Don't turn off the night light!
~Marrrrrrrrkah

9:06PM BST 06 Sep 2009
China alarmed by US money printing

The US Federal Reserve's policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.

doc fiddles & diddles as . .

a) congress spends 24/7

b) treasury printing presses run 24/7

c) T-bond investors plan pullout

d) unemployment CONTINUES to rise

to quote the oft maligned James Carville - -

IT'S THE ECONOMY, STUPID"

And increase cavities.

From their website....

"the Institute ascribes to his (John Locke's) theory that society is based on the law of nature and that the individual is the ultimate source of political sovereignty."

Pretty much explains it.

Oh yes, a return to the more laissez faire policies that destroyed the economy in the first place. Brilliant. That isn't even really economic theory, it's actually just a blatant attempt to justify more class warfare.
It is time for class war to be conducted but exactly the opposite of what these people are saying.

""the Institute ascribes to his (John Locke's) theory that society is based on the law of nature "

Figures these free-market simpletons advocate the law of the jungle.

#5 | Posted by danni

Return to laissez faire? What's in that Kook-aid your drinking? This country hasn't had anything resembling laissez faire since the beginning of WWI.

With the Employment Act of 1946, the US government made market interventionism official policy. I can't think of any private sector where government presence is absent.

The Employment Act, Act of Feb. 20, 1946, ch. 33, section 2, 60 Stat. 23, codified as 15 U.S.C. 1021, is a United States federal law. Its main purpose was to lay the responsibility of economic stability onto the federal government.

Figures these free-market simpletons advocate the law of the jungle.

#6 | Posted by nullifidian

By any name, the laws of nature are inviolable. That applies to economics as well.

"This country hasn't had anything resembling laissez faire since the beginning of WWI."

Oh, the good old days of sweatshops. No unemployment compensation, no workplace safety regulations, no 40 hour week, widespread poverty, pollution, etc. A right-libertarian's wet dream.

"By any name, the laws of nature are inviolable. That applies to economics as well."

No fool. What humans try to do is rise above the laws of the jungle. That's what we call "civilization". You should put your gold where your mouth is and go live in the jungle rather than enjoy the labor protections you have due to organized workers putting their life on the life for ingrates like you.

#10 | Posted by nullifidian

ROFLMAO

The whole of science is founded on the laws of nature. In economics, it's impossible to consume more than you produce. What should be self evident is lost to you.

"Labor Unions See Sharp Slide in U.S. Public Support "

Really? Mouthpieces bash again and again the only signer of the contract that actually fulfills its part of the bargain, and anyone is surprised some idiots actually believe that?

I'd like to see a survey regarding public support for management.

Oh, the good old days of sweatshops. No unemployment compensation, no workplace safety regulations, no 40 hour week, widespread poverty, pollution, etc. A right-libertarian's wet dream.

#9 | Posted by nullifidian

I take that as an admission that you agree with me about there being no laisse faire since the beginning of WWI. Please tell Danni. She doesn't know when to give up on that bogeyman.

"I take that as an admission that you agree with me..."

That will be the day!

#12 | Posted by Danforth

That's a Gallup survey that I posted. Take up your grievances with the general public.

#14 | Posted by Bani

Nulli went off on such a tangent that he didn't realize he was agreeing with me. That's why it's so funny.

"Take up your grievances with the general public."

Pundits worshiping at the ballsack of management are more the problem. How many times did you hear about how the Union was bleeding GM dry, vs. how many times did you hear the $$ formula for laying off costs into the future was management's decision alone?

"I take that as an admission that you agree with me about there being no laisse faire since the beginning of WWI. "

That's dumb. You might just as well admit that laissez faire is a nightmare for workers, and that improvements in working conditions came at the expense of laissez faire.

Dan - you are too one sided. I've argued before that GM had management AND labor problems that would inevitably lead to bankruptcy. This link lays it out in more detail.

"I'm not going to get into a debate about apportioning blame because I don't really know."

Well, when one side represents 50% of the signatures on the labor contract, and 100% of all the other decisions (including underfunding the health care and the retirement pensions), and decides to lay off costs to future cars (read: now), I think it's pretty obvious.

