Weekend Show – Sat 4 Aug, 2012

Investing and a Little Bit About Political Correctness

Click download link to listen on this device: Download Show

In this show Al discusses:


Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show


Featuring:
Al KorelinPeter GrandichRoger WiegandJordan GoodmanJeff DeistSteve Taylor
Dan Pisenti
View related posts on:

Comments:
  1. On August 4, 2012 at 5:28 am,
    Bobby says:

    Al,
    I am a bit confused with your stance on real estate and conversation with Steve Taylor regarding Jordon Goodman. Jordon made NO reference to buying rental real estate for CASH, if fact he was pushing leveraged loans including ARMs. One statement that he made was “let the tenants pay off your mortgage” . You also mention that you have 25% of your assets in real estate….keep in mind that your home is not an investment! One thing that I never hear you or your guests mention is property management, this cost is 7% of your income for a good manager. I am happy to hear you mention HOAs , but dont forget taxes, insurance, maintenance, deprecaiation and downtime between rental as well as renters who fail to pay. If you think you do not need a property manager you are only fooling yourself. Also saying that real estate prices have to go up is simply not true. Don’t get me wrong, I am not opposed to real estate as an investment, but now in 95% of the cases is not the time and advising people to buy and saying prices have to go up is wrong. Alluding that anyone can be a landlord is as well. I also do not understand why you choose MSM real estate analists and Keynesians as your guests (I know we need to listen to all but it seems like you agree with everyone?)

    • On August 4, 2012 at 1:30 pm,
      AlKorelink says:

      Hi Bobby,

      What not sure what were gonna do with all our property

      • On August 4, 2012 at 2:30 pm,
        Bobby says:

        Al,
        Start by computing the Cap Rate.

    • On August 4, 2012 at 8:47 pm,
      Jerry O^OTB says:

      ditto….Bobby……I agree ……Are these guest involved in any big scale real estate, or do they just like to pretend they are experts….

      • On August 5, 2012 at 4:40 am,
        Bobby says:

        I think that they work for the NAR.

    • On August 5, 2012 at 11:06 am,
      Tex says:

      I too noted the contradictions in the presentations between Taylor and Goodman and agree with your points in full.

  2. On August 4, 2012 at 6:30 am,
    Dennis M. O'Neil says:

    Comment after listening to the first segment.

    Political correctness is the result of collectivism inability to take on criticism.
    Collectivism cannot survive a lively open debate.
    It is why Al Gore declared the debate on global warming was over before one even started. There is no logic in collectivism. It is a faith based political theory which dupes people to believe Utopia can exist. Post Garden of Eden Utopia is unobtainable in the realm of human nature.

    I once again post Ludwig Von Mises summary of political correctness. He sums it up much better than I could summarize. The below paragraph literally speaks volumes.
    “Marxism protects itself against all unwelcome criticism. The enemy is not refuted: it is enough to mask him as bourgeois. Marx and Engle never tried to refute their opponents with argument. They insulted, ridiculed, derided, slandered and traduced them, and in the use of these methods their followers are not less expert. Their polemic is directed never against the argument of the opponent but always against the person. Few have been able to withstand such tactics. Few indeed have been courageous enough to oppose Socialism with that remorseless criticism which it is the only duty of the Scientific to apply to every subject of inquiry. Only thus is it to be explained the fact that supporters and opponents of Socialism have unquestionably obeyed the prohibition which Marxism has laid on any closer discussion of the economic and social conditions of the Socialist community. Marxism declares on the one hand that the socialization of the means of production is the end towards which economic evolution leads with inevitability of natural law; on the other hand it represents such socialization as the aim of its political effort. In this way he expounded the first principal of socialist organization. The purpose of the prohibition to study the working of the socialist community, which was justified by a series of threadbare arguments, was really intended to prevent the weakness of Marxist doctrines from coming to light in discussions regarding the creation of a practicable socialist society. A clear exposition of the nature of socialist society might have damped the enthusiasm of the masses, who sought in Socialism salvation from all earthly ills. The successful suppression of these dangerous inquiries, which had brought about the downfall of all other socialist theories, was one of Marx’s most skilful tactical moves. Only because people were not allowed to talk or to think about the nature of the socialist community was Socialism able to become the dominant political movement of the late nineteenth and early twentieth centuries.”

