No. The words have meaning. They just have different meaning from what we think they mean.
Read more ...
Schiff is a realist. I, on the other hand, am an optimist.
My first reaction was no doubt just like yours: Rand has sold out! No, he hasn’t. He’s much more of a pragmatist than his father, and thinks he can accomplish more in the freedom fight from the inside.
The rule of logic in Washington, especially at the Fed, is this: if something isn’t working, the solution is to do more of it! QE1 and QE2 didn’t do anything but strike fear and uncertainty into the hearts of capitalists who as a result have little interest in making long-term decisions. So, what’s the answer? QE3! That’s the ticket! It’ll work this time, you betcha’.
Further confirmation came from the Conference Board which reported Consumer Confidence declined sharply in December despite those “experts” predicting an increase.
Reich appears to have all the credentials for knowing what he is talking about: degrees from Dartmouth College, Yale Law School, and a Rhodes Scholarship to Oxford University. An early indicator that something might be wrong with his thinking, however, was revealed in his blog in April, 2008, when he publicly announced his support for Obama in the presidential election.
The unremitting flow of negative news about the economy has finally caught the attention of the mainstream media, causing an increasing number of economists to make comparisons between today’s recession and the Great Depression
Pew Research recently polled Americans about ways to bring state budgets into balance and found that respondents did not like any of the options. In its Congressional Connection poll released June 28, Pew Research asked if a federal bailout of financially troubled states should be considered. Barely one in four said yes. Nearly 60 percent said no, that the states should take care of their problems on their own.
When the House passed the 2,319-page Dodd-Frank financial reform bill by a vote of 237-192, all it did was confirm for many the extraordinary hubris of legislators believing they could in fact “fix” the problems they themselves created which resulted in the Great Recession of 2008.
There is certainly plenty of blame to go around, and it looks like there will be criminal charges filed too. The biggest lie, however, wasn’t mentioned: