Tuesday, August 31, 2010

Reinvestment plan sparks FOMC debate

As investors, we encourage what we anticipate, even government stupidity. As humans, we discourage stupidity. As quasi-government agents, they ought to be more intelligent about seeing how every action they take blossoms into a new problem. As members of the ruling class, they probably do, and new problems mean a bigger role for them - at least until the masses catch on. But with enough TV and terrorism out there, they can prolong such a day of reckoning. Hopefully not indefinitely.

I think our best bet is to get in tight with our state legislature and start working on nullification of most federal regulation, especially the tax code, legal tender, and the central bank charter. One of the states will get this right first, and that will be a watershed moment.

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