#18 | Posted by nullifidian

Whatever your grievances with laissez faire, at least have the honesty to admit that we've had nothing like it for the past hundred years. Therefore, it cannot be blamed for today's economic problems. That was my point from the beginning before you went on your rant.

Whatever you say, Dan.

perhaps 'O's' economic theories & his Chicago politics style simply can't work on a national scale --
they didn't work for Lenin or Castro & Chavez is anxious

shit - - Alinsky never thunk regular citizens would educate themselves, organize, & speak up

interesting that Huff-Po is suggesting top dems are discussing potential challengers to 'O' in their 2012 primary

I wonder where Hil & Bill will fit in??

some may want to cool their Obama cheers til they see if he's gonna have bus tire tracks up his back

Here's a warning to you denizens of Wonderland. The Federal Reserve has been running a giant Ponzi Scheme for almost a hundred years. All Ponzi schemes eventually reach the point where there aren't enough new entrants coming into the scheme to pay off the older entrants. The Federal Reserve system depends on the expansion of credit to be sufficient to pay off debt holders. It collapses when the cost of interest exceeds new debt. That's were we are now and why we are in a deflationary spiral.

"It's remarkable how socialists like you keep deflecting to the imaginary free market economy. You're only screwing yourself."

That was some seriously funny shit. Watch this:

"It's remarkable how CONSERVATIVES like you keep deflecting to the imaginary free market economy. You're only screwing yourself."

The majority of conservative rhetoric I hear is based on this phantom free-market economy (from actual economics to schools and teacher pay, all over DR and all over conservative argument in many forums). I've never heard a liberal ballyhoo the free-market economy as some cure-all. That's purely conservative rhetoric. (Apologies to Ray if I unfairly tagged him as a conservative. Perhaps he's libertarian.)

So Ray, back to your comment on the Fed (which I don't know enough about; mea culpa). Are you then suggesting that we are going to collapse and no longer be an economic superpower--or no longer be able to hold onto the illusion that we are an economic superpower? The end of empire?

"Are you then suggesting that we are going to collapse and no longer be an economic superpower--or no longer be able to hold onto the illusion that we are an economic superpower? The end of empire?"

He has been for years now. He will continue ad nauseum. It gets funny after a while.

#25 | Posted by pragmatist

Yes. That applies to both the left and the right. I'm more libertarian.

So Ray, back to your comment on the Fed (which I don't know enough about; mea culpa). Are you then suggesting that we are going to collapse and no longer be an economic superpower--or no longer be able to hold onto the illusion that we are an economic superpower? The end of empire?

Yes. This country is close to bankruptcy where debts and leveraging have gotten to massive to manage. See graphs.

He has been for years now. He will continue ad nauseum. It gets funny after a while.
#27 | Posted by danni

I've been warning people for years because that's how far in advance I saw this coming. The math is certain. See graphs above. Timing of something this complex is always problematical.

In your case, I prefer you to ignore me.

Could send us to 3rd world status?

Playoofs, Playoffs, who said anything about the playoffs.

Obama and the democrat party has already destroyed this country. The hand writing is on the wall.

Ya, sure. Written coincidentally in George W Bush's handwriting. Before he took office we were doing well.

The only modern example of a national economic depression as severe as what the US is experiencing happened in Japan in the 1990s. The Japnese government's initial position was to allow the economy to "rebound" on it's own and encourage private investments. The depression worsened into the middle of the decade. It wasn't until the second half of the decade that the government began to pump huge sums of money into the failing banking system. After this infusion of money the economy finaly began to turn around. Economists studying this period determined that only a national government has the resources to invest the amount of capital necessary to turn around a depression. This is an extremely simplistic account of Japan's economic troubles, but the parallels with the US economy are numerous. There has already been return on investment from the largest US banks to the fed. I'm hopefully optimistic that we're on the right track.

Timex wrote,

"Before he took office we were doing well."

So when the Nasdaq dropped from 5000 to 2000 under Bill Clinton that was just a tiny little blip?

How about Clinton selling us out in NAFTA?

How about Clinton gutting our military?

How about 2 embassies being bombed?

Oklahoma city?