    Von Mises, Ludwig, Socialism, An Economic and Sociological Analysis, Translation J. Kahane. 1951

    • On August 5, 2012 at 10:13 am,
      Pietre says:

      Greetings Dennis. Was John Locke a “collectivist?” How about Hobbes and Mill? GLTU.

    • On February 2, 2014 at 11:52 pm,
      Corazon says:

      Yeah, if you think about the context of the story, by not enimilating the building you are potentially risking the entire world? I know it’s cold but that’s something you can’t risk on a “maybe”. Dennis

  3. On August 4, 2012 at 6:35 am,
    Richard says:

    Bobby, a lot of your points are well taken. One of my past businesses was rental real estate. Like any investment you just don’t go out and buy and everything is fine. Fortunately, I did well and I sold my last major rental (100 units) in about 2006 just before the “crunch”. My timing couldn’t have been better. I still own some real estate but it’s minimal. Would I get back into it? Absolutely not. My main reason is age and I don’t need the hassle any longer. Is it a great environment for real estate right now. It depends on where you live and the location of your investment. It depends on how well you work a deal. Those are probably the most important aspects of investing in real estate. If I was younger I would be looking at real estate again but I would be EXTREMELY careful and as mentioned would be very selective about where I bought and would drive a very hard bargain. It’s a buyer’s market and if you don’t get a property that financially is favorable to you and on your terms you better walk away. I might add I never managed my own properties and always had property managers. Of course that expense was always included in my proforma in order to delineate the ultimate price I was willing to pay for a property. Even if you were to manage the property you should put that expense along with other expenses into projected costs of running a property.

  4. On August 4, 2012 at 6:37 am,
    MissiveDuTexas says:

    Al.

    I understand you`ve had a long relationship with the Paul organization, but at this point, those who thought they would fight the good fight and not be absorbed by the borg have their doubt.

    That may be a good thing, as we now turn from the national pulpit to local influence, the essence of a bottom up movement. Therefore, can I make a request to have liberty minded candidate to the House of Representatives? The house holds the purse strings, that is where we need to bring the fight first.

    Am about to listen to the whole show, will surely be back here commenting today.

  5. On August 4, 2012 at 6:40 am,
    Richard says:

    Al, again I agree with TR on one of his points. As mentioned in some of my posts in the last 2 weeks, I’m starting to acquire certain juniors and the GDXJ. I like what I’m seeing particularly on the GDXJ. It appears to be in a bottoming period.

  6. On August 4, 2012 at 7:58 am,
    Dennis M. O'Neil says:

    I understand the political nature of the Jeff Deist comments about the necessity to ‘wind down Social Security’. Allowing for winners and losers and gradually providing ‘opt outs’ for certain ages. In order to end the fraud the crime needs to continue not because of the program’s merits but because of votes.
    Social Security has been more harmful to the citizens of The United States than any program or assault launched by an enemy. It is a self-inflicted wound. It caused once independent self-reliant populace to take their eyes off the task at hand and look to Washington for answers. It caused a circling of the wagons around the ‘third rail of politics’ because older people vote. It caused a once economic savvy savings based culture to look the other way when the programs coffers were stripped bare and spent on this road and that bridge. It caused a populace to accept debt, deficits and promises as being more valuable than truth. When we ask ourselves in the future “How did we arrive at such a place?”….assuming a truthful history is allowed to written and read….Social Security will be pointed to as the beginning of the end. A tool The Federal Reserve used to engage in monetary mayhem. Social Security provided the curtain behind which we were not supposed to see all the fraudulent levers being pulled. It is difficult to look past your own self-interest sometimes. Look what the fraud has in store for me! I disagree with winding it down. It would be like a vice squad busting up whore house and allowing the ‘ladies’ to finish.
    If you see social security for what it is it should end.
    I understand the politics of winding it down but that is the equivalent of letting the ladies finish up before you haul them away to jail

    • On August 4, 2012 at 10:21 am,
      MissiveDuTexas says:

      Dennis – Amazing to me anyone would turn their attention towards social security, where money was forcefully taken from the people to bankroll the scam, instead of the trillions given to banks, the military industrial complex, and now the pharmaceutical and agricultural complexes as well. That is where we need to remove government first.

