Keynesian economics in all its forms. The state would need to get out of the business of imperial hubris, economic uplift and social insurance and shift its focus to managing and financing an effective, affordable, means-tested safety net.

Here that lefties? Single payer health care? Living off the government teat?

Nope -- we need a change to a libertarian mind set.

We're fucking broke. And most don't even have a clue.

Post: #5

Plenty of butthex for lolllzzz.