Tuesday, September 30, 2008

Read this.

Howard Husock.

The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities

...written in AD 2000. 8 years ago.

Understand this: you have only two choices.

You can have an imaginary economy based on the day-dreams of ambitious bureaucrats and politicians. Or you can have a real economy based on what people really trade and why they do so. You don't get both, and one doesn't work.

Imaginary economies work as well as imaginary parachutes.

So, yeah...I don't want no steenking bail-out. The capital everybody is worried about is still all out there. This is just a fight about who gets to keep it, and--if it's the government keepin' it--how much they get to pretend it's worth.

h/t Billy


Mike said...

Well said, Ron. I got some videos of Max Kieser predicting the current US economic issues almost 18 months ago.

Of course, he was dismissed because he was a libertarian, a gold-bug and worked for Al-Jezeera English....

Somena Woman said...

If you two haven't seen "The Control Room" - a documentary about Al-Jazeera - I highly recommend it. One of the best films I've seen in the past decade.

Somena Woman said...

PS -- One of the only gratifying things going on right now for me as a libertarian is that we bought gold back when it was $423/ounce. It's almost doubled in value since then. There's a lot to be said for being a "gold bug"