Comments on: How to Avoid Another Depression

By: David Stowell

David Stowell — Sun, 21 Sep 2008 16:23:26 +0000

The unfortunate truth is that human greed is boundless and we have seen that characteristic of human nature become predominant in our society. Perhaps a “silver lining” of the coming economic disaster will be our realization that a society that values monetary wealth over all is
not a functioning society at all, merely the pretense of one.

By: Patrick Barron

Patrick Barron — Fri, 12 Sep 2008 17:31:24 +0000

There is no one in a position of power, either inside or outside government, who proposes doing anything that will put America’s financial system on the road to recovery. Our monetary system is being destroyed by each government intervention. Furthermore, our citizenry seem prepared to sacrifice their freedoms rather than tolerate any reduction in their so-called entitlements, from Social Security to Medicare.

By: Charles Landesman

Charles Landesman — Thu, 11 Sep 2008 09:53:39 +0000

The articles my Thornton and Rockwell present us with a crucial experiment. If their theories are correct, then we should soon be confronted with something like the great depression. If, on the other, hand, the economy recovers without a great depression, then their theories are mistaken and need to be revised.

By: Charles Landesman

Charles Landesman — Thu, 11 Sep 2008 09:48:30 +0000

The articles by Thornton and Rockwell present us with an experimental situation. If they are correct, then the recent interventions should produce something like the great depression. If, on the other hand, the economy tends to recover and not fall backwards in the next couple of years, then their claims are mistaken and the theories need to be revised.

By: Walt D.

Walt D. — Wed, 10 Sep 2008 13:24:31 +0000

This has got to make the FED jealous!
It is the final humiliation for Zimbabwe’s battered currency, which was worth more than the US greenback at independence in 1980.
Even after two revaluations that have knocked a total of 13 zeros off it, it was trading on the black market on Wednesday at around 6,000 to the USD â€“ or 60,000,000,000,000,000 to one in terms of the original Zimbabwe dollar.

By: Paul

Paul — Wed, 10 Sep 2008 13:07:13 +0000

I think a depression is unavoidable, considering the gigantic asset & debt bubbles (derivatives being one of them) that took decades to form. It’s not if, but when. And I think the “when” is just around the corner. Libertarians from even 30 years ago were alarming the public about this. I have a book written by Doug Casey in 1980 predicting an economic collapse because of large government debt and the real estate bubble. Big back then but enormous today.

The one thing we do have control over is not making a depression worse. Don’t fight it and let it do it’s thing. Of course, based on past history, we know that politicians aren’t about to sit still.

By: Al

Al — Wed, 10 Sep 2008 08:34:15 +0000

I like comparing this article to The Nation’s, http://www.thenation.com/doc/20080922/howl2.

I like Thornton’s recommendations better, though.

By: Curt Howland

Curt Howland — Wed, 10 Sep 2008 07:35:29 +0000

Right you are, Fephisto. In a couple of months we will be able to look at that last sentence and know that it’s a list of all the things Leviathan is _NOT_ going to do.

Re-elect Martin van Buren!

By: Fephisto

Fephisto — Wed, 10 Sep 2008 06:31:42 +0000

“To reduce the negative impact of the recession, government should cease foreign hostilities, reduce military spending, balance the budget, and cut taxes and regulations.”

Don’t forget that pigs should fly.