The End of Dollar Hegemony

[sugarkang]

NYT: China and Japan agree to stop relying exclusively on dollars as the worldwide currency.

Gee, why would they do that?

Jon Huntsman starts looking more important.

[chiwhisoxx]

just out of curiosity, are on board with ron paul's monetary policy?

[sugarkang]

Originally Posted by chiwhisoxx

just out of curiosity, are on board with ron paul's monetary policy?

No. Unfortunately, that's his biggest issue and the overlapping consensus with the standard GOP. But let me ask you this:

What's the point in being Keynesian if it's politically impossible to implement Keynesian policies the way they were intended, i.e., spend big now and save during a boom, spend on shovel ready programs (but they don't exist)?

And who supported the housing bubble that's responsible for our current economic bullshit? Your Keynesian-In-Chief: Krugman.

[chiwhisoxx]

Originally Posted by sugarkang

No. Unfortunately, that's his biggest issue and the overlapping consensus with the standard GOP. But let me ask you this:

What's the point in being Keynesian if it's politically impossible to implement Keynesian policies the way they were intended, i.e., spend big now and save during a boom, spend on shovel ready programs (but they don't exist)?

And who supported the housing bubble that's responsible for our current economic bullshit? Your Keynesian-In-Chief: Krugman.

since i'm um, not a keynesian, I can't really answer your questions. but i'm pretty certain there's space between paul krugman and ron paul on monetary policy, not to mention keynesianism in general (there's a lot more to keynes than monetary policy)

[badhatharry]

Originally Posted by chiwhisoxx

since i'm um, not a keynesian, I can't really answer your questions. but i'm pretty certain there's space between paul krugman and ron paul on monetary policy, not to mention keynesianism in general (there's a lot more to keynes than monetary policy)

I think the examples sugarkang gave were fiscal policy. But what do I know?

[sugarkang]

Originally Posted by badhatharry

I think the examples sugarkang gave were fiscal policy. But what do I know?

I was going to mention that and decided against it.

[sugarkang]

Originally Posted by chiwhisoxx

since i'm um, not a keynesian, I can't really answer your questions. but i'm pretty certain there's space between paul krugman and ron paul on monetary policy, not to mention keynesianism in general (there's a lot more to keynes than monetary policy)

Yeah, but that's really besides the point. Monetary policy is Ron Paul's number one issue, which I disagree with, and I still support him.

[badhatharry]

Originally Posted by sugarkang

Yeah, but that's really besides the point. Monetary policy is Ron Paul's number one issue, which I disagree with, and I still support him.

not relevant, but interesting.

[sugarkang]

Originally Posted by badhatharry

not relevant, but interesting.

I saw this a few days ago, but I wonder if you found the same parts interesting. Most of the article is "ZOMG this man is crazy" in subtler terms; it's WSJ. The key fact, however, is when he made most of his gold investments: 2002 and prior. And the author throws in a little "gold is off by 20%" as if to suggest RP made a foolish investment.

Let's compare investments over the past decade between 1/1/2002 through 12/27/2011:

1. S&P average: 9% (not per year; the entire decade)
2. Dow Jones: 20%
3. Berkshire (Warren Buffett): 61%
4. Gold: 500%+

Looks like money manager of the decade to me.

This is pretty hilarious. In his newsletter, RP sells a bunch of silver and gold coins to delusional and paranoid nutters and directly profits off of their gullibility. Only $1,675 for the kit he says! Clearly a scam.

Except one commenter does the math and estimates that the kit would be worth close to $9,000 today.