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Flash wrote:
"Gig 601Xl Builder" wrote in message
...
wrote:
To All:

I got a couple of messages from fellows who did not agree with my
opinion of the effect the bail-out would have. I recommended they
read:

http://www.usagold.com/germannightmare.html

Those who fail to learn from history are destined to repeat it.

-R.S.Hoover
I've got a degree in Economics and I don't have a clue how this is going
to all shake out. Mainly because what this really is is the largest
nationalization of private enterprise in the history of man.

To make it worse it is being done by the largest economy in history at a
time when the world's economies are more tied to each other than ever
before.

Nobody from Alan Greenspan to a bum on the street can really tell you
with any degree of certainty how this will effect the US and the World in
the long term. They don't have computer models for this.

Anyone from either side of the political spectrum that says they know what
will happen is full of crap.



OK, Gig, we are in agreement.......

You have a degree in economics (I do not) but, we agree, neither of us have
a clue....

That this manuver is gigantic, and historic, is also agreed.

Asking Alan Greenspan OR the bum on the street will only get you opinion,
won't it? One might be "educated opinion", but nevertheless, opinion - not
divine prescience. And do we HAVE to have a computer model before we can
make a rational thought or concious act?

Well, when you are going do do something that will have a huge and very
long lasting impact on the state of the world it ain't a bad idea to
have at least a wild guess as to the outcome.

This plan was thought up in less time than I spent mounting my prop this
weekend. On Monday the 15th a conference call was held among the Fed,
AIG and several banks. At that time the Fed said there would be know
bail-out. That changed by the next day. How much time does that leave
for a rational thought or conscious act to be rationally thought out?



As for asking politicians for advice, their opinions, or a true glimpse of
the future, we will both agree again, is pointless.

Pointless but the only option because if you read section 8 of the
proposed law you will find this little gem.

“Decisions by the Secretary pursuant to the authority of this Act are
non-reviewable and committed to agency discretion, and may not be
reviewed by any court of law or any administrative agency.”



So me, I'm going to consult the tea leaves, look carefully at the wooly-bear
caterpillars, and count the fur in the tails of the grey-squirrels I shoot
when small-game season opens next month. Then I'll probably go buy a pound
of small-denomination silver coins as my "hedge against inflation", although
buying gold probably would be a bettr choice.

I remember my uncle telling me that when his unit rolled through Germany in
the final stages of WW II, that black pepper had been selling for its equal
weight in gold on the civilian market.

Flash

Who knows, we may look back on life in Germany FOR GERMANs in the final
stages of WWII and think of them as the good times.

But that is the point we don't know.