Civil War, Part II

[kandrathe]

Carter impresses me. Go figure.

I like the post presidential, pre-adle patted Carter best.

Obama hasn't put too many feet wrong yet... ...a careful centrist with a Reaganesque gift for inspiration.

I'd disagree. I oppose the Central government approach of "taking over" private industry, and imposing, and strong arming the owners of industries to the governments solutions. And, if by "Reaganesque gift for inspiration", you mean "hasn't left campaign mode", then I agree.

Not necessarily saying you are, but he is the big public prophet of the fiscal disaster you're warning about.

Probably because we are both literate in Ludwig Von Mises, and the Austrian school of economics. As we saw in 2000, a bubble cannot be deflated by diverting the over inflated value of a thing elsewhere. But, rather than deflating the bubble by allowing those who invested, or acted poorly to accept their risk and suffer their loss, instead the US government again has stepped in to intervene. Now, it is the tax payers, and their children, and their children's children who will suffer the loss. Fundamentally, nothing has changed within the economic structures that allowed things to get cock-eyed in the first place. So far, all that has happened is some amount of damage control at the expense of an economic system we call "Capitalism", but the fire is still burning out of control and the cause for the ignition has not been addressed.

But, don't believe me. Check out what other market analysts and economists are saying, like "Jason Hamlin, Ten Economic Predictions for 2009".<blockquote>"Many Americans will be facing severe financial hardship for the first time in their lives. The silver lining is that these conditions are necessary to shake our apathy, demand better from our government, our community and ourselves. It is tough medicine, but is a necessary prescription that will force the change that is needed in this country and the world. We have to hit rock bottom, feel hardship, liquidate excesses and rampant corruption from the system, restructure our government, economy and entire social system. It is not going to be a pleasant undertaking but I am optimistic that we will emerge with a much better world and way of life.</blockquote>