posted on Dec, 7 2010 @ 10:52 PM
I personally would. I think there NEEDS to be a crash in order to restore any confidence in realistic markets.
I was extremely annoyed to see an extension of unemployment benefits, as this will cause the hoi polloi to continue to spend money without thinking
about their future needs, thus inflating corporate earnings. This spending will keep stocks high.
We need to accept a new status quo: idiots are not guaranteed jobs. You cannot just press buttons and expect 80k a year plus great benefits. You have
to actually provide something to society.
I realize this will not resonate with some people that post here, but the reality is we cannot continue to forever support those who do not contribute
anything. Those who do not contribute to the economy need to eventually realize that maybe 40k a year is not as bad as they think.
I am of the personal belief that our high employment is unsustainable In ancient Rome unemployment was at a much higher rate (some estimate 50%). If
we assume a steady state of 15%, that is definite progress compared to less sophisticated times.
Also, people need to accept that we are not going back to a gold standard. That is a ridiculous idea that would transfer power to people who have gold
ie the government will not control the money supply. Control of money is control of power. As a result, gold cannot come back.
This is a rant. I would love comments.