Sunday, February 8, 2009

Gary North

Gary North is an economic commentator and investment advisor in the USA. He is founding member of the Christian right and a long-time supporter of Ron Paul, the only presidential candidate with any idea of what is really going on in the US and world economy. He is an adherent of the Austrian school of economics. He represents a very pure form of a certain type of conservatism (as does Ron Paul): socially very conservative, anti-fascist, anti-socialist and a believer in the free market in its pure form, undistorted by government intervention and by powerful corporate interests, a type of free market which to my knowledge has not yet existed anywhere and perhaps never will.

Anyway I read his columns regularly because despite the fact that in most ways we have little in common, he has been very good at calling the situation as it is and predicting what is coming next. He's just published quite a long article which is worth a look. Here's a quote from it:

I wonder sometimes if there is anything coherent remaining in what is generally called the conservative movement. Do any of these people have a clue as to what has been taking place? We are seeing the disintegration of the fractional reserve banking system all over the world. It is being held together by bailouts, which are the government equivalent of bailing wire and chewing gum.

The only thing holding the whole structure together is an enormous residual faith in the State and a naïve faith that deficits don't matter.

What he is talking about here describes the Australian scene as well. Remember this guy is a conservative! Read the article for another view from a different perspective of what we're going through: he's saying very similar things to the other people I quote and link to.

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