      You stop a boat from sinking by plugging the bigger holes first.

      • On August 4, 2012 at 10:56 am,
        Dennis M. O'Neil says:

        I hear your complaint. But I stand by my point that Social Security “Insurance” was the
        proverbial camel’s nose under the tent. It could be argued that 1913 with The Federal Reserve Act or the 16th amendment were first in time….but it was Social Security that seduced a once proud people that government can make everything better.
        When people defend a legalized Ponzi scheme just long enough until get theirs they become the fraud. There is the rub a once innocent proud work ethic charitable society becomes accomplices.
        Follow the below link missive…Benjamin Braddock was America and he was being seduced by more than just Mrs. Robinson……
        http://www.youtube.com/watch?v=FC6gOhnDDLo&feature=related

        • On August 4, 2012 at 12:31 pm,
          MissiveDuTexas says:

          Ok, well, keep plugging pin holes and let me know if the boat will be saved.

          • On August 4, 2012 at 12:47 pm,
            Dennis M. O'Neil says:

            What I am saying is….before there was the first hole…there was a weakened hull.
            Social security undermined the entire hull.
            From there you arrive at a point…I do not care General Dynamics is enjoying no bid contracts…as long as I get my pittance.
            It goes back to building on rock or sand.
            Social Security moved the United States’ foundation onto the sand.

          • On August 4, 2012 at 4:54 pm,
            MissiveDuTexas says:

            If you`ve paid all your active life into the pittance bank, I hope there`s a way one can get his or her share.

            Fraudsterity will never solve the problem. Look at Greece, Spain, Ireland… wherever the IMF plans are implemented (austerity and privatisations), the middle class disappears.

            Perkins writes that his economic projections cooked the books Enron-style to convince foreign governments to accept billions of dollars of loans from the World Bank and other institutions to build dams, airports, electric grids, and other infrastructure he knew they couldn’t afford. The loans were given on condition that construction and engineering contracts went to U.S. companies. Often, the money would simply be transferred from one bank account in Washington, D.C., to another one in New York or San Francisco. The deals were smoothed over with bribes for foreign officials, but it was the taxpayers in the foreign countries who had to pay back the loans. When their governments couldn’t do so, as was often the case, the U.S. or its henchmen at the World Bank or International Monetary Fund would step in and essentially place the country in trusteeship, dictating everything from its spending budget to security agreements and even its United Nations votes. It was, Perkins writes, a clever way for the U.S. to expand its “empire” at the expense of Third World citizens.

            http://www.amazon.com/Confessions-Economic-Hit-John-Perkins/dp/0452287081/ref=sr_1_1?ie=UTF8&qid=1344124244&sr=8-1&keywords=Confessions+of+an+Economic+Hitman

          • On August 4, 2012 at 5:19 pm,
            Dennis M. O'Neil says:

