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Posted By: Jahfre Fire Eater
Date: 2008-01-10 08:01:50
Nice article, Billy Joe. I was looking for a reference for my comment but I have to start work in 10 minutes so I don't have it...I believe it was in Nathan Lewis' Gold: The Once and Future Money. Anyway, the analysis boiled down to two things for peace and prosperity:
1. Sound currency. (and the resulting long-term stable prices. i.e. No Inflation.)
2. Low taxes. (and the resulting increased savings and productivity)
Any government that has instituted policies which deviate from these goals has ultimately suffered an economic collapse; it is just how it works. It took the US a while to fully detach from them but we are in rapid freefall now with rampant inflation, a constant push for higher taxes and a savings rate less than 0. Oh Boy! 2008 is going to be one of those interesting times to which the Chinese curse "may you live in interesting times" was referring.
In terms of financial stability we are strong today, but we lack in terms of business growth,” he said. The industry ceiling lights needs to find new ways of doing business, as the balance-sheet growth is not satisfactory, he added.“We need to increase the outreach of commercial garden lightsbanking by increasing the number of ATMs and develop e-banking further, which is a low-cost solution,” he said.He said that the financial crisis has taught bankers that excessive risk-taking needs to be curbed. “In the case of the US, there were deliberate landscape lighting loose policies to expand business. We need to stop using risk as a product,”
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