Some people are utterly convinced that a new leader is going to somehow fix the economy.  Like this, from a recent LA Times article on how retailers are seeing sales go down even though they’re offering bigger and bigger discounts:

“The market’s a little soft right now, but we have a new president,” he said. “Things are going to get better.”

What they don’t realize is that the government can’t stop what’s coming.  It can only delay it a little longer…and make it worse in the long run.  The best thing they can do is to get out of the way.

Ron Paul questions Ben Bernanke – 11/08/2007 – Hearing of the Joint Economic Committee – The Economic Outlook

As usual, Ron hits the nail on the head – Federal Reserve Policy is dangerous to our economic well-being…and our freedom.

Watch it: Continue reading →

The following articles were the most-read articles and blogs at PopulistAmerica.com this past week: Continue reading →

I’m repeatedly surprised when I come across so-called “antiwar” activists that are ecstatic about Obama taking office.  After talking to them for a bit, the subject of Afghanistan always comes up.  In short, this is pretty much how the conversation goes: Continue reading →

Back in 1995, Robert Batemarco of the Foundation for Economic Education wrote an excellent article about the inflationary, boom/bust nature of our monetary policy. Thirteen years later, and it still is right on the mark – sound economic understanding possibly?

Here’s an excerpt:

In all likelihood, the biggest problem gold proponents face is that people simply aren’t ready to go back to gold. Most people aren’t aware of the extent of our monetary disarray and many of those who are don’t understand its source. Two generations of Americans have known nothing but unbacked paper as money; few realize that there is an alternative. In contrast, when the United States restored gold convertibility in 1879 and when Britain did so in 1821 and 1926, gold money was still seen as the norm. That is no longer the case.

It might take a hyperinflationary disaster to shake people’s faith in fiat money. Let’s hope not. In addition to the horrendous costs of such a “learning experience,” it’s not even a sure thing that it would lead us back to gold. Recent hyperinflations in places as disparate as Russia and Bolivia have not done so.

The desire to get something for nothing dies hard. Governments use central banks with the unlimited power to issue fiat money as their way to get something for nothing. By “sharing” some of that loot with us, those governments have convinced us that we too are getting something for nothing. Until we either wise up to the fact that governments can’t give us something for nothing or, better yet, when we realize the moral folly of taking government handouts when offered, we will continue to get money as base as our desires.

via Central Banks, Gold, and the Decline of the Dollar| The Foundation for Economic Education: The Freeman, Ideas on Liberty.

With the printing presses running wild at the Fed these days, I fear that a hyperinflationary disaster is not that far-fetched.

Recently, while listening to a (formerly) “antiwar” friend of mine touting Barack Obama’s plan to escalate war in Afghanistan, I was reminded of a great song that Pete Seeger performed over 30 years ago – Waist Deep in the Big Muddy.

Here’s the line that sticks out in my mind:

We were lucky to escape from the Big Muddy
When the big fool said to push on.

It seems to me that the big fool is the president, and it doesn’t really matter who that person might be.  If we’re lucky, we’ll escape from our new “big muddy” in Iraq – but yet, that big fool is telling us to push on to the next one.

What a great song – and to think – it aired on CBS…yes, CBS…at the height of the Vietnam war.  Think any Government/FCC-partnered network would doing something similar these days?

Watch it:

Karen de Coster on Bush’s dictatorial theft – and giveaway – to his corporate buddies in Detroit:

From John Williams:

The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated “discouraged workers” defined away during the Clinton Administration added to the existing BLS estimates of level U-6 unemployment.

See the accompanying chart:

Probably quite a few adjustments that still need to be done, but here we are – and welcome to you!

Here’s a few new features:

• Comments  – on all blog entries.
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We’re working our way back to transfer all our previous posts to the new system.  So far, it’s just Dec. 08, but wil have the entire year updated soon.

Thanks for your patience.  We hope you enjoy the new blog!

We need to clear out the bad investments rather than encouraging more of them…

Ron Paul, again, gets it right – this time on the Auto Industry “Bailout”