The word ‘Bubble’ is brought to you by the letter ‘B’.
These are the words of an anonymous critic on my facebook stream, confident that gold is in a bubble destined for collapse. I have taken to occasionally posting the spot gold price to keep it in my readers’ consciousness. My most recent post drew criticism for expressing continued support for gold despite its $375, 20% tumble of late September, 2011. My critic continued:
Havent you learned your bubble 101 from the 08 collapse? … Not quite sure your metal motivation, but it is obviously a freight train that cannot be stopped.
My critic studied business, works in finance, and follows the stock market. I studied mathematics and I’m a lawyer. I have no formal training in either economics or finance. I do not follow the stock market. Yet, I have positioned myself so that I must justify my continued support for gold. Have I learned my bubble 101 from the 2008 collapse? You tell me. Read the rest of this entry »
One way to stimulate an economy is to get your foot off of it’s neck.
It is a crime, work? So I guess I’m a criminal. It is a crime to be working. lol.
I’m glad this point of view is getting out there. On one hand, I can see how the gold standard would constrain a growing economy. On the other hand, no, I don’t trust those people with the printing press.
- World Socialist Party (US) | Making Bread
Daryl Larson, who farms 1,500 acres in Kansas sold nearly half of his wheat crop but will keep the rest in the silo in the expectation that the prices will at least climb further. Most analysts would concur with Mr Larson’s strategy of holding on to some grain for added profit. The [Socialist Party of Great Britain] only asks: why do some in this world face destitution and hunger, while others hoard food to obtain higher profits?
Farm subsidies complicate the issue, but the simple answer is: Daryl Larson, the producer of the food, has the perfect right to do anything he pleases with it. He was under no obligation to make the food. Similarly, he is under no obligation to distribute the food. If Mr. Larson were forced to sell his grain at prices he did find agreeable, he probably not stay in the wheat business for very long.
If we added farm subsidies into the mix, then, depending on why the subsidies were paid in the first place, there could be a basis upon which to demand that Mr. Larson make some concessions to taxpayers….
- AFL-CIO NOW BLOG | Public to Lawmakers: Tax the Rich1) Aren’t you glad that the public has no authority to confiscate and redistribute your private property?? 2)Never trust anyone who classifies tax cuts as ‘spending’. 3) This article quotes labor secretary Robert Reich who believes that the ‘fundamental cause’ of the financial crisis is wealth disparity. If not for wealth disparity, the argument goes, Americans would not have needed to borrow so much. I’ve never heard this one before… Read the rest of this entry »