Daily Bell: We last interviewed you in 2009. Has the world's economic picture gotten worse?
Richard Maybury: As far as production is concerned, I think that things have improved but the essential problem is the malinvestment that was created by the Federal Reserve counterfeiting dollars since 1913, and almost all that malinvestment is still out there and needs to be shaken out. The pain we have been going through since August of 2007 has essentially been for nothing because the federal government stopped the malinvestment, or most of it, from being shaken out, and that traumatic experience is yet to come. So, anybody who thinks we are getting to the end of this thing is dreaming.
Daily Bell: What's the worst problem America is suffering from?
Richard Maybury: I think ethics. Nearly the entire population has been raised in schools that are under the control of government agencies and they have been taught that the government doesn't need to obey ethical principals such as, "Thou shall not steal". So, this has become part of the American culture. I don't see any long-term solution for America or any of the rest of the world until they start accepting the fact that government has to be ethical, just like individuals.
Daily Bell: Is America essentially bankrupt?
Richard Maybury: America isn't but the federal government sure is. I don't think I need to get into statistics, but the federal government is about as hopeless as we have ever seen in history. I can't think of any other government that ever got into this much trouble, but the country and the government are not the same things. Some individuals are bankrupt, some are prosperous, it varies from one person to the next, but most assuredly the federal government is a real financial basket case.
Daily Bell: How can America recover?
Richard Maybury: Well again we go back to ethics. We have to go back to obeying the rule of "Thou shall not steal". The American founders went through all this two centuries ago. I am doing an article on this in the Early Warning Report. Thomas Jefferson for instance, in his first inaugural address laid out 16 principles for how the government should be run ethically. I think the time has come where we have to start re-learning what those principals are and the country is supposed to be about. I have become very optimistic when I look at the protests that are going on in the United States now, and there is a lot of focus on the constitution and the writings on the American founders. I think the American people are beginning to realize that there's a lot they were not taught in school and they need to now learn what the country is supposed to be like. That's a wonderful development and I hope it continues. We have to rediscover our origins, and a lot of people are beginning to do that.
Daily Bell: What will happen to the dollar?
Richard Maybury: I think the dollar, as we know it is dead or pretty close to it.
More Here..
A few notes on Maybury's holding forth - He keeps bringing up the inherent corruption of the federal government. I agree, but he lets the gangsters of business and finance off the hook with nary a word, Paulson, Bernanke, Blankfein, Dimon, to mention only a few. With the eager and agreeable assistance of the federal government these men and their greedy minions not only looted our economy, but terminally altered our abilities as citizens to maintain and implement ethical approaches to the most basic fundamentals of American life: Saving, investing, planning, building. They continue to do so after the largest ripoff in the history of humanity. There are absolutely no consequences for them. Our three departments of government are almost completely owned and operated by these corrupt corporate bloodsuckers. Also, it is extremely difficult for me to fathom Maybury's comments on investing. On one hand he seems to be saying that the Fed and the government produce and use money manufactured out of thin air, but at this time, most investments are simply mathematical equations accomplishing just that - money out of thin air. Simply examine domestic corporate production levels. If we are to survive and hopefully, eventually prosper the creation of money from nothing must stop. If we are to survive we need, at LEAST, the very serious prosecution of these "businessmen" and bankers and in depth and serious analyses of our national psychology of greed, something for nothing and the destructive exploitation of the shrinking middle class. The truth, which not many seem to be eager to acknowledge, is that we have been decimated by a corrupt and savage group of thieves and thugs and until we, as citizens, deal forcefully with these offenders nothing, absoluely nothing will change. In fact, it is going to grow worse - much worse.
ReplyDeleteSociety is really going down the tubes, the whole world is.
ReplyDeletePeople, theives in Washington and such are merely a fraction of the blame. Sure the Corporatists and Socialists/Commies together helped orchestrate the methods to employ for humanity to lose itself depending on the countries they fucked with. But this does not excuse the people. Every man is responsible for his own consciousness.
The Progressives/Socialists of the 1800s were just a shadow form of the former Eurocentric aristocrats. The aristocrats sent armies out to colonize indigenous peoples and also places such as China and Japan to take wealth from them. The Communists of the 20th century only posed to be their salvation and ended up making their conditions worse after each revolution. In other words the colonizers/oppressors and the anticolonialists/Commies were the same people duping the natives into thinking it was good versus evil; a fight for freedom.
They established their foothold in the United States in the second half of the 1800s following the Civil War. That was when capitalism started disappearing. There hasn't been capitalism in America for the longest period now. Of course it steadily recedes from our memories day by day.
