The gold standard works better than the Ph.D. standard. From Jim Grant at CoolidgeReview.com via zerohedge.com:
I stand with anachronism. I like the low hum of cultured voices, great books, and the dead authors who wrote them. I believe in the fedora hat, which should be tipped in the open air and doffed in an elevator. I support the gold standard.
Nothing against progress.
The sextant sailed us around the world and the slide rule got us up to the moon, but neither beats your pocket-sized GPS-cum-high-speed-computer-cum-Encyclopedia-Britannica.
I understand the imperative of creative destruction, but where has prudence gone?
It was nowhere to be seen in 2008, when a half dozen great American banks became wards of the state, triple-A-rated General Electric required a government bailout, and the edifice of subprime mortgages collapsed. “The greatest failure of ratings and risk management ever”—that’s what Doug Lucas, an executive director at the Swiss bank UBS, called this shameful episode when it was happening. And it was true.
Financial upheaval is as old as finance. Fractional reserve banking is inherently risky. But the so-called Great Recession stands alone for the pedigree of the victims it claimed—or would have claimed except for the saving, smothering, costly federal intercession.
Marxist EDU PhD=Commie.
Twas ever thus since I’ve been around, probably longer.
Government Electric that owns National Bolshevik Communism (NBC) since 1986 and the pension healthcare company Government Motors?
Bolsheviks.
This just in from Max Rockatansky:
God
Guns
Gold
Groceries
Gas
Breaking from Tina Turner:
We Don’t Need Another Hero (Thunderdome)