Posted on 11/01/2007 6:08:14 PM PDT by freedomdefender
It’s the 1970s all over again. A bad, expensive war. Wildly expensive new programs, such as Bush’s pills-for-seniors scheme and No Child Left Unbrainwashed program. Record spending and deficits.
No gold standard.
And inflation, inflation, inflation.
Oil just set a new record of $96 a barrel. Gold is at a new record high. Can’t anybody see the connection between the two. It’s gold that’s the determining factor, not oil or anything else. It’s the U.S. dollar that’s being inflated in comparison to gold, which is the only real money.
Bush, ever the dunce, has no idea what’s going on. He trusts Bernanke, the FEd boss, as he trusted Greenspan before him. Yet these men are inflationists — ironically, doing their inflating under the guise of fighting inflation!
But it’s easy to spot inflation: When gold goes up, the dollar goes down. That’s the definition of inflation: the dollar loses its value.
Only one presidential candidate is talking about returning to the gold standard: Ron Paul. That’s just one reason why we must rally to his cause.
Only Ron Paul can stop this inflationary monster. Only Ron Paul even understands what’s going on.
I think you seriously underestimate the impact that currency valuation has on commodity prices. The author of this article is right on target when he compares today’s economic climate in the U.S. to the 1970s. Actually, he should be more specific. It’s 1973 all over again, so we haven’t even begun to see the effects of inflation.
Only Paul is complaining about inflation....
Not too many other prices actually up, other than - I admit - oil.
And oil is going up because of SPECULATION, not the primary cost of doing business.
Everything is hunky-dory. Support the Bush/Rudy/Hillary/NWO bandwagon. Never mind the southern border, or the perfectly safe, Mexican trucks rolling north there-from; forget about Agents Ramos and Campean, the documents Sandy Burgler stuffed down his tighty whiteys before destroying, and the fact that a once nearly autarkic manufacturing giant is off-shoring tech jobs and industry while importing illegal skilled-labor like there’s no tomorrow, in what amounts to an all out assault on a once puissant middle class.
Watch your sports games and keep quiet, fear and consume. Nothing to see here...
LOL, what a pussy.
I honestly don’t know what people are complaining about. The stock market is still doing surprisingly well if you look at the last 6 years in totality. My investments have been doing quite well (beating the S&P). I would certainly rather have Bush in office another 8 years than one of the Demrats who will undoubtedly plunder the treasury and raise taxes.
Hardly original or new, that.
I WAS here in the USA in 1973, so I do remember.
Today is nothing like 1973.
Perhaps if someone imposes price controls and imposes government run socialized medicine like some other countries, we might retrace those steps.
I don’t know if Ron Paul is the answer, but the author is dead on in Bernanke’s criminal mismanagement of our currency. He just dropped the federal funds rate ANOTHER quarter point today, and claims to be ‘’moderate’’ because some people wanted a half point cut.
I don’t know when we decided to model our currency management on that of Nigeria, but it’s an indisputable fact that the dollar has lost sixty percent of its value against the Euro in the past five years or so. Sixty percent. And there have been no fundamental changes in the U.S. economy in that time.
Our massive overspending has a lot to do with that, but the managers of the federal reserve banks deserve tarring and feathering, not cushy unaccountable bank jobs. If anyone wants someone to blame for their $3/gallon gas, they should know just where to look.
I am curious, how old are you?
We’re getting the same BS economic arguments we got in the ‘70’s. Gold is the only true money, we’re told. The economy is on the verge of collapse. Blah, blah, blah. I’ve lived long enough to discover there’s nothing new under the sun.
The lack of price controls is the one thing different between today and 1973.
My first successful business enterprise was a donut/lemonade stand in front of my house back in 1979. My customers were the motorists lined up from the gas station around the block.
I do remember also:
Cities were in REALLY lousy shape, many nearly completely dilapidated and run down. Most cities, roads and infrastructure is far better off today than it was then.
Cars were simply horrendous, and on their way to being hideously horrendous.
People were wearing things like plaid elephant bell bottoms, and double-knit clothes were appearing on the scenes.
There was a general air of depression and disrepair.
However, the music was FAR better.
The Fed’s primary job is to fight inflation. However, articles that only quote the core inflation rate are very misleading... Most pocket books see an erosion in their buying power relating to other inflationary factors, for example, a weaker dollar which is negatively affected by rate cuts.
Why in the hell did the mod pull this thread originally?
BTW, I saw my first Paul 08 bumper sticker today
So you remember those halcyon Carter years — But were you old enough to understand? If so, how can you possible say that today compares to then?
Me, I was in Iran, doing business with the Shah ... then came Jimmuh, and the end of the Shah.
I understood what it meant when you tried to buy a house at 20% prime rates, or tried to buy a car when the bank was so worried about inflation they wouldn’t loan money unless you paid for the car with cash first. I understood what it meant when inflation was pegged at 12% annual.
The US economy had essentially shut down. I doubt a lemonade stand qualifies as knowledge about what was going on in the economy, the absolute dire conditions in America. The hopelessness was magnified by the ceaseless nightly airing of the Iranian hostages and that feckless President who seemingly could do nothing about it.
Jimmuh Carter was the worst President in US history. He nearly destroyed the country.
Energy prices are driving the cost of EVERYTHING up and it because of demand. The only way th heard this off is to start drilling and building refinerys
Wildly expensive new programs, such as Bush’s pills-for-seniors scheme and No Child Left Unbrainwashed program. Record spending and deficits.
“Only Ron Paul can stop this inflationary monster. Only Ron Paul even understands what’s going on.”
So did Ross Perot and we wound up with a Clinton.
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