Friday, February 13, 2009

2009: Shock & Awe - Doug Casey The Bullion Vault

THE PEOPLE in the US government are totally out of control, writes Doug Casey, chairman of Casey Research.

A poker player would say the government is "on tilt"...placing wild, desperate bets in the hope of getting rescued by good luck.

4 comments:

Anonymous said...

There are two economies in the market economy. The first is the people that have decent jobs, union wages, and credit cards. These people drive cars which have a price tag that could support a small family family for a year or more. These people live in places that are priced at six or more times their annual salaries.

The other economy is the people who have no credit, no contacts, and no opportunities. These people work mostly temporary low wage jobs that most people care not to do. They struggle with rent that eats up most of their pay cheque.

So it is the distortions in the market economy that are ignored also.

Anonymous said...

Hi Lou, as a Poker player, I would say the government could be on tilt, but more likely playing with "scared money". That's when a player is down to his last buy in, or somebody has bought them in, and they're playing at limits above their bankroll.

You can't make good decisions, you chase hands you shouldn't, fold hands you should play...

Louis Paquette said...

Sounds like an accurate description to me ("scared money").

While U.S. leaders are tossing the Trillion number around like money grows on trees, I would say ours here in Canada are nearly as wreckless and arrogant. Locally, they spent a half million on a pre Winter Olympics party (still a year away) that the public wasn't invited to (but will be foreced to pay for).

A half Million isn't much compared to Trillions, and our politicians aren't tossing money around at the scale they are in the States - but they are running a close second for arrogance...

Louis Paquette said...

Thanks for contributing to the Blog comments.

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