Talking head on Faux News saying the current sell-off on Wall Street is due to 'investors lacking confidence in Congress being able to control spending and deal with the debt and deficit.'
>From the LA Times story about the dive on the stock market: <http://latimesblogs.latimes.com/money_co/2011/08/dow-drops-more-than-400-as-market-plunge-continues.html> "Investors have been moving into perceived safe havens such as gold, Treasury bonds and the Swiss and Japanese currencies." Right. They think that the US is going broke so they invest in....the US.... Want to know how to fix the economy? Sell a trillion or five of T-Bills at these historically minuscule rates, and spend the money in bringing the US infrastructure into the 21st century: we'd employ millions fixing our road, sewer and water systems, building a modern energy grid that's resilient to terrorism and less dependent on fossil fuels. In turn those people buy cars, houses, eat out, pay taxes, send their kids to school, etc. Plus all those private enterprise folks get the benefit of better roads, more reliable power, and less reliance of fighting wars for oil in foreign countries. Hell we might even be able to cut our defense spending down to only three or four times our nearest rivals... That builds a peacetime economy that offers a place for entrepreneurs and small businesses to thrive and move the economy on their own. Then we start raising taxes to pay for the debt when the economy is booming and can afford it. You know, like that noted marxist and socialist Eisenhower did. Better than waiting for our Galtian Overlords to piss a little down upon us. As the saying goes "We're all Keynesians now." I'd rather we spent those trillions of dollars we're going to have to on peaceful purposes; I don't think we really want to wait for another giant lump of Keynesian spending like WWII. Blowing shit up is much more wasteful, economically, than building shit, unless your plan is to profit on both ends, which is perfectly randian strategery. -- Bruce Johnson "Wherever you go, there you are" B. Banzai, PhD -- You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/stratalist-ot?hl=en.