            Missive,
            Social Security was sold to the public as “insurance” as a “”trust”.
            It was approved by the court only as a tax.
            All the illusion about and “personal account” as making a deposit in a bank has only allowed the fraud to prosper.
            Do you remember the ponzi frauds in college….I am the Pilot…you are the Co-Pilot..you recruit passengers…pay me the Pilot….I parachutte away and you become the pilot…..there is no differnce to this scheme with the only possible exception Social Security is a Ponzi Scheme with government sanction.
            When the Supreme Court approves Social Security on the basis of it being a tax it placed all the payees on notice that taxes collected would be spent. Sometimes taxes are spent on things for which they were not collected. This has been the case with Social Security. Generations have paid a “legal tax”. They watched the collected tax spent on other things. They sat in awe as Neal Armstrong stepped on the moon. They scurried across fresh interstates towing campers…they watched in horror a helicopter successive wushes deliverd Vietnam casualties….they voted for politicians who expanded Social Security into welfare…they saw all their lives their taxes being misappropriated. and now they want an insurance payment that from day one was ruled by the Court not to be insurance but it was a tax.
            Bottom line is the Pilot is the only winner. Finally, it is not a noble thing to bailout on your grandchildren.
            No time to proof..hope it makes sense.

          • On August 5, 2012 at 6:48 am,
            MissiveDuTexas says:

            Fine, Dennis.

            Let`s just cut SS first, before any of the other scams and criminal activities the oligarchy imposes, and let`s call it justice.

            Does that work for you?

          • On August 5, 2012 at 7:18 am,
            Jerry O^OTB says:

            oh no…..don’t cut ssi…..all my friends will have to go on welfare….(ha, ha)

          • On August 5, 2012 at 7:44 am,
            Dennis M. O'Neil says:

            I realize my position on SS is not popular.
            I realize it is not practical for seniors to digest.
            But not being convenient does not make it any less true.
            SS began the process of making Americans dependent.
            If you are running for office and need votes you cannot speak of this fact.
            If you made an investment with Bernie Madoff and were swindled you exercised poor judgment. When you exercise poor judgment you should deal with the consequences.
            Unfortunately people who want their SS that they paid into had the likes of Nancy Pelosi, Barney Frank and Maxine Waters as their own personal Bernie Madoff. Not to mention the John McCains, Lindsay Gramms and Olympia Snows of the world.
            The tax was paid, collected and misappropriated.
            Multiple generations were Bernie Maddoffwith. The Congress made off with your money.
            You payed into a lie and were swindled. Do not then demand a claw-back to be taken literally off the back of your grandchildren.

          • On August 5, 2012 at 8:05 am,
            MissiveDuTexas says:

            Like I said, Dennis.

            Let`s just cut SS first, before any of the other scams and criminal activities the oligarchy imposes, and let`s call it justice.

            From my perspective, that would show you have the courage of your conviction.

            Blaming the children for the sins of their fathers was done away when Christ took it all upon Himself. And that goes for the implementation of SS as well.

        • On August 5, 2012 at 8:57 am,
          Dennis M. O'Neil says:

          We are still paying for the sin of Adam and Eve.
          The baseness in man is due to the fact we are fallen.
          Potentially perfect but tainted with original sins.
          Unde hoc malem?
          Adam explains where evil came from.
          The redemption Jesus made available on the cross in no way provides a license to commit evil. Jesus did not sanction Social Security on Good Friday or any other day.
          If anything Jesus’ death exemplifies an overreaching unjust government taking full measure at the tip of a spear.
          King David’s lust for Bathsheba to the ultimate detriment of Uriah was not sanctioned or forgiven by Jesus.
          It is tempting to think we can do whatever we want because Jesus paid our debts in advance. Man is tempted because he has free will and has fallen. Original sin and every subsequent sin can be atoned if the redemption Jesus made available is embraced.
          This brings me to my favorite Roman poet Virgil who wrote “Tu ne cede malis, sed contra audentior ito’, which translates to ‘Do not give into evil, but fight on more bravely against it’. Do not accept even a little evil. Do not rationalize away social security as a minor thing in a sea of corruption. Social security is corrupt water making corruption ubiquitous. Like a fish does not know it was wet until it is flapping on the floor of the boat.
          I agree missive there are bigger fish to fry.
          Remember The Social Security Act brought on to its pages…disability…Medicare…Medicaid and yes opened the door for Obamacare. There may be bigger fish? But no fish has been more damaging to the American Spirit than Social Security. There the Republic can be said to have bit the apple.
          Off to Church!

