Comments on: An Interview with Steve Forbes http://dailyreckoning.com/an-interview-with-steve-forbes/ Entertaining Ideas on the Economy, Markets, Gold, Oil and Investing Strategies. Sat, 11 Feb 2012 01:59:47 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Tony Blair http://dailyreckoning.com/an-interview-with-steve-forbes/#comment-994 Tony Blair Mon, 23 Feb 2009 09:58:48 +0000 http://dailyreckoning.com/?p=11708#comment-994 Tax tax tax and spend thats all politicians do except go to war every now and then. Anyone who can should move away from these stupid taxing countries and move to a tax haven offshore. Dont let the government tax and waste your hard earned money. Tax tax tax and spend thats all politicians do except go to war every now and then.
Anyone who can should move away from these stupid taxing countries and move to a tax haven offshore.
Dont let the government tax and waste your hard earned money.

]]> By: Anonymous http://dailyreckoning.com/an-interview-with-steve-forbes/#comment-831 Anonymous Fri, 20 Feb 2009 08:16:24 +0000 http://dailyreckoning.com/?p=11708#comment-831 I agree-just more brainwash-exactly what this country needs! I agree-just more brainwash-exactly what this country needs!

]]> By: WAAF http://dailyreckoning.com/an-interview-with-steve-forbes/#comment-821 WAAF Fri, 20 Feb 2009 05:54:56 +0000 http://dailyreckoning.com/?p=11708#comment-821 Steve Forbes does not know what he is talking about, at all. Just google his "put trillion dollar loss in perspective" back in 2008 Jun or Jul, where he famously stated compared to American's household wealth of $50T, estimated one trillion dollar loss from mortgage is only 2%. He forgot the household wealth include stock, which has already dropped 20% by that time, not to mention the 20% drop in housing wealth compared to bubble peak. I always wonder to myself how can such a fool/tool be so rich, then I remind me what Bill Bonner said in his wonderful book, surviving the soft depression of the 21st century, that a fool and his money ought to separate. It ought to. I am waiting. Steve Forbes does not know what he is talking about, at all. Just google his “put trillion dollar loss in perspective” back in 2008 Jun or Jul, where he famously stated compared to American’s household wealth of $50T, estimated one trillion dollar loss from mortgage is only 2%. He forgot the household wealth include stock, which has already dropped 20% by that time, not to mention the 20% drop in housing wealth compared to bubble peak. I always wonder to myself how can such a fool/tool be so rich, then I remind me what Bill Bonner said in his wonderful book, surviving the soft depression of the 21st century, that a fool and his money ought to separate. It ought to. I am waiting.

]]> By: S Balasubramanian http://dailyreckoning.com/an-interview-with-steve-forbes/#comment-818 S Balasubramanian Fri, 20 Feb 2009 04:20:20 +0000 http://dailyreckoning.com/?p=11708#comment-818 Steve makes a very common and fundamental mistake in his response to the question "Should we go to a Gold Standard". By saying "Should we be having a pile of Gold?", with the "we" referring (in the absence of an alternate interpretation to Central Banks, he clearly reveals a (fundamentally flawed) proposition that Central Banks should continue to have a monopoly over the issue of money. Unfortunately, this reveals a lack of understanding of the concept of money as something that arises out of the working of market forces and not something that is printed by a coercive monopoly like a Central Bank. When people say Gold Standard, they mean that anyone at all should have the right to issue money provided it is backed by a fixed amount of Gold (or Silver). Fortunately or unfortunately (the latter for Steve's assumption), that means having piles of Gold (or Silver) backing your paper notes. This is why Gold means Economic Freedom (as Alan Greenspan very rightly said before he agreed to become Financial Dictator). Sorry Steve, but you are dead wrong on this point. Steve makes a very common and fundamental mistake in his response to the question “Should we go to a Gold Standard”. By saying “Should we be having a pile of Gold?”, with the “we” referring (in the absence of an alternate interpretation to Central Banks, he clearly reveals a (fundamentally flawed) proposition that Central Banks should continue to have a monopoly over the issue of money. Unfortunately, this reveals a lack of understanding of the concept of money as something that arises out of the working of market forces and not something that is printed by a coercive monopoly like a Central Bank. When people say Gold Standard, they mean that anyone at all should have the right to issue money provided it is backed by a fixed amount of Gold (or Silver). Fortunately or unfortunately (the latter for Steve’s assumption), that means having piles of Gold (or Silver) backing your paper notes. This is why Gold means Economic Freedom (as Alan Greenspan very rightly said before he agreed to become Financial Dictator). Sorry Steve, but you are dead wrong on this point.

]]> By: DB http://dailyreckoning.com/an-interview-with-steve-forbes/#comment-785 DB Thu, 19 Feb 2009 20:30:37 +0000 http://dailyreckoning.com/?p=11708#comment-785 Notwithstanding that Forbes has some sound economic thoughts, it pains one to read his answer to the first question, re: American Empire. His answer is so ludicrously disingenuous that one is tempted to think it was uttered by the unlamented George Bush. Our intrepid interviewer gets no high marks for allowing Mr Forbes to skate by with his sophomeric, off the point answer. Notwithstanding that Forbes has some sound economic thoughts, it pains one to read his answer to the first question, re: American Empire.

His answer is so ludicrously disingenuous that one is tempted to think it was uttered by the unlamented George Bush. Our intrepid interviewer gets no high marks for allowing Mr Forbes to skate by with his sophomeric, off the point answer.

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