We’re pleased to see movement in this direction from Jindal. We are even more pleased to see that the fight against crony capitalism is becoming a vital issue which candidates feel they must address in the upcoming 2016 election.
Well this is pretty interesting. I think most of us who are paying attention have lost a lot of faith in cash over the past few years, but it sure is something when the head of the Federal Reserve admits on camera that the dollar isn’t a “convenient” store of value.
The truth is some (many) people just want someone to make decisions for them. I am unsure if it is a genetic disposition or whether it is socialization or whether it is both. All I know is some people do not want to control their own lives. They are more comfortable with someone at the helm. They are comforted by a horizon which is limited and defined by others.
Strangely these same people also want to limit the lives of those who prefer to be free.
I’m not a fan of Charlie Munger, Warren Buffett’s right hand man. I haven’t been a fan for a long time but this statement back in 2012 really annoyed me.
Such arrogance. I’m sorry Mr. Munger but not all of us get to drink from the Fed’s fire hose of easy money. For many of us gold is a last resort. Not an investment per se, but a hedge against guys like you. Of course you know that and that’s why you said what you said.
I didn’t need to see the ridiculousness of this past week to know that the GOP can’t be trusted to reduce spending. But the current Pentagon budget battle certainly illustrates the point.
Let’s just say that there is a reason why some people think that they are “taxed enough already.”
Now who isn’t paying their “fair share” of taxes?
Well your conspiracy buddies on Facebook were right I guess. Arkansas may start coming after drivers for a tax on miles driven. Going to work? Pay a tax. Going to church? Pay a tax. Driving to school? Pay a tax. Want to exist as a human being in relatively rural Arkansas where one has to drive everywhere? Pay a tax.
It should be noted that both the upper and lower houses of the state legislature along with the governorship in Arkansas are all controlled by the Republican Party.
I’ll believe this only when I see it. This could be more chaff shot by the Fed to quell “audit the Fed” efforts in Congress. But maybe it indicates real tumult behind the doors of the Federal Reserve. It’s too early to tell.
I will also say that it appears the citizenry has an ally in Congressman Jeb Hensarling who is the chairman of the House Financial Services Committee. Not only is Hensarling publicly open to this new proposal from Richard Fisher, the head of the Dallas Fed, the congressman is also actively seeking to kill the Export-Import Bank. An effort which we have given considerable digital ink. The Fed of course is far bigger game. The biggest.
Hey, so what if money went from your pocket into the pocket of a billionaire “farmer” thanks to a government subsidy? What’s wrong with that? You know what they say, it takes money to siphon money. Maybe you should get a move on and become a billionaire too.
He who is prudent and lies in wait for an enemy who is not, will be victorious. – Sun Tzu, The Art of War
Being unconquerable lies with yourself; being conquerable lies with your enemy. – Sun Tzu, The Art of War
As we’ve said before, the SHTF moment to watch for is the day the dollar loses reserve currency status. As we’ve also said, this day is still probably pretty far off. But one gets the sense that things are very fluid and increasingly so in the global money game these days. It’s almost like a financial “cold war.” Nothing happening which is too hot. Which forces any drastic moves. But a war is being waged none-the-less. The US and dollar dominance are under sustained attack and unfortunately we have exposed ourselves thanks to our profligate ways.
Can we get our act together? Can we act like adults in coming years? I don’t know. We take too much for granted. We’ve been fat and happy for a very long time. Perhaps we aren’t hungry enough.
I do think America can be hungry (in the good sense) again however. But there needs to be fresh blood in leadership – political, financial, and elsewhere.