          • On August 5, 2012 at 11:29 am,
            MissiveDuTexas says:

            “I agree missive there are bigger fish to fry.”

            I’m glad we can at least agree with that. And an overview of how God flags the bigger fish, we may consider Isaiah:

            1 – …5 – the whole head is sick, and the whole heart faint….

            14 Your new moons and your appointed feasts my soul hateth: they are a trouble unto me; I am weary to bear them.

            What is the first step back? Forsake commitments and justice?

            16 Wash you, make you clean; put away the evil of your doings from before mine eyes; cease to do evil;

            17 Learn to do well; seek judgment, relieve the oppressed, judge the fatherless, plead for the widow.

            18 Come now, and let us reason together, saith the Lord,,,

    • On August 5, 2012 at 11:16 am,
      Tex says:

      Now for something completely different on Social Security…..

      “Means testing” (i.e., economic discrimination) will come to Social Security and Medicare just as it has come to Veterans Benefits. An “outside the box” (and hence politically impossible) solution to the SS and Medicare issues would be to indexing these programs to life expectancy (rather than CPI). In the 1930s, life expectancy at birth for all races and both genders in the USA was 61.7, well below the 65 year old age that SS benefits started (and still do). Life expectancy now is just over 78, so how about indexing SS to life expectancy. Start benefits in the early 80s and adjust it according to age? (of course when the Affordable Health Care Act comes in the age would drop)…….

      Now back to Monty Python……

      • On August 5, 2012 at 12:39 pm,
        Dennis M. O'Neil says:

        Obamacare will decrease life expectancy thereby saving the Social Security non-existent trust fund money.
        We need people to die to save entitlements.
        Think about that!?

        • On August 5, 2012 at 2:08 pm,
          MissiveDuTexas says:

          Don`t worry, the sociopathic oligarchy has done that years ago. That is why the air, food and water contain trace amounts of toxic products which through bio-accumulation, eventually shortens people`s days on the blue ball.

          And if that is not fast enough, they can always put into action National Security Study Memorandum 200 (NSSM 200) – April 1974:

          Under Kissinger’s aegis, the National Security Council submitted the so-called National Security Study Memorandum 200 to the US President in 1974. Classified until 1989, the document bears the heading: “Implications of Worldwide Population Growth for US Security and Overseas Interests.” In it, Kissinger and his like-minded associates call for a massive reduction of the population in less developed countries: those explicitly mentioned are India, Bangladesh, Pakistan, Nigeria, Mexico, Indonesia, Brazil, the Philippines, Thailand, Egypt, Turkey, Ethiopia and Columbia.

          This plan was to be achieved by means of food scarcity, sterilisation programs and war.

          http://www.population-security.org/28-APP2.html

      • On August 5, 2012 at 2:00 pm,
        MissiveDuTexas says:

        Are you a creator of Monty Python? Cause the above idea sounds pretty monty pitonesque…

        • On August 5, 2012 at 2:14 pm,
          Dennis M. O'Neil says:

          Bring out you dead!!!!!!!!!!!Bring out your dead!!!!!!!!!!!

          • On January 31, 2014 at 7:37 pm,
            Ulla says:

            bhn ji in rachnaaon ki psshnraa ke liyen mere paas shbd hi nahin hai or tlaashne pr mil bhi nahi rahe hai fir bhi badhaai ..akhtar khan akela kota rajsthan

  7. On August 4, 2012 at 8:14 am,
    James says:

    Segment 2.

    Politicians spending money like drunken sailors is an affront to drunken sailors. Sailors spend long periods at sea working very hard with no time off, and certainly no time or anywhere to spend money like drunken sailors. When they get to port they spend the money they have already earned. So when a drunken sailor acts like a drunken sailor there is no question of the money having been borrowed or stolen from someone else. My suggestion would be to put drunken sailors in Congress and the Whitehouse.

    • On August 4, 2012 at 8:52 am,
      Marc says:

      Great, great comment – I think you couldn’t be MORE correct!!

