Reisman is correct – the Austrians have it nailed, again.
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And so has Ms Rand, although we really can’t thank her in a meaningful way…
OK, for those of you who really want (or need) to know what has happened in our financial system, please read Dr. Reisman’s (professor emeritus, Pepperdine U.) piece from August 10th.
Particularly those of you who happen to sit on school boards in Hudson or New Richmond. Please pay close attention to the meaning of A is A… Since all of you were too stupid to see what was happening in the early portion of this decade, and to the warnings of several writers on this very blog site, perhaps now you will take the time to learn what that theorem actually means. Am I being a tad cryptic? Sorry, but I still have a hard time dealing with government types who can’t see past the end of their government paid hallways…
It’s pretty obvious what is going on here, and personally I think his radical suggestion at the end of his article is not radical at all… Of course, I would also add to his recommendation a return to “the vision” of our founding but that is a chat for another day.
Once again, the Austrians are shown to be unequivocally correct.
No related posts.
And Reisman’s predicted Fed response was validated today…. More money IS going to be injected into the system.
Hold on for the roller coaster folks, this could be a hum dinger (time line 18 to 24 months).
Oh my, and now we have Countrywide doing EXACTLY as Reisman described would be the response of mortgage lenders.
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Folks, just so you understand, there is no safe haven for money right now because it has been so manipulated. When you read Reisman’s article please pay close attention to his differentiation between credit crunches of the past and the current crunch – the current credit crunch has manifested into the consumer/home lending arena. Which portends, to me anyway, that all asset classes (with the possible exception of gold) are in deep doo-doo right now.
Hmmm, seems to me there was an article written out here some time ago… Something about the Fed and a Pickle.
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Oh, is that my watch? Yup. Gotta go, good luck to all you beggars and suckers out there.