Much of what you do is controlled by the banks. Everything you attempt financially is regulated. There is no competition, you have no chance to compete since you can't design your business the way you want it to be. You're up against people that control 500 television stations, own billions of dollars, and have complete control over the minds of men. Your message cannot be heard, no matter how much truth it contains over all the scams in this world. These scams run in the New Age, are in Wallstreet, universities, dating sites, weight loss products, and so much more.
Give a sucker your money and they'll teach you the secrets of gaining power, security, wealth, babes, muscles, enlightenment, and godliness.
While honest money making people like ma and pa or someone just running a little business for products or food that are actually real are being driven into the mud. Factories are empty, farmers are being encumbered, we produce nothing outside of opening up more retail stores as we import trash from other countries. TRASH! Crap that nobody really needs (or can afford). Billions of god damn video games, cell phones, TVs, gadgets, movies, cars, the list goes on.
What the fuck is wrong with this shit!?
WHAT THE FUCK!?!?!?
And the final example to demonstrate my point on ethics being hardly confined to dirty politicians or police, go to yahoo answers or other idiot attractors and literally spend a few minutes looking at the questions people ask and the answers people give. My God if this is where people have their heads still... there is no hope for mankind.
God help us, and I hope as many of you make it through the storm as possible.
Mayburys need for “good Ethics” in capitalism , view of the world seems much the same as your own?
ReplyDeleteThat the golden age of American capitalism existed as long as small business ,Ma and Pa Kettle and their son Joe Six- pack could get a fair share of the loot of Empire with cheap housing finance and welfare benefits too.
That small shopkeepers etc, should be able to make a profit too ,from selling and servicing the trash ,populist, cultural benefits of consumer society ?– “we import trash from other countries. TRASH! Crap that nobody really needs (or can afford). Billions of god damn video games, cell phones, TVs, gadgets, movies, cars-…” from the “ scams run in the New Age… in Wallstreet, universities, dating sites, weight loss products, and so much more.”
But they,the ideal Ma and Pa ,cannot compete, the natural competition in capitalism leads inevitably to monopolies and monopoly retailers in partnership with finance capital , have access to the big profits from credit /debt supply and on the cheaper commodities from bulk buying ,like Wall mart does in the Third World. As well as bulk advertising rates for “discounts” that small business cannot compete with .
That golden age of American capitalism , consumerism, was only possible in recent decades in the de-industrialized US by the creation of a great Ponzi economy with property bubbles based on foreign credit supply in a dollar hegemony system for looting cheap labor commodity wealth from the third worlds export of wealth and credit countries, like China.
Nor can high waged American industrial workers compete profitably with cheap free trade commodity supply ?
Besides Capital has exported most of the Industries and jobs it owns because of the economic necessities of free trade for capital.Should we just blame the facilitators of that “free trade” process, by their “socialist “Government agents .
With NAFTA and the importation of a cheaper” free trade” in Hispanics “ illegal” labor supply.
Maybury does recognizes the snake ,a main flaw at the center of this post-industrial debt society. The Fed bank , creating Fiat credit/money as debt for the federal government ,allowing unlimited massive deficit spending for wars and other welfare perks of Empire.
You are right, “but he lets the gangsters of business and finance off the hook with nary a word, Paulson, Bernanke, Blankfein, Dimon, to mention only a few. With the eager and agreeable assistance of the federal government these men and their greedy minions not only looted our economy.”
That is the natural end result of developed capitalist competition . The concentration of accumulated wealth in an elites hands and bonuses for their bankster agents, an insolvent system .
It is a total economic system ,a government and court backed and subsidized rich and corporate “persons”.
A corporate state where government now props the profitability of the TBTF in a Ponzi debt ridden economy.
As that Ponzi system implodes Maybury suggests as an “ethical” investment advisor, speculation in the government financed military industrial complex ,in order to benefit from any possible future wars for empire.
"That's why I keep suggesting defense stocks. I think they are going to look good simply because the defense industry is going to be in big demand for its products."… I give it a 60% probability that the US will go to war with Iran. I think it is likely to happen because he Israeli government wants something done with Iran ..”
But you ,with perhaps your ideal of a never existing, pure ideal Ma and Pa capitalism ,seek to blame maily the fiat money system and “Socialists” and “communists’ for the difficulties of a Ponzi , bankster ridden capitalism .
Possibly ,your anti socialist Austrian solution to the debt crisis ,caused by “socialists” is “ethical values” “Austerity” and “deregulation” and non- fiat P.M. currencies, so that the profitability TBTF Ponzi can be magically restored?
Click on "The Plan" at www.piquapress.com for an alternative solution to money, debt,etc.
ReplyDelete