      • On August 5, 2012 at 7:16 am,
        Jerry O^OTB says:

        Irish agrees with you on the” drunken sailor” comment….

        • On August 5, 2012 at 9:06 am,
          Dennis M. O'Neil says:

          It may be morning on the left coast but it is afternoon in Ohio.
          Cheers!

  8. On August 4, 2012 at 8:15 am,
    Shawn says:

    I have always been in favor of a two term limit for any politically elected post at any level of Government; can you imagine if The US President could be elected for more than two terms. Just imagine how badly that could turn out, and before you say it won’t happen just look at the investigations Sheriff Joe Arpaio has been conducting over the last six months. I really don’t think the people have a voice anymore.

    • On August 5, 2012 at 10:16 am,
      going down fast says:

      Term limits is often overlooked as one of the key reforms to putting the government and the country on the right track, but this would eliminate the position of career politician. It would place a greater sense of urgency on the office holders. It might get rid of some of the political paralysis and deadwood.

  9. On August 4, 2012 at 9:46 am,
    Joe Lebon says:

    I usually agree with you Al, but your discussion on outsourcing of jobs was alarmingly misguided. You seem to think it was a bad thing that American workers living standards were increasing particularly in the auto industry. Those gains filtered to workers in most other industries over time. Your solution seems to be to bring our living standard down in order to “be competitive”. I would prefer tariffs on imports and leave our living standard be. And, of course taxpayer money should be spent with American suppliers. The economic benifit through the multiplier effect are far greater than any gains through lower cost foreign sources.

  10. On August 4, 2012 at 9:50 am,
    Ann says:

    A question regarding the US employment rate.The 8.3% number?Is that the percentage of full time workers actually collecting unemployment benefits? Thanks for any replies.

    • On August 4, 2012 at 10:27 am,
      Dennis M. O'Neil says:

      The U3 8.3% figure is the currently unemployment rate per BLS which claculates people who are without jobs and they have actively looked for work within the past four weeks.
      Excluding long term and underemployed.

      The increase slight increase this reporting period has been spun as resulting from more people ‘actively looking’ because they are less discouraged. Go figure.

      An interesting experiment is to offer someone on unemployment a minumum wage job. A quick back of the envelope calculation reveals they are better off laying in bed as compared to working.

    • On August 4, 2012 at 11:07 am,
      John W. Robertson says:

      The U3 8.3% figure is the currently unemployment rate per BLS…

      I’ll be a little more direct than Dennis, Ann. I’ll remove the letter “L” from their name, and just summarize the 8.3% figure as plain BS.

      When the Bureau of Labor Statistics creates this number, all kinds of adjustments and guesses are made. Most people have better things to do, but get a large coffee and sit down for an afternoon on the BLS website and study how each U1-U6 number is created. It is very imprecise. Moreover, the way unemployment was calculated in 1983 or 1973 differs so widely from today that when we study figures from years ago, comparisons are poor.

      I really don’t know if they do it on purpose, but despite 3 website designs in the last 5 years, the BLS just can’t see to give a straight answer on unemployment, but a good primer might be found at: http://bls.gov/cps/cps_htgm.htm They come off a little too confident, but if you read carefully, you’ll see what ISN’T included in the typical unemployment rate. If you want to dig deeper, you can find definitions of each of the U1 thru U6 categories. The U6 is the only one that comes close in my mind, currently around 16%. Even that is probably low.

      • On August 4, 2012 at 2:41 pm,
        Bobby says:

        Just wondering if anyone has calculated the effect of discontinuing the final 20 week extension on unemployment benefits? To me is seems that it would drop the official unemplyoment rate, but I have seen no studies on it.

        • On August 4, 2012 at 3:54 pm,
          Silverbug Dave says:

          Good point! Also, did the previous time extensions to unemployment benefit claims have any effect to increase the figures? I have never seen anyone analyse it.

        • On August 5, 2012 at 7:07 am,
          Jerry O^OTB says:

          ditto…on the great point….., but, of course we know the official unemployment rate is not correct….according to John Williams at Shadow Stats….

