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Best video interview ever done by Morning JOE


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#1 nimblebear

nimblebear

    Welcome to the Dark Side !

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Posted 28 March 2009 - 09:34 AM

There a ton of people who hate this guy, ridicule him, say his solutions or ideas are impossible, yet there will come a day when he is proven right beyond any reasonable doubt.

http://www.youtube.c...player_embedded

The points he makes:
1) Shrink government now.
2) Get them the heck out of interferring with our markets
3) Stop flooding economy with cheap dollars
4) Stop stimulating
5) RAISE INTEREST rates (which is what I have been saying for over 3 years here on this board) to increase savings
6) Get people to save more money, get out of debt, decrease spending - not encourage more of the same that got us here

7) and the last point he makes wil come true - if they keep spending, and keep easing and keep printing dollars, EVENTUALLY our currency will completely collapse, (just like Argentina, Iceland, Wiemar Germany) and then we will finally have no choice but to do the right thing. As painful as this may seem to do now, to do all of the things above that are the opposite of whats being done now, as many people are unemployed now, and as many people feel that this is bad out there now, it will all pale in comparison to how really absolutely disasteris this is all gonna get if we stay on this untenable course. What happens from here and the direction it takes, is hard to predict in terms of the gyrations we might go through, but suffice it to say that in the end, it will all end so badly, that our current predicament will look like we were in wonderland.
This market will likely rally just like it did back in 2003, and it could go a few years making it SEEM like we are in another bull or even recovering, but just as harshly as it fell from starting back in 2007, it will fall again so very much more harshly, when our currency completely and utterly collapses. By then we won't just have a national debt of just $11 trillion dollars, we will likely be exceeding $30 or $40 or $50 trillion, and have unfunded liabilities of over $100 trillion, IF other countries stay stoopid and keep lending us the money. I hope other countries like china or japan or the arabs cut us off before we borrow that much. But again, any rally from here is false, its illusory, its unsustainable.
Im not argueing at all whether we have a rally. I think da cheif is right. But its ill gotten gains, its based on a ludicrous amount of monopoloy money, and nothing has changed fundamentally in terms of the structure of our financial system, the structure of our goods produced and manufacturing, the stucture of our government which is so sickeningly warped it stotally dysfunctional, and an economy that keeps going based on stoopidly cheap money, and assinine carry trades, and poisonous derivatives, and consumerism that just wont stop and is fostered by overleveraged indebtedness. People just dont get it. and its a really sad sad state of affairs. May gosh bless all, something changes soon. But the current course is simply the worst possible one we could take. Period. End of story. Listen to what the guy on the video is saying.

Edited by nimblebear, 28 March 2009 - 09:39 AM.

OTIS.