Wednesday, November 10, 2010

Getting Hopeful

People in the blogosphere seem to be waking up and taking an active interest in government. Many writers are talking about the FED. Worldwide, political and business leaders are taking notice. They are no longer sitting idly by. They are expressing their thoughts. So are run of the mill citizens. Like me.

I see this as a very hopeful sign. Because the first issue in solving a problem- is recognizing that you have a problem. For the past two years, government and the FED have done everything in their imaginations to bullshit the American people into thinking there is no problem and that they can fix this. Green shoots, recovery summer, manipulated BLS figs, and now even a FED member has admitted that the FED is artificially ramping up the stock market. It's like they are fixing gravity. It's bullshit. And the last two things a fearful government has is bullshit and the last resort- brute force.

Galileo was one of those dudes. He found himself in front of a fearful government. It didn't matter that the Catholic Church and the state persecuted him- jailed him in his own house- it did not change the facts.

Truth and acceptance is starting to happen in the US. The louder knowledgeable and credible people speak out, the quicker we can accept that we have a serious structural problem. A structural problem that will not go away or get better by ignoring it or lying about it to the public. Or throwing make believe money at it.

Here is a great clip that explains the mysteries of QE2. A very calming and sensible explanation. Disturbing only in that QE2 really is just confusing, distorting, and likely will have no impact whatsoever. Swapping yields. Whoopee. It's worth the read.

Late addition. More hope.

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