  11. On August 4, 2012 at 11:04 am,
    scott says:

    I agree with some real E. investing ,but pick your area with care. i am looking at some less well known areas, not california. florida -be very carefull. i lived ther for 3 years. i have relatives in ft . meyers area , and plant city. thier propertys are way under current mortgage. crime is very high in Fla. as are FEES . yes no state income tax, but insurance, fees, cost of living are much higher than 30 years ago. Some smart people are buying homes in the south georgia area withing 20 miles or less of Fla. , then renting a room[or mail drop] in north border Fla. , and being a Fla. resident for federal taxes , but living full time in Georgia where houses are 30% cheaper, electic is cheaper etc. of course this is good for retired , not many jobs in south Georgia . love to all. S

    • On August 5, 2012 at 7:11 am,
      Jerry O^OTB says:

      scott…..”way under current mortgage”……if they purchased after the year 2000 or refied…..the mortgage amount and value most likely does not compute into a positive….just to clarify….but, you make some great points…..Florida is not cheap…

      • On August 5, 2012 at 9:57 am,
        Bobby says:

        Jerry,
        Florida may not be cheap but it is 60%+ cheaper than California.
        I can personally attest to that.
        Bobby

        • On August 5, 2012 at 5:39 pm,
          Jerry O^OTB says:

          Bobby…..you are correct….Calli bornia….has never been cheap…..

  12. On August 4, 2012 at 1:43 pm,
    raymondo says:

    These white European (khazars) need to give Israel back to the real Jews (Orientals Jews). This is how I strongly feel.

  13. On August 4, 2012 at 4:29 pm,
    Big Al from Fl says:

    Since I refuse to vote for the lesser of the two morons, I’m writing in Ron Paul. Either way if I don’t show up or do, none are getting my vote, plus I will make a political statement at the same time.

  14. On August 4, 2012 at 6:10 pm,
    Dennis M. O'Neil says:

    This can be filed under Dennis is not watching the Olympics:

    An interesting conversation from a European perspective

    http://www.youtube.com/watch?v=onMzYkVitw8&feature=relmfu

    • On August 4, 2012 at 7:54 pm,
      James says:

      I watched the first few minutes, and it would be interesting to list the reasons in full that every individual gave and then debate them one by one.

      For me, ultimately, wherever the blame is allocated, it all comes down to a lack of personal responsibility. By concentrating power in the hands of fewer people, if mistakes are made the ramifications are widespread, but if personal responsibility were higher and concentrated power lower I would expect mistakes to be primarily isolated to individuals and their direct associations. Thus individual judgment becomes key and people take the benefits of their good calls, and they take the pain of their mistakes. And if one thinks about it, the result is a less aggressive and more intelligent society. One is less likely to be aggressive when one is to blame.

      The more power governments have to control things, the more tragic the results of the mistakes are, and blame is concentrated upon them. However, given that both sides of the political argument are really the same in their actions, the game continues and will keep on going. Until people wake up and give something different a chance, it will all keep on going from one crisis to another.

  15. On August 4, 2012 at 7:26 pm,
    Dai Uy says:

    Al:

    Once again, enjoyed your week-end show.

  16. On August 4, 2012 at 8:10 pm,
    Dai Uy says:

    Al:

    Your program is a lifeline in the current sea of economic uncertainity and common sense which in this day and age, is most refreshing and welcomed.

    In the meantime, hope that you are enjoying the wonderful Olympics……….

  17. On August 4, 2012 at 8:19 pm,
    James says:

    On the BBC recently there was a documentary on an Amish family that left their community to join a Born Again Christian Church.

    What i found interesting is the Amish man set out to have God provide for all his and his family’s needs. This man wasn’t a lazy man, he was industrious in his own way, instructed his children in what he considered right and wrong. But, to use this man’s own words, God provided a little envelope every week with cash in it which kept his family going. There was no address or name on the envelope to indicate where it came from, but these envelopes kept turning up on his doorstep, and he kept accepting them and puttering along with seemingly little real direction in his life, other than his love and belief in God and his ability to provide.

