X-Message-Number: 31173
Date: Mon, 17 Nov 2008 20:05:48 -0800 (PST)
From: Shannon <>
Subject: Ben's Economic Market History Analysis


I love Ben to death, and always will no matter how long that will be ;-) But 
with Rudi's response I had to add my own :-) -- It is an interesting read but it
seems to lean heavily on pre 1930's economic theory.  Entrepreneurs often fall 
into looking for short term self interest, ignoring long term health for the 
industry and frequently for themselves. A perfect free market theory relies upon
perfect human rationale. To apply a political theory that arose at the same 
time as free market theory, we rely upon social contract between citizen and 
government to limit the more extreme flaws of human self interest and 
limitations of rationale and logic. So while government agency may not be 
perfect, history actually indicates that it is preferable to a totally 
unregulated free market.  There is nothing about economics or business that 
suggests an immunity from the tenets of Natural Law. 


We all have different views, what is going on is quite complex and understood by
very few--and we will learn more in time as this plays out. I loved James 
Hughes theories on global government and regulation of global economics over the
past weekend at his Life Boat Foundation's Global Catastrophic risks talk ;-)  
(There was a person video recording it, and the videos should be up sometime 
soon :-) )  


Health, Happiness, Wisdom & Longevity :-) -- best wishes from...  Austin, Texas
--Shannon Vyff                                                  "21st Century 
Kids" http://www.amazon.com/21st-Century-Kids-Shannon-Vyff/dp/1886057001


 Subject: Ben Best provides another winner..., off topic if
 you conside...
 
In a message dated 11/14/2008 5:00:41 AM Eastern Standard
 Time,  


 And those of you who are wondering what caused
 this financial crisis might  be interested to read
 this  history:
 
 http://www.benbest.com/polecon/buscycle.html#housing
 
 -- Ben Best


 I don't always agree with Ben Best.
  
 However, I am in substantial agreement with this analysis
 of economics,  with 
 it's free market and Austrian economics spin on
 history.  Ben's  analysis and 
 details and references would probably be good enough for
 most grad  schools 
 to consider it a Master's or PhD thesis in economic 
 theory.
 
 Please don't think that recent events have repudiated
 basic free  market 
 theory economics.
  
 In contrast, the market distortions caused by Fed mediated
 lending, in  which 
 the central bank sets and maintains artificially low
 interest rates, may  be 
 one of the causes of the current crisis.  
  
 Along, of course, with fiat based printed money, backed
 solely by goverment  
 taxing and extortion policies.
  
 Everyone these days seems to have opinions they will bore
 you with at the  
 drop of a hat about the economic "crisis."  
 
 But, IMO, Ben has provided a historical perspective much
 more well  informed 
 than most.  
 
 Of course, none of this may make a  difference.  Most of us
 feel dismayingly 
 powerless regarding macro-economic  matters.  
 
Sorry for the off-topic post, but Ben Best is a pretty 
smart fellow.  I'm 
 glad he's on our side, trying to save our individual 
 lives...
  
 Rudi



 Rudi Richard Hoffman CFP CLU  ChFC

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