Waco?

Ruby Ridge?

Kolbar Towers?

But hey, under Clinton there were lots of McDonalds, Hardees, Subways, Chic Fila's, and other fast food restaurants built to help provide those solid high paying jobs for which Clinton will always be remembers.

Lets not also forget some other goodies like, Midnight Basketball, 100,000 new cops, stealing the white house furniture, pardoning terrorist, losing his law license, being impeached, and giving MERV technology to the Chinese.

Yep, we were doing reaaalll goooood under Clinton. Of course by Obama standards we really were!

The downsizing was not begun under Bill Clinton. It was first agreed upon under the waning days of the Reagan era. It was known as the peace dividend. It was first implimented under Bush 41 with Secretary of Defense Dick CHeney. It was continued under Clinton and Subsequently Dubya. Not a word about either Bush from Buzkiller I wonder why. The Ruby Ridge happened on August 21 1992 under Bush 41's tenure. Waco has always bugged Me because they could have gotten David Koresh anytime that He was away from the compound but wanted to appear Big Man on campus.

Larry

"So when the Nasdaq dropped from 5000 to 2000 under Bill Clinton that was just a tiny little blip?"

Disingenuous to the point of dishonest.

When Bill Clinton took office, the NASDAQ was at 697. It rose as high as 5048 (you were 1% off) and after, dropped as low as 2291 (you were 14% off). When he left office, it was at 2770, for a total overall gain during his Presidency of 297%.

By comparison, when Bush left office, it was 1465, for a total overall LOSS during his Presidency of 47%.

Oh, the good old days of sweatshops. No unemployment compensation, no workplace safety regulations, no 40 hour week, widespread poverty, pollution, etc. A right-libertarian's wet dream.

#9 | Posted by nullifidian

And who is to blame for such working conditions?

Libertarian principles only work when people. both employer and employee, are principled to begin with.

What humans try to do is rise above the laws of the jungle. That's what we call "civilization".

#10 | Posted by nullifidian

Humans simply created another jungle, for themselves, filled with cruelty, hate, greed, and immorality. Step the wrong way in this "civilized" jungle, you will be killed, often for the pleasure of of the one killing you. Human life really doesn't have much value in this human jungle. If you have something that somebody wants, only that something has value, not you.

How about Clinton gutting our military?

#33 | Posted by buzkiller

Continued uninformed perpetuation of this myth. The military was already being "gutted" with Reagan. Sure, Reagan was given the credit for bringing down the (an already collapsing) USSR. He upped funding for techno-military gee-wizardry. But behind the scenes, already their were many base being closed, staff reductions taking place (had to pay for all that techno stuff somehow). This continued through Reagan's term, through Bush 1, continued through Clinton. Fu8nding though has never really shrank in real dollars. If anything, it has increased. But whyat we are getting are far more sophisticated weapons delivery and information gathering systems, all which come at a very high price.

Choices: large standing army with so-so equipment to do battle, many of which are standing idle awaiting orders as to where to deploy.

Or lots of high dollar satellite and surveillance systems, gathering information, coordinating, collating, and sending info to commanders who can then pin-point where to send troops to do the greatest damage in the least amount of time using the lowest number of assets, including the force multipliers on hand such as the F-22, the various flavors of cruise missiles, the carrier groups, etc.

ZOT makes a good point about the colapse of the USSR. The USSR was on the verge of collapse and Raygun just happened to be in office at the time. He had no more to cause this than I did.

Oh, the good old days of sweatshops. No unemployment compensation, no workplace safety regulations, no 40 hour week, widespread poverty, pollution, etc. A right-libertarian's wet dream.

#9 | Posted by nullifidian

Walmart lowered 'em to $4 in 3 months . . .

AND THE CORP IS STILL MAKIN' MONEY

You're as divorced from reality as Christians.

#11 | Posted by Ray

Holy $h!t Ray, that really IS being divorced from reality.

Are they really Obama's policies, or is he just the "face" peddling them to the US public?

These policies clearly benefit the bankers/Wall St. (as they always have) so one could assume he did not actually come up with these policies.

Think about it, the President comes and goes but the policies remain the same.