The GOP seems to no longer be the "party of business", but a mad-dog populist gang that is running around chucking sticks of dynamite in all directions. -- Noah Smith
OK - a dynamite stick isn't exactly the first thing you might think of when "fireworks" is mentioned. But it does make a big flash and go "BOOM!"
Happy 4th of July, and remember Independence Day has somethin' or other to do with freedom, as we stumble blindly along - at the behest of mad-dog populists -towards corporate serfdom.
And there's more than a touch of irony here, since the independence of the Fed is just one more thing to be blown up.
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5 comments:
Speaking of blowing up the Fed, what do you make of this idea? http://www.nakedcapitalism.com/2011/07/ron-paul-suggests-using-fed-to-end-run-debt-ceiling-impasse.html
Hey nanute -
It's been a while - how ya doin'?
I like Yves Smith, but she is seriously missing the boat on all the downside risks of Paul's plan.
I'm not sure Noah has it all right, either, but blowing up the Fed is reckless and irresponsible - just what you wold expect from a clown like Ron Paul.
That the other Rethugs are worse does not make him right, or even rational.
Cheers! (I suppose)
JzB
Jazzbumpa-
I've been around, just not commenting much. I've been trying to avoid breaking the Abraham Lincoln rule: Better to remain silent...
I think I agree with your assessment on the Paul issue. This seems like an attempt to undo the Fed a piece at a time. Next thing you know, these maroons will be suggesting that we just retire those "non-existent" SSI bonds.
Word verification is hayejc which could be a misspelling of Hayek. Oh, the irony.
Jazz,
Off topic, but I have an idea for a post. It is about a version of the denominator problem, and I know you are big on that. And it is about the justification for fighting inflation the way we do, which is a flawed justification.
I can't write the thing, because it needs a political point of view. It needs outrage. So I turn to you :)
If you're interested, and if you have a copy of Milton Friedman's Money Mischief, in Chapter 8 there is a footnote that identifies the data he used.
What I would ask is that you work through Friedman's selection of data and his calculation, evaluate it for yourself, and see whether you think it is reasonable or a scam.
My views are briefly expressed in this comment. I have more on the subject, when you want to compare views.
I can pass along a couple relevant pages from Friedman if you want.
Art
Art -
Intriguing idea. I don't have the Friedman book, but I do have lots of outrage.
I'm up to my eyeballs at the moment. Things should be a lot simpler in August.
Shoot me a reminder at the end of the month. No promises, but I will look at the concept.
Cheers!
JzB
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