Comments on: Ben Bernanke Tells US Congress That Subprime Crisis Will Get Worse

By: Pier Johnson

Pier Johnson — Sat, 10 Nov 2007 22:51:24 +0000

It's quaint, yet not correct to say -- "Real wealth comes from production, not consumption based on debt."

Wealth comes from growth of being able to make things wanted -- having the right kind of factories for future wanted goods, the right kinds of transport system for future wanted travel, the right kind of health care for future living citizens.

In-production machinery wears out toward obsolescence.

The trick is gearing income growth of those working with offered credit and future-wanted goods.

Why there is such a mess comes back to false Price Signals brought to us by Fiat banknote funny money and Value of Money Price fixing by anonymous Private Central Banksters.

Read Richard Cantillon's Essai sur la nature du commerce en general -- the only work on money you need to know.

By: Ali.

Ali. — Fri, 09 Nov 2007 05:29:47 +0000

there are two things they don't teach you about in school, one is women and the other is money.
both have to be learned about the hard way. women don't have to be taught about men cos women are hardwired straight from the factory to understand men completely, men are such simple critters anyway.

By: Earl Mardle

Earl Mardle — Fri, 09 Nov 2007 04:04:13 +0000

However, I did see the other day that Aussie has the dubious distinction of having its consumer debt at something like 150% of income, the worst in the world.

And good luck with the gold. By all means hold it while the rest of the economy goes to hell, but there's a point where even gold doesn't work, ask Croesus.

Me, I'm investing in my land, my tools and my education. Learning to live with less.