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Bitcoins are getting traction because we don’t teach basic economics any more (we teach a lot of advanced gobbledygook that few understand and is forgotten as soon as finals are over) so few people understand how wealth is created. Wealth is created by producing more than you need of something that someone else is willing to spend time and energy to acquire. (Think about it.) Wealth consists of possessing transferable assets. Something real and desirable that can be traded for something else real and desirable. In absolute basic terms that’s food, clothing and shelter. Anything else is only desirable after these basic needs are met. Bitcoins masquerade as a politics free fiat currency and therefore stable and reliable. Nonsense! Like fiat money bitcoin is nothing more than an IOU. The difference is that fiat money has governments ability to use force to confiscate your wealth in order to pay off the IOU. Issuers of bitcoins have no such power. When the Ponzi scheme collapses those who have acquired transferable assets using bitcoin come out winners and those who give up transferrable assets to acquire bitcoins come up the losers. And, like all Ponzi schemes there will be a collapse.
In response to:

A Bitter After-Taste

Roc1929 Wrote: Jun 17, 2014 11:02 AM
J. Galt: You are right. For a history of governance go here: http://www.meetup.com/westend912project/messages/boards/thread/18244772 To learn of George Orwell's prescience, go here: http://www.meetup.com/westend912project/messages/boards/thread/44387992
In response to:

A Bitter After-Taste

Roc1929 Wrote: Jun 17, 2014 9:49 AM
Read or YouTube An American Amnesia by Bruce Herschensohn and you will learn that the North Vietnamese signed a truce but the Democrat Congress refused to vote to provide the South with arms to protect themselves against future aggression. We won in Iraq but the Democrats abandoned the Iraqis before the country became stabilized. Finally, the Shah of Iran was trying to drag Iran, kicking and screaming, into the 20th century. Then the Democrat Jimmy Carter cut him of at the knees and we had 66 Americans held hostage for 444days. What is the lesson? No country as divided as we are should ever go to war. The reason that 13 individual countries came together to form a federation was for defense: To prevent us from being picked off one at a time by England or Spain. When we are militarily strong we have peace when weak we are attacked. And we repeatedly ignore George Washington's counsel to avoid foreign entanglements.
It’s just as foolish to reject a conflicting point of view out of hand as it is to accept agreement without question.
In response to:

The Prisoner Swap Deal

Roc1929 Wrote: Jun 10, 2014 9:36 AM
James: I don't care what a person is called, i care about the truth and sanity of what he says. Among the rational our actions define us, not our labels.
In response to:

The Prisoner Swap Deal

Roc1929 Wrote: Jun 10, 2014 9:22 AM
Bill: You nailed it. When I tell people that Obama is trying to bring down America they all ask, why would he want to do that?
In response to:

A Young College Grad Calls My Show

Roc1929 Wrote: May 27, 2014 7:43 AM
In life, the most important decisions are seldom between right and wrong or good and bad. More often they are between wrong and disastrous or bad and evil.
I’m a pessimist. A pessimist is someone who is either right or he’s happy. I believe that the Progressive Democrats have passed the tipping point and even if they lose the Senate and the White House, this time around, their strategy of chip, chip, chip will ultimately prevail. The progressives are like a Cheetah chasing a Gazelle: They are so focused on their quarry that they are oblivious to anything else. The strategy is say anything, do anything but get elected and then play it by ear. (I’m not advocating this, just reporting it.) Look at Clinton, look at Obama, look at Reid, look at Pelosi, We stand aghast at their lies, foolish proclamations and personal attacks. We recognize them for what they are and are outraged. But as our Founders said, the average citizen is too busy trying to make a life for himself and his family to pay close attention to the intrigues and machinations of politics beyond their community. So the constant drumbeat of the Progressive mantra becomes the cultural norm. Are you unyielding puritans oblivious to the fact that at one time there were many conservative Democrats and that, while rare, there are still some conservative Democrats left. Show me the blogs advocating that they be thrown under the bus because they were not progressive enough. No, they recognize that numbers count. They get them elected and then work on them from within the party. As Dennis Prager would say, we have two parties: The dangerous party and the stupid party. I belong to the stupid party. That’s why I’m a pessimist.
I have long held the position that if the day ever comes when I find myself agreeing with another human being an absolutely everything, break out the pine box because it means that I am brain dead.
In response to:

The Myth of the “Shrinking Deficit”

Roc1929 Wrote: May 07, 2014 8:51 AM
No one seems to understand how much the deficit was reduced by the sequestration that the Democrats hammered the Republicans over.
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