Comments on: Bubble Economics – Don’t Panic

By: Shaun Snapp

Shaun Snapp — Fri, 24 Oct 2008 08:40:08 +0000

Yes, as Mike pointed out, Reagan may have had a vision of small government, but it was as small government for ordinary people. Reagan believed in and implemented a very big government for concentrated power. There was nothing really “great” about Reagan, it is all mythology. Look at his record. He had the largest budget deficits in history until Bush 2 took office. He helped set in motion the deregulation that has reduced standards and lead to this financial bust. Furthermore, this deregulation has effected quality in everything from the FDA to trucking safety as well. One cannot on one hand praise Reagan, while denigrating Bush, as they are too similar to notice any significant contrast.

Even speaking about a vision of Reagan is not logical. Reagan was an ex-actor who climbed to power by doing what he was told. He was elected to the screen actor’s guild because he did what Lew Wasserman told him he received a steady stream of movie roles through Wasserman’s MCA. He wore a fake cowboy hat and was photographed walking around his “ranch” with a chainsaw doing yard work. He and was a media construction. He could not read complicated material, quoted the Reader’s Digest as CIA material, had a child’s understanding of the economy and of science (recall the Star Wars Program?), and had his “mommie” schedule meetings based upon astrological timing. I say lets get real about who Reagan was and what he did and not rely upon mythology created by PR firms or an uncritical media.

By: Mike Brotherton

Mike Brotherton — Fri, 03 Oct 2008 03:19:18 +0000

To be fair, Reagan spent money like crazy and cut taxes, too, and it was a problem (recession in the late 80s, early 90s). Dems are going to win and win big. Things should improve in the short term, although control of the white house and congress both may let the Dems spend unfettered, too.

I’m not watching my portfolio — I’m young and want to be in for the big up days. I am enjoying the effect on the exchange rate recently as the money moves from stocks to cash.

By: Tom

Tom — Thu, 02 Oct 2008 12:36:10 +0000

I liked the two charts, and looks like an interested potential correlation, but the article is not deep, and does not reflect any real analysis of the situation. In particular, the basis measures of money supply show that it has not been growing faster than the economy. And the biggest contributor to this mess is likely Clinton and the democratic congres, who, through the Community Reinvestment Act (“CRA”), pushed banks to grant mortgages to borrowers who could not afford them for the sake of increasing home ownership, combined with senators like Dodd and Obama who were receiving substantial contributions from Freddie and Fanny, while the latte were permitted to become overleveraged. Reforms, including those requested by McCain, were blocked by the Democratic Congress, along with some complicit Republicans, who “were on Freddie and Fannies payroll.” Big, irresponsible government that cannot see past the next vote, or to recognize the unintended consequences of their “well meaning” policies, is the cause and the problem.

By: Matt

Matt — Thu, 02 Oct 2008 03:34:17 +0000

Rob,
Great article and I definitely feel your pain and frustration. You have to realize that we are being governed by a higher order called the Bilderberg Group (must read book called the “The Bilderberg Group” by Daniel Estulin). This is a group of the elite such as the Rothchilds, Rockerfellers, and many government officials like the Clintons, Bush’s, Kennedy’s, Kissinger, JP Morgan, Warren Buffett, Kings, Queens, Prince Charles, Albright, Feldstein, Bernanke, Greenspan, Paulson, Condi Rice and so on… They control or are involved in all Central Banks including the US Fed Reserve. The CFR, Trilateral Commission, and the Club of Rome are the wealth behind the United Nations. The United Nations ultimate goal is to create a global society which consists of 1 World Government, 1 World Currency, 1 World Religion and take control of all natural resources and a universal education system. The way the U.N. accomplishes this feat is to devalue all currencies so that we have no choice but to create a world currency (Great article from today: http://www.washtimes.com/news/2008/oct/01/foreign-economists-prod-us-on-global-plan/ ). Read Obama’s “Global Poverty Act S-Bill 2433″ that was just passed this July and the U.N. Millennium Plan (If you think you are scared now wait until you read these bills). You could also google John McCain’s “League of Democracies”. Please don’t think this is conspiracy theory until you read at least the U.N. Millennium Plan. You will begin to see that everything that has happened over the last 100 years is by no ACCIDENT or incompetent leaders. Another great read is “The Creature from Jekyll Island” which explains the creation of the Federal Reserve where this really all began. It all has been done for a specific purpose!!! Socialism will PREVAIL. We are SCREWED!!!

By: smith

smith — Thu, 02 Oct 2008 02:18:58 +0000

take a look a this guys web site http://www.chrismartenson.com the crash course…..

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The Crash Course is a condensed online version of Chris Martenson’s “End of Money” seminar. The first chapters of the Crash Course are already available; additional chapters will be added as quickly as time allows. Watch the Breaking News page to find out when new chapters are posted.

By: Shogan

Shogan — Tue, 30 Sep 2008 17:55:07 +0000

I agree completely. It’s absolutely astonishing that no one representing us, or our country, has even the slightest understanding of what’s taken place. Infact the more I see the more I think they are not even capable of understanding the questions much less the answers. Many of todays online service people can read script with more conviction than what I’m seeing from our representatives.

To say that I am in fear of the future is an understatement.

By: Rob Cheng on Bubble Economics | Code and Coffee

Rob Cheng on Bubble Economics | Code and Coffee — Tue, 30 Sep 2008 17:52:55 +0000

[...] out link to something. However, in the state of panic that seems to be consuming a lot of people I am linking to Rob Cheng’s article about Bubble Economics. It is a very good, in-depth, well through out and researched article. Worth the [...]

By: Matthew R. Miller

Matthew R. Miller — Tue, 30 Sep 2008 17:49:47 +0000

Very good write up as always, very in depth. I value articles like this that clearly took a lot of time and research to write. I will link to this article.