Author Topic: "It's All Coming Apart"  (Read 515 times)

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Online Pandora

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"It's All Coming Apart"
« on: April 20, 2011, 02:01:13 PM »
Quote
In order to right the economy, the fear and uncertainty imposed by existing and future government mandates and actions alluded to by Mr. Casey ("We are in a financial no-man's land.  "Investing" is problematic because of a deteriorating economy, unpredictable and increasing regulation, rising interest rates and wildly fluctuating prices.") must be removed.  Doing so will not be easy, for more is in play than Mr. Casey's short quote suggests.  There are at least five considerations that should be of concern to all of us:

1. An Incompetent President - The President is inexperienced and incompetent.  He is likely a fraud, as evidenced by his guarded and unknown past.  He is incapable of leadership, honesty, or management.  Virtually every one of his policy initiatives has been harmful to the economy and country.  His intentions are clear; the degree to which he will be able to drive us further down the Road to Serfdom is not.

2. An Incompetent Political Class - The political class attained power via Santa Claus economics, providing gifts to constituents in return for votes.  Both parties are guilty.  Politicians have conditioned themselves and their constituents to "free-lunch" governance.  Few know how to govern in any other fashion.  Most are indistinguishable from prostitutes -- vote for me and I will do "that" for you.  Both parties want to preserve the welfare-warfare State, disagreeing merely on the means of doing so.

3. An Incorrect Paradigm - The Keynesian model of spend and spend has been good for politicians but disastrous for the economy.  Over time, it has encouraged loose credit, overspending, and living beyond our means.  The failures are obvious to all but Statists and so-called Keynesian economists.  The political class cannot stop "free lunches" without suffering severe political consequences.  Hence, the abuses will continue until resources are exhausted.  Like Rome of old, we will soon run out of bread and circuses.

4. An Unhappy Ending - Current economic problems cannot be mitigated or solved without incurring another Great Depression.  Whether it is preceded by a deflationary collapse or a hyperinflationary blow-off is moot.  The ending is inevitable and as more people understand this ending, they take more extreme steps to protect themselves -- spending ratchets back, savings increases, and businesses refuse to engage in new investment or hiring.

5. A Dangerous Prelude to the Ending - Government is insolvent.  It would be bankrupt without Federal Reserve Quantitative Easing.  As a cornered, wounded animal will do anything to survive, so will Government.  Does that mean confiscatory tax rates, capital controls, IRA investments forced into Treasury Bonds, "excess profits" taxes, a national sales tax, etc., etc.?  It could mean any or all of these and more.  Government will not roll over.  It will do whatever it can to continue, regardless of how illegal, immoral, unethical, or harmful it may be for the country.

...

The charade that government can solve this problem may continue for a while.  So might the notion that the government cannot go bankrupt.  Yet both beliefs are false and will be seen to be so.  Spending, hiring, and investment will be unresponsive to anything the government may or can do.

The myth of government is breaking down around the world.  For those with 20-20 vision, the Emperor is already seen sans clothes.

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charlesoakwood

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Re: "It's All Coming Apart"
« Reply #1 on: April 20, 2011, 02:49:40 PM »

This is one scenario. 
By hard work, concentrated efforts, prayers, and God willin', this ain't gonna' happen.


Offline Libertas

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Re: "It's All Coming Apart"
« Reply #2 on: April 21, 2011, 10:54:10 AM »
If's and but's...
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RickZ

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Re: "It's All Coming Apart"
« Reply #3 on: April 21, 2011, 11:09:48 AM »

This is one scenario. 
By hard work, concentrated efforts, prayers, and God willin', this ain't gonna' happen.


No offense, but God ain't got nuthin' to do with it.  Now Smith, Wesson and Colt would, along with a bunch of other names.