"Be sure your right, then go ahead." The least known might be his last words when he was ordered to death by Anna. "Ok, but I gotta warn you, I'm a screamer" Enderby
It must have been glorious to watch the panic of 1907 unfold without Helicopter Ben In The Sky With Diamonds.
Well, there IS that, but maybe you should have attended my Numismatic Theater (that's what they were called then) talk at Rosemont ANA in 2011. There are/were four eras of banking in the history of the United States: 1) Banks of the United States era. 2) Open banking era. 3) Federal Reserve with a gold backed dollar. 4) Federal Reserve with a fiat dollar. In era 1, recessions averaged 24.7 months in length and the growth periods between them lasted an average of 34 months. In era 2, 22.3 month recessions 25.3 months apart on average. In era 3, 21.7 month recessions 23 months apart on average. But in your evil fiat currency era, recessions have averaged only 11 months in length and the average interval between them is 59.4 months! So tell me, why do you want more and longer and more frequent recessions and depressions? Because by advocating a hard currency, that's what you're signing up for.
That may be good news for people who actually want to work (another dying breed in this country) but the short 11 month recovery time also increases the chances that cronyists and other parasites will live to suck another day. And the five year expansion time before the next recession gives them more time to burrow in deeper and deeper, ensuring that: systems and institutions work until they don't. Is there a video of your presentation?
Yes there is. Both the ANA and I believe the people who do CoinWeek have it. It can be borrowed from the ANA's library for free for ANA members.
I see by your points here that you at least sound like somebody who believes in the "cleansing" power of recessions and depressions. I see them as evil things fundamentally. I'm not into advocating for human misery.
If people do not receive their ration of pain and misery for screwing up, what then is the incentive to not screw up?
The problem, I think, is that the vast majority of the people receiving "rations of pain and misery" are not those who "screwed up".
Perhaps one of our ROK friends, @mlov43 can verify whether this is true or not, but I heard Koreans don't even have words in their language for "social welfare" or "entitlement." How are we going to compete with that?
Why? Aren't you proud to be a 'Murrican, the people who can't even get to the space station we built without hitching a ride on a Russian rocket launched from Kazakhstan?
I see it as having to take the Russian bus, so we are close there. But then I'm a 5th. gen Texacan, so what do I know. I DO think of space as the last frontier.