Comments on: The “Second Round of Pain”

By: Silver Bully

Silver Bully — Sun, 14 Feb 2010 09:41:35 +0000

I also do not mean the above to sound like a good thing. I am a capitalist, and I believe a move to socialism/communism/fascism, and most other -isms does far more harm than good. We need a SOUND CURRENCY. The dollar is not up to the task anymore, and THAT is what the world economy is running on. In the meantime, ask Greece how that hopey-changey thing is working out for ‘em. And Spain. And Portugal. And France. And . . .

By: Silver Bully

Silver Bully — Sun, 14 Feb 2010 09:35:00 +0000

‘The Capitalism that has been practised in the last 40/50 years is unsustainable, will have catastrophics consequences within 10 years or
so but my question is: What’s are the alternatives ?’

This is less an economic problem than a CURRENCY problem. Socialism, Capitalism, pick any -ism you want . . . if you use paper money backed by nothing but ‘trust me’, this is what you get. Let me quote the author above: ‘The modern world economy is built on a foundation of unsound money.’ The DOLLAR is the problem. We need to be back on a metal-based standard currnecy of some sort. Fiat-based paper money will continue this super cycle of ‘capitalism’, as you call it, until it runs out of steam and the world economy crashes. Then someone else (with lots of gold) will pick up the pieces and lead. Hint: it’s likely gonna be a country in Asia. Starts with a C.

By: Frank Zoi

Frank Zoi — Sat, 13 Feb 2010 20:11:37 +0000

The Capitalism that has been practised in the last 40/50 years is unsustainable, will have catastrophics consequences within 10 years or
so but my question is: What’s are the alternatives ? So far no one has presented or
thought about anything better !

By: sierra

sierra — Wed, 10 Feb 2010 18:19:48 +0000

And, I might remind the reading public that it was Reagan who spirited the increase in deregulation on steroids after Carter started to deregulate such as the trucking and airline industry. (Try getting to a remote American enclave with the “mainstream” transportation system that “evolved.”
(My opinion) is that we really did not come out of the crash of 2000…(Nor really resolved issues from the one between ’87 and the early nineties.
“Bubbles” Greenspan and his desire for political popularity saw to that. Yes, we had a tech boom and a housing one, but look at the results….No net job creation since 2000…a wall of ready cash provided by the FED and a multitude of GSE’s and accommodating politicians, and the ultimate one of the 7 Sins, greed amply applied by the financial world to give us the necessary illusion of “financial progress.”
As for the financial progress we have been moving sideways since those above crashes and panics….we have a long way to go…it won’t be easy or pretty.

I’d like to read more of the above writer…on Daily Reckoning.

By: Hairy

Hairy — Wed, 10 Feb 2010 14:08:53 +0000

Dean, whether it’s the Rats or the NeoCons, it’s two sides of the same coin. Remember, Tricky Dlck was the one who broke the gold tie.

The Pigs of Wall St. continue to thieve America’s thrift and growth, the int’l banksters impoverish the world with their counterfeiting… it’s time we got out of dodgy.

By: Dean the debaser

Dean the debaser — Wed, 10 Feb 2010 12:26:58 +0000

Yes it is a pretty dodgy way to run an economy. You can always rely on the democRats.

By: tony bonn

tony bonn — Tue, 09 Feb 2010 21:20:26 +0000

the dow may not fall to new lows – although i strongly believe that it should – and independently of daily reckoning – but if it does not do not forget the time value of money….in lieu of not breaking to 5000, the dow will move sideway for years….6 of one half a dozen of the others but it will seek its rightful nadir in correction of if its poor valuation…