When I started this blog earlier this year, one goal was to give you the very best pro-life information and analysis.  Not the daily news that will be forgotten in a month or so, but the stuff that really matters.  As a measure of our success, FAB was recently recognized as the best pro-life blog in all of Karns!

But this is more than a pro-life blog.  As politically active patriots, we share many interests that FAB touches on every now and then.  As it turns out, FAB provides expert economic analysis as well as pro-life commentary.  You are really getting two experts for the price of one!  On September 9, FAB wrote:

The ultimate cause of the economic conflagration was the widespread belief that this economic gravy train—25+ years of Reagan-Bush recovery—would never end.  This belief caused people throw caution to the wind.  They took on way too much debt to buy bigger and bigger houses and other stuff they didn’t need and couldn’t afford.  Lenders lent money to people who couldn’t afford to pay it back.  Corporations focused on short-term profits at the expense of long-term stability.  It’s very tempting to throw your money around at the casino if you get the stupid idea that the game won’t let you lose.

To elaborate, the crisis wasn’t created by just one culprit, but by the cumulative effects of more and more greed that manifested itself as risky economic behaviors, especially excess debt, at all levels of society, from the household to the state house (e.g., California and New Jersey) to the halls of Congress.

Well, it appears that the New York Times has finally caught up.  In Gold Fever: Pondering the Causes, NYT chief financial correspondent Floyd Norris observes:

… the problem seems to be perpetual weakness in rich economies that have been hobbled by debt foolishly taken on by people from bankers to subprime home buyers who had one thing in common: a belief that the risk of something going very wrong was all but nonexistent.  (emphasis added)

My mom always said she’d rather be right than rich.  Well, it seems I’ve gotten her wish.

Want some good investment advice?  FAB actually stole this from Somebody Else:

Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where neither moth nor rust destroys, and where thieves do not break in or steal; for where your treasure is, there your heart will be also.  (Matthew 6:19-21)

More on the way.  By the way, I’m also a Tennessee sports fan, and when we start winning football games, you’ll hear more about that as well.

Tags: economics, gold, politics

This entry was posted on Friday, November 26th, 2010 at 12:53 pm and is filed under God's Kingdom. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.