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Tag Archives: banks

Ron Paul: Not just a moment–we’re in the middle of a “libertarian transition”

The one and only time I met Ron Paul was in his office in DC in 2007. I had long admired him and I had come to pitch Dr. Paul on becoming a client of mine. I was a fledgling stock broker and I thought I might be able to interest him in some gold stocks.

What’s funny is that as soon as I walked through the door of his office and he and I sat down I forgot all about doing business and we just talked politics and strategy for about 20-25 minutes.

I left his office with a deepened respect for the man. Something which rarely happens (I now know) after meeting a politician in person.

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Dow down almost 300 points at this moment, Fear of a Fed created bubble chills markets

In the attached article from CNBC the point is made that the real bubble is likely an inflated confidence in the Federal Reserve.That come what may, the Fed will intervene in markets and buoy them. So what if stocks are over extended, Yellen and the FOMC will save the banker’s posteriors. As we’ve said before this sounds very much like “housing prices always go up” to us. If sentiment regarding the Fed were to change, if traders were to fear that things were bigger than the Fed, a downdraft could be wicked.

We’ll see. There’ve been many blips over the past 5 years and for the most part the pro-Fed folks have been right as far as equity prices are concerned. (Little else.) Maybe this is just another blip on the way to Dow 20,000 and beyond.

But maybe not.

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Memo to the Political Class: You Can’t Be a Hero and a Thief

Washington and the Fed think they can plan out society. That they can manipulate the levers of the economy to elicit positive outcomes (mostly for them). That leaving the world to the “whims of the marketplace” is madness. That dispassionate managers (no one is dispassionate, especially political managers) can and will make the world anew. There is no God. Government is God and it will giveth and taketh as it pleases.

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Big Business: Lapdog of the Left

The National Review’s Jonah Goldberg argues that what is called the American “Left” will never really fight crony capitalism. That what the progressives actually want is not the separation of business and the state but business which will do as it is told. Business as junior partner to the government. A lapdog.

Is he right?

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