Money and oops

A recent WSJ OpEd provides a good opinion about the need for more than a 'gab standard' for money. Much of the current crisis results from a lack of a reasonable standard for value, as what we have is some basis set arbitrarily by committee which is not that far from the 'central committee' approach loathed so much by the capitalist. So, the Fed's usefulness can be questioned.

Too, we have seen that 'capitalists' are those who like to privitize their profit while socializing their losses off on the rest of us poor suckers (paraphrased). Ah, how did this happen?

This blog was to look further at money from several angles. It's still on the plate. Too, alternative methods have been studied and discussed.

Remarks:

03/15/2011 -- The M & Ms are apropos.

02/18/2009 -- We can look at why securities become toxic, almost by necessity.

12/01/2008 -- We need to learn what we might be taught about money by Islamic Finance.

11/18/2008 -- Yesterday, the WSJ had an opinion article titled: "To prevent bubbles, restrain the Fed". The Fed has been on record many times saying that we cannot see bubbles as they happen. What? The approach has been to clean up the mess after the fact (as if the market capitalist cannot be toity trained). Well, as said above, the gab standard is troublesome, for many reasons.

Modified: 03/15/2011