Posted on 05/09/2010 7:12:29 PM PDT by driftdiver
So, you like Ron Paul?
____
Von Mises’ quote doesn’t mean alot unless you put it in context to what your point is.
Though his theories are generally excellent. He doesn’t have the context of the present day. So, we don’t know how he’d react to our current day situation. I find Hayek’s writings much more practical and less theoretical than Von Mises’.
I think a far worse problem than credit is government debt. Credit is not bad in itself. Reasonable lines of credit are necessary for innovation and business to take great ideas and turn them into business opportunity. Credit is by no means a bad thing.
Debt on the other hand, is something that can hit a tipping point. Government cannot control itself and it is an inherent evil.
So, you think "it's different this time?"
Famous last words.
Hmm interesting you ignored everything except that one line.
Of course it’s different. It’s a different time. If this were an experiment, wouldn’t all of the environmental variables be changed?
Exactly which 'variable's have changed? Do you mean the names of the countries involved perhaps? That's not a 'variable' for these purposes.
A true variable in a mathematic sense is only the numbers involved and where they're plugged into the equation. It matters not if the numbers are arabic, Roman, Greek, or cyrillic.
2 + 2 is always four no matter what symbols you use to express the equation.
At any rate, you're picking nits. The point of the article is that the spigot of US Taxpayer funds has now been pushed to the "Full Open" position by the Fed and you, me, our friend Travis, and every taxpaying American are now subsidizing Greek garbage collectors who receive 14 months of pay for 12 months work, get to retire at the age of 50 with a full pension, and have lifetime medical benefits.
How's that feel? If you're butt isn't sore you're not paying attention.
L
You really do believe, "It's different this time," the eternal mantra of the Captain "Unsinkable" Smiths of economics.
“The Gods Of The Copybook Headings” is more appropriate every day.
Too Big To Fail - is this going to be our epitaph?
Same place the Federal Reserve gets its other Federal Reserve Notes. From its own statutory ability to create money by establishing credit lines. It’s using it essentially to buy Euros from the ECB to prop up the Euro and Euro-denominated assets.
Ron Paul's lack of knowledge on almost any subject is astounding.
“2 + 2 is always four no matter what symbols you use to express the equation.”
Economic theory is not equations and math. Economists always predict the last 6 out of 2 recessions.
“The point of the article is that the spigot of US Taxpayer funds has now been pushed to the “Full Open” position by the Fed and you, me, our friend Travis”
I totally agree with you on this...Travis started a sidebar with me on a comment to another poster.
“That’s all we really need to know.
You really do believe, “It’s different this time,” the eternal mantra of the Captain “Unsinkable” Smiths of economics.”
You asked me for my opinion on your Mises quote...I gave it.
This is your response? A strawman and vague references to Smith with nothing concrete.
If you want to make a specific case make it, maybe we’ll agree, maybe we won’t. Mises had alot of opinions and theories...some appear brilliant and some look ignorant in the context of the present day.
**I don’t make the mistake of judging Mises Austrian School theories with present day realities. That is not fair to Mises.
This isn't an unsecured loan you know. We give them $$$ and they give the Fed the same value in Euros. When they give us the dollars back, they get back the Euros. In the meantime, we earn interest on the Euros.
So what's the problem?
The Fed doesn't borrow from China. And a swap isn't a gift.
A swap isn't for nothing. Try again?
There you go again.
Too many facts for you?
bttt
ping
1.30 Euro is the problem. What will the euro be when they pay it back.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.