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| I Have To Vote For Beelzebub (Gary Johnson Economic Idiocy) in forum [Market-Ticker]
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Pika-steph
Posts: 54732
Incept: 2007-09-11
Live Free Or Die; US Army Est. 1775
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The penis placement was outstanding. 
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Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org/ "The only regulation that really works is failure."--Rick Santelli
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Genesis
Posts: 130777
Incept: 2007-06-26
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Steeerike One! 
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I don't care if it makes sense -- only if it makes money. -- Me Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb. What part of "shall not be infringed" was unclear?
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Pookie
Posts: 260
Incept: 2009-06-18
Florida
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Geez...there's no way I'll be voting for him.
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Once you admit that the individual is merely a means to serve the ends of the higher entity called society or the nation, most of those features of totalitarian regimes which horrify us follow of necessity. --F.A. Hayek
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Uwe
Posts: 6455
Incept: 2009-01-03
19446
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That was painful to listen to. How the hell did this nitwit get the nomination?
-Uwe-
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“Whenever the legislators endeavor to take away and destroy the property of the people, or to reduce them to slavery under arbitrary power, they put themselves into a state of war with the people, who are thereupon absolved from any further obedience.” - John Locke
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Genesis
Posts: 130777
Incept: 2007-06-26
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The one place the Austrians are wrong is that they think gold would fix this. It won't (and historically has been proven not to) because the problem is what amounts to effective counterfeiting and it can be done with a gold standard too (and has been, historically.)
But the worst part of this interview is that Johnson tried to bull**** Wenzel and it appears he doesn't have an economic foundation or position. For someone running as a Libertarian that's crazy!
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I don't care if it makes sense -- only if it makes money. -- Me Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb. What part of "shall not be infringed" was unclear?
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Stcm
Posts: 1812
Incept: 2008-02-05
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Is an economist or philosopher going to ever get elected? I thought Gary was pretty honest (for a politician) in a very tough interview. At least he knew that the Austrian school existed. And, he admitted what he didn't know!
His limited economic knowledge still seems stronger than either Romney's or Obama's.
Is the perfect the enemy of the good?
Of course, he doesn't have chance this election cycle. But hearing his reactions to the tough questions, I just might vote for him in November.
Who else we got? Ron Paul has wimped out and was not willing to stray from the Republicans. I might have voted for him if he was willing to go 3rd party. He's all hat no cattle.
IMO, we need mmore than one credible 3rd party to get this country moving. How about a strong Libertarian AND a Green party to start.
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Short-Term Capital Mismanagement - "When genius was never there to begin with!"
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Peterm99
Posts: 4993
Incept: 2009-03-21
SoCal
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Uwe wrote... . . painful to listen to. Absolutely. Boy, was I ever wrong in thinking that the cretinism of Presidential candidates had reached a never-to-be-surpassed high in 2008.
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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
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Rjazz117
Posts: 17800
Incept: 2007-09-11
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Pika-steph wrote..The penis placement was outstanding. ChiefBottleWasher wrote..Steeerike One! I noted a complete lack of lubrication...nice touch. Might I recommend this, for Round #2: 
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“To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.” Thomas Jefferson
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Hescominsoon
Posts: 66
Incept: 2010-01-04
Banned
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if you can't stand his politics you do NOT have to vote for him. Nobody is holding a gun to your head.
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Mannfm11
Posts: 3551
Incept: 2009-02-28
DFW, Tx
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This guy should be drummed out of the party. A trojan horse. I wonder if he knows who Leonard Liggio is? Friedman slipped in the back door at Cato, which was founded by Rothbard and a couple of other guys. Starting at page 21, read what Rothbard thought of Friedman's theories. http://library.mises.org/books/Murray%20....america's great depression.
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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Mannfm11
Posts: 3551
Incept: 2009-02-28
DFW, Tx
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I think the Austrians might be right that gold would fix it Karl. Their point is the government should stay out of money. The problem has been the bankers would lend paper and want to be paid in gold. When their paper is no good, the depositor doesn't get paid ****.
There was a debate about the legality of reserve banking for a long time before the bankers rigged the judges and legalized fraud. From there, the bankers set up a ponzi scheme amongst them that only failed when they loaned too much money. Gold failed because bankers created bubbles. Paper money hasn't fared any better and savers have been robbed blind and forced into banker schemes like inflated securities.
