Perry throws in the towel

[Charles]

Originally Posted by David Newman

Gotta take the shots when they present themselves. Had I known then what I know now about economics, I would have pursued a degree in economics. It's a relatively recent interest of mine.

I became interested in economics several years ago after I discovered Comprehensive Annual Financial Reports (CAFR), which are hidden in plain sight. Try to get someone who is familiar with them to talk about them.

That, and whenever I became aware of the fact that the Federal Reserve has about as much in common with the government as Federal Pacific.

FYI, if you have a Federal Pacific service panel in your house, it needs to be replaced. FP faked their data to get a UL listing, and have since been decertified. They are a known fire hazard. So much for my good deed for the day. I'm also making a less than sly comment about fraudulent behavior.

Anyhoo, I know why the nation cannot retire it's debt, and also understand why we are unable to return to specie.

I'm not as down on the Austrian School as you, but also not as enthusiastic about the Keynesian School as well. Both have their limits, IMHO.

And while fiat currency makes the big wheel go 'round, not to mention it's the only game in town...I can't help but feel like a sucker whenever I trade the sweat of my brow for a piece of paper with a number written on it. Especially when it's value can be altered by those who I have little to no control over.

I do know one thing. If you write an IOU in a poker game and can't cover it, you're gonna leave wearing a barrel, it you leave at all.

Unless you're dealing with a bunch of dolts who will accept your script with good faith. All you have to do then is add enough zeros to it until you can buy every hand.

Perhaps not the perfect analogy, but it's close enough for government work.

Chas

BTW: Watch out for Finn, he has either a BA or MA in economics...and he holds his cards close to his vest.