[Homestead] The Piggy Bank is empty, Wall Street reacts

Lisa Perry lkvp at floydva.net
Fri Sep 24 15:23:40 EDT 2004


>> tvoivozhd---you got that right, James---it's all an illusion---and to 
>> make the illusion worse we have paper-and-ink currency that can be 
>> changed in an instant, arbitrarily,instantly devalued, devalued more 
>> slowly by running the printinp press night and day---or just plain 
>> old cancelled (snip)
>
Read a good book recently entitled "Financial Reckoning Day:  Surviving 
the Soft Depression of the 21st Century" by William Bonner and Addison 
Wiggin.  There was much discussion in the book about how much things 
have changed since Nixon took the dollar off the gold standard in the 
70's.  Wish I recalled the exact date, it's one of those dates I want to 
memorize.  It's Bonner and Wiggin's opinion that we're in for rough 
times ahead, they think our economy is following Japan's--10 years+ 
later--and the various troubles they went through for a decade or so.  
They discuss the stock crash, housing bubble, eroding value of the 
dollar, increased deficits, etc.  If you like to read this sort of 
thing, it's an interesting and entertaining book--not at all dry.

Lisa

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