The most important feature of gold is in international trade. Massive trade deficits couldn't go on for long under gold. The exception to this rule is when there is return investment into an economy. The economy would be exempt from bankers and governments breaking it on an international basis be emitting too much credit.
loaning the same money over and over again by the same hands is where money runs into trouble. I could agree with Karl on paper, but it wouldn't be long it would turn into an IOU nothing and the money supply would be Bernankized. Governments use the rule of necessity and it wouldn't be long before the bankers would bribe their way back into governments good graces and the cry for more money would open the door for them again. On a private basis, a credit scheme is legitimate, as long as all parties involved know the score. That includes bank runs.
The biggest problem with the world is we have a dollar that is backed by nothing but debt. Gold failed because there were bankers involved. Had the dollar/gold exchange been maintained through tight money policies by the Fed, we wouldn't have the international mess we have today. Wars in Korea, Wars in Viet Nam, war on poverty, war on Americans destroyed that link. Today we live in a world of fiction. A world where king dollar has AIDS, but the world is stuck with it at the time. Currently, it is being managed by an idiot in a country run by a bunch of drunken sailors. This would not go on under gold.
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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Stonedog
Posts: 2080
Incept: 2008-05-29
New Jersey
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Wow - that was painful...
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"I would characterize my professional disdain as more of a professional contempt for their [Central Banker, Banker and politician] economic and financial policies, priorities, presumptions and prescriptions." - Lauren Lyster on Capital Account for Friday June 16, 2012
"All the stimulus, the bailouts, the quantit
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Flappingeagle
Posts: 1229
Incept: 2011-04-14
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Quote:The one place the Austrians are wrong is that they think gold would fix this. It won't (and historically has been proven not to) because the problem is what amounts to effective counterfeiting and it can be done with a gold standard too (and has been, historically.) Nothing will fix the re-occurring problem of banking crises (there have been 18 in the history of the USA)as long as you continue to allow fractional reserve lending. What gold did was simply bring the crisis to a head much faster than what you got with fiat money because fiat could be printed and injected into the system to give it the appearance of stability/solvency. You can't print up extra gold. Flap
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Here are my predictions for everyone to see: S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu. "You can't build a house of cards on a shaking table." - Tony Johns The January 2015 AMZN put at $130 (cost $4.25) will be a winner.
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Genesis
Posts: 130777
Incept: 2007-06-26
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One dollar of capital.
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I don't care if it makes sense -- only if it makes money. -- Me Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb. What part of "shall not be infringed" was unclear?
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Tesla
Posts: 15542
Incept: 2008-04-03
State of Disbelief
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I'm voting for Vermin Supreme. Everyone else is either a moron (see video for proof) or a bankster co-conspirator.
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"Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes
"Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams
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Eighty6thebs
Posts: 4183
Incept: 2007-06-26
It's contained to sub-prime!
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I still contend that the reforms we have to make(or those that will be forced on us) cant happen at the ballot box. Vote Obama, run this bitch over the cliff, and let's hope something better comes out the other side (which I doubt).
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"Sounds to me like you guys a couple of bookies" - Billy Ray Valentine
"No I am not scared, and neither should you be!" - Iraqi Information Minister
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Throxxofvron
Posts: 10325
Incept: 2009-02-17
Hyper-Speculative Psycho-Facsistic Parabolic Blow-Off
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I would like to think that Karl is right about One Dollar Of Capital...
HOWEVER:
The problem will be that Corrupt Government Bureaucracies most certainly can and inevitably will carve out exceptions for Themselves and for their Cronies.
You can't go with Commodity/Gold Backing/Convertibility, OR even with One Dollar Of Capital; without instituting absolutely impregnable defenses against the corruption of ALL Government & Quasi-Government Bureaucracies such as the Treasury, CBO, DOJ, DOD, Dept. of State, FDIC, FHLB, GSEs/Phony May/Fraudie Must/FHA-hole/etc. -and the FED.
-This would not merely include unassailable IRON-CLAD prohibitions against certain Acts of Legislation; but, would also include a plethora of prohibitions against Regulatory activity and/or inactivity, Presidential pardons/exemptions/executive orders/etc., Unnecessary Wars declared for the purpose of extra-legal activity in the name of 'National Security', Undeclared Wars/'Black Operations'/Wars Against Terror/Drugs/etc., Judicial reconstructions and interpretations of legal fine print; etc...
