Economy

While recognizing the economic collapse we're doomed to suffer, this post terribly misidentifies its cause.

"Quoting social scientists before him, Berman establishes a theory of a hustler mentality of the average American and the solitary goals of self-indulgence and compulsive consumerism. Where once there were family, friends and culture now resides a "technopoly" or a "totalitarian technocracy" which "eliminates everything else". Where people are treated like machines and cultural life forms bequeathed to the "sovereignty of technology." Where if one is not very careful, the virtual world and (social) network lead one to isolation "because if you are at home alone with a screen, that's where you are." Where brain function takes on the characteristics of the telecommunication device. Where the Internet teaches malleable users to skim read and not contemplate, permanently fragmenting the thought process and ability to attach oneself to a thought or idea."

What a bunch of crap. Our cultural problems are all consequences of economic problems. Children grow up knowing that government, because of its threats of violence, is more important than family. This degrades families. Children grow up knowing that money comes easy because the Fed prints it. Any old job today will pay more than a quality job yesterday. When parents tell children to save their money, the children laugh. They innately recognize that savings in our world of grotesque inflation is stupid, so they spend instead. This further undermines the family. Social networking is not our problem. It just magnifies the problems created by government. If we could get government off our backs, social networking and the internet would magnify positive behavior like saving and creating wealth.

Governments have long known that if you want to scare people into doing some activity you want, scare them. Declaring a gold crisis is just an investor using the same tactic. I believe gold is a good investment. But there's no crisis. It's not like the government has seized it yet. Yet.

The government lets crony John Corzine go free despite his company losing billions. You might think this is shocking. If so, you're a fool. The important word in all is crony. That's the get of jail free card for the ruling class. Corzine has it. He used it. He goes free, billions richer, while every other American becomes poorer.

A few days ago, gold was at a buying opportunity. Even though it's gone up since then, it's still a good buy.