I just want to alert everyone to a problem that I fear is much greater, and frankly, poses a more imminent threat to our national security and our way of life than our overbearing government and the coming collapse of the dollar!

This is difficult for me to say…. if you aren’t already sitting down, I suggest you do so.  My dear friends, they’re smart, innovative, and have developed the skills to make even the most obscure items (even paperclips) tools to achieve their objective (MacGyver would be proud).  They already control the skies; some can even speak our language, as they have lived among us for years.  This group is everywhere, and their family, simply known as “Corvidae”, goes back many, many years!

It appears that their intelligence and problem solving ability will soon surpass our own.  It’s only a matter of time before they take us over.  Please heed my warning and do what you can to protect yourself from the coming tyranny that will exist under our future “feathery” overlords.  (Watch this video and you’ll know what I’m talking about)

http://www.youtube.com/watch?v=efcIsve5wu8&feature=fvwrel

Mike?!  Is that you?  LOL

I couldn’t help but notice your comment had nothing to do with the post, but I also know where you probably became aware of that video.

As for the video, Bob does a great job at describing a great many areas of economics in great detail while also making it somewhat understandable to the layman. Sure, some economic knowledge is required to know what he’s talking about, but it is very basic and limited. I especially liked his explanation of speculators due to the fact that he essentially condensed Rothbard’s analysis into a few sentences: that there exists a market-clearing price, and that speculators are nothing more than actors that notice that a price is either above or below that clearing price, thus they help to smooth out volatility in the more aggregated sense of the market.

I also thought that this interview was good in that he made the case that there is not one single thing that caused the bubble, that there was a lot of interplay between regulations, incentives and guarantees, but that all are essentially contingent upon the free availability of credit by the Federal Reserve System to allow these things to come together into a “bubble”. Sure, all of these things in isolation are horrible in their own rights, but could not have alone formed a bubble. Instead, it is their combined interruptions to market activities coupled with, most importantly, the distorting of the general calculating unit, that caused a bubble to occur.

People often like to focus on one particular thing, but they often miss how certain things can act in concert. However, if you were to explain the booms and busts of modern economies, there is only one place to look: the manipulation of the general medium of exchange (the money).

I vehemently dislike how one can not edit these posts!  The first line is a horrible fragment with two thoughts running together where I started to delete something, got distracted, and uhhh….  Serves me right for not proofreading.

You can edit posts.  I think that it depends upon which DisQus format you use.