Stock market update
- By heckmans
- Penn State Football
- 83 Replies
The whole thing more and more resembles a gigantic Ponzi Scheme. It can only hold together as long as the dollar continues to be the world's reserve currency, which has been the case since the end of World War II.
But the world is changing and global order is shifting due in part to disastrous blunders on the part of our own government. And honestly, though I have very strong political convictions, the blindness in Washington has been a bipartisan affair.
In any case, this is why I said it will only take one big crisis to bring what has become a badly out-of-wack system to its knees. And when you look at the situation in the world today, it's not hard to see more than one potential candidate for such a crisis.
Totally agree. Politicians on both sides are mostly concerned with maintaining their incumbency. This means not rocking the boat, not making tough choices and continuing to spend money we don't have.
The ironic part is that we have people who complain about things like campaign finance and lobbying and then the same people demand that we give more power to the federal government. 50 years ago, nobody in business paid much attention to Washington DC. Today however, has the Feds have taking more control from the states, lobbying is a matter of survival for many companies.
Money follows power. You cannot simultaneously demand that more power be centralized to DC and then complain about the money that follows. This was the whole point of the Constitution and keeping power in the states with enumerated powers that limited Federal scope. Whenever anyone complains about money in politics, welcome them to the Libertarian party and tell them that they should be voting for whichever candidate wants the smallest Federal Government. Remove the power and the money will disappear.