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Thursday, October 7. 2010

Fear

Alan Greenspan cites fear as the cause for the non-recovery. It's fear mainly of the consequences of government actions. From what I see and hear, that seems right.


Money will sit dormant on the sidelines until people know what is coming next. No new investment means no jobs.

Posted by The News Junkie in Hot News & Misc. Short Subjects at 10:03 | Comments (3) | Trackbacks (0)

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Hope and Change has become Fear of Change (for the worse).
#1 vikingTX on 2010-10-07 10:42 (Reply)
The central bank and the central government are becoming bad jokes. The former sees it's function as propping up asset prices by debasing the currency while the latter believes in the justification of this nonsense as sound policy. It's an exercise in deception in service to the political/financial class at the expense of everyone else. If the central state derives it's powers from the consent of the governed then this self-perpetuating fraud on the source of those powers brings into question the very legitimacy of that government. Fraud is fraud whether committed by gentle confidence men or by thugs with guns.
#2 Tom C on 2010-10-07 11:45 (Reply)
Been reading about the New Deal and this same dynamic, fear of government, caused a strike of capital as businesses hide and hoarded assets. Read "New Deal or Raw Deal?"

I thought of it in terms of competition. Imagine two chess players locked in battle over the board with a big bet on the outcome. The chess club announces that they will change the rules of the game in five minutes and then maybe again later. Who would dare make a move until the new rules were clear and stable again?
#3 Whitehall on 2010-10-07 12:21 (Reply)

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