You should probably save your venom for people who are bothered by it. I admit my flaws and mistakes when they occur. If your delight is to simply rub my nose in them, that just clarifies what type of person you are and makes me pity you, not get angry with you.
no venom , just pointing out (the historical evidence of ) you making the same characteristic mistake again. When you recant your assessment of rcg I'll be gentle.
Perhaps. But I would rather judge posters here on their comments more, and on their persons less. RCG has shown himself to have periods of what I would call lucid thought. I know you will disagree, and that is your right. Others, like Ricter or AK which show every single possible comment almost without exception to be just flat out dumb, I've kinda written off as class clowns.
Now, if this is actually going to be about Mises, then you have to bring Europe in, not just what the Fed is doing here in the US. Europe is all about austerity, and would probably (I'm guessing here, as my opinion of Mises is somewhere between zero and a negative number) earn much higher marks from the Mises crowd than the US does. In the history of the US, both pre and post Fed, the US has almost always run at a higher inflation level. However, this is to be expected since the US almost always grows faster, including - politics aside - right now. Almost alone among the large countries, the US is registering consistent growth. The problem is the growth isn't enough to lower unemployment, hence the political stuff going on now. In my opinion, that's hardly a reason to look at Mises. Between Europe's constant austerity, where balanced budgets are like an ever-receding rainbow because every time you cut you lower the level of economic activity, which lowers the tax take, which leads to another round of cutting, and the whole cycle goes on again, and the US's multiple fiscal and monetary stimuluses, I'll take the latter. We have some drag from austerity at the state level, which you can see in the falling number of gov't employees, but it's been counterbalanced at the Federal level. That is the correct path to take. Without it, we'd be the eurozone. No thanks on that.
It is only because of the Eurozone's past prolific spending that they are in the predicament they are in now. They are simply almost out of runway, and they get it. We still have runway left, but it's coming. Our Eurozone moment will be hear sooner than most realize.
We both know RCG is the black Joe Biden of the ET P&R. Nothing he says makes a whole lot of sense even when he is 'lucid.' He is mostly noted here for lies, flip flops and ignorance.
Really? Spain has less debt than the UK. The gov't was running a surplus before the crisis, and is only running a deficit now because of it. Where's the evidence of their prolific spending? They're in crisis because they ceded sovereignty over their money. If they leave the eurozone tomorrow, in a year they'd be fine. Ireland: ditto. Look at Iceland: has its own currency, recovering. Look at the UK: has its own currency, muddling through, like us. Show me one case of a country in Europe still having a crisis that hasn't either a) joined the eurozone or b) pegged its currency to the euro.