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If you were President how would you
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<blockquote data-quote="bekbek1" data-source="post: 637291" data-attributes="member: 26501"><p>It's the way we have organized to get things done in the public and private sectors is undergoing the most profound shift since the Industrial Revolution. All people alike feel a disquiet, bordering on despair that goes far beyond the gloomy economic statistics. Since we are continuing to print money to pay for goods and services, a government budget deficit leads to an expansion of the monetary base. By simply reducing the growth rate of the money supply to lower levels, inflation can be prevented. We need to understand the underlying reasons are the adherence of policymakers to a high employment target and the presence of persistent government budget deficits. Bank regulation in America has been highly successful in protecting depositors, but it is a mixed blessing--encouraging excessive risk taking by banks, thus numerous bank failures. There is no doubt that economists and planners don't much like bawdy capitalists. Think small think flexible, think efficient. Size is no longer an intrinsic asset in competing in an global economy. President Obama has the politician's great gift of being able to persuade masses of people that his policies are not only possible ones, but simple common sense that only a fool couldn't accept. His arrogance might be one of his strenghts, but it will finally become his weakness. Not comprehending the essential role arrogance plays in creation and renewal is as dangerous as underestimating its dysfunctional side effects.</p></blockquote><p></p>
[QUOTE="bekbek1, post: 637291, member: 26501"] It's the way we have organized to get things done in the public and private sectors is undergoing the most profound shift since the Industrial Revolution. All people alike feel a disquiet, bordering on despair that goes far beyond the gloomy economic statistics. Since we are continuing to print money to pay for goods and services, a government budget deficit leads to an expansion of the monetary base. By simply reducing the growth rate of the money supply to lower levels, inflation can be prevented. We need to understand the underlying reasons are the adherence of policymakers to a high employment target and the presence of persistent government budget deficits. Bank regulation in America has been highly successful in protecting depositors, but it is a mixed blessing--encouraging excessive risk taking by banks, thus numerous bank failures. There is no doubt that economists and planners don't much like bawdy capitalists. Think small think flexible, think efficient. Size is no longer an intrinsic asset in competing in an global economy. President Obama has the politician's great gift of being able to persuade masses of people that his policies are not only possible ones, but simple common sense that only a fool couldn't accept. His arrogance might be one of his strenghts, but it will finally become his weakness. Not comprehending the essential role arrogance plays in creation and renewal is as dangerous as underestimating its dysfunctional side effects. [/QUOTE]
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