Friday, December 26, 2008

To spend or not to spend...

The above video is a montage of folks who saw the current recession/depression coming.

Meanwhile, mainstream economic "experts" (Keynsian) are emphatic that our current economic malaise can be fixed by just spending money. Columnist Karen De Coster has a provocative essay on the cultural implications of the borrow-and-spend mentality even as the bubble is bursting.

And here is a stunning reminder of the power of frugality, delayed gratification, and the giving of oneself as opposed to consumerism.

By contrast, the same economic "experts" (who believe we can spend our way to prosperity) in government have given us the biggest Ponzi scheme of all, based on spending as opposed to saving - and then having the nerve to call it "social security." And here is proof that the Ponzi scheme runs deeper than Social Security right to the very heart of the American economic system.

However, Citigroup tacitly admits that gold could rise above $2,000 next year - which doesn't reflect sudden demand for fancy jewelry, but rather the diminishing value of the "dollar" (which really means "Federal Reserve Notes" backed by hot air, a belief in the "philosopher's stone," and desperate hopes that people will keep spending their way to prosperity.

One can only wonder if these Keynsian economists really believe their own propaganda. How can they? It's pure insanity.

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