Do ANY of You REALLY think that the Corrupt Bureaucracies and the Corrupt Constituencies that are the Recipients of Extra-Legal Status and .GOV (Re-)Distributed Wealth are going to allow Themselves to actually be de-funded and de-fanged?
Do ANY of You REALLY that that is going to happen?
I DO NOT.
Remember good ol' Glass-Steagal?
THAT did NOT seem to matter one ****ing whit to the Government Bureaucrats and their Cronies when CITI was wanting to merge with Travelers, now did it?
The exemptions are more important than the rules.
-&, as the CITI/Travelers merger PROVED; there will be NO equal application of the rules.
-THIS IS the very same CITI/Travelers that admitted to CONgrASS that some 80% of It's Mortgage Loans DID NOT meet their stated underwriting standards and that those loans were packaged in MBS, rated as AAA; and sold off to unwitting Investors and Insurance Companies and Retirement Funds. -THIS IS the very same CITI/Travelers that is arguably INSOLVENT right now today as they are holding over $200 Billion in toxic/wothless securities that It cannot sell or mark to market. YET: CITI/Travelers is STILL open for business even though the FDIC rules demand closure, even thought Dodd-Frank was designed to facilitate such a 'TBTF' resolution without inducing systemic convulsions...
SO? WTF?
Don't You get it?
When and how Laws are applied is more important than the Laws.
-& there is NO equal application of the Laws
-The lack of Prompt Corrective Action is an ongoing regulatory problem. -Unprosecuted Robosigning Fraud is yet another.
-Need I continue?????
The ONLY answer is to ****ing Clean House -and Hang the Thieving Bastards, both Bureaucrat and BusinessManFraud -with some regularity; -maybe as often as these bull**** phony Dog-and-pony 'Presidential Elections' are held...
I am beginning to despair that these discussions are unproductive and may not be worth having...
NO One seems willing to actually face up to the primary/root problem nor accept the only historically proven viable remedy to that problem.
I feel sick...
-posting allowance exhausted-
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DIONYSUS: " Thou hast no knowledge of the life thou art leading; thy very existence is now a mystery to thee. " -from 'The Bacchantes' By Euripides “During times of universal deceit, telling the truth becomes a revolutionary act.” -George Orwell
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Peteb
Posts: 128
Incept: 2010-11-16
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OK...I read comments from others about how GJ did...I had a drink...I sat down and listened.
I need another drink.
This Presidential candidate thinks he can get elected without any real knowledge of economics. To me, that also says he does not think economics is the key to winning or losing the Presidency.
Hello, even Barrack and Mitt know that, even if the only solutions they offer are greater control by the Fed and the government.
Anybody get the license plate of that bus?
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Genesis
Posts: 130777
Incept: 2007-06-26
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No, but I think it's backing up to run me over again!
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I don't care if it makes sense -- only if it makes money. -- Me Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb. What part of "shall not be infringed" was unclear?
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Mike2007
Posts: 25
Incept: 2011-02-27
Oakland, CA
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First of all, it always amazes me on what premises RP is regularly declared unelectable, here and elsewhere.
Second if I had to choose between fractional reserve lending or fiat currency, keeping FRL to throw out fiat wins easily for me. What good is "One dollar of capital" is that dollar is backed by nothing? Against this FRL is effectually a declaration "we will put up and keep in place laws/regulations so that the largest loss to a bank will remain less than the reserves." One can discuss how high those reserves need be, but always keep in mind to balance safety with allowing opportunities to still be searched for (by new entrepreneurs) with reasonable easy credit - otherwise you get a static society, not by bureaucracy but by total risk avoidance.
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Genesis
Posts: 130777
Incept: 2007-06-26
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Quote:One can discuss how high those reserves need be, but always keep in mind to balance safety with allowing opportunities to still be searched for (by new entrepreneurs) with reasonable easy credit - otherwise you get a static society, not by bureaucracy but by total risk avoidance.
That's total MMT crap. Go run it somewhere else.
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I don't care if it makes sense -- only if it makes money. -- Me Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb. What part of "shall not be infringed" was unclear?
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