November 13th, 2009


Sparking a Populist Revolt

I like this article.

Sparking a Populist Revolt Against the Billionaire Bailout Society
Talk to your neighbors and you can sense how angry they are about the rich gaining ever more wealth during the Great Recession. They understand that the bailout money — our tax dollars — went to the largest financial institutions in the world which had caused the crisis in the first place. They sense that the middle class is getting screwed yet again.</p>

What a teachable moment! But what are we teaching?

I am especially fond of this proposal:
Break up all institutions that are too big too fail so that they are small enough to fail.

It Runs in the Family...

My uncle, John Barrette, is a writer too. He handles politics and current events and stuff like that. Today he tipped me to one of his recent articles about economics. Some points I agree with, others I disagree with ... my favorite is that having a hard currency, such as gold, is a good idea. The farther money gets from reality, the easier it is to create huge amounts of trouble.

It’s the gold standard, stupid
The federal government now serves as pusher/dealer for the nation’s drug of choice: money. We’re all addicted to it. Alcohol, pills and illegal substances pale by comparison.</p>

We kept mainlining money after World War II, the war that pulled us out of the long Great Depression (not, as the liberal litany claims, President Franklin D. Roosevelt’s alphabet soup agencies and deficit spending). Now we’re going through withdrawal pains.

It makes no sense for the pusher/dealer also to serve as doctor in fighting this addiction, but to steal a tagline from the late Walter Cronkite: “That’s the way it is.”