    Then after a time the envelopes full of cash stopped being left on his doorstep. The former Amish man said God had stopped leaving envelopes on his doorstep and he would have to look to God to provide him some other means to support himself and his family. In the mean time, he started to work instead…

    • On August 5, 2012 at 6:58 am,
      MissiveDuTexas says:

      James – So are we to conclude you are in the “austerity” camp? Look at the unemployment numbers, are those people just lazy MFs who don`t want to work or is the helicopter Ben approach not trickeling down to the people?

      I’ll say it again: fraudsterity does not work. ANY reduction in the money supply and its velocity brings contraction in GDP and unemployment. National deficits are a scam of the new world order to skim the wealth of nations. There is no need to attached a debt instrument to every unit of currency issued to market.

      The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity. – Abraham Lincoln

      A Modest Enquiry into the Nature and Necessity of a Paper-Currency by Benjamin Franklin (1729)

      http://etext.lib.virginia.edu/users/brock/webdoc6.html

      • On August 5, 2012 at 3:38 pm,
        James says:

        I found it interesting because it was very similar to the concept of social security benefits. The Amish man wasn’t lazy, as I stated, but just directionless. He had left the collectivism of the Amish group and all the envelopes of cash, and his belief that God will provide for all his family needs (in a literal rather than metaphorical sense) were actually getting in the way of him working and earning a living. The envelopes of cash, it is suspected, came from donations from the other church-goers at the Born Again Church he had joined who were sympathetic to the difficulties of being alienated from a community he had lived with all his life, and the problems of integrating into a new world. The stopped the money and he started working. There is nothing wrong with helping someone in bad times, but the point is, the envelopes of cash stopped. They may have helped at the start, but the had to stop in order for him to start working to earn for his family. The church-goers understood this.

        The issue you raise isn’t one I was alluding to. However, my view is that giving government control of the currency is a problem worldwide. It is a myth to suggest the FED or BoE are actually independent. They ultimately will do what they are told by government. This pseudo-independence hides the fact that in recent years the actions of these and other central banks prove they are controlled by governments. Giving government power over money is in effect giving government power over you.

        Personally, I would prefer competing currencies instead of national, government-created monopolies on the currency. The competition would keep the whole thing relatively honest.

  18. On August 5, 2012 at 7:31 am,
    Jerry O^OTB says:

    CFS…are you out there…..have a question….regards to all the wind mills in Northern Indiana….ONE OF THE LARGEST WINDMILL AREAS I HAVE EVER SEEN…. hope you can respond…..since, you are a farmer in that area….
    there must be over two hundred (200) of these wind mills…..I know what they are for, but, why don’t they work on windy days?

  19. On August 5, 2012 at 2:55 pm,
    Dennis M. O'Neil says:

    I found this gem on you tube.
    The crowd here should eat it up.
    A late 70′s ten one hour Milton Friedman program titled “Free to Choose”
    I link to episode #1 – compelling program…i starts withs an edited presentation but the best part is the forum debate:
    http://www.youtube.com/watch?v=D3N2sNnGwa4&feature=related

  20. On August 5, 2012 at 7:29 pm,
    Dennis M. O'Neil says:

    A trial balloon the will make Ted Butler shrug:
    http://www.cnbc.com/id/48521012

    • On February 2, 2014 at 1:48 am,
      Agnieszka says:

      //Rajarathnam, Thirumalai Rajan, the usual attackers of Arul. All hitvdnua blogs. all TPs//ட ய ப ட ? வ ற ம வ தத த வ த த என ன TP ச ல ற. என ன உன அற வ . ந உன அப பன க க (மட ட ம ) ப றந தன நம ப ற ம த ர ந ன ம ஒர தம ழண ட இத ந நம ப ய வன ம . ப ர ப பன எனக க ப ட க க த என ற ச ல லல. ஆன ந ன TP இல லட .