[mark]

[In re-reading this in preview, I realized it's nothing more than a rant; I'm sure most here already know all this and more. It's just that I heard wonder boyz press conference this morning; just when you thought it can't get any worse, this idiot opens his mouth.]

If I wasn't living through it I wouldn't believe it. How can supposedly bright people be so stupid. Who can believe that the cure for inflation is more inflation? How can the FED say that they will first fight recession, by creating more inflation, then they'll fight inflation? This must be how conspiracy theories get started as no one can believe that people in charge are really so stupid.

However, I'm finally convinced that they really are that stupid. With commodities going through the roof, indicating ever worsening effects of inflation, Bernanke signals more rate cuts to follow. That sends the dollar to historic lows with no bottom in sight. So what does the scrub say this morning, “this administration supports a strong dollar policy.” When a reporter ask about $4.00/gallon gas he reacts with surprise. “I haven't heard that..,” he says. You can't make this stuff up. These people are as stupid as a box of rocks.

With very stupid people and very corrupt people and people willing to go along to get along, how can one remain positive? I have no better idea than anyone about the shape of the collapse, but collapse seems ever more inevitable. To me it seems peak oil is in a race with economic turmoil leading to a depression. In previous instances of economic stupidity there has always been enough energy to bootstrap our way to a revival. This time, it may truly be said, is different.

[killJOY]

$this->bbcode_second_pass_quote('', 'H')owever, I'm finally convinced that they really are that stupid.

[mark]

killJOY, I remain open to the other possibility. In fact, I've gone back and forth many times between stupid,don't care, and deliberate ploy to weaken the US and enrich "themselves." I don't yet know the answer, today it's stupid and in general I'm leaning to stupid. I'll check out your reference for more enlightenment. thanks

[joeltrout]

What would you do to solve the current economic problems facing the US?

joeltrout

[killJOY]

duplicate.

[killJOY]

It's one of those talks that makes you want to scream out the window:
$this->bbcode_second_pass_quote('', '
')"THEY ALL PURSUE POLICIES THAT CONSISTENTLY BENEFIT THE GOALS OF FINANCIAL CAPITAL:

EXPANSIONIST

AGGRESSIVE

VIOLENT, and, I might add,

SUCCESSFUL.

If they're judged incompetent or neurotic, we pronounce their policies as failures:

WHAT FAILURE?

The estate tax has been eliminated.

Corporate taxes have been cut back to almost nothing.

Military budget has doubled.

Human services cut back.

All the Great Society programs defunded

Two presidential elections have been stolen.

The super rich are richer than ever.

YOU TELL ME WHERE THE FAILURE IS."

[EnergyUnlimited]

My view is that Bush & Bernake are not stupid, but nevertheless they do realize that nothing realistically can be done at all to wiggle out of mess.
America is going down a drain, they know it but they cannot do anything to change that.

So they will lower interest rates perhaps down to zero and let inflation to finish off currency together with debt burden.

That is to help those greedy Americans to get their homes for free.
So essentially there will be a free meal!!!, courtesy of Mr Bush, your Saviour.

But what will be later?
Who cares?
Mr Bush is going to spend his old age in Paraguay after all.

[joeltrout]

If you think about it, Ben and Bush have more data then anyone in the country dealing with the current problem. So who can say they are making stupid decisions. Most people that call Ben and Bush stupid don't even have an econ degree or a great understanding of economics. Ben and Bush have arguably some of the smartest economists in the world working on this problem so why call them stupid.

joeltrout

[EnergyUnlimited]

$this->bbcode_second_pass_quote('joeltrout', ' ')Ben and Bush have arguably some of the smartest economists in the world working on this problem so why call them stupid.

joeltrout

[heroineworshipper]

The internet may make people more stupid. Dubya & Ben have thousands of reprints of their story through AP that they didn't have in 1980. You're more likely to believe a Google search result saying money is stable than your own eyes.

[americandream]

actually both positions are correct as to the mental ability of the elite (I wont personalise it here as I believe that the shrub's malaise is a widespread one so characteristic of politicians in our age of "democracy".)

On the one hand, yes they serve their personal interest well in terms of sowing the seeds of confusion that mask their true intent. To that extent, they are brilliant!

On the other hand, they share the same planet with us and the stakes are much higher in this age as opposed to the days of say Henry VIII. It is here, that they demonstrate an alarming level of idiocy and gross mismanagement of our common goods, (this planet and its resources)

[joeltrout]

$this->bbcode_second_pass_quote('americandream', ' ')It is here, that they demonstrate an alarming level of idiocy and gross mismanagement of our common goods, (this planet and its resources)

[dbruning]

Sounds about right. But on the plus side...I think there is a decent chance renewables will become popular again...and remain that way for a long long time.

In most things you get the choices: good, cheap, fast

but you only get to pick 2 of the options.

We as a species seem to have gone with cheap and fast.

[joeltrout]

$this->bbcode_second_pass_quote('dbruning', 'S')ounds about right. But on the plus side...I think there is a decent chance renewables will become popular again...and remain that way for a long long time.

[Fishman]

joeltrout
You ask the appropriate question. Its easy to scream how stupid someone is without offering solutions. With a withering budget deficit and falling value of your money there is only one solution, dramaticly cut back federal spending. Whether this is done domestic (Medicare, Medicaid etc) or internationally (military and foreign aid) neither will happen politically. The dollar will continue to decline. Problems ahead for sure.

[BigTex]

One of the purposes of the Fed is to promote price stability.

They do this by excluding from their inflation figures anything with a price that is unstable.

[mark]

For those who want them there are no shortage of solutions, Ron Paul has offered many. He's never gotten more than 10% of the vote. Looks like americans don't want solutions but instead prefer illusions. Would you really be any different?

One of my favorite writers has this to say about our so-called leaders.

http://fredoneverything.net/FOE_Frame_Column.htm

They've got more information? Only if you don't do your homework and get your news from the MSM.

[Ferretlover]

Every once in a while, this thought comes to the forefront:

Somehow, this mess is tied to the formation of the North American Union.
Help those in the group to pad their nests (should be cells), and then, when the rest are in no financial postition to pose a threat, "save them" with the Union.
Of course, I could be wrong...

[joeltrout]

$this->bbcode_second_pass_quote('mark', '
')
They've got more information? Only if you don't do your homework and get your news from the MSM.

[mark]

Economist will overwhelm themselves with data and call it information. They will complicate the so-called science of economics with Keynesian doublespeak. Then pronounce that only the anointed, like them, are capable of understanding the tea leaves. If you, like them, believe that, then no, I don't have all the information.

On the otherhand, you could avail yourself of another school of thought, the Austrian model. You'll find things clear up right away.