tag:blogger.com,1999:blog-11906042.post2904410916592926123..comments2024-03-29T10:51:27.752+13:00Comments on Not PC: It's a YouTube afternoon here at NOT PCPeter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-11906042.post-23410028052755972452008-11-23T20:43:00.000+13:002008-11-23T20:43:00.000+13:00This lecture from the Future Freedom Foundation on...This lecture from the Future Freedom Foundation on Austrian Economic's take on the current financial crisis might be of interest, it is in 9 parts, the first part is here:<BR/>http://www.youtube.com/watch?v=nKSiSCEAjz0getionsmexaguilhttps://www.blogger.com/profile/11543512488519278616noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-50701383970149539402008-11-23T10:00:00.000+13:002008-11-23T10:00:00.000+13:00I agree Berend. I can see how it seems to make sen...I agree Berend. I can see how it seems to make sense that gold should rise, but there's no guarantee gold will go anywhere anytime soon. <BR/><BR/>I read Robert Prechter's Elliott Wave Theory and he says the same thing - and advises to hold mostly cash at this time. And he's been right on the money about this crisis so far. I fear it could be more devastating than many of us want to imagine.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-76945283635752504732008-11-22T22:39:00.000+13:002008-11-22T22:39:00.000+13:00mr watchman, first of all, it's a waste. Secondly,...mr watchman, first of all, it's a waste. Secondly, who gets hardest hit by these created busts? Yes we all know how. Not John Key.<BR/><BR/>Thirdly, and that's a biggie, these busts are a chance for government to grow. Historically speaking they have done the most egregious things during these busts, and they don't tend to get rolled back. So with every bust things get a bit worse. Every time the government encroaches more, runs more things. As government cannot run things, i.e. central planning cannot possibly work as has been proved, we might hit upon a time where the government will actually run all things, and that will be the end of civilisation as we know it.<BR/><BR/>What's Obama gonna do now all the journos shout about greed and no regulation? Take over the banking industry? Watch citigroup. Before the weekend is over, that might be government bank, all but in name. In Europe banks are already taken over. It means the government is taking care of your money for you. If that doesn't worry you now, you might get worried when it is too late.<BR/><BR/>Historically speaking the only oppression that people have really suffered was from governments. Not from companies. I don't love Microsoft, but they have never oppressed me. Only governments force me, at gun point, to hand over the money.<BR/><BR/>Big governments are not good for you, whatever benefit you think you might receive at the moment. If the government is big enough to give you everything, it's big enough to take everything away.Berend de Boerhttps://www.blogger.com/profile/11433622686361556089noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-61703977738986352802008-11-22T20:45:00.000+13:002008-11-22T20:45:00.000+13:00I’ve been reading PC’s with more interest than und...I’ve been reading PC’s with more interest than understanding regarding the current financial situation.<BR/><BR/>Thus I disagree with the notion that the previous level of economic activity was ‘unsustainable’. I don’t see why this cannot go on for ever. Am I being Keynsian?<BR/><BR/>I mean we haven’t run out of any key resources, or encountered a meteor strike or anything. As PC has convincingly pointed out, this has all come about as a result inflating the money supply. Everyone ends up losing their savings. Bummer.<BR/><BR/>But the way I see it is the only thing that could get in the way of simply repeating the same expedient, would be if people wised up – like if PC et al had columns in the Herald or something. <BR/><BR/>Meantime, simply re-convince the people that they are working for themselves, roll over the illusion of private wealth, and off we go again. We all get up on Monday morning, and believe Matrix-like that this has not happened, and keep doing what we were before. No one would starve who would not have before. Builders will build, and teachers will teach on their mint salaries. Skyscrapers can still be built with government endorsed loans - just don’t rely on any accumulated wealth to remain either wealth, or yours. It will probably belong to the government.<BR/><BR/>This of course is great if you ARE the government – printing your own salary and making a living out of the productive endeavours of others you can’t go wrong – and look forward to your inflation-indexed super scheme, obviously a helluva lot more future-secure than money in the bank. <BR/><BR/>By my reckoning, while it is a closed system comprising a cunning bureaucracy, easily duped humans and an uninterrupted supply of resources, this system is entirely sustainable?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-48417897520788006432008-11-22T16:19:00.000+13:002008-11-22T16:19:00.000+13:00The Schiff footage is stunning.The Schiff footage is stunning.Unknownhttps://www.blogger.com/profile/07707604974739887751noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-60401157685454703712008-11-22T15:53:00.000+13:002008-11-22T15:53:00.000+13:00Watching that Peter S video is a surreal experienc...Watching that Peter S video is a surreal experience.<BR/><BR/>Some of these so-called-experts have become completly divorced from fundamental economic realities.Seanhttps://www.blogger.com/profile/10510709497077490801noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-84176240309669035232008-11-22T13:33:00.000+13:002008-11-22T13:33:00.000+13:00I think it's a common fallacy that gold rises in t...I think it's a common fallacy that gold rises in times of crises. It doesn't. It's not a good investment in the sense that it increases a lot of value. But it's good in times of uncertainty to retain what you've got. And have no worries, being able to convert to cash at any time without having to take a devastating loss.Berend de Boerhttps://www.blogger.com/profile/11433622686361556089noreply@blogger.com