You bet there is. It’s what we are fighting for. An economic system based on real prices, open markets, and sound money would serve the world so much better than the centrally planned, top down, command and control, fiat money system we must now endure.
It’s been tough to save money since the Crash. Right now many of us are receiving a negative real interest rate on our savings. (If we have savings.) That is, the interest we get on our money is not enough to keep up with inflation. From the moment we buy a CD or deposit money into an interest bearing account we are actually losing money. (We are losing even more money though if we keep it in our mattresses – by a very small amount.)
Most Keynesian economists do not want to admit that we are in another depression. They find the word painful.
The times they are a changin’ and they are a changin’ in jolly old England.
In fairness Romney is probably not fully involved at this point. The establishment Republicans are seeking desperately to find a candidate which keeps the current GOP power structure in place.
We’ve had an amazing run in the markets and many people think the bull will just keep on running. Maybe so. But eventually every bull runs out of steam even ones which are fed by the Fed.
One of the points we try to make here at ACC is that it’s not that “bad” people are in government and that what we need are “good” people to come in and take the reins. It is of course a very good thing when we are lucky enough to have honest people representing us in Washington, and it does happen, but generally it is the system that is the problem. It is too large. It runs too much of our lives. There is too much power vested in Washington. This power attracts the power hungry like moths to a bug zapper and often corrupts the decent people who find themselves in DC.
Some people get on us for pointing out that public employee unions are kind of a JV crony team which costs the taxpayers of this country billions each year. Invariably the people who benefit form unionized government work howl and insist that they are in fact the “good guys.” They are just trying to do their job and to be paid adequately for it. And oh, by the way, don’t touch their pension. We should focus our attention on the evil corporate America.
If the voters of Switzerland do choose to back their currency with gold I promise you that there will be MUCH more interest in the Swiss franc.
As Bill Frezza correctly identifies in the attached piece, the federal indictment of FedEx on drug trafficking charges is a shakedown pure and simple. For $1.6 billion.
